Industry Research Report : May 2021

Monday 31 May 2021

Sleep Apnea Device Market to Witness Notable Hike by a Noteworthy CAGR During 2020 – 2029 Owing to the Rising Undiagnosed Patient Pool of the Disorder

Research Nester published a report titled “Sleep Apnea Device Market: Global Demand Analysis & Opportunity Outlook 2029” which delivers detailed overview of the sleep apnea device market in terms of market segmentation by product type, end user, and by region.

Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.

The sleep apnea device market is estimated to occupy a sizeable amount of revenue by growing at a significant CAGR during the forecast period, i.e., 2021 – 2029, owing to the rising occurrence of undiagnosed sleep apnea, major lifestyle changes and increasing usage of oral applications. Apart from these, growing capital funding by leading medical companies for developing effective devices for sleeping disorders is also expected to drive market growth.

The market is segmented by product type and end user. Based on product type, the segment for therapeutic devices is anticipated to grab the largest market share during the forecast period on the back of escalating application of nasal, oral and chin-strap devices and high availability of cutting-edge medical appliances. Furthermore, the sleep masks segment is projected to grow at the highest rate, which can be credited to the rise in adoption of CPAP machines.

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Geographically, the sleep apnea device market is segmented into five major regions, namely North America, Europe, Latin America, Asia Pacific, and the Middle East & Africa. North America region is evaluated to grab the largest share in the market during the forecast period attributing to the increasing prevalence of sleep disorders and strong presence of market players. Moreover, the market in Asia Pacific is assessed to grow by the highest rate in the future owing to the large patient pool and growing geriatric population.

Increasing Incidences of Sleep Apnea to Boost Market Growth

Sleep apnea is a serious disorder which is gaining wide recognition globally since the last few years. Along with this, as there is a global shift in the lifestyle preferences of people, the incidences of obesity and other chronic diseases is also increasing, which is also giving rise to the growing prevalence of sleep disorders. This is the major factor expected to fuel the market in the near future.

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However, costly diagnosis and treatment for sleep apnea is expected to operate as key restraint to the growth of the sleep apnea device market over the forecast period.

This report also provides the existing competitive scenario of some of the key players of the sleep apnea device market which includes company profiling of Koninklijke Philips N.V. (AMS: PHIA), ResMed Corp. (NYSE: RMD), Fisher & Paykel Healthcare Limited (NZE: FPH), Cadwell Industries Inc., GENERAL ELECTRIC COMPANY (NYSE: GE), BMC Medical Co., Ltd., Becton, Dickinson and Company (NYSE: BDX), Natus Medical Incorporated (NASDAQ: NTUS), Invacare Corporation (NYSE: IVC), Compumedics Limited (ASX: CMP), and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the sleep apnea device market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.

Friday 28 May 2021

Global Smoke Detector Market to Gain Significant CAGR over 2021-2029; Market Growth Propelled by Increasing Cases of Accidental Fire Outbreaks

Research Nester published a report titled “Smoke Detector Market: Global Demand Analysis & Opportunity Outlook 2029” which delivers detailed overview of the global smoke detector market in terms of market segmentation by product, installation type, end-user and by region.

The global smoke detector market is estimated to witness significant CAGR during the forecast period, i.e., 2021-2029. The market is segmented on the basis of installation type into hardwired, hardwired with battery back-up and battery powered, out of which the hardwired with battery back-up segment is projected to hold a major market share during the forecast period on the back of high dependance on these detectors. These smoke detectors are well equipped for emergencies, as they are electric powered along with a battery for back-up, as the name suggests. On the basis of end-user, the industrial segment is anticipated to hold the largest share during the forecast period owing to increasing need for safety from fire accidents in fire-prone industries. Moreover, it is essential for industries, such as, oil & gas, to be equipped with smoke detecting devices to avoid any mishappening due to the flammable nature of the product.

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The growth of the global smoke detector market can be attributed to the rising government initiatives to curb the growing cases of death and injuries caused by fire. Additionally, construction of residential and commercial buildings, equipped with proper fire-safety systems, is estimated to boost the demand for smoke detectors.

Regionally, the global smoke detector market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. Out of these regions, the market in the North America is forecasted to garner the largest market share in the forecast period, owing to the growing number of deaths caused by fire in the countries, such as, the U.S. As per the statistics provided by U.S. Fire Administration (USFA), in 2019, 3,704 deaths were caused by fire. The cases of death have increased significantly from the 3,400 death in 2017.

