The Philippines freight and Logistics Market is expected to reach over USD 20 Mn by 2027. Will Philippines continue this growth trajectory? Ken Research

 1. Increasing Startups in the Philippines

Trends and Developments in Philippines logistics Market

• Most of the startups are specialized in financial technology, healthcare, tourism, education, new technologies, real estate and others which have aided the online logistics industry.
• Some of the popular startups launched in the Philippines include zennya, Sprout Solutions, Coins.ph, Kalibrr, mClinica, Ayannah, Squadzip, engageSPARK, Edukasyon.ph, Pushkart.ph. and several others.
• The Philippines is a thriving market for investors, as the country’s economic situation is growing and the majority of the population are young workers and frequent internet users. The Philippines E-commerce industry is growing as more and more young entrepreneurs are launching their businesses in the country.
• The Philippines have around 700 start-ups as of October 2021, an increase of 156 % from 273 start-ups in 2017. The number of start-ups in the country is expected to keep growing in succeeding years.

2. Increasing Trade Activities in Philippines

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The Philippine economy grew by 5.7 % in 2021, beating the government’s 5-5.5 % target range and rebounding from the 9.5 % pandemic-induced recession in 2020.  This strong economic performance, the second fastest in ASEAN, brought the Philippines closer to its pre-pandemic 6.6 % average gross domestic product (GDP) growth rate from 2012-2019.

The Philippines has been considered as one of the most strategic locations in the Indo-Pacific Ocean. The rapid evolution of its logistics industry has been credited to high trade traffic in both international and domestic market. The country has been considered as a trade hub due to the export of electronics, raw fibres and import of apparels and other products. The presence of such system of high volume exchange of goods has propelled the growth of the logistics industry in the Philippines.

3. Entry of Foreign Players are merging with domestic players to set an industry benchmark

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The rapid evolution of the logistics market in the Philippines has also resulted due to the advent of international players. Companies such as DHL, TNT and F6edEx have penetrated the local Filipino market through effective collaborations with domestic companies. These companies have been responsible for the establishment of industry benchmark for the use of technology in logistics sector. Apart from the major organizations, the logistics sector in the Philippines has been also comprised of a number of small scale service providers which operate on contractual basis. Many of these small scale organizations have focused their target areas to remote locations in the country which do not possess the presence of any major players.

The Indian Fantasy Sports market has reached INR 8,000 Cr in less than five years but, will the lack of government regulations pull the growth speed of the market? Ken Research

 As technology is developing, people have started looking for more ways to take part in their favorite sports. As a result, the fantasy sports sector is registering immense growth. Presently the market has grown at a CAGR of ~164% between 2017 and 2022.

1. The Fantasy sports market is 2 decades old in India, but the market witnessed a boom in users engagement owing to the affordability of mobile internet access in India

                                    

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The way a viewer consumes and engages with sports has changed drastically in India over the last few years owing to the increasing importance, availability, and access to the internet. India with a median age of 28 years and smartphone penetration of 42 percent (2020), offers a great market opportunity that could be tapped by Fantasy Sports Players. Additionally, the cost of mobile data in India is INR 51/GB, which is comparatively lower than the global average of INR 316/GB. This makes it affordable for mobile users in India to participate in Fantasy Sports competitions. It is the big reason why most Fantasy Sports market Players offer mobile-based apps for participation. This has resulted in the overall growth of the Fantasy Sports sector.

2. However, the Fantasy Sports industry is currently subject to Varying Rules and Compliance Requirements based on the Socioeconomic Situation of Each State in India

                             

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The State Governments have been given the authority to create legislation on betting and gaming under the Constitution of India’s 7^th Schedule. As a result, if state gaming legislation exists, it takes precedence over the Public Gaming Act, which was enacted earlier in time. In addition to the PGA, a number of Indian states have implemented legislation to regulate gambling and gaming. These state laws are usually in line with the PGA, and they exempt games where the outcome is mostly determined by talent.

3. But this won’t impact the growth as the industry is buoyed by the various potential investors which will enable the Fantasy sports sector to experience double-digit growth 

                                     

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India had around 390 million gamers in 2021 and the population of this gaming sector is poised to grow exponentially in the coming years. Moreover, over the past few years, fantasy sports have been a crucial area for innovation and investment. Fantasy games' successful past and promising future have driven multiple investments in the industry. Continuous Investor interest in some of the main businesses has aided the rapid growth of Fantasy Sports in India. Other players, such as Daily Fantasy Cricket and CricNWin, have also raised Millions in investment.

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MENA Remittance Market Outlook to 2027: Ken Research

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What Is the Size of Mena Remittance Industry?

