Speech Analytics Market Demand, Growth, Trend, Business Opportunities and Research Methodology till 2025

June 14, 2021: IT & Telecom, BFSI are the major industries in which speech analytics is used. As these industries are growing at a good pace, the global speech analytics market is expected to witness growth in the future. Innovations of solutions are required because of rising demand for risk, compliance management as well as increasing number of contact centers, so these solutions must help companies to understand the changing customer requirements. So this will help to open new roads for the industry for concerned period.

In the U.S., the Dodd-Frank Wall Street Reform in addition to Consumer Protection Act putting pressure on bankers for pulling records of mobile phone transactions so because of this kinds of pressure for protection of intellectual assets for improving efficiency along with agility in operation by using insights in the Voice Of customer (Voc).

Type Insights:

Number of contact centers is using speech analytics solutions all over the world for the applications like compliance management, customer performance management, agent performance management and it also help to gain the market intelligence.

In 2015 the solution segment gained significant market share also it will control the market in the given period. however because of higher adoption it will be expected to witness maturity phase with service segment will gain from this help it for doing well in upcoming nine years.

The service segment is expected to grow at the at rate more than 8 % of CAGR in forecasted period. Services are necessary to manage the extensive portfolio of solutions that market offers which help organization to expand business process to gain competitive advantage.

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Deployment Insights:

50% of the total revenue came from the on-premised employment in 2015.system furthermore data was better controlled by On-premise solutions however this segment might witness a sluggish growth because of high cost of deployment methods, requirement of dedicated IT staff for maintenance, requires high-end IT infrastructure as compared to the cloud deployment.

As a result of this edge cloud based deployment segment gained a considerable share in 2015 this will drive high demand in the forecasted period.IT, BFSI, Media & entertainment will drive the demand for cloud deployment options.SMEs are also getting cost effective solutions from the New firms in the market.

Enterprise Size Insights:

40% of total share came from the SMEs in the year 2015 furthermore it will be expected to grow at a CAGR exceeding 8% in forecasted period. This figure helps to boost speech analytics solution for security systems applications which help to improve customer experience.

Web enabled services, applications help Small and Medium-Sized Business (SMBs) to run their business efficiently. Also cloud analytics will help to increase in the product demand among SMEs.

End-Use Insights:

Telecom sector accounted over 15% share in 2015 and expected to grow more in the forecasted period. the industry using speech analytics has many advantages like hold over infrastructure, ease of issues resolving, increase in productivity, Decrease in stress, time as well as money saving.

Similarly It industry will witness growth because of adoption of speech analytics tool in business process outsourcing (BPO) industry. Speech analytics demand will further enhance because of advancement in the technological tools

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Regional Insights:

20% of the total share came from North America in 2015 because of the presence of large number of vendors in the region especially in US. however due to high adoption of the technology in this region, it will show slow growth over the forecasted period.

On the other hand Asia Pacific region is expected to perform good and witness high growth at a CAGR of over 7%.due to high growth rate in this region the leading players in the industry will offer companies in the region innovative solutions.

Competitive Insights:

Only few players are present in this market worldwide in which the major players are Avaya Inc., Nice Systems, verint Systems, Call Miner, nexidia.Genesys.these players are investing large amount in R&D to enhance accuracy along with technological Capability of the product.

Also to gain competitive advantages over the other players in the market they are using tools like strategic alliances. Acquisition of Nexidia by Nice Systems to expand its usage in critical business is a key example.

Market Segment:

Type Outlook (Revenue, USD Million; 2014 - 2025)

        • Solution

        • Service

Deployment Outlook (Revenue, USD Million; 2014 - 2025)

        • On-premise

        • Cloud

Enterprise Size Outlook (Revenue, USD Million; 2014 - 2025)

        • Small & Medium Enterprise

        • Large Enterprise

End-Use Outlook (Revenue, USD Million; 2014 - 2025)

        • BFSI

        • Telecommunication

        • IT

        • Retail

        • Healthcare

        • Government

        • Hospitality

        • Others

Regional Outlook (Revenue, USD Million; 2014 - 2025)

        • North America

                • U.S.

