U.S. Automotive Aftermarket Size Worth $86.2 Billion By 2025

The U.S. automotive aftermarket size is expected to reach USD 86.2 billion by 2025, registering a 1.8% CAGR from 2019 to 2025, according to a new study by Grand View Research, Inc. The market is expected to grow owing to the rising adoption of automotive technologies such as exhaust and safety technologies coupled with other aspects influencing vehicular performance. The market is estimated to remain innovation-led with the introduction of new chemicals and metals that provide cost-efficiency and weight reduction in automobiles. In addition, the increasing vehicle parc and vehicle age in the U.S. are expected to contribute to the growing demand for replacement parts, thus driving market growth in the country.

Rising disposable income in the U.S. is creating a positive growth outlook for the sales of passenger cars. The increasing demand for aftermarket parts is directly proportional to the growing sales of passenger cars. Moreover, factors such as developing infrastructure and increasing adoption of modern lifestyle across the country are contributing to the growth of automotive aftermarket. Technological proliferation and high investments in R&D by automakers are expected to further drive demand for automotive aftermarket components over the forecast period. Furthermore, increasing trade activities of goods and materials via road transportation are expected to fuel the demand for heavy commercial vehicles. This, in turn, is likely to result in the high demand for products such as tires, towing, wheels, and other miscellaneous accessories, thereby contributing to the market growth in future.

Efforts taken by vendors to make aftermarket products available in adequate quantities and improve the quality of recycled products have contributed to the high demand for alternative parts such as engines; door assemblies; transmissions; sheet metal products such as fenders, trunk lids, and hoods; bumpers; and lights assemblies. In addition, maintaining a high inventory level and wide distribution network allows higher fulfillment rates, which is also boosting the sales of alternative parts. However, the increasing adoption of hybrid and electric vehicles is hampering the growth opportunities for automotive aftermarket components, mainly exhaust components. As a result, the threat of substitutes for aftermarket parts is expected to remain high over the forecast period.

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https://www.grandviewresearch.com/industry-analysis/us-automotive-aftermarket

Further key findings from the report suggest:

The rise in sales of automobiles, increased purchasing power, and improved standard of living are expected to drive growth for the automotive aftermarket industry.
Increasing consumer awareness regarding environment protection and the use of environment-friendly products with minimum carbon footprint deliver positive growth prospects for the market
The tire segment is anticipated to dominate the market by 2025 on account of frequent changing of tires in comparison to their automotive component counterparts
The automotive aftermarket is shifting toward the automation of various functions and processes as automation increases accuracy, enhances efficiency, improves workplace safety, and reduces human errors
The trend of combining Industry 4.0 with information technology and operational technology has resulted in a landscape governed by supply chain digitalization, creating a sustainable impact on the automotive aftermarket industry

Super Abrasives Market Worth USD 10.4 Billion By 2025

The global super abrasive market size is anticipated to reach USD 10.4 billion by 2025, exhibiting a CAGR of 6.3% over the forecast period, according to a new report by Grand View Research, Inc. The market growth is majorly driven by the increasing use of diamond in grinding wheels for precision and machining tools.

The demand for precision and machining tools is driven by increasing production of motor vehicles and construction activities. In the construction industry, the product is used to manufacture drilling, sawing, and cutting tools to machine concrete, bricks, and stones. As per the Institution of Civil Engineers, the global volume of construction output is expected to grow by 85% by 2030 with the U.S., China, and India being the major contributors. This is likely to boost the utilization of super abrasives over the coming years.

The product is used as a grinding tool in the manufacturing of automotive components such as steering mechanism, injection systems, gear shaft, and cam/crankshaft to provide smooth finishing of components. Increasing production of motor and electric vehicles is anticipated to boost the demand for the product in the market over the coming years. The diamond segment is anticipated to register a CAGR of 5.7% over the forecast period owing to the growing demand for precision tooling from automotive and aerospace industries.