MENA Remittance market is growing at a CAGR of ~% in 2017-2022 and is expected to reach USD ~ Bn by 2027. The MENA Remittance Market is largely driven by the increasing inflow of expatriates, digitization, e wallets and major government investments. MENA has been an expat hotspot for decades because of multi-cultural environment and a progressive nation which is known to offer a good quality of life to its residents. With the recent economic and political reform, the country has seen a tremendous growth in infrastructure development, thus creating more job opportunities and an attractive destination for expatriates. With the increasing inflow of expatriates also increases the inflow of remittance to other countries, thus fueling the MENA remittance market.

With the adoption of ‘cloud-first’ policy in 2017 by the MENA Government, the Country has attracted some of the world’s leading tech players to set up operations in the Kingdom. Most notably, cloud computing giant Amazon Web Services (AWS) launched its hyperscale Cloud Region in MENA in 2019, its first in MENA and a landmark investment.

Furthermore, the government has planned to invest billions of dollars to improve infrastructure, industry, housing and connectivity to call for more diverse economic base.  As part of MENA’s 2021 Economic Recovery Plan, MENA announced over 22 strategic infrastructure projects worth over $30 billion, which has fueled the Remittance market of MENA.

Mena Remittance Market In International Inbound By Channel

The MENA Remittance market is segmented by Channel into Banking Channels, MTOs, M-Wallet and Others. Banking Channels were the most dominant form of channel used in MENA Remittance market in 2022.

MENA Remittance Market By Inflow Of Countries

The MENA Remittance market is segmented by Inflow from Middle East and North Africa and inflow into Countries like India, Pakistan, Bangladesh, Sri Lanka, Egypt and Indonesia. Indonesia was the most dominant among others followed by India and Pakistan in 2022.

MENA Remittance Market in International Outbound by Channel

The MENA Remittance market is segmented by Channel into Banking Channel, MTOs, M-Wallets and Others. Banking channel was the most preferred form of channel in 2022 in MENA Remittance market.

Mena Remittance Market International Outbound By Outflow Countries

The MENA Remittance market is segmented by outflow countries into India, Pakistan, Bangladesh, Sri Lanka, Egypt and Indonesia. Indonesia held the major market share in MENA International Outbound Remittance market in 2022.

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Mena Remittance Market By Point of Contact

The MENA Remittance market is segmented by Point of Contact into Branch Pick-up, Mobile payment & Online Transaction and Prepaids cards. Branch Pickups held the majority of the share in the MENA Remittance market in 2022.

Competition Scenario in MENA Remittance Market

MENA Remittance Market is in the growing stage, consisting of ~ players (banks and digital payment companies) with just few companies acquitting the major portion of the market. MENA international remittance market is fragmented with the manifestation of small, medium and large corporations. Some of the major players in the MENA Remittance market are Western Union, MoneyGram, Al Barka Bank etc.

What is the Expected Future Outlook for the Overall MENA Remittance Market Across the globe?

The MENA Remittance market was valued at USD ~billion in 2022 and is anticipated to reach USD ~billion by the end of 2027, witnessing a CAGR of ~% during the forecast period 2022-2027. The realistic growth scenario represents the most likely scenario as per current market conditions. This scenario assumes that there will be no overall impact on the market due to any potential COVID-19 waves in the future.

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The MENA Remittance market is driven by the increasing inflow of expatriates, digitization, e-wallets and major government investments. However, the market is also constantly being influenced by rapid development in technology, product innovation, and diversification in some countries.

Government has ambitious plans to use digital technologies extensively to strengthen its services, processes, and decision making, as well as its ability to share data with constituents. There is specific emphasis on improving the individual organizational capabilities of Government entities by aligning their digital strategies with the national Digital Government Strategy 2020, strengthening the governance mechanisms, enabling a digital workforce, reinforcing agile development and analytical platforms while deploying robust cyber security measures and controls which will led to increase employment in the digital sector, thus fueling the inflow of workers in the country.

The inbound remittance is expected to showcase a CAGR close to ~% and the outbound remittance is anticipated to showcase a CAGR close to ~% by value of transactions USD ~Mn. The government's infrastructure development operations are likely to enhance job possibilities in the country in the upcoming years. The majority of these positions are likely to be in the country's flourishing private sector, resulting in a considerable rise in the number of expatriates in the country. This will undoubtedly have a significant impact on rising remittance inflows and outflows, which are highly influenced by the country's expatriate community. The domestic remittance sector will also see a rise in the future with the increasing digital money transfer company.