                • Canada

        • Europe

                • UK

                • Germany

                • France

        • Asia Pacific

                • China

                • India

                • Japan

        • Latin America

                • Brazil

                • Mexico

        • Middle East & Africa

                • Saudi Arabia

                • UAE

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Smart Glass Market Analysis, Regional Outlook, Business Landscape and Future Prospects till 2025

June 14, 2021: The global Smart Glass Market size is likely to reach USD 9.98 billion by 2025. Smart glass is also known as magical glass or switchable glass. Smart glass changes its transmission properties when heat, light or voltage is applied. Smart glass is used in windows, doors, skylights, and partitions in residential and commercial buildings. Smart glass helps to reduce the cost of heating, lighting and air conditioning.

The market growth is associated with the capacity of the glass to transform light and adjust heat depending on the external environmental conditions. Building owners started displaying an inclination towards adopting this technology, after realizing the long term benefits attributed to energy efficiency.

The industry is achieving heights owing to the development of strict regulations with respect to efficiency of energy and large-scale urbanization in developing countries. Elevated investments in the construction of smart glass in connection with the creation of industrial-scale production capacity, has significantly added towards market growth. Expanding consolidations among technology provider and supplier are nourishing the progress of smart glass as per a wide range of application areas.

Factors like growing usage in marine, aviation and power generation are encouraging industry extension. Growing adoption of green initiatives such as eco-friendly and green buildings, non-electric technologies such as thermochromic, etc. are the factors that are driving the growth of the industry. In the replacement market, shifting demand towards active smart glass from passive smart glass design is adding stress to the acceptance of the products.

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Due to the rising recognition of the advantages of smart glass over a plain glass in the body of automobiles and airplanes, there has been a growth in the adoption of smart glasses in the automobile and aircraft industries. In addition, development of creative solutions had led to the growth of smart windows in the architectural sector. Government support and initiatives are also adding to the industry demand.

Technology Insights

On the basis of technology, the market is segmented into SPD (Suspended Particle Devices) Electrochromic, PDLC, and Thermochromic. SPD held a market share of around 40% in 2016. SPD is an electrochromic glass that can be tuned, manually or automatically to control the light, heat, and glare entering the premises. The growth of SPD glasses can be traced to its high electricity saving capabilities.

Electrochromic glass applies the electrochromism principle, which allows the materials to change the color or opacity when a burst of charge is applied. Electrochromics and SPD are used commonly in automotive and architecture applications. Thermochromic is used for power generation application.

Due to the increased attention on the use of ‘Green Energy,' the North America and European regions are predicted to come up as the leading markets for liquid crystal (LC) smart glass. Besides, the high durability and quick light control capacity of liquid crystal smart glass is anticipated to increase the demand throughout the forecast period.

Application Insights

On the basis of application, smart glass market is segmented into Architectural, Transportation and Consumer Electronics. The Transportation segment dominated the market with a revenue share of 45% in 2016. It is anticipated to come up as the most advantageous segment due to the growing acceptance of this technology by premium and medium-sized car manufacturers. The enormous tuning and fast-switching features of smart glass facilitate to reduce unwanted glare and light thus allow user to appreciate the glare-free view. The heat-blocking features help in improving the fuel efficiency and reducing the carbon emissions in vehicles.

Also, automotive OEMs (original equipment manufacturer) are highlighting to lower both the CO2 emissions and energy consumption. To fulfill this, producers are creating solutions such as anti-heat glass and glazing solutions. The increasing penetration of luxury automobiles in the Asia Pacific region as well as increased income levels of the audience are the major drivers for the growth of the industry in automotive applications. Similarly, in the aerospace sector, several OEMs including The Boeing Company, Beechcraft Corporation, Airbus SAS, Bombardier Inc. and Embraer S.A. are transitioning towards electronically dimmable windows.

