Daily Market News

  The global multi-factor authentication (MFA) market was valued at approximately USD 14.28 billion in 2022 and is projected to grow at a compound annual growth rate (CAGR) of 14.2% from 2023 to 2030. Multi-factor authentication is a security protocol that requires users to verify their identity through multiple layers of verification before granting access to digital resources or allowing transactions. This method enhances security by combining something the user knows (like a password), something the user has (such as a smartphone or security token), and sometimes even something the user is (like a fingerprint or facial recognition). With the rise in cyberattacks and data breaches targeting sensitive information, the adoption of MFA solutions is becoming essential for organizations across all sectors. Strict regulatory requirements for data protection are also propelling the MFA market, as more industries are required to comply with data privacy standards and implem...

  The global medical plastics market was valued at approximately USD 52.9 billion in 2023 and is forecasted to expand at a compound annual growth rate (CAGR) of 7.4% from 2024 to 2030. This growth is largely attributed to advancements in specialized plastics and plastic composites, which are integral in manufacturing various medical components such as catheters, surgical instrument handles, and syringes. The rising demand for in-house and advanced medical devices is propelling the need for durable, lightweight materials like polyethylene, polypropylene, and polycarbonate, which are increasingly used in medical device manufacturing. Furthermore, the expanding home healthcare sector, which is more cost-effective than hospital-based care, has also significantly increased the demand for medical devices that rely on medical plastics for portability, durability, and safety. According to the most recent U.S. census data, approximately 16.8% of the U.S. population is aged 65 ...

  The global dental 3D printing market was valued at an estimated USD 3.1 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 26.4% from 2024 to 2030. The use of 3D printing in dentistry has rapidly gained traction due to its advanced technology and transformative impact. The design and development of innovative products, such as invisible aligners and advanced prosthetics with aesthetic enhancements, are key factors driving demand for dental 3D printers. The user-friendly nature of 3D printing processes has made it possible for dental professionals to create custom dental products that precisely address the unique requirements of individual patients. This capability boosts productivity, reduces fabrication times, and enhances patient outcomes by providing faster and more comfortable solutions. Additionally, the digitalized workflow of 3D printing helps minimize procedural discomfort and maximizes patient satisfaction by streamlining pr...

  The global aptamers market was valued at USD 1.94 billion in 2022 and is projected to expand with a robust compounded annual growth rate (CAGR) of 24.54% from 2023 to 2030. The rise in interest among researchers in aptamers is driven by advancements in aptamer generation, purification, and targeted drug delivery techniques that kill target cells. Aptamers offer competitive advantages, such as small molecular size, low immunogenicity, cost-effective manufacturing, and fewer side effects compared to antibodies. These advantages are likely to fuel research and development (R&D) in novel aptamer technologies, subsequently propelling the growth of the aptamers market. Despite significant global research efforts, highly effective treatments for COVID-19 remain limited due to extensive genetic mutations of the virus. However, aptamer-based biotechnological approaches present a promising potential in COVID-19 treatment. Aptamer-based diagnostic products are increasingly...

  The global clinical trial supplies market was valued at USD 2.58 billion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 6.5% from 2024 to 2030. Key drivers of this growth include the globalization of clinical trials and the increasing number of biologic and biosimilar drugs in development. Biologic and biosimilar drugs are particularly complex and often temperature-sensitive, necessitating specialized handling and storage throughout the supply chain. The rapid adoption of advanced supply chain management systems, aimed at increasing operational efficiency and managing the high R&D expenditure of biopharmaceutical companies, is expected to further drive growth in this market. As clinical trial supplies represent a substantial portion of R&D costs, streamlining supply chain processes has become a priority for biopharmaceutical firms. Most clinical trials today are conducted in developing regions, where cost savings and access to div...