The market is characterized by a large number of local and global players. Major companies are acquiring local dealers/manufacturers and are entering into partnerships with major end users to continuously supply products. For instance, in February 2016, Saint-Gobain Abrasives entered into a partnership with Detroit Speed, an automotive component manufacturer, to promote its Norton brand. The move is projected to aid the former increase its consumer base. Asahi and Tyrolit, in November 2018, formed a business alliance in Europe and Asia to expand their product portfolio for electronics, bearings, and gearing industries. This move has allowed Asahi Diamond Group to enhance its portfolio in bearing & gearing industry.

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https://www.grandviewresearch.com/industry-analysis/super-abrasive-market

Further key findings from the report suggest:

Construction segment is expected to witness a CAGR of 5.8% owing to the increasing demand for cutting, drilling, and sawing tools
The North America market accounted for a revenue share of 11.9% in 2018 with the growing manufacturing sector, especially in the U.S.
The super abrasives market in Europe is expected to grow at a CAGR of 4.3%, in terms of revenue, over the forecast period owing to ongoing construction projects in Russia, Poland, and Western European countries
Major players are adopting strategies such as capacity expansions, mergers, and acquisitions to cater to growing demand.

Brazil Palm Oil Market Size Worth $2.17 Billion By 2025

The Brazil palm oil market size is expected to reach USD 2.17 billion by 2025, as per a new report by Grand View Research, Inc. It is anticipated to register a CAGR of 13.6% during the forecast period. Factors such as increasing utilization in food application coupled with the ascending consumption of palm oil as a raw material for edible oils is expected propel the growth.

Brazil is expected to witness an increase in the consumption of palm oil owing to high demand from biodiesel and lubricants sectors. However, declining socio-economic conditions and hazardous environmental effects associated with palm oil are expected to restrain the growth of the market over the forecast period.

Palm oil cultivation requires suitable climatic conditions and is anticipated to mainly witness growth in the countries from equatorial region. The government of Brazil created an association call Abrapalma to encourage palm oil cultivation and is also offering incentives to endorse investments in the sector.

Manufacturers are looking for better alternatives to reduce the total production costs of palm oil to gain higher market share and thus the competitive rivalry is anticipated to be high. Thus, new entrants are likely to observe high competition from the established players.

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https://www.grandviewresearch.com/industry-analysis/brazil-palm-oil-market

Further key findings from the report suggest:

Rising demand for crude palm oil as it is a rich source of tocotrienols with high vitamin E and antioxidant content, is likely to boost growth of the segment
Palm kernel cake segment is expected to register the fastest CAGR owing to its potential use in lactating cow feed by supplementing adequate amount of protein extracts
Rising demand from cosmetics and surfactants sector on account of rise in discretionary spending power is likely to continue being a macro driver for the market
Lubricants segment is expected to register the fastest CAGR owing to the ability of the product to reduce carbon dioxide emissions
Manufacturers are focusing on mergers and acquisitions to increase the client base and to market presence

Tobacco Packaging Market Worth $21.7 Billion By 2025

The global tobacco packaging market size is anticipated to reach USD 21.7 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 3.3% over the forecast period. Growing consumption of tobacco and cigarettes among the young consumers is one of the major factors for the growth of the market. Another factor driving the market is increasing number of female smokers. Increase in stress and workload is also one of the factors boosting the market growth.

Increase in penetration of the tobacco products in China is expected to provide growth opportunities for the global market over the forecast period. Introduction of tobacco that is smokeless for chewing and increasing penetration of low cost tobacco products and e-cigarettes in the country are the key drivers. Moreover, increasing popularity of flavored tobacco products among the millennial population is fueling the growth of the market worldwide.

Secondary packaging held the largest market share in 2018. Increasing penetration of e-cigarettes and cigar in the social gatherings has driven the segment. Moreover, growing popularity of premium tobacco products among the young consumers is expected to have a positive influence on the market growth over the forecast period. Increasing number of cigar lounges in developed countries is fueling the demand for premium cigar products. This, in turn, is expected to increase the segment demand over the forecast period.