The construction sector is supposed to be promising sector due to its higher rate of growth with continuous investments in smart technology. In the Middle Eastern region, a majority of high towers and skyscrapers have integrated smart glass for exterior structure fabrication so as to enhance reduction of heat and light transmissions thus maintaining internal ambiance.

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Regional Insights

North America dominated the smart glass market in 2016 with a share close to 35%. Favorable regulations and instructions have led to the growth of these products in the region, thus enabling overall saving of energy and reduction the maintenance costs which leads to a positive impact on the growth of the market.

The European Union territories and the U.S. governments are planning to regulate the adoption of smart glass-incorporated electronics equipment and have directed their transport departments toward the same. Furthermore, the existence of key participants and rising production of automotive are fueling the market growth.

The industry is expected to be directed by the acceptance of premium products, such as laminated glazing, and the legislation of energy conservation regulations to build in mature markets such s Europe and North America. In the case of developing markets, growing construction sector is anticipated to provide growth avenues.

Competitive Insights

The major participants in the industry include Saint-Gobain S.A., Asahi Glass Co., Ltd, DuPont, and Corning Incorporated. The industry is dominated by a few major players who provide niche solutions for end-use applications.

Market Segment:

Smart Glass Technology Outlook (Revenue, USD Million; 2014 - 2025)

    • Electrochromic

    • Polymer Dispersed Liquid Crystal (PDLC)

    • Suspended Particle Devices (SPD)

    • Thermochromic

    • Photochromic

Smart Glass Application Outlook (Revenue, USD Million; 2014 - 2025)

    • Architectural

    • Transportation

        • Automotive

        • Aircraft

        • Marine

    • Consumer electronics

    • Power generation

Smart Glass Regional Outlook (Revenue, USD Million; 2014 - 2025)

    • North America

        • U.S.

        • Canada

    • Europe

        • Germany

        • UK

    • Asia Pacific

        • China

        • Japan

    • Latin America

    • MEA

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Cardiac Biomarkers Market Latest Global Insights, Growth Factors, Challenges and Industry Trends till 2024

June 11, 2021: The global cardiac biomarkers market size was estimated at USD 4.7 billion in 2015. Rising prevalence of cardiovascular diseases globally and escalating popularity of POC testing are some of the main factors contributing toward the market growth.

Cardiac biomarkers are the substances released in the bloodstream due to heart related damage and stress. as a result of insufficient blood supply to the heart. The detection of the biomarkers is used for the identification of various heart conditions such as, acute coronary syndrome, acute myocardial infarction, ischemia, congestive heart failure.

High prevalence of cardiovascular diseases worldwide has resulted into a significant growth in the cardiac biomarkers market. According to the WHO, about 17.5 million people globally suffer from some heart condition. The increasing preference to the use of the cardiac kits and more awareness among the people regarding the application of the cardiac biomarkers is expected to augment the market in the near future.

Type Insights

Based on the types, the cardiac biomarker market is classified into the troponin, creatinine- kinase MB, Natriuretic peptides- b-type Natriuretic peptide and N terminal pro b–type Natriuretic peptide, myoglobin, and others. Troponin tests are in large demand for the detection of the AMI with efficient diagnosis of cardiovascular disorders. This growing demand has resulted in tremendous market growth of this segment.

Natriuretic peptides held the second largest share in 2015. The increasing incidence of the cardiovascular disorders has led to the surge in demand of these products, further attributing to the growth of the segment.

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Application Insights

Based on application, the market is segmented into ACS (acute coronary syndrome), AMI (acute myocardial infarction), and CHF (congestive heart failure). The cardiac biomarkers have major application in the diagnosis of ACS and thus, this segment accounted for largest revenue generating sector. According to American Heart Association (AHA), the Americans are estimated to spend around USD 150 billion for treating ACS posing a huge social and economic burden.