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MENA Remittance Market

Related Reports by Ken Research:-

Belgium Remittance Market Outlook 2027F

Australia Remittance Market Outlook to 2027F

Global Precast Concrete Market expected to record a CAGR of ~6% during the forecast period (2017-2028): Ken Research

 What Is The Size Of Global Precast Concrete Industry?

Global Precast Concrete market is growing at a CAGR of ~% in 2017-2022 and is expected to reach ~USD 150 Bn by 2028.

The Precast Concrete Market is largely driven by increasing investments by industry players, rise in construction activities across the globe, and high adoption of precast concrete over on-site cast concrete.

Precast concrete is superior to on-site cast concrete in several ways in terms of building infrastructure. It offers a superior level of quality than conventional techniques which is mainly due to proper technical management. One of the primary advantages of precast concrete over traditional concrete is the speed of construction as it cuts down one-third of the construction time. As a result, Precast Concrete Market is rising due to less time and effort needed.

Precast concrete has several advantages over conventional concrete, but its use in developing nations is limited by the considerable investment needed. Precast concrete things must be manufactured using expensive tools and molds that must be made using cutting-edge technology by highly skilled labor, which looks to be quite demanding for developing regions.

The COVID-19 outbreak caused worldwide lockdowns and disruptions in supply chains, all of which hurt the market in 2020. However, the market had a strong recovery in 2021 as a result of the start-up of major end-user sectors. Precast concrete is anticipated to have rapid market expansion shortly due to rising demand for environmentally friendly building techniques, increased dependency on current construction methods & urbanization.

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Global Precast Concrete Market By Product

The Global Precast Concrete market is segmented by Product into Beam and Column System, Floor and Roof System, Bearing Wall System and Façade System.

DGBEF segment held the largest market share of the Global Precast Concrete Market in 2022, as it improves thermal stability, has strong mechanical properties, and provides moisture resistance. It is used extensively across multiple end-user industries such as building & construction and automotive. DGBEF is Diglycidyl Ether Bisphenol F, a reaction product of phenol and formaldehyde. This type of Precast

Global Precast Concrete Market By Application

The Global Precast Concrete market is segmented by Application into Structural Building Components, Architectural Building Components, Transportation Products and Waste & Water Handling Products.

The liquid form segment held the largest market share of the Global Precast Concrete Market in 2022. The reason behind the largest share of this segment is a wide area of applications in almost all industries.

Precast Concrete in liquid form prevents corrosion and as a sealant, it protects surfaces, including pipelines, metal, floors, countertops, and equipment parts.

It is often found in transistors and electrical circuits to protect parts from moisture, dirt, dust, and other debris that can damage materials over time.

Global Precast Concrete Market By End-User

The Global Precast Concrete market is segmented by End-user into Residential, Commercial, Infrastructure and Industrial.

The liquid epoxy segment dominated the Precast Concrete industry in 2022 and is projected to be the faster-growing segment during the forecast period, 2022-2028.

This is due to the rapid industrialization and rise in demand for consumer electronics, flourishing the market during the forecast period. The liquid Precast Concrete has been used for years as it possesses superior quality and has strong resistance power to corrosion, chemical, heat, and others.

Hence, the growing application of liquid epoxy technology in various end-use industries will positively impact the market.

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Key Topics Covered in the Report

• Snapshot of the Global Precast Concrete Market
• Industry Value Chain and Ecosystem Analysis
• Market size and Segmentation of the Global Precast Concrete Market
• Historic Growth of the Overall Global Precast Concrete Market and Segments
• Competition Scenario of the Market and Key Developments of Competitors
• Porter’s 5 Forces Analysis of the Global Precast Concrete Market
• Overview, Product Offerings, and SWOT Analysis of Key Competitors
• COVID-19 Impact on the Overall Global Precast Concrete Market
• Future Market Forecast and Growth Rates of the Total Global Precast Concrete Market and by Segments
• Market Size of Product / Application Segments with Historical CAGR and Future Forecasts
• Analysis of the Precast Concrete Market in Major Regions
• Major Production / Consumption Hubs in the Major Regions
• Major Country-wise Historic and Future Market Growth Rates of the Total Market and Segments
• Overview of Notable Emerging Competitor Companies within Each Major Country

Major Players Mentioned in the report

• LafargeHolcim
• ARTO
• Sauereisen
• Kijlstra precast Ltd
• Carlow Precast Concrete Engineering
• Qingdao Qingde Precast Accessories Co., Ltd.
• Great Magtech (Xiamen) Electric Co., Ltd
• Tindall
• Oldcastle Infrastructure
• Boral Limited
• Forterra

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Notable Emerging Companies Mentioned in the Report