Paper boxes are increasingly used in tobacco packaging owing to rising penetration of environmental friendly packaging in the industry. It is a cost-effective alternative to plastic, and hence is gaining popularity in many areas. Lightweight and easy to carry factors are also boosting the segment growth.

Manufacturers are focusing on eco-friendly packaging. For instance, one of the prominent vendors, Amcor has increased its spending on developing bioderagable packaging and is expected to launch them by the end of 2025. Manufacturers are focusing on strategies such as mergers and acquisitions to increase their products offerings. In September 2017, Japan Tobacco Group acquired Mighty Corporation to expand its product portfolio and geographic reach.

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https://www.grandviewresearch.com/industry-analysis/tobacco-packaging-market

Further key findings from the study suggest:

By product, secondary packaging led the market and accounted for 60.3% share in 2018. The primary segment is expected to expand at the fastest CAGR of 3.7% over the forecast period
By material, paper boxes dominated the global market with an overall revenue share of 67.8% in 2018
Asia Pacific dominated the global tobacco packaging market in 2018 and accounted for 31.5% share of the total revenue. This trend is projected to continue over the next few years
The industry is highly competitive with the main players including Amcor Ltd.; British American Tobacco; Philip Morris International Inc.; and ITC
Various manufacturers are concentrating on new product launches, capacity expansion, and technological innovation to estimate existing and future demand patterns from upcoming product segments.

Industrial Diamond Market Worth $2.19 Billion By 2025

The global industrial diamond market size is expected to reach USD 2.19 billion by 2025 registering a CAGR of 2.9%, according to a new report by Grand View Research, Inc. Advancement in smart mining technologies coupled with increasing production of synthetic diamonds are projected to drive the market. Industrial diamond has substantial applications in the automotive industry. It has been reported that around 1.5 carats of industrial diamond is used in the manufacturing of every automobile in U.S. Automotive components require precise and stable manufacturing processes. The operations, such as grooving, boring, grinding, turning, milling, and honing, can be performed with the help of industrial diamond tools. According to the International Organization of Motor Vehicle Manufacturers, global sales including passenger cars and commercial vehicles accounted for 93.6 million in 2017, an increase of 2.3% from the previous year.

The advancement in the production and management system is helping the growth of the automotive industry. Increasing competition along with digitization and globalization is changing the face of the industry. Key companies are developing innovative and advanced techniques to trace the diamonds. Recently, De Beers announced successful tracking of 100 high-quality diamonds through an emerging technology known as blockchain. Also, in April 2018, Helzberg Diamonds, Asahi Refining, and LeachGarner collaborated for a project to track and authenticate diamonds. Moreover, smart mining technology is expected to trigger new growth opportunities for the industry. Data analytics software along with the use of precise GPS systems and Internet of Things (IoT) can also help to boost the productivity of mining operators.

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https://www.grandviewresearch.com/industry-analysis/industrial-diamond-market

Further key findings from the study suggest:

Natural type segment is anticipated to reach USD 341.1 million by 2025 owing to increasing product demand from cutting, drilling, and polishing applications
In terms of revenue, electronics application is projected to be the fastest-growing segment at a CAGR of 3.5% from 2019 to 2025
Construction application led the global industrial diamond market in 2018 and will maintain its leading position throughout the forecast years due to increasing construction activities and infrastructure development in APAC and MEA
In terms of revenue, North America is projected to be the second fastest-growing regional market over the forecast period
Some of the key companies in the market are ALROSA; De Beers Group; Industrial Diamond Laboratories, Inc.; Scio Diamond Technology Corp.; and Morgan Advanced Materials

Hydrocolloids Market Size Worth $13.61 Billion By 2025

The global hydrocolloids market size is expected to reach USD 13.61 billion by 2025, as per a new report by Grand View Research Inc. It is anticipated to expand at a CAGR of 6.5% during the forecast period. Hydrocolloids find application in radiology as a suspending agent, suppositories, slow release capsules, emulsions, surgical lubricants, and as a carrier of topical medicaments, which is expected to drive the market growth.