Followed by ACS, myocardial infarction held the second largest market share in 2015. The increasing number of the geriatric population has led to the growth of the sector, in this segment, as the elderly population is more prone to cardiac-related ailments. In addition, the growing unhealthy, sedentary lifestyle and alcohol consumption has further augmented the chances of the heart problems, hence, boosting the cardiac biomarker market growth.

End User Insights

The end user segment is fragmented into two types namely, laboratory testing and point of testing (PoC). The laboratory testing held the largest revenue share in 2015. Increasing incidence and prevalence of heart-related diseases is expected to flourish the segment growth.

The PoC testing segment is projected to witness growth at the highest CAGR during the forecast period. The rising demand for the PoC segment has led to the growth of the segment. Moreover, the rising awareness in the developing countries regarding the use of PoC testing and its application in cardiac biomarkers has nurtured the market growth.

Regional Insights

The regional market considered in the cardiac biomarkers sector are North America, Europe, Asia Pacific, Latin America, and MEA. North America is estimated to account for the largest revenue share in 2015. The high prevalence of the cardiac disorders in the North America has boosted the application of cardiac biomarkers in North America. Moreover, the increasing popularity of the PoC testing has added to the growth of the market.

The Asia Pacific region is anticipated to witness fastest growth owing to large population base with target disease. The high prevalence of the cardiovascular diseases has augmented the cardiac biomarker products in the Asia Pacific region. The major emerging markets such as India and China attributes for the major growth in the cardiac biomarker segment in the Asia Pacific region.

Competitive Insights

The major players in the cardiac biomarker market include Roche Diagnostics; Siemens Healthcare; Alere, Inc.; Beckman Coulter, Inc.; Thermo Fisher Scientific, Inc.; Bio-Rad Laboratories, Inc.; Becton, Dickinson and Company; bioMérieux SA; and Randox Laboratories Ltd.

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The new product launches and increasing development in the products are major growth trends in the cardiac biomarker market. The rising demand for efficient and rapid diagnostics of cardiovascular diseases is the key contributing factor to the sector growth. Alere triage panel, manufactured by Alere, Inc., is a combination of three major biomarkers namely, CK-MB, myoglobin, and troponin I. The test is handy due to efficient detection of the cardiovascular disease and, being a combination product, there is a great demand for the test in the market.

Market Segment:

Cardiac Biomarkers Type Outlook (Revenue, USD Million, 2013 - 2024)

        • Troponin

        • CK-MB

        • Natriuretic peptides - BNP and NT-proBNP

        • Myoglobin

        • Others

Cardiac Biomarkers Market Application Outlook (Revenue, USD Million, 2013 - 2024)

        • Acute Coronary Syndrome

        • Myocardial infarction

        • Congestive heart failure

        • Others

Cardiac Biomarkers Market End-use Outlook (Revenue, USD Million, 2013 - 2024)

        • Laboratory Testing

        • Point of Care Testing

Cardiac Biomarkers Regional Outlook (Revenue, USD Million, 2013 - 2024)

        • North America

                • U.S.

                • Canada

        • Europe

                • Germany

                • UK

        • Asia Pacific

                • China

                • India

        • Latin America

                • Brazil

                • Mexico

        • MEA

                • South Africa

                • Middle East

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Protective Relay Market Business Growth, Comprehensive Analysis, Growth Rate, Opportunities, Scenario And Top Key Player till 2024

June 11, 2021: In the year 2015, global protective relay market was valued at $2590.1 million and is expected to grow at CAGR of more than 5% over the forecast period. Increase in number of power and infrastructure projects in the Asia-Pacific region along with increased investments in the T and D network worldwide is considered as the reason for the rise in the demand of protective relays.