The market in the Asia Pacific is estimated to grow at the highest CAGR during the forecast period owing to the rising government initiatives to curb the cases of fire accidents. Moreover, increasing construction of fire-safe residential buildings, backed by the growing population in countries, such as, China and India, is projected to boost the market growth.

Rising Cases of Fatality by Fire Likely to Drive the Market Growth

In the year 2017, out of every 100,000 individuals, 1.5 individuals died in a fire accident, worldwide.

Fire accidents are a major cause of untimely death globally, and majority of these accidents occur in households. Fire can be caused due to various reasons, such as, electric short circuit, smoking, and others, which can be controlled, if detected timely. The rising cases of fire, and the need to curb these cases, is estimated to drive the market growth.

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However, the high installation charges and annual maintenance of smoke detectors is expected to operate as key restraint to the growth of the market over the forecast period.

This report also provides the existing competitive scenario of some of the key players of the global smoke detector market which includes company profiling of Honeywell International Inc. (NYSE: HON), Fike Corporation, Gentex Corporation (NASDAQ: GNTX), Halma plc (LON: HLMA), Siemens Aktiengesellschaft (ETR: SIE), Hochiki Corporation (TYO: 6745), Space Age Electronics, Inc., Johnson Controls, Inc. (NYSE: JCI), Hitachi, Ltd. (TYO: 6501) and Robert Bosch GmbH (NSE: BOSCHLTD). The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global smoke detector market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.

About Research Nester

Research Nester is a leading service provider for strategic market research and consulting. We aim to provide unbiased, unparalleled market insights and industry analysis to help industries, conglomerates and executives to take wise decisions for their future marketing strategy, expansion and investment etc. We believe every business can expand to its new horizon, provided a right guidance at a right time is available through strategic minds. Our out of box thinking helps our clients to take wise decision in order to avoid future uncertainties.

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Thursday 27 May 2021

Global PC Accessories Market to Garner a Considerable CAGR During 2021-2029 Owing to the Increased Adoption of Process Automation among End-Users; North America to Garner Largest Market Share

Research Nester published a report titled “PC Accessories Market: Global Demand Analysis & Opportunity Outlook 2029” which delivers detailed overview of the global PC accessories market in terms of market segmentation by product type, end-user, distribution channel and by region.

The global PC accessories market is estimated to hold a considerable CAGR over the forecast period, i.e., 2021-2029, owing to the increasing application of computers in various end-user industries. Additionally, increasing application of computers for personal use, including, recreation and learning, is expected to promote the market growth throughout the forecast period.

The global PC accessories market is segmented by product type into electronic and non-electronic, out of which, the electronic segment is estimated to garner the largest share during the forecast period, owing to the growing need for these accessories for various necessary functions of a computer. For instance, printer is an essential electronic accessory, needed among business organizations and educational institutes. On the basis of distribution channel, the market is divided into online and offline channels, out of which, the online segment is anticipated to hold a major share during the forecast period. this growth can be attributed to the easy buying and returning process, backed by the growing prevalence of internet.

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Geographically, the market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. The market in the North America is anticipated to hold the largest share in the forecast period owing to the growing manufacturing of computers, backed by the presence of major manufacturers in the region. The total computer manufactured in the United States, in 2020, amounted to around USD 8 billion.

The market in Asia Pacific is estimated to experience highest CAGR during the forecast period owing to the rising adoption of technology, combined with the changing lifestyle and elevated disposable income. Additionally, growing popularity of online gaming is estimated to boost the market growth in the region.

Rising Sales of PC likely to boost the demand for PC accessories

In the year 2020, more than 70 million desktops and more than 200 million laptops were sold across the world.

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Rapid global digitalization has resulted in increased need for using computer machines in offices, schools, research institutions and in households for personal use. The growing demand of personal computers is estimated to increase the demand for its accessories, which is anticipated to boost the market growth.

However, various low-standard products are dumped into the international market, which are available at a very low price. This increasing dumping of generic PC accessories is likely to challenge the market growth by the end of 2029.

This report also provides the existing competitive scenario of some of the key players of the global PC accessories market which includes company profiling of HP Inc. (NYSE: HPQ), Canon Inc (TYO: 7751), Seagate Technology LLC (NASDAQ: STX), Logitech, Inc. (SWX: LOGN), Toshiba International Corporation (TYO: 6502), Western Digital Technologies, Inc. (NASDAQ: WDC), Seiko Epson Corporation (TYO: 6724), Lexmark International, Inc., Microsoft Corporation (NASDAQ: MSFT), and Dell Technologies, Inc. (NYSE: DELL). The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global PC accessories market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.