  The global ceramic matrix composites (CMC) market was valued at approximately USD 3.40 billion in 2022 and is projected to grow at a compound annual growth rate (CAGR) of 12.8% from 2023 to 2030. The increasing demand for materials with high-temperature stability, reduced weight, and exceptional strength is a key driver for this market’s growth. These properties make CMCs highly valuable in demanding applications where traditional materials often fall short. The chemical industry experienced a significant shift in the first half of 2020, as companies were already facing complex, long-term challenges and were further impacted by the economic downturn associated with the COVID-19 pandemic and the concurrent oil price collapse, which influenced the entire CMC market landscape. The high cost of ceramic fibers remains a significant factor impacting market growth. Unlike carbon fiber, commonly used in metal and polymer composites, ceramic fibers are produced in smaller qu...

  The global market for automotive noise, vibration, and harshness (NVH) materials was valued at approximately USD 9.84 billion in 2022, with a projected compound annual growth rate (CAGR) of 5.6% from 2023 through 2030. The primary driver of growth in the NVH materials market is the increasing production and utilization of heavy commercial vehicles across various industries. Noise, vibration, and harshness (NVH) in vehicles, stemming from structure-borne and air-borne sources, can cause passenger discomfort and reduce the longevity of the vehicle. The use of NVH-reduction materials addresses these issues, improving ride quality and enhancing the durability of the vehicle. This has subsequently fueled demand for NVH materials in the automotive sector. Furthermore, automotive manufacturers are increasingly focused on acoustic management and NVH control for both passenger and commercial vehicles to enhance fuel economy, reduce cabin noise, and improve vehicle longevity....

  The global aerogel market was valued at approximately USD 1.38 billion in 2024, with projections for a compound annual growth rate (CAGR) of 17.0% from 2025 through 2030. Aerogels, renowned for being lightweight, highly porous, and effective insulators, are increasingly applied across various sectors such as construction, aerospace, automotive, and electronics. With a continued rise in global energy consumption, the demand for materials that effectively reduce energy loss is pressing. Aerogels meet this demand with their outstanding thermal insulation qualities, making them particularly valuable for building insulation and providing thermal protection in industrial processes. Aerogels are low-density materials that retain unique properties in solid form. Traditionally, they are manufactured through supercritical drying technology, although newer technologies have emerged to enhance efficiency. Aerogels are created by removing liquid from a gel in a way that leaves b...

  In 2023, the global surface disinfectant market reached a value of USD 5.85 billion and is projected to grow at a compound annual growth rate (CAGR) of 7.2% from 2024 to 2030. This growth is driven by several factors, including changing lifestyles in developing economies, a rising awareness among livestock farmers about animal diseases, and the importance of disinfection in livestock farms. Since the COVID-19 pandemic, there has been an increased focus on hygiene and sanitation worldwide, which has led to a surge in demand for surface disinfectants, sanitizers, and cleaning products. This heightened awareness of cleanliness to prevent illness has greatly fueled the demand for products that effectively eliminate germs and viruses from surfaces, positively influencing the market's expansion. Surface disinfectants primarily rely on raw materials that are by-products of the petroleum industry, and manufacturers in Europe, North America, and China are major sources of th...

  The global market for post-consumer recycled (PCR) plastics was valued at USD 10.66 billion in 2023 and is anticipated to grow at a compound annual growth rate (CAGR) of 10.7% from 2024 to 2030. This growth is driven by the increasing sustainability initiatives of food and beverage as well as packaging companies that are transitioning to recycled plastic materials. These sustainability efforts align with the circular economy principles, as more end-users across various sectors adopt PCR plastics to reduce waste and environmental impact. Rising demand in key industries such as packaging, textiles, automotive, and construction further supports this trend. Additionally, technological advancements in recycling processes have led to the production of highly efficient and innovative PCR plastics, making recycling solutions more accessible and impactful. A notable example of this technological advancement occurred in October 2023, when Repsol S.A. and Signode Industrial Gr...

  In 2023, the global pharmaceutical packaging market reached a valuation of USD 139.37 billion and is projected to grow at a compound annual growth rate (CAGR) of 9.7% from 2024 through 2030. This growth is largely driven by the rapid expansion of the pharmaceutical industry, which has seen significant advancements in science and technology in recent years. These advancements are anticipated to continue driving demand, especially in emerging markets like China, India, Saudi Arabia, and Brazil, where pharmaceutical production and healthcare services are expanding rapidly. The United States holds the largest pharmaceutical market share worldwide. Key factors behind this include the nation’s extensive healthcare infrastructure, high per capita income, and significant investments in drug research and development. The rise in generic drugs and improved access to healthcare services in the U.S. are also expected to create promising opportunities for pharmaceutical packagin...