"Asia Pacific expected to witness highest adoption over the forecast period"

Asia Pacific region accounted for highest market share and about 30% of the total revenue in the year 2015. Extensive investments in the modernization of infrastructure along with renewable sector are the major factors that are expected to drive the demand of protective relays over the forecast period.

Due to the economic progress of the countries such as India and China the rate of mounting infrastructure is at all-time high. This rise in infrastructure is expected to fuel the growth of protective relay market over the forecast period. Summer Olympics that are scheduled in the Japanese land in the year 2020 is also a key factor in the rise of infrastructure consequently driving the protective relay market.

"Power sector is anticipated to emerge as the fastest growing end-use industry"

Power Sector is forecasted to remain the highest and most rapidly growing end-use segment with CAGR of over 5% from 2016-2024. Improved rate of industrialization along with upgradation in the capacity to produce power globally has resulted in growth for demand of relays. Other major factors such as the increasing population and increasing per capita income due to higher development rates has raised the level of electricity consumption in the Asia-Pacific region.

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"Medium voltage accounted for highest market share in 2015"

In the year 2015 medium voltage sector consumed over 40% of the total market share. Increase in application of protective relays in power substations and systems is the reason for such high consumption. The demand for infrastructure and electricity is increasing in the nations such as UAE, Japan, Saudi Arabia, China and India due to rapid increase in the population relocation. Hence the increase in demand for electricity is expected to drive the market over the next 8 years.

"Criticality of protection of cables & lines expected to drive demand for feeder protection"

Feeder protection segment accounted for over 20% of the total revenue in the year 2015. The increasing need of protective relays used to protect the power transmission lines is estimated to boost the demand of protective relays over the next few years.

Chances of failure in the power transmission lines are more as compared to other factors due to their attributes such as length which is excessive to operate in open environment. This the reason lines and cables assembly needs dedicated protection that is promptly provided by protection relays.

"ABB, Siemens, Schneider and GE held significant market share in 2015"

The protective relay industry is consolidated and highly competitive with few key market players consuming over 60% of the total revenue share. Important players such as Siemens & Schneider along with GE-Alstom dominate the market, making it difficult for new players to enter the market. Innovation, new product development and product diversification are the strategies that are being implemented by the key players to remain competitive in the industry.

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Market Segment:

Protective Relay Voltage Outlook (Revenue, USD Million; 2014 - 2024)

        • Low

        • Medium

        • High

Protective Relay Application Outlook (Revenue, USD Million; 2014 - 2024)

        • Feeder Protection

        • Generator Protection

        • Bus-Bar Protection

        • Capacitor Bank Protection

        • Breaker Protection

        • Transformer Protection

        • Others

Protective Relay End-Use Outlook (Revenue, USD Million; 2014 - 2024)

        • Infrastructure

        • Industrial

        • Government

        • Power

        • Others

Protective Relay Regional Outlook (Revenue, USD Million; 2014 - 2024)

        • North America

                • U.S.

                • Canada

        • Europe

                • U.K

                • Germany

        • Asia Pacific

                • China

                • India

                • Japan

        • Latin America

                • Brazil

                • Mexico

        • Middle East & Africa

                • Saudi Arabia

                • Kuwait

                • UAE

                • Bahrain

                • Oman

                • Qatar

Get in touch

At Million Insights, we work with the aim to reach the highest levels of customer satisfaction. Our representatives strive to understand diverse client requirements and cater to the same with the most innovative and functional solutions.

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Waterborne Coatings Market Latest Global Insights, Growth Factors, Challenges and Industry Trends till 2022

 June 11, 2021: The global Waterborne Coatings Market size is estimated to reach USD 146.11 billion by 2022 and is anticipated to grow substantially owing to infrastructure development in commercial and residential sector. Demand for waterborne coatings was the highest from the global architectural industry for various applications such as floor finishes, wood vanishes, and facade paints.