• Atlas Group
• Bex technology
• Cuby technology
• Minolite
• PLINX

Key Target Audience – Organizations and Entities Who Can Benefit by Subscribing This Report

• Precast Concrete Producers
• Precast Concrete Structures Providers
• Construction Equipment Companies
• Chemical Manufacturers
• Organic Building Materials Manufacturers
• Construction Sector Policy Makers
• Construction Regulation Authorities
• Architecture Firms
• Construction Tech Investors
• Chemicals Products Suppliers
• Precast Solution Providers
• Potential Investors in Construction Industry
• PE and VC Firms focused on Construction Industry

Time Period Captured in the Report

• Historical Period: 2017-2021
• Forecast Period: 2022E-2028F

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Global Precast Concrete market

Global Packaging Machinery Market expected to record a CAGR of ~5% during the forecast period (2017-2028): Ken Research

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What Is The Size Of Global Packaging Machinery Industry?

Global Packaging Machinery market is growing at a CAGR of ~% in 2017-2022 and is expected to reach ~USD 60 Bn by 2028.

The Packaging Machinery Market is largely driven by the increasing demand for consumer goods along with rising popularity of e-commerce platform to shop different products.

The growing demand for highly efficient packaging machines among end-user industries coupled with advancements in technologies such as robots, automation, and others to scale up the business efficiently, is likely to propel the growth of the market.

The rising demand for packaged food and beverages products along with increasing consumer spending on pharmaceutical and personal care products is expected to boost the demand for packaging and packaging machinery among end-users.

Advanced technology and automated packaging machines are highly expensive and require high initial investment which makes it difficult for small and medium-sized manufacturers to afford the packaging machinery, which may slow down market growth.

The COVID-19 pandemic negatively impacted the Packaging Machinery market initially due to the imposed lockdown, the demand and supply for packaging machinery got impacted. International packaging machine deliveries were delayed to curb the pandemic situation. In addition, COVID-19 affected consumer shopping at convenience and retail stores and also impacted the E-commerce sector due to which the demand for packaging and packaging machinery declined.

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Global Packaging Machinery Market By Machine Type

The Global Packaging Machinery market is segmented by Machine type into Filling, Labeling, Form-Fill-Seal, Cartoning, Wrapping, Palletizing and Bottling Line.

Filling segment held the largest share of the Global Packaging Machinery Market in 2022, owing to the increasing demand for filling machines in various industries.

Filling machines are widely used to fill bottled water and other liquids, and are widely used in various end industries such as pharmaceuticals, food & beverages, chemicals, and others. The demand for different filling machines such as overflows filling machines, gravity filling machines, pump filling machines, piston filling machines, and others among end-users is anticipated to drive the growth of the segment in the market.

Global Packaging Machinery Market By Operations

The Global Packaging Machinery market is segmented by Operations into Autonomous and Semi-Autonomous.

Autonomous segment accounted for the largest share of the Global Packaging Machinery Market in 2022, due to the growing demand for automated packaging machines among end-user industries to scale effectively while controlling the cost of operations.

The highly advanced autonomous packaging machinery offers various benefits including reduced labor cost, reduced damages, increased throughput and productivity, consistent packaging results, and others, which are attracting various end-users and are likely to boost the demand for the segment in the market.

Global Packaging Machinery Market By Technology

The Global Packaging Machinery market is segmented by Technology into General Packaging, Modified Atmosphere Packaging and Vacuum Packaging.

General Packaging segment accounted for the largest share of the Global Packaging Machinery Market in 2022, owing to its simple operation and maintenance.

The demand for packaging various products including food & beverages, chemicals, personal care, and others efficiently in a shorter time is expected to propel the growth of the segment in the Global Packaging Machinery Market.

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Global Packaging Machinery Market By End-User

The Global Packaging Machinery market is segmented by End-User into Food and Beverages, Pharmaceuticals, Personal Care and Industrial and Chemicals.

Food and Beverages segment accounted for the largest share of the Global Packaging Machinery Market in 2022, owing to surging demand for packaged food and beverages products as they are convenient and easy to carry.

Increased spending of consumers on packaged food products coupled with rising consumption of organic and healthy food items require special packaging, which in turn is expected to boost the demand for highly efficient packaging machineries.