Rapid urbanization coupled with improved consumer lifestyle with more emphasis on healthy, diet-friendly, nutritious, and natural products is fueling the demand for convenience and packaged foods, which, in turn, is likely to propel the product consumption. Additionally, growing consumer awareness regarding the benefits of nutritional food is further propelling the demand for hydrocolloids in developing countries, such as China and India.

Europe and North America are projected to play a substantial role even after losing their market share to Asia Pacific and Latin America. Asia Pacific and Latin America are expected to accomplish the highest gains in near future. A large number of health-conscious individuals are embracing a healthier lifestyle with the foremost importance on the healthy food choices offered by various food and beverage companies.

The key players in the hydrocolloids market are inclined towards new product launches, which is expected to augment the growth. In August 2018, Cargill announced its plans to invest USD 150 million in Brazil production facility to keep up with the increasing demand for pectin.

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https://www.grandviewresearch.com/industry-analysis/hydrocolloids-market

Growing demand for processed food due to the convenience is expected to positively impact hydrocolloid market in the forthcoming years
Processed foods market has seen healthy growth in recent past and is projected to witness high growth in near future
The ability of hydrocolloids to reduce the fat content by dispersing water and acting as a fat replacer in food products is expected to propel their demand as consumers are increasingly preferring low-fat and low-calorie food products
The shortage of resources and vulnerability to seasonal changes cause volatility in the raw material pricing is propelling manufacturing costs and limiting the market growth
Rise in population coupled with rising disposable income, translates into an enhanced standard of living, particularly in the developing regions. This is anticipated to result in a steady growth in demand for specialty and processed food products

Quillaia Extract Market Size Worth $1.05 Billion By 2025

The global quillaia extracts market size is anticipated to reach USD 1.05 billion by 2025, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 5.2% over the forecast period. Increasing consumption of natural ingredients, changing food habits, and wide range of applications of the product in industries such as food and beverage, medical, and personal care among others are anticipated to drive the growth.

Quillaia extract is largely used for manufacturing cream soda, cider, puddings, baked goods, and frozen dairy products among other food and beverages. The extract is used in different quantities in different products. For instance, in carbonated beverages, the concentration of quillaia extract is upto 200mg/kg wherein in noncarbonated drinks, it is used upto 500mg/kg. Food and beverage held the largest market share of 36.45% in 2018, owing to the rising demand for foam stabilizing agents. The product is water soluble foaming compound that helps maintain temperature, taste, and shelf stability, which drive the application.

Increasing demand for organic and natural skincare products is anticipated to bode well for the quillaia extract market. One of the market players, Desert King offers different types of quillaia extract, namely, Andean Pure Quillaia, Andean Q Ultra, Andean Q Ultra Organic, Andean QDP Ultra Organic, Andean QE, and Andean QD for cosmetic application.

Liquid quillaia product type is anticipated to expand at a CAGR of 5.3% over the forecast period. The liquid extract is smooth and textureless making it suitable for curries and sauces. It is widely used as a foaming agent in soft drinks such as ginger beer, root beer, and cream soda, and in cocktails among other drinks. It has sweet and pungent smell and turns into foam upon shaking, hence it finds application in personal care application. For instance, Puracy, uses liquid quillaia extract in its natural conditioners, shampoos, and skin care products.

Asia Pacific held the largest market share of over 32% in 2018, due to high product consumption in Australia and New Zealand. According to a report by the Bureau of Chemical Safety, the mean quillaia extract intake in Australia was 2.3mg/kg per day and 1.1 mg/kg per day in New Zealand. The quillaia extract is also known as China bark extract, as the quillaia trees are native to China. The product is widely used in food products like soy sauce. High demand for organic and natural cosmetics in India, China, and Japan will boost the regional growth.