Growing demand for eco-friendly, non-hazardous and low Volatile Organic Compounds (VOC) are expected to drive demand for these products. Owing to presence of stringent regulations in the U.S. and European region for these products, VOC content is one of the major issue for the manufacturers.

Also, owing to the increasing disposable income in Latin-America, Middle East & Africa, and Asia-Pacific, demand has grown for decorative paints, renovation activities, and construction sector, projecting to drive the market over the forecast period.

These coatings contain 80% of water with solvents and glycol ether. The market is expected to upsurge moderately owing to its remarkable Superior properties such as non-corrosive, hardness, stain resistant, adhesion, and flexibility of these products compared to its substitutes are an added advantage. Growing market for copiers, fax machines, computers, and printers are also some of the major drivers for the industrial sector.

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In cold climatic condition, adhesive properties of the coatings minimize which a major drawback where its substitutes have an advantage. However, the industry players have been focusing in research and development activities to find solution for these. Another factor hampering the growth of the market is excessive foam production, which occurs mainly in manufacturing and transportation of the coatings.

The gradual shift of the automotive manufacturers to shift their production facilities in owing to the availability of cheap but skilled labor towards developing economies of Thailand, China, India, and Indonesia is anticipated to steer growth of the coatings industry.

Resin Insights:

Acrylic resins are the largest coating type consumed in 2014, owing to its wide applications in automotive refinishes, paints, medical devices, sealants, adhesives and architectural market. End-use industries prefer these resins owing to the low cost of production with excellent durability and weatherproof properties.

Polyurethane (PU) resins find a wide range of applications in high-quality finishes in indoor and outdoor coatings. These resins are anticipated to be the fastest growing resin type over the forecast period. The demand for these resins has expanded for end-use industries such as the coil and automotive markets. They are majorly used for developing prototypes for motorsports vehicles, light-weighted vehicles, and formula one cars.

Other resins include epoxy and PVC have shown their demand owing to their properties such as weather resistance, adhesion, and chemical resistance. They have found application in automotive interiors, office machines body, electrical insulations, and industrial finishes.

Application Insight:

The major application of this market includes general industries, automotive OEM, architectural, protective coatings, automotive refinish, and industrial (which includes metal furniture, automotive components, and HVAC). Architectural is the largest application segment and is expected to dominate the industry over the forecast period. Application of coatings in this segment are lacquers and vanishes, for decoration and protection of door and window frames.

Steel and aluminum industries are showing interest in coil coatings, further driving the market globally. Recently the market has been diversified for marine, wood, packaging and general industries as well.

Regional Insights:

Europe has emerged as the largest regional market in 2014 and is anticipated to grow moderately over the forecast period. Increasing demand in this region is particularly for growing demand for the automotive finishes and architectural anticipates.

Owing to rapid constructional development in emerging countries of Asia-Pacific and The Middle East, the market is expected to create lucrative opportunities for the industry participants over the forecast period.

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Competitive Market Share Insights:

The global market is highly competitive with many industrial participants in U.S., Europe, Asia-pacific and The Middle East. Key market players are BASF, Axalta, Berger Paints India Ltd, Akzo Nobel NV, The Sherwin-Williams Company, The Valspar Corporation, and Nippon Paint Holdings Company Ltd.

Asian Paints Limited, Hempel A/S, Masco Corporation, Meffert AG Farbwerke, Kansai Paint Co., Ltd., Diamond Vogel, Brillux GmbH & Co, DAW Caparol, Tikkurila Oyj are the other market participants in the industry.

BASF offers the wide range of application including household paints, coil coatings, powder coatings, road marking coatings, architectural finishes, pigment pastes, and paints for vehicles, machinery, & non-ferrous materials.