Key Topics Covered in the Report

• Snapshot of the Global Packaging Machinery Market
• Industry Value Chain and Ecosystem Analysis of the Packaging Machinery Market
• Market size and Segmentation of the Global Packaging Machinery Market
• Historic Growth of the Overall Global Packaging Machinery Market and Segments
• Competition Scenario of the Packaging Machinery Market and Key Developments of Competitors
• Porter’s 5 Forces Analysis of the Global Packaging Machinery Industry
• Overview, Product Offerings, and Strategic Developments of Key Competitors
• COVID-19 Impact on the Overall Global Packaging Machinery Market
• Future Market Forecast and Growth Rates of the Global Packaging Machinery Market and by Segments
• Market Size of Application/End-User Segments with historical CAGR and Future Forecasts
• Analysis of the Packaging Machinery Market in Major Regions
• Major Production / Consumption Hubs in the Major Regions
• Major Production/Supply and Consumption/Demand Hubs in Each Region
• Major Country-wise Historic and Future Market Growth Rates of the Total Packaging Machinery Market and Segments
• Overview of Notable Emerging Competitor Companies within Each Major Region

Major Companies Mentioned in the Report

• Krones AG
• Robert Bosch Gmbh
• Coesia
• I.M.A. Industria Macchine Automatiche S.P.A.
• Langley Holdings Plc
• KHS Group
• CKD Corporation
• Barry-Wehmiller Companies
• The Adelphi Group Of Companies
• Fuji Machinery Co.,Ltd.

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Notable Emerging Companies Mentioned in the Report

• Tetra Laval
• Marchesini Group
• Aetna Group
• BERHALTER AG
• Syntegon Technology GmbH
• PAC Machinery
• Multivac

Key Target Audience – Organizations and Entities Who Can Benefit by Subscribing This Report

• Packaging Machinery Manufacturers
• Packaging Machinery Investors
• Packaging Machinery Providers
• Packaging Machinery Suppliers
• Packaging Machinery Components Suppliers
• Allied Industries of Packaging Machinery
• Government Ministries and Departments of Engineering Industry
• Packaging Machinery Research and Development Companies
• Potential Entrants into Packaging Machinery Industry

Period Captured in the Report

• Historical Period: 2017-2021
• Forecast Period: 2022E-2028F

For more insights on market intelligence, refer to the link below: –

Global Packaging Machinery Market

Middle East Post-Acute Rehabilitation Market Outlook to 2027: Ken Research

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What is the Size of Middle East Post-Acute Rehabilitation Industry?

Middle East Post-Acute Rehabilitation market is growing at a CAGR of ~% in 2017-2022 and is expected to reach Middle East ~ Bn by 2027. The Middle East Post-Acute Rehabilitation Market is largely is driven the Middle East post-acute care market has been growing over the past few years, due to factors such as the aging population, growing prevalence of chronic diseases, rising healthcare expenditure, rising affordability, and many other factors.

The aging population in the US is anticipated to lead to a sharp increase in the demand for post-acute care services provided by home health agencies. After getting discharged from acute-care hospitals, the majority of the elderly patients require post-acute care and a large number of these patients prefer to receive such care in the comfort of their homes as the old people are not able to travel much to avail of treatments. However, the market has been confronted with some challenges specifically, tight labor supply, changes in reimbursement policies, etc.

Middle East Post-Acute Rehabilitation Market By Services

The report provides the bifurcation of the market into four segments based on the services: Skilled Nursing Facilities, Home Health, Long Term Acute Care, and Inpatient Rehabilitation. the home health segment is expected to be the fastest growing segment in the forecasted period owing to the affordability offered by home health services in comparison to other post-acute care services.

Middle East Post-Acute Rehabilitation Market By Application

The market is also segmented based on application: Elderly, Adult, and Child. The elderly segment held the highest share in the market, i.e. approximately three quarters as the old generation is more prone to chronic diseases and other medical problems as compared to the young generation.

Middle East Post-Acute Rehabilitation Market By Condition

The report further provided the segmentation based on the condition: Neurological Disorders, Brain Injury, Amputations, Spinal Cord Injury, Wound Management, and Others. Amputations segment is expected to grow at the highest CAGR in the forthcoming years. Cancer accounted for minor share of total amputations and is the most common cause between ages 10 and 20 years. The increasing incidence of cancer is expected to drive amputation cases in the coming years, which would further increase the need for post-acute care.

Middle East Post-Acute Rehabilitation Market by Outflow Countries

The Middle East Post-Acute Rehabilitation market is segmented by outflow countries into India, Pakistan, Bangladesh, Sri Lanka, Egypt and Indonesia. Indonesia held the major market share in MENA International Outbound Remittance market in 2022.

Middle East Post Acute Rehabilitation Market by spending

The report provides a glimpse of market spending based on services: Skilled Nursing Facilities, Home Health, Long Term Acute Care, and Inpatient Rehabilitation. Fee-for-services (FFS) spending on inpatient rehabilitation facilities (IRFs) has increased steadily over the past decade and is estimated to increase in the approaching years. This is because an increasing number of Medicare FFS users are likely to opt for inpatient rehabilitation facilities for conditions such as stroke, brain injury, cardiac conditions, etc.