  In 2023, the global permanent magnets market reached a valuation of USD 22.18 billion and is projected to grow at an 8.7% compound annual growth rate (CAGR) from 2024 through 2030. This growth is largely driven by the increasing demand for renewable energy sources like wind and solar power. Permanent magnets play a critical role in enhancing the efficiency of wind turbine generators, a key application area in this sector. Specifically, rare earth magnets such as Neodymium Ferrite Boron (NdFeB) are commonly used in wind turbines due to their high reliability and reduced maintenance needs. In the United States, the demand for permanent magnets is anticipated to grow at a faster rate than that for ferrite magnets, driven by applications in high-tech sectors like robotics, wearable technology, electric vehicles (EVs), and wind energy. Following the 2008-09 economic downturn, the U.S. automotive industry has seen steady recovery, with a growing emphasis on electric vehic...

  In 2022, the global life science analytics market was valued at USD 9.0 billion and is projected to grow at a compound annual growth rate (CAGR) of 7.6% from 2023 to 2030. Analytics is being increasingly adopted across the life science industry, which uses descriptive and reporting analytics for database building and relies on prescriptive and predictive analytics to estimate future trends and outcomes. This shift towards data-driven decision-making is expected to drive market growth. Another significant factor propelling growth is the influence of social media and the internet, which has increased patient engagement and accelerated the adoption of analytical solutions. Life science organizations and healthcare facilities are adopting these solutions to improve clinical, financial, and operational results, aiming to reduce healthcare expenses, a key market driver. Life science organizations are implementing advanced analytics across functions, including supply chain...

  The global smart cities market was valued at approximately USD 748.7 billion in 2023 and is expected to expand at a robust compound annual growth rate (CAGR) of 25.8% from 2023 to 2030. Several factors are driving this growth, including rapid urbanization, the need for efficient management of resources, heightened public safety concerns, and the demand for energy-efficient environments. Additionally, the COVID-19 pandemic underscored the importance of urban resilience and public healthcare, revealing the dependency of global economies on urban infrastructure and emphasizing the potential role of smart cities in safeguarding public health. As a result, many organizations are turning to emerging technologies like the Internet of Things (IoT) and Artificial Intelligence (AI) to address urban challenges. These technologies enable city infrastructure to become more interconnected and responsive, offering real-time solutions for traffic, energy, and healthcare, among othe...

  The global metalworking fluids (MWFs) market, valued at USD 12.17 billion in 2023, is projected to grow at a compound annual growth rate (CAGR) of 4.9% from 2024 to 2030. This growth is expected to be fueled by rising demand for automotive and heavy industry machinery, as well as significant activity in sectors like machinery, metal fabrication, and transportation equipment. These industries are primary drivers of MWF demand, as they rely on these fluids for effective machining and metalworking processes. The production of MWFs involves crude oil as a fundamental raw material. Refined, processed, and blended from crude oil, the base oils in MWFs make up approximately 40% of the total cost of these fluids. Key products like neat cutting oils, soluble oils, and corrosion-preventive oils are developed from this crude oil refining and heating process, which is essential for producing motor oils, lubricants, and MWFs. The MWF market benefits substantially from the growth...

  In 2023, the global masterbatch market size was valued at USD 6.24 billion and is projected to grow at a compound annual growth rate (CAGR) of 6.3% from 2024 to 2030. This growth is anticipated to be driven by the increasing substitution of metal components with plastic in end-use industries such as automotive and transportation, building and construction, consumer goods, and packaging. Plastics are preferred in these sectors due to their versatility, reduced weight, and cost-effectiveness compared to metals, which is expected to fuel demand for masterbatch products over the forecast period. Masterbatch products are available in both solid and liquid forms and are integral in coloring and enhancing various properties of polymers. These products impart key attributes like antistatic, antifog, antilocking, UV stabilizing, and flame retardation qualities to polymers, making them more suitable for a wide range of applications. The product is commonly used with carrier p...