Market Segment:

Resin Outlook (Volume, Kilo Tons; Revenue, USD Million; 2012 - 2022)

    • Acrylic

    • Polyurethane

    • Epoxy

    • Alkyd

    • Polyester

    • PTFE

    • PVDC

    • PVDF

    • Others

Application Outlook (Volume, Kilo Tons; Revenue, USD Million; 2012 - 2022)

    • Architectural

    • General Industrial

    • Automotive OEM

    • Metal Packaging

    • Protective Coatings

    • Automotive Refinish

    • Industrial Wood

    • Marine

    • Coil

    • Others

Regional Outlook (Volume, Kilo Tons; Revenue, USD Million; 2014 - 2025)

    • North America

        • U.S.

        • Canada

    • Europe

        • Germany

        • UK

        • France

        • Rest of Europe

    • Asia Pacific

        • China

        • India

        • Japan

        • Rest of Asia Pacific

    • Central & South America (CSA)

    • Middle East & Africa (MEA)

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Crop Protection Chemicals Market Growth Factors, Strategies And Highlights of The Market till 2022

June 10, 2021: The global crop protection chemicals market is expected to cross USD 90.09 billion in the forecast period. Crop protection chemicals industry is driven by factors such as rise in necessity for enhanced crop yield to suffice the food demands for rapidly growing population. In addition, inclination toward bio-pesticides when compared to synthetic pesticides is likely to contribute to the market growth in the forecast period. The market witnesses several opportunities in the form of rise in demand for food across various parts of globe. However, land scarcity and limited food supply are likely to disturb the market growth in the forecast period upto 2022.

Crop protection chemicals for agriculture have not only played a significant role in production of food to support food demands but also lower the risk of infestation and infectious disease transmitted by micro-organisms and insects. Evolution in technologies such as chemicals, automated high-throughput, crop genetics, formulations, and smart agriculture is likely to offer new tools in the discovery and progress of agrochemicals.

Commercially, crop protection chemicals are also known as fungicides, herbicides, and insecticides. Pests being the living organisms can cause injury or possible damage to crops, stocked food, and livestock. They can significantly lessen the potential of farming, raise production costs, and to make matters worse, pests can even destroy an entire cropping system. Hence, there are multiple ways to control the pests and the objective is to minimize the damage and keep pest population below the economic damage.

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At times, alternative methods are followed in place of protection chemicals. For instance, physical and mechanical control issued for weed control. Biological control methods are used to lessen the potential of pest species. Genetic control methods are used for plant breeds with pest resistant features. The crop protection chemicals market is segmented into product, application, and region. Geographical segmentation for crop protection chemicals industry include North America, South America, Europe, Asia-Pacific, Middle East and Africa.

European crop protection market leads in the global scenario owing to high demand for vegetable and fruits. Middle Eastern regions are likely to gain a strong market position in the crop protection chemicals market due to extensive farming and agricultural practices. Asia-Pacific’s crop protection chemicals industry is expected to gain a prominent position due to smart agricultural practice; demand for food on regular basis, and rise in technology with respect to agriculture.

The key players in the crop protection chemicals market include Marrone Bio Innovations, BASF SE, Nufarm Ltd, DuPont, BioWorks, FMC Corp, Natural Industries, Monsanto, Syngenta AG, Sumitomo Chemical, Valent Biosciences and Novozymes A/S.

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Market Segment:

Crop Protection Chemicals Product Outlook (Volume, Kilotons; Revenue, USD Million, 2012 - 2022)

    • Herbicides

    • Fungicides

    • Insecticides

    • Others

Crop Protection Chemicals Application Outlook (Volume, Kilotons; Revenue, USD Million, 2012 - 2022)

    • Fruits & vegetables

    • Cereals

    • Maize

    • Cotton

    • Rice

    • Others

Crop Protection Chemicals Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2012 - 2022)

    • North America

    • Europe

    • Asia Pacific

    • Rest of the world

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Chemical Indicator Inks Market Size, Trends, Company Profiles, Trends and its Emerging Opportunities till 2024

June 10, 2021: Global market of chemical indicator inks is primarily been driven by vigorous demand in surgical instrument markets for sterilization processes. It is anticipated to be valued at USD 83.8 million by the end of 2024. The demand is been increased due to growing medical and healthcare industries. The market estimates to grow at CAGR over 8% over the forecasted period.