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Competition Scenario in Middle East Post-Acute Rehabilitation Market

Post-Acute Rehabilitation Market is concentrated among the top 5 players. Prominent players are pursuing various strategies, such as research & development initiatives, product innovations, joint ventures & strategic partnerships, expansion, and mergers & acquisitions to gain a competitive edge in the market. Market players are focusing on leveraging the capabilities of newly emerged fintech companies to offer their consumers the utmost convince of healthcare. The major companies dominating the Post-Acute Rehabilitation market for its products, services, and continuous product developments are Cambridge Medical & Rehabilitation Centre (CMRC), Amanat Holdings, Sukoon International Holding Company, Priory Group among others

What is the Expected Future Outlook for the Overall Middle East Post-Acute Rehabilitation Market?

The Middle East Post-Acute Rehabilitation market was valued at USD ~billion in 2022 and is anticipated to reach USD ~billion by the end of 2027, witnessing a CAGR of ~% during the forecast period 2022-2027. The realistic growth scenario represents the most likely scenario as per current market conditions. This scenario assumes that there will be no overall impact on the market due to any potential COVID-19 waves in the future.

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The Middle East Post-Acute Rehabilitation market is driven by due to factors such as the aging population, growing prevalence of chronic diseases, rising healthcare expenditure, rising affordability, and many other factors. The aging population in the US is anticipated to lead to a sharp increase in the demand for post-acute care services provided by home health agencies. After getting discharged from acute-care hospitals, the majority of the elderly patients require post-acute care and a large number of these patients prefer to receive such care in the comfort of their homes as the old people are not able to travel much to avail of treatments.

Development and analytical platforms while deploying robust cyber security measures and controls which will led to increase employment in the digital sector, thus fueling the post-acute access to people in the country. The market is projected to grow at a fast pace during the forecast period, due to various latest trends such as integration of CMMI in payment models, growing emphasis on home-based services, etc. Home is the most affordable setting to treat patients requiring post-acute care services. The provision of care at home is preferred by consumers as compared to more costly settings such as skilled nursing facilities. Too often, patients do not have the critical information they need to carefully assess their options and make informed choices when they are at their most vulnerable. They rely on faith, instead of facts.

Decisions on where to go for post-hospital care usually have to be made quickly, and patients are just relieved to find a bed. The result is that people end up choosing lower-quality providers. One study found that only 16% of Medicare recipients using services at a skilled nursing facility chose the best provider that’s available to them.

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Middle East Post-Acute Rehabilitation Market

Global Specialty Silica Market is forecasted to reach a market size of ~US$ 9 billion by 2028F: Ken Research

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What Is the Size of Global Specialty Silica Industry?

Global Specialty Silica market is growing at a CAGR of ~% in 2017-2022 and is expected to reach ~USD Bn by 2028F. The Specialty Silica Market is largely driven by rising demand for rubber and paints & coatings across different end-use industries such as construction and footwear industries.

Increasing tire production in the automotive industry is one of the factors driving the growth of the specialty silica market. Global automobile production is increasing in several developed countries, increasing the demand for tire consumption. The exponential increase in electric vehicle manufacturing presents lucrative opportunities for the tire industry, which is having a positive impact on the specialty silica market.

The biggest challenge for the market is the high cost of colloidal silica and the growing preference of end users for lower-cost alternatives. Specialty silica showcases a cyclical behavior, with the market shifting focus to other substitutes that are much lower in price as compared to silica. It will impact player profit margins in the years to come.

The market was negatively impacted by the COVID-19 pandemic, owing to the strict regulations in several countries that temporarily halted all types of manufacturing processes. However, the market is expected to exhibit significant growth in the forecast period due to surging demand for specialty silica in the paint & coatings and automobile industries.

Global Specialty Silica Market By Product

The Global Specialty Silica market is segmented by Product into Precipitated Silica, Fumed Silica, Fused Silica, Silica Gel and Colloidal Silica. The precipitated silica segment held the largest market share in the global specialty silica market in 2022, owing to its wide application in PVC sheets, wherein it helps in improving pigment dispersion and tensile strength. Precipitated silica is the most commonly used specialty silica in the rubber industry. The product acts as a reinforcing agent and improves wear and tear resistance.

Fused silica is expected to register the highest CAGR during the forecast period. Fused silica products are used in the manufacture of optical components such as mirrors, UV and IR transmitting optics, lenses and metrology.

