Market Insights Archivi - Business NewsWire

Corrugated Boxes Market Will Reach USD 359.6 Billion By 2030

The global corrugated boxes market is projected to be worth USD 359.6 billion by 2030, growing at a CAGR of 4.6%. This development can be credited to the increasing requirement for light in weight and easy packing solutions across diverse sectors.

The surge in the acceptance of corrugated boxes in comparison to other padding solutions, like self-retention packaging, sealing boxes, and plastic boxes, is primarily because of the rising concerns over their sustainability in the value chain.

As corrugated material used is simple to recycle, it is experiencing a high requirement for wrapping applications. Furthermore, retail-ready packaging saves time and labor expenses. Other benefits comprise its ecological nature and lesser price compared to other items, which continue to propel the industry worldwide.

Usually, packing is likely after use, which has directed to a huge surge in the quantity of waste in landfills, therefore resulting in damaging ecological effects. However, builders have now initiated using cutting-edge technologies for slicing and compaction, which aid in the reprocessing of such boxes.

In 2022, the C category held the largest Corrugated Boxes Market share, at approximately 40%. This flute kind discovers high utilization in corrugated boxes for shipping aims, mainly for the padding of glass items, dairy items, furniture, and motorized components.

For example, industry companies offer these boxes for the wrapping of engines, windshields, metallic body pieces, car headliners, and airbags. Such boxes can be loaded and have a better compression forte as they feature a corrugated medium that is rather thick.

One of the major reasons propelling the industry is the development of the wrapping sector worldwide. The surge in the requirement for manufactured goods, ranging from television sets and smartphones to consumable items, like candies, has boosted the requirement for corrugated material, particularly corrugated boxes, for storing and transport drives, credited to their high physical strength and crush resistance.

Furthermore, with the surge in the standard of living, particularly in Brazil, China, and India, there has been a surge in the requirement for items like electronics, cosmetics, and food and beverages. Corrugated boxes are typically suggested for shipping such items, as they are pressure-resilient and more solid than regular cardboard wrapping.

Last Mile Delivery Market Will Reach USD 121.2 Billion by 2030

The last mile delivery market was USD 27.1 billion in 2022, and it will reach USD 121.2 billion, propelling at a 20.6% compound annual growth rate, by 2030.

The progression of the industry is mainly attributed to the surging utilization of omnichannel retailing, as well as the significant increase in internet penetration in emerging economies, including Thailand, Indonesia, and India.

In 2022, the B2B category, based on service, dominated the industry, with approximately 50% share. This can be attributed to the fact that it provides numerous advantages to online retailers to attract B2B consumers, for instance, decreased delivery time, easy options of payment, doorstep delivery of heavy parts, heavy discounts on bulk buying, and decreased management expenses.

The B2C category will observe faster growth in the years to come. This is because of the shifting customer purchasing behavior, growing technical knowledge about the utilization of online platforms and smartphone apps, and, development in organized and omnichannel retailing.

Based on application, the e-commerce category will observe the fastest last mile delivery market growth, propelling at approximately 20% CAGR, in the years to come. This is because of the growing customer base, customers’ expectations for fast and free shipping, demographic shift, and competitive pricing. Therefore, businesses are now focusing on overcoming the challenging delivery schedule of conventional logistics.

A major trend being observed in the industry is the implementation of autonomous vehicles for delivery. AI is a major technology for autonomous driving systems, as it is the only tech that allows real-time and reliable object recognition around automobiles. The implementation of autonomous vehicles will significantly decrease delivery expenses, therefore driving the e-commerce sector growth.

In 2022, the North American industry accounted for a significant share, generating USD 9 billion. This is because of the high rate of adoption of advanced technologies in the continent, as well as the rising rate of efficiency expected by last-mile delivery.

Automotive Manufacturing Equipment Market Is Driven by the Increasing Number of Electric and Hybrid Vehicles

The automotive manufacturing equipment market is around USD 6,810.5 million in 2023, and it will advance at a rate of 11.3% by the end of this decade, to touch USD 14,260.4 million by 2030.

This is credited to the fast-growing vehicle requirement and the growing acceptance of robotics and automation technologies for coping with the booming automotive requirement.

In the tech world, industries are shifting from conformist methods to cutting-edge production technologies, such as ML and AI. These technologies are there in the entire automotive industry, helping it to meet the requirement for vehicles on time.

These similarly help control systems and communicate with other apparatus so there is no effect on the work. Numerous organizations have accepted AI and advanced technologies, because of their several benefits, to advance quality, help meet the requirement on time, boost the supply chain, and operate functions easily.

The robot category will have the fastest growth, about 12.5%, in the near future. In the vehicle manufacturing sector, robots are the most significant part of manufacturing processes because they work in the best way with enhanced task management. Also, robots can continually do tasks with quality, high consistency, less error rate, and greater productivity.