About Research Nester

Contact for more Info:

AJ Daniel

Email: info@researchnester.com

U.S. Phone: +1 646 586 9123

U.K. Phone: +44 203 608 5919

Wednesday 26 May 2021

Pharmaceutical Glass Ampoules Market to Witness Surge by a Noteworthy CAGR throughout 2021 – 2029; Rapid Growth of the Pharmaceutical Industry to Result in Increased Product Demand

Research Nester published a report titled “Pharmaceutical Glass Ampoules Market: Global Demand Analysis & Opportunity Outlook 2029” which delivers detailed overview of the global pharmaceutical glass ampoules market in terms of market segmentation by type, capacity, drug type, and by region.

The pharmaceutical glass ampoules market is estimated to occupy a sizeable revenue by growing at a significant CAGR during the forecast period, i.e., 2021 – 2029, owing to the rise of pharmaceutical industry globally and increasing preference for injection based treatments. Apart from these, growing emergence of glass as a cost effective and safe packaging solution is also expected to drive market growth.

The market is segmented by type, capacity and drug type. Based on drug type, the segment for generic drugs is anticipated to grab the largest market share during the forecast period on the back of increasing incidences of chronic diseases and growing geriatric population. Furthermore, the biologic segment is projected to grow at the highest rate, which can be credited to the capability of biologics to treat various autoimmune diseases and cancer effectively.

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Geographically, the pharmaceutical glass ampoules market is segmented into five major regions, namely North America, Europe, Latin America, Asia Pacific, and the Middle East & Africa. North America region is evaluated to occupy the largest share in the market during the forecast period attributing to the rise in pharmaceutical spending in the region. Moreover, the market in Asia Pacific is assessed to grow by the highest rate in the future owing to the growing health consciousness and hike in disposable income of people in the region.

Speedy Growth of Pharmaceutical Industry to Expand Market

In 2019, the total revenue of this industry was approximately USD 1.3 trillion. The pharmaceutical industry has foreseen a tremendous growth in the past two decades. This has resulted in increasing demand for glass ampoules in densely populated regions. Additionally, the production of borosilicate glass material for packaging drugs has also witnessed a hike in the recent years. These factors coupled together ae evaluated to boost market growth in the coming years.

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However, issues such as glass delamination, while packaging of drugs is expected to operate as key restraint to the growth of the pharmaceutical glass ampoules market over the forecast period.

This report also provides the existing competitive scenario of some of the key players of the global pharmaceutical glass ampoules market which includes company profiling of Corning Incorporated, SCHOTT AG, PIRAMIDA d.o.o., Gerresheimer AG (ETR: GXI), NIPRO Corporation (TYO: 8086), Stevanato Group, SGD S.A., Shandong Medicinal Glass Co., Ltd. (SHA: 600529), Ardagh Group S.A. (NYSE: ARD), and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the pharmaceutical glass ampoules market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.

About Research Nester

Contact for more Info:

AJ Daniel

Email: info@researchnester.com

U.S. Phone: +1 646 586 9123

U.K. Phone: +44 203 608 5919

E-Liquid Market to Grow by a Significant CAGR during 2020 – 2029 Owing to the Rising Adoption of Safe Smoking Alternatives around the World

Research Nester published a report titled “E-Liquid Market: Global Demand Analysis & Opportunity Outlook 2029” which delivers detailed overview of the global e-liquid market in terms of market segmentation by flavor, product type, distribution channel, and by region.

The e-liquid market is estimated to occupy a large revenue by growing at a notable CAGR during the forecast period, i.e., 2021 – 2029, owing to the rising openness of people for safer smoking alternatives and growing prices of conventional cigarettes. Apart from these, increasing popularity of vaping for quitting smoking and surge in demand for e-cigarettes are also expected to drive market growth.

The global e-liquid market is segmented by flavor, product type and distribution channel. Based on flavor, the tobacco segment is anticipated to grab the largest market share during the forecast period on the back of increasing demand for tobacco flavored e-liquid as a result of its ability to provide smokers with the experience of smoking real tobacco. Additionally, by product type, the bottled segment is projected to grab the largest market share in the future on the back of easy of storage and refilling of bottles.

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Geographically, the market is segmented into five major regions, namely North America, Europe, Latin America, Asia Pacific, and the Middle East & Africa. North America region is evaluated to grab the largest share in the market during the forecast period attributing to the presence of key players in the region. Moreover, the market in Asia Pacific is assessed to grow by the highest rate in the coming years owing to the increasing incidences of lung diseases in the region.