Global Specialty Silica Market By Application

The Global Specialty Silica Market is segmented by Application into Rubber, Plastic, Paint & Coatings, Electrical & Electronics, Agricultural & Feed, Food & Beverages, Personal Care and Others. The rubber segment held the largest market share in the global specialty silica market in 2022, as rubber made of silica material is widely utilized in different end-use industries such as automotive, footwear, and others.

In industrial rubber goods, specialty silica is commonly used in Liquid Silicone Rubber (LSR) and High-Temperature Vulcanized (HTV) rubber, which requires high mechanical strength and good electrical insulation.

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Global Specialty Silica Market By Geography

The Global Specialty Silica market is segmented by geography into North America, Europe, Asia- pacific and LAMEA. Asia Pacific held the largest market share among all other regions within the global specialty silica market in 2021, owing to the rising construction activities in China and Japan.

According to the International Organization of Motor Vehicle Manufacturers (OICA), Asia Pacific is the largest producer of motor vehicles. The growing automotive industry, is the factor responsible for the largest share of the region.

The Japanese construction industry is predicted to boom as the country prepares to host the World Expo in Osaka, Japan, in 2025. The demand for constructing various buildings and infrastructure for the event will boost the market for specialty silica in the region.

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Competition Scenario In Global Specialty Silica Market

The Global Specialty Silica Market is highly competitive with ~200 players, including globally diversified players, regional players, and many country-niche players. Most of the country-niche players are the manufacturers of specialty silica used in various end-user industries.

Regional players constitute ~35% of the total number of competitors, while country-niche players dominate representing ~55% of total competitors. Some of the major players in the market include Cabot Corporation, Akzo Nobel N.V., Evonik Industries, Huber Engineered Materials, Solvay, PQ, Madhu Silica Pvt. Ltd., Wacker Chemie AG, PPG Industries, Inc., W. R. Grace & Co., among others.

What Is the Expected Future Outlook for the Overall Global Specialty Silica Market Across the Globe?

The Global Specialty Silica market was valued at USD ~billion in 2022 and is anticipated to reach USD ~billion by the end of 2028F, witnessing a CAGR of ~% during the forecast period 2022-2028F. The realistic growth scenario represents the most likely scenario as per current market conditions. This scenario assumes that there will be no overall impact on the market due to any potential COVID-19 waves in the future.

The Global Specialty Silica market is driven by increased automation in multiple industries and rising demand from the automotive sector. However, the market is also constantly being influenced by rapid development in technology, product innovation, and diversification in some countries. With the increasing Investments and emergence of new products, the Global Specialty Silica market is changing rapidly. For instance, In November 2021, Nouryon announced the expansion of its Levasil colloidal silica manufacturing plant in USA. The plant expansion is aimed to meet the increasing demand from the packaging and construction industry.

Furthermore, In October 2021, Evonik Wynca Silicon Material started its fumed silica plant, which is the company’s first fumed silica plant in China. It aims at positioning the company by building a global supply chain for its customers in China and overall, Asia.

The Global Specialty Silica Market witnessed a negative impact due to COVID-19 owing to the strict regulations in several countries that temporarily halted all types of manufacturing processes. The global pandemic affected the production of rubber due to a complete ban on imports-exports that disrupted the supply chain, work stoppages, and Labor shortages, thereby hampering the growth of the market. Precipitated silica is the most common type of specialty silica product among others such as fumed silica, fused silica, silica gel, and colloidal silica. The majority of the silica material is used in the manufacturing of rubbers that are further utilized in various end-use industries such as electrical and electronics, automotive, footwear, and others. Though the market is competitive with over ~200 participants, country-niche players control the dominant share in the market and regional players also hold a significant share.

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Global Specialty Silica Market

Future Outlook of US Medical Devices Market: Ken Research

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What Is The Size Of Us Medical Device Industry?

US Medical Device market is growing at a CAGR of ~% in 2017-2022 and is expected to reach USD ~ Bn by 2027.

The US Medical Device Market is largely driven by rising levels of urbanization & climate change consciousness and government initiatives. Also, growing Demand for sustainable Services are some other factors driving the market growth. As a result, the industry has grown due to consumers' increased preference for sustainable management of water.

Furthermore, the rising number of government initiatives is the main growth driver for the expansion of the US Medical Device Market

Furthermore, the COVID-19 has created the need for proper waste disposal growth across the globe. The stringent travel restrictions and quarantine rules across the globe have adversely affected the waste water management market. The waste water management market registered around ~% lower revenue in 2020 as compared to 2019. However, the market is displaying a decent recovery post-severe COVID-19 pandemic outbreaks as the market revenue is surging by around ~% in 2021 as compared to 2020.