The automatic category will grow at a higher rate in the automotive manufacturing equipment market, of about 11.5%, in the years to come. In the automobile industry, automatic technologies are accepted extensively because of their efficiency of work, high quality, and supreme productivity.

Similarly, automatic manufacturing technologies can achieve tasks without the participation of humans, as a result of which the production cost is reduced with supreme production output. Additionally, these technologies support in making the production facilities more advanced and efficient.

Growing Automotive Sector Boosts Automatic Number Plate Recognition System Market

The automatic number plate recognition system market is estimated to generate USD 3,219.9 million in 2023, which will touch USD 6,010.8 million, propelling at a 9.5% compound annual growth rate, by 2030.

The growth of this industry is because of the increasing usage in agencies, such as parking, toll plazas, traffic management, and police force; the growing automotive sector; and the rising trend for pay-per-use roads.

Moreover, the high capital funding mainly in developing countries, coupled with the increasing acceptance of advanced systems and technology by different governments to control traffic, also boosts the industry.

Automatic Number Plate Recognition System Market

In 2022, the fixed category, based on type, was the largest contributor to the industry, and it will remain the largest throughout this decade. This can be because of the increasing utilization of these systems for traffic management and the rising transformation in road infrastructure.
In 2022, the hardware category, based on component, was the higher contributor to the automatic number plate recognition system market, and it will remain the higher during this decade. This can be because of the arrival of IoT devices into hardware and the speedy incorporation of hardware parts into cloud-based software solutions.

The electronic toll collection category, on the basis of application, is likely to advance at the highest rate during this decade. This is primarily because of the fact that it is an effective tool for tolling systems.

In 2022, the government category, based on end user, led the industry, and it will remain leading throughout this decade. This can be because of the rising count of government infrastructural projects, coupled with the increasing acceptance of developed technologies by public safety agencies.

Navigating the Dicyclopentadiene Market Landscape

The dicyclopentadiene market will touch USD 1,373.9 million, propelling at a 5.3% compound annual growth rate, by 2030.

The growth of the industry is mainly because of the increasing utilization of dicyclopentadiene for resins, polymers, and various other specialty chemicals. Furthermore, because of its extremely reactive nature, it can be utilized as an intermediate for the production of various performance chemicals utilized in packaging, automotive & marine, and building & construction industries.

In recent years, the UPR category, based on type, accounted for the largest industry share, and it will generate USD 644.8 million, advancing at approximately 5.4% CAGR, by 2030.

The UPR grade is a key element in the production of coatings, varnishes, paints, rubber, pesticides, adhesives, insecticides, and other products. This is attributed to the fact that it comprises lesser trimers and co-dimers, displays enhance color characteristics compared to other resins and has better functional and mechanical properties.

Whereas, the high purity category will observe the highest growth, of 5.7% in the years to come. This is because of the increasing requirement for specialty & fine chemicals.

The hydrocarbon resins category, based on application, will observe the fastest dicyclopentadiene market growth, of approximately 5.7%, in the years to come. The main applications of hydrocarbon resins are labels, hot melts, and PSA tapes. These intermediates are also utilized as a tackifier during the production of products such as printing inks, paints, adhesives, rubbers, and coatings.

Based on industry, the building & construction category accounted for the largest share, in the past few years. Furthermore, it will generate a revenue of USD 328.7 million, propelling at a 5.3% CAGR, by 2030.

In the past, APAC accounted for the largest dicyclopentadiene industry share, and it will advance at a 5.4% compound annual growth rate throughout this decade. This is because of the increasing requirement for this chemical in the plastic and resin sector in this continent.

Enhancing Textiles: Insights into the Textile Finishing Chemicals Market

The global textile finishing chemicals market size stood at USD 8,897.2 million in the past, and it is expected to advance at a compound annual growth rate of 3.8%, to reach USD 11,983.2 million by 2030.

Demand for textiles with improved functionality is rising, including moisture management, antimicrobial qualities, fire resistance, and stain resistance. The market demand for these chemicals is driven by the vital role that textile finishing chemicals play in supplying these functions.

Environmental concerns and rising regulatory demands have prompted the creation of environmentally benign and long-lasting textile finishing agents. Customers are seeking textiles with less of an impact on the environment, which is driving the market acceptance of safer and greener finishing chemicals.

New and improved finishing chemicals have been created as a result of developments in textile chemistry and technology. Innovative formulations and application methods are enabling manufacturers to more effectively and efficiently attain desired textile qualities.

Advanced textiles with qualities like heat resistance, chemical resistance, and durability are needed in sectors including automotive, aerospace, and healthcare. The development of this category is fueled by textile finishing chemicals, which are essential in giving technical textiles their qualities.
APAC is one of the dominant regions in the textile finishing chemicals market.
APAC has a substantial presence in the global textile sector, with India, Bangladesh, and China serving as important centers for the industry. The substantial textile manufacturing industry in the area fuels the demand for textile finishing chemicals.