Increasing Use of Safer Smoking Alternatives to Expand Market

Since the recent years, people around the world are becoming more health conscious. The latter coupled with the rising number of cases of lung cancers as a result of smoking, is assessed to lead to growing emphasis on safer smoking options by people in the near future. Moreover, as e-cigarettes have been proven to be effective in helping people quit smoking, the demand for e-liquids is expected to witness a hike in the years to come.

“The Final Report will cover the impact analysis of COVID-19 on this industry.”

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However, strict government rules and protocols associated with the use of e-liquids is expected to operate as key restraint to the growth of e-liquid market over the forecast period.

This report also provides the existing competitive scenario of some of the key players of the e-liquid market which includes company profiling of Breazy Inc, Black Note, Inc, BSMW Ltd., Crystal Canyon Vapes LLC, Molecule Labs, Inc, Mig Vapor LLC, Philip Morris International Inc., Nicopure Labs LLC, VMR Products LLC, Turning Point Brands, Inc., and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the e-liquid market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.

About Research Nester

Contact for more Info:

AJ Daniel

Email: info@researchnester.com

U.S. Phone: +1 646 586 9123

U.K. Phone: +44 203 608 5919

Tuesday 25 May 2021

Global Ergosterol Synthesis Inhibitor Market to Attain a Significant CAGR During 2021-2030; Increasing Prevalence of Fungal Infection to Boost the Market Growth

Research Nester published a report titled “Ergosterol Synthesis Inhibitor Market: Global Demand Analysis & Opportunity Outlook 2030” which delivers detailed overview of the global ergosterol synthesis inhibitors market in terms of market segmentation by drug type, route of administration, end-user, and by region.

The global ergosterol synthesis inhibitors market is anticipated to garner a notable CAGR over the forecast period, i.e., 2021–2030. The market is segmented on the basis of route of administration into topical, oral, and others. Out of these, the topical segment is estimated to gain the largest share during the forecast period owing to the easy availability, efficiency, and ease of application in the form of powder or ointment. On the basis of end-user, the market is segmented into pharmacy, hospitals, and others, out of which the pharmacy segment is projected to witness notable growth as people prefer treating infection using over-the-counter medications. Moreover, over-the-counter drugs are cheaper, with little to no side effects, which is estimated to boost the growth of the segment.

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The global ergosterol synthesis inhibitors market is estimated to grow on the back of increasing prevalence of fungal diseases, such as, jock itch, ringworm, tinea infections, yeast infection, and dandruff, backed by the lack of sanitization in various under developed and developing countries. According to a report by the World Health Organization, only 45% of the total global population had access to proper sanitation facilities, in 2017. 2 billion people are unable to access these basic facilities, and 673 million people use open areas like open sewage lines, bushes, and water bodies for defecation. Moreover, the market is also anticipated to grow on the back of fast action of inhibitors on fungal infection, as these inhibitors cease the biosynthesis of ergosterol compound, which kills the fungi.

Regionally, the global ergosterol synthesis inhibitors market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in the Asia Pacific is projected to attain the largest share over the forecast period, owing to the high incidence of fungal infections backed by lack of sanitation in underdeveloped regions, along with hot and humid climate in countries, including, India, Indonesia, and Thailand. In India, 5-10 out of every 1,000 individuals suffered from some fungal infection, in 2019. This rate was even higher for Thailand with 12-15 out of 1000 people suffering from some kind of fungal disease. Similarly, the market in Latin America region is also expected to grow notably over the forecast period, owing to the lack of sanitation and poor cleanliness in the region.

Rising Prevalence of Fungal Infections Likely to boost the Market Growth

Fungal Diseases are most common in damp areas, such as toes, thighs, scalp, fingernails, and private parts, among others. Fungus grows in hot and humid climate, which is why, tropical and sub-tropical regions are worse affected by it. Additionally, lack of proper hygiene is also responsible for fungal infections. Ergosterol synthesis inhibitors are one of the most effective ways to treat the growth of fungus or protozoa, as they hamper the chemical processes essential for the survival of fungus by restricting the biosynthesis of ergosterol. The application of ergosterol synthesis inhibitors treats the infection quickly, and successfully, which is estimated to boost the market growth.

“The Final Report will cover the impact analysis of COVID-19 on this industry.”

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However, risk of side effects and toxicity is expected to operate as key restraint to the growth of the market over the forecast period.