  The global lithium-ion battery market, valued at approximately USD 54.4 billion in 2023, is set to expand significantly, with a projected compound annual growth rate (CAGR) of 20.3% from 2024 to 2030. This growth is driven primarily by the automotive sector, which is poised for notable expansion due to the cost-effectiveness of lithium-ion batteries. The adoption of electric vehicles (EVs) worldwide is anticipated to surge throughout the forecast period, further boosting demand for lithium-ion batteries. The United States led the North American lithium-ion battery market in 2023, largely due to increasing EV sales supported by favorable federal policies and the presence of numerous industry players. U.S. federal policies encouraging EV adoption include the American Recovery and Reinvestment Act of 2009, which offers tax credits for electric vehicle purchases. Additionally, updated Corporate Average Fuel Economy (CAFE) standards have introduced stricter fuel economy ...

  The global identity and access management (IAM) market was valued at USD 15.93 billion in 2022, with expectations to grow at a compound annual growth rate (CAGR) of 12.6% from 2023 to 2030. IAM solutions provide a critical framework that ensures only authorized individuals and roles within an organization can access necessary resources, applications, and tools to fulfill their duties effectively. This system enables organizations to manage user access across various applications without needing administrator-level access for every single app, simplifying user management and boosting security. With the rise in IoT and AI technologies, heightened awareness around regulatory compliance, and increased digital platform reliance, the demand for IAM solutions is anticipated to grow significantly over the forecast period. With the rapid rise of cloud adoption and advanced digital technologies, instances of cyber fraud and other malicious activities are increasing. Consequen...

  The global vertical farming market was valued at USD 6.92 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 20.1% from 2023 to 2030. This rapid growth is driven by the increasing adoption of eco-friendly farming methods for producing fruits and vegetables, as well as the rising demand for urban agriculture due to the unprecedented growth of the global population. Vertical farming involves producing food in vertically stacked layers, typically in warehouses, skyscrapers, or shipping containers. It is often associated with organic foods, which are perceived as healthier, more nutritious, safer, and more environmentally friendly. The growing consumer preference for organic food, along with the increased awareness of its health benefits, influences purchasing behavior, making it critical for producers, policymakers, and suppliers to devise effective marketing strategies. The prevalence of health-related issues, such as obesity and heart...

  The global smart factory market was valued at approximately USD 130.25 billion in 2022 and is forecasted to grow at a compound annual growth rate (CAGR) of 9.8% from 2023 to 2030. The growth of this market is being driven by several critical factors, including an increasing focus on energy efficiency, the need for enhanced manufacturing productivity, and the establishment of advanced manufacturing infrastructures. These drivers are shaping the industry's future and making smart factories more attractive to businesses. Furthermore, the growing adoption of collaborative robots (cobots) and continuous advancements in 3D printing technologies are expected to open new opportunities for the market during the forecast period. A major component of the smart factory market’s growth is the role of artificial intelligence (AI) and machine learning (ML). These technologies are proving to be pivotal in revolutionizing manufacturing processes, as they enable predictive maintenanc...

  The global protein ingredients market was valued at USD 77.69 billion in 2022 and is projected to grow at a compound annual growth rate (CAGR) of 5.8% from 2023 to 2030. The market is gaining significant momentum due to the increasing demand for food products like margarine, cold cuts, bakery items, spreads, yogurt, and milk sausages, all of which are produced using protein ingredients. The rising consumption of these protein-rich products among health-conscious consumers, particularly the elderly, is further fueling market growth. Additionally, manufacturers are innovating and developing various proteins with a broad range of amino acids that serve specific functions, such as promoting satiety, muscle repair, weight loss, and energy balance, which opens up more growth opportunities for the market in the forecast period. The industry has witnessed a notable increase in the consumption of animal-based products recently, and animal protein is expected to see continued...