APAC provides a good environment for manufacturing, distinguished by cost benefits, skilled labor, and infrastructure support. This draws in textile producers, which boosts output and subsequently raises sales of textile finishing products.
Several APAC governments have put laws and programs into place to aid the development of the textile sector. These factors, which have a favorable effect on the market for textile finishing chemicals, include incentives for textile producers, research and development initiatives, and infrastructural development.

The rising demand for functional fabrics, environmental concerns, and technical advances are expected to propel the growth of the worldwide textile finishing chemicals market. The market’s dominance by APAC is attributable to its robust textile sector, hospitable production environment, and government assistance.

Solid Foundations: Insights into the Polymer Concrete Market

Construction sector is on the boom left, right and center, and polymer concrete is mainly used as a construction material all over the world.

Polymer concrete gained popularity among folks in 1970s, but it was introduced one or two decades before that. It has also developed over the years; the polymerized monomer is now replacing Portland cement as a concrete binder.

Polymer concrete is much better than traditional concrete making the use of Portland cement, the advantageous properties of polymer concrete include high impact and compressive strength, low permeability, fast curing, and chemical and corrosion resistance. Due to these properties, it is put to use in specialized applications.

Defining Polymer Concrete?

The polymeric resins used for producing this concrete are epoxy resin, methacrylate, polyester resin, furan resins and vinylester resin. Attributable to their affordability, decent mechanical properties, and easy accessibility, unsaturated polyester resins are the first choice of the people. Which resin to use depends on the use and whether and chemical resistance, and cost.

How it is Put to Use?

As a result of the characteristics and a global increase in the requirement for a harder, stronger, and more durable building material, polymer concrete is getting popular. The advantages of making use of polymer concrete because of its benefits for the environment are too much to be overlooked.

Where is it Used the Most?

There is a lot of population growth all over the world, and it is the APAC region which is the home to two of the most populated countries of the world. To provide housing for the increasing population, construction activities are ion the rise, and so there is a major use of polymer concrete in this region.

There is a use of polymer concrete in other regions of the world as well, such as North America and Europe, but no region beats the dominance of the Asia Pacific region in this regard.

Summing Up the Scene

It is not just about the growth of the industries, but the requirement of replacing existing concrete, an increase in consciousness about the use of polymers in concrete, along with the expansion of newer and more affordable products will give an additional boost to the demand for polymer concrete.

Sustainability Unleashed: Insights into the Bio-Based PET Market

It is literally impossible to give away the use of plastics from our lives. Being aware of how harmful plastic is for environment. But having said that, it is possible to recycle the plastic, and keep it in circulation for long, and not dumping it into the landfills or water bodies.

Bio-based PET is one such kind of plastic, which is completely biodegradable. Coca-Cola is a company, which introduced a complete PET bottle to be used for packing soft-drinks. Let us know why, this kind of plastic is a popular choice

PET is a prevalent choice for plastic bottles due to the fact that, it has an unmatched strength -to-weight ratio, decreasing costs, savings on transportation as opposes to the bottles of glass, and because of it being safe and reliable in the packing of consumer products.

From the beginning of the process of manufacturing, PET is a strong, yet flexible material allowing for its usage in more than a few diverse types of plastic bottles. It is significant to note that each bottle is tested and prudently monitored for meeting safety standards.

With the use of compounds for example PET bottle containers that save energy through manufacturing, are inexpensive for making and are also biodegradable and sustainable.

Advantages of PET Bottles

PET plastic bottles are recyclable. With progressions in manufacturing tech, these bottles are considerably lighter, decreasing the amount of plastic.
PET packaging makes use of significantly less energy during the process of manufacturing as opposed to glass packaging. This comprises water and fossil fuels.
PET creates a barrier with the outdoor environment letting little or no oxygen passthrough. It doesn’t react with food or water, making it an able solution for packaging consumable goods
PET plastic does not break or shatter, just like the glass counterparts. This makes it a safe option than a glass bottle. This likewise makes it safe and inexpensive to transport once filled
Since it is easy to produce PET into diverse shapes and much cheaper than glass, it makes it relatively easy for brands to have a characteristic packaging design for identification and promotion of their products, everything from water, to soft drinks and more, and eventually help the product show up on the shelf of the store.

One of the key concerns from the people has been the “bleeding” of chemicals from plastic bottles into the food products, they are consuming. As part of its valuation, the FDA keeps a close eye on the transfer of plastic components and further materials to the runny contents of the bottle, within safe standards.

PET is the widely trusted plastic for consumer goods, particularly for food and beverage packaging, and because of the many benefits of the same, the demand for bio-based PET will continue to grow in the years to come.