The market predominantly covers through water based chemical indicator inks which is more than 60%. Rising R&D expenditure by the companies of this market will fuel the market to grow in forecasted period.

The demand in the market has been increased due to occurrence of diseases in hospitals which have further led to sterilization of medical products such as medical pouches, surgical bags, IV and blood bottles & containers.

Product Insights

Water based inks are expected to grow exponentially at a CAGR of 8% from 2016 to 2024. Inks usage in steam sterilization processes is accounted to cross 40% of the overall industry in 2015. Revenue generated from steam sterilization was more than USD 15 million. UV cured chemical indicator inks market made USD 18 million in 2015. These are different from water based or solvent based. Rotogravure printing process covered over 15% of the overall market revenue in 2015. The industry share will increase by 2024 owing to increasing environmental regulators for VOC emission.

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Application Insights

Tapes have the largest market share in terms of revenue following up with pouches, tags& labels, sterile bags. Expansion of healthcare industry has brought tremendous rise in this market. IV & blood containers are utilized in large quantity mainly by hospitals, nursing homes, ambulatory facilitators; rise of these will ignite the growth of the market.

Ethylene oxide sterilization is mainly used for medical and pharmaceutical products. Rotogravure printing comprises of chemical based indicator inks that are mostly suitable for printing. Also, market share for this segment is moderate because of its cost.

Regional Insights

North America has the highest market share in terms of revenue, in 2015, it was more than USD 15 million. Also, aging population in the region is the main reason for rising demand for healthcare facilities, increasing the market size for chemical indicator inks. APAC indicates rapid growth over healthcare industries which will fuel the product market at a CAGR of 8%.

Latin America currently shows minor share. Emerging markets of Brazil & Mexico have given a hint of their potential by showing rapid growth in healthcare industries.

Competitive Insights

The global product market is competitive with some major players in the industry which manufacturers chemical. 3M, NiGK Corporation, Tempil, Riken Chemical, STERIS, Terragene SA, North American Science Associates Inc. (NAMSA), GKE Gmbh and Crosstex are some the prominent industry share contributors. Many mergers & acquisition and new product development within the market are the major trends in the company.  

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Market Segment:

Chemical Indicator Inks Product Outlook (Volume, Tons; Revenue, USD Thousand, 2013 - 2024)

        • Solvent-based

        • Water-based

        • UV cured

Chemical Indicator Inks Sterilization Process Outlook (Volume, Tons; Revenue, USD Thousand, 2013 - 2024)

        • Steam

        • Ethylene Oxide

        • Vaporized hydrogen & plasma

        • Formaldehyde

        • Others

Chemical Indicator Inks Printing Process Outlook (Volume, Tons; Revenue, USD Thousand, 2013 - 2024)

        • Flexographic

        • Rotogravure

        • Screen

Chemical Indicator Inks Application Outlook (Volume, Tons; Revenue, USD Thousand, 2013 - 2024)

        • Sterile bags

        • Sterile bottles

        • IV & Blood Containers

        • Prefillable Syringes

        • Pouches

        • Tapes

        • Tags & labels

        • Others

Chemical Indicator Inks Regional Outlook (Volume, Tons; Revenue, USD Thousand, 2013 - 2024)

        • North America

                • U.S.

        • Europe

                • Germany

                • UK

        • Asia Pacific

                • China

                • India

        • Latin America

                • Brazil

        • MEA

Get in touch

At Million Insights, we work with the aim to reach the highest levels of customer satisfaction. Our representatives strive to understand diverse client requirements and cater to the same with the most innovative and functional solutions.

Contact Person: 

Ryan Manuel

Research Support Specialist, USA

Email: ryan@millioninsights.com