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Competition Scenario in Us Medical Device Market

US Medical Device Market is at a growing stage. The market has over ~ players. US Medical Device market is dominated by major players such as Dew, DuPont, Xylem & Suez. US Medical Device Market is in the Growing stage owing to rising urbanization & industrialization levels.

What Is The Expected Future Outlook For The Overall US Medical Device Market?

The US Medical Device market was valued at USD ~billion in 2022 and is anticipated to reach USD ~billion by the end of 2027, witnessing a CAGR of ~% during the forecast period 2022-2027. The realistic growth scenario represents the most likely scenario as per current market conditions. This scenario assumes that there will be no overall impact on the market due to any potential COVID-19 waves in the future. The US Medical Device market is driven by rising lifestyle diseases & increase in surgical procedures.

However, the market is also constantly being influenced by rapid development in technology, product innovation, and diversification in some countries.

Also, owing to the increasing demand from governments for sustainable technologies, the market is expected to witness tremendous growth in the upcoming years.

The rise in domestic and international industrialization across the globe is likely to witness major growth in the market. Along with rising lifestyle diseases across the globe and increase in technological implantation.

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Time Period Captured in the Report:

• Historical Period:2017- 2022
• Base Year: 2022
• Forecast Period: 2022-2027

Key Target Audience:

• Hospital
• ASC
• Clinics
• Government Agencies
• Distributors

Companies Covered:

• Abbott
• Johnson & Johnson
• Beckton
• 3M Company
• General Electric
• Stryker

Cardinal Health

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US Medical Devices Market

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KSA Medical Devices Market Outlook to 2026

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India EV Charging Equipment Market Gained Momentum after the Implementation of FAME India Scheme Generating $40 Mn in 2021. Will the Growth Sustain?

 Govt. Policies & Subsidies provided under FAME II, GST Reduction 18% to 5% on EV chargers and Incentives provided on Chargers helped India EV Charging Equipment Market Revenue grew almost at 23% by 2016- 2021, as per the findings by Ken Research.

1. FAME II primarily focuses on driving the electrification of public transportation and vehicles with lithium-ion or other advanced batteries.

The government has increased the budget allocation for FAME II by eight times compared to FAME I. FAME-II offers more upfront incentives for EV purchases. Demand incentives are provided to buyers in the form of a reduced upfront purchase price, which are reimbursed to OEMs by the central government. The primary focus is to increase localization and domestic manufacturing. The policy states that to be eligible for upfront incentives, OEMs have to ensure that at least there is: 40% localization for buses, 50% localization for 2Ws, 3Ws, and passenger cars.

                           

Rising EV Penetration in India: Click to Know More

2. State EV policies have shown intent and ambition to deploy EVSEs with Incentives including capital subsidies on plants and equipment, discounted electricity.

                           

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Capital Subsidy of 25% of the value of the charging station equipment for first 300 small, first 100 medium and first 100 large charging stations by Madhya Pradesh, Capital subsidy of 25% of equipment & machinery for DC Chargers for first 100 and 300 chargers—for chargers 100 V and up and below 100 V, respectively by Andhra Pradesh and Capital Subsidy of 25% of the value of the charging A subsidy of 25% or INR 10 lakhs, whichever is less, on the first 250 charging stations that will be set up near bus depots, petrol pumps, and public parking spots; steps taken by Maharashtra. Furthermore, Commercial public EV charging stations to be eligible for 25% capital subsidy on equipment/machinery (limited to INR 5 lakhs per station) for first 500 stations, issued by Bihar.  These different favourable policies of different Indian states have set the path for the EV market to grow.

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How the gap in India Career Skilling Market creates an opportunity for private companies/ ed-tech to thrive in India?: Ken Research

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In India, the need for career skilling platforms among graduates and working professionals has been steadily increasing over time. The need for career upgrading platforms to make these graduates in India was underlined by the lack of comprehensive courses and career counseling at the college level, as well as disappointments from employers on the attitude, skill, and knowledge misalignment among recruited entry-level graduates. Here is an insight into how the demand and supply gap creates an opportunity for ed-tech companies to build a successful business model in the country.

1. Present Day Pain Points of College Grads, Higher Education Colleges and Employers…

1.1 highlight the need for Career Skilling programs among the large & young talent pool.

2. Additionally, there is a Void in ‘employers-only training mode’ to meet Young Professional’s Learning Need

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3. Skill Needs are also evolving among sectors along with training spend

4. Government is trying to Bridge the Professional Skill Gap but needs private companies/ ed-tech support

5. The demand and Supply Gap in the career skilling market presents an opportunity for an Ed-tech Platform to build a scalable business model in India

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India Career Skilling Market

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