This report also provides the existing competitive scenario of some of the key players of the global ergosterol synthesis inhibitors market which includes company profiling of SCYNEXIS, Inc., Pfizer Inc., Novartis AG, Kramer Laboratories, Inc., Abbott Laboratories, Bayer AG, GlaxoSmithKline plc., Glenmark Pharmaceuticals Limited, Merck & Co., Inc. and Astellas Pharma Inc. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global ergosterol synthesis inhibitors market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.

Colostrum Market Growth to be Intensified on the Back of Growing Health Awareness of Consumers Worldwide by a CAGR of ~4% throughout 2021 – 2030

Research Nester published a report titled “Colostrum Market: Global Demand Analysis & Opportunity Outlook 2030” which delivers detailed overview of the global colostrum market in terms of market segmentation by product type, application, form, and by region.

The colostrum market is estimated to occupy a large revenue by growing at a CAGR of ~4% during the forecast period, i.e., 2021 – 2030, owing to the escalating health awareness of consumers, rising demand for functional and nutritional foods, and growing use of colostrum in cosmetic industry. Apart from these, increasing disposable income of the people and rise in trend of sports and fitness are also expected to drive market growth.

The global colostrum market is segmented by product type, application and form. Based on product type, the segment for whole colostrum powder is anticipated to grab the largest market share during the forecast period on the back of its property to enhance shelf life when it is incorporated with food products. Additionally, on the basis of application, the cosmetics segment is projected to witness the highest growth over the forecast period ascribing to colostrum’s benefits such as skin moisturizing and slow down of ageing process.

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Geographically, the market is segmented into five major regions, namely North America, Europe, Latin America, Asia Pacific, and the Middle East & Africa. North America region is evaluated to grab the largest share in the market during the forecast period attributing to the presence of health-conscious population and strong brand campaigns to promote healthy lifestyle in the region. Moreover, the market in Asia Pacific is assessed to grow by the highest rate in the future owing to the growing living standards of middle-class populations and large number of cattle farming facilities in the region.

Increasing Health Awareness of People Globally to Expand Market

Since the last decade, more and more people are becoming conscious about their health. This has led to the rise in production of healthy and nutritional food supplements around the world, which in turn is anticipated to fuel the manufacture of colostrum as a result of its benefits such as promotional of appropriate gastrointestinal function, fast nutrients absorption and protection against infections.

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However, high cost of good quality products made with colostrum is expected to operate as key restraint to the growth of the colostrum market over the forecast period.

This report also provides the existing competitive scenario of some of the key players of the global colostrum market which includes company profiling of NOW Health Group, Inc., Cure Nutraceutical PVT. LTD., KOEPON HOLDING, Good Health New Zealand, PanTheryx, Inc., Biostrum Nutritech Pvt. Ltd., Sterling Technology, Biotaris B.V., Immuno-Dynamics, Inc., Cuprem Inc., and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the colostrum market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.

Monday 24 May 2021

Polymerization Catalyst Market Growth to Gain Impetus by a Significant CAGR during 2020 – 2030 Owing to the Increasing Manufacture of Polymer Resins Around the Globe

Research Nester published a report titled “Polymerization Catalyst Market: Global Demand Analysis & Opportunity Outlook 2030” which delivers detailed overview of the global polymerization catalyst market in terms of market segmentation by catalyst, type, manufacturing process, and by region.

The polymerization catalyst market is projected to grow at a significant CAGR during the forecast period, i.e., 2021 – 2030. The growth of the market is primarily driven by the growing production of polymer resins in the world, increasing R&D activities to improve quality and reduce cost of polymerization catalysts, and intensifying use of catalysts to produce plastic. Furthermore, rising demand for surgical and N95 masks is also estimated to boost market growth in the near future.

The market is segmented by catalyst, type and manufacturing process. On the basis of catalyst, the segment for Zeigler-Natta catalysts is anticipated to hold the largest market share over the forecast period as a result of increasing demand for these catalysts in various applications and high tacticity of these compounds. Additionally, by manufacturing process, the gas phase segment is projected to hold the largest market share owing to the high cost effectiveness of this process.

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Geographically, the market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa, out of which, the polymerization catalyst market in Asia-Pacific is expected to hold the largest market share during the forecast period attributing to the growing consumption of polyolefin in China and India, and increasing production of polypropylene in South Korea and China.

Escalating Production of Polymer Resins Worldwide to Expand Market

Since the inception of plastic, it has outgrown most of the man-made materials in the world. This has also resulted in the increase in production of raw materials that are required for the manufacture of plastic products such as polymer resin. As these resins are one of the main components of polymerized catalysts, the market is evaluated to grow significantly in the coming years.

However, high cost of manufacturing polymerization catalysts is expected to operate as key restraint to the growth of the polymerization catalyst market over the forecast period.

“The Final Report will cover the impact analysis of COVID-19 on this industry.”

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This report also provides the existing competitive scenario of some of the key players of the global polymerization catalyst market which includes company profiling of W R Grace & Co., LyondellBasell Industries Holdings BV, Mitsui Chemicals Inc., Univation Technologies, LLC, China Petrochemical Corporation (Sinopec), Ulsan PP Co., Ltd, Quanzhou Grand Pacific Chemical Co. Ltd, Hyosung Vina Chemicals Co., Ltd, Advanced Global Investment Company, Toho Titanium Co. Ltd, and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the polymerization catalyst market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.

Global Refrigeration Oil Market to Attain Significant CAGR over 2021-2030; Increasing Demand for Consumer Appliances to boost the Market Growth

Research Nester published a report titled “Refrigeration Oil Market: Global Demand Analysis & Opportunity Outlook 2030” which delivers detailed overview of the global refrigeration oil market in terms of market segmentation by type, refrigerant type, application, and by region.

The global refrigeration oil market is anticipated to gain a significant CAGR over the forecast period, i.e., 2021–2030. On the basis of refrigerant type, the market is segmented into chlorofluorocarbon (CFC), hydrofluorocarbon (HFC), and others, out of which, the HFC segment is anticipated to hold the largest market share over the forecast period, owing to the increasing use of HFC in the new generation appliances, as it is less polluting, and has lower ozone depletion potential. On the basis of application, the market is segmented into refrigerators, deep freezers, air conditioners, automotive AC, and others, out of which, the air conditioners segment is estimated to garner the highest revenue during the forecast period, owing to the rising sales and manufacturing of ACs on a global level, with more than 90 million units sold in 2018, backed by the raised living standards, and high personal disposable income of the middle class.

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The global refrigeration oil market is estimated to grow on the back of growing demand for consumer appliances, such as AC, refrigerator, and deep freezers. The growing food & beverages industry is estimated to drive the growth of the market, as there is an increased demand for freezers and refrigerators to store perishable food items, such as, sea food, dairy products, and fruits and vegetables. Establishment of new food outlets, super markets and cold storages is estimated to increase the demand for refrigeration oil, which, in turn, is expected to drive the market growth. Similarly, the rising need for deep freezers to store drugs and vaccines is estimated to boost the market growth. The growing production of automobiles, with more than 61 million vehicles sold in 2020, is further projected to boost the growth of the market.

Regionally, the global refrigeration oil market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in North America region is foreseen to garner a major share over the forecast period on the back of presence of major consumer electronics manufacturers in the region, along with the growing manufacturing industry. Moreover, the increasing demand for automobiles among the masses, backed by high disposable income, is estimated to boost the market growth. In 2020, the total sale of commercial and passenger cars crossed 3.5 million, in the U.S. The market in the Asia Pacific region is projected to garner highest CAGR over the forecast period, on the back of industrial development, including manufacturing and chemical industry, in the region. Moreover, Asia Pacific region is the largest market for air conditioners, backed by the hot and humid climatic conditions. Japan is one of the major markets for ACs, as more than 90% households use them. This is expected to significantly boost the regional market growth.

The Increasing Demand for Electronic Appliances to boost the Market Growth

Refrigeration oil is used to lubricate the condenser in the electric appliances, such as, air conditioners, freezers, refrigerators, and ac systems in automobile. Increasing demand for these appliances, in various end-user industries, including, healthcare, food & beverages, and automotive industry, is estimated to drive the growth of the global refrigeration oil market.

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However, strict regulations for using fluorocarbon refrigerant system, due to its impact on environment, is expected to operate as key restraint to the growth of the market over the forecast period.

This report also provides the existing competitive scenario of some of the key players of the global refrigeration oil market which includes company profiling of ENEOS Corporation, BASF SE, Idemitsu Kosan Co., Ltd., Chevron Corporation, Shell International B.V., China Petrochemical Corporation (SINOPEC), Exxon Mobil Corporation, Lubrizol Corporation, Petroliam Nasional Berhad (PETRONAS), and FUCHS PETROLUB SE. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global refrigeration oil market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.