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https://www.grandviewresearch.com/industry-analysis/quillaia-extracts-market

Further key findings from the report suggest:

Food and beverage segment held the largest market share of 36.45% in 2018 and is anticipated to continue leading during the forecast period
Liquid product type is anticipated to expand at a CAGR of 5.4% over the forecast period
Asia Pacific held the largest share of the global quillaia extract market in 2018
Leading market players are Garuda International, Naturex, Ingredion, Stan Chem International, Desert King, Baja Yucca, and Chile Botanics among others

Polyphenols Market Size Worth $2.08 Billion By 2025

The global polyphenols market size is expected to reach USD 2.08 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 7.2% during the forecast period. Growing awareness about effectiveness of polyphenols in treating diabetes, cardiovascular diseases, high cholesterol, and cancer, along with rising number of applications in the food and beverage and pharmaceutical sectors, is anticipated to drive product demand over the forecast period.

Polyphenols extracted from grape seed have antioxidant properties, which play a significant role in beauty products and nutritional skin supplements. These antioxidants bind to the skin collagen and stimulate flexibility, elasticity, and cell health, thus resulting in youthful skin. Rising awareness of herbal products instead of synthetic drugs, coupled with increasing demand for anti-aging products, is expected to boost demand for polyphenols.

Technological advancements enable manufacturers to enhance the benefits of polyphenols in curing various diseases. Moreover, development of cost-effective technology to extract polyphenols from plants, herbs, fruits, and vegetables for human and animal consumption is expected boost market growth over the coming years.

Grape seed polyphenols dominated the global polyphenols market in 2018. Grape seed extract has essential therapeutic properties, including managing poor circulation, nerve damage, cholesterol, macular degeneration, anticancer, and atherosclerosis. According to the United States Food & Drug Administration (FDA), grape seed is more effective than chemotherapy for the treatment of cancer. Grape seed extracts are anticipated to experience high demand on account of surging consumption in the food and beverage, cosmetics, and healthcare industries.

In terms of volume, Asia Pacific emerged as the largest regional market, followed by North America. China, India, South Korea, and Japan are anticipated to witness major product demand in the coming years on account of increasing health awareness among the growing diet-conscious population, seeking functional benefits in every kind of food they consume. Surging population and awareness about polyphenol benefits on human health are expected to drive the market in Asia Pacific.

North America is anticipated to emerge as the second-largest regional market owing to increasing disposable income of consumers, resulting in growing consumption of healthy food and beverages in countries such as U.S. and Canada. Changing demographics and lifestyles, rising health concerns, favorable research studies, and technological developments are anticipated to drive the market over the forecast period.

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https://www.grandviewresearch.com/industry-analysis/polyphenols-market-analysis

Further key findings from the study suggest:

In terms of revenue, the grape seed product segment is expected to expand at a CAGR of 7.3% over the forecast period
In terms of volume, the functional beverages application segment dominated the market with a share of 36.4% in 2018
In U.S., development of preventive healthcare and government focus on improving the national health standard are some of the significant factors contributing to industry growth
Some of the key industry participants present in the market are Cargill, Inc.; Chr. Hansen; Ajinomoto; Archer Daniels Midland (ADM); HERZA Schokolade GmbH & Co. KG; Indena S.p.A.; Martin Bauer Group; and Frutarom Ltd.

Bicycle Market Size Worth $75.47 Billion By 2025

According to a recent report published by Grand View Research Inc.,increase in cycling activity as a form of leisure, coupled with awareness regarding its health benefits have largely favored the market expansion.

According to a report, “Bicycle Market Size, Share & Trends Analysis Report By Product (Mountain, Hybrid, Road), By Technology (Electric, Conventional), By End User (Men, Women, Kids), By Region, And Segment Forecasts, 2018 – 2025”, published by Grand View Research, Inc. The global bicyclemarket size is expected to reach USD 75.47 billion by 2025, registering a CAGR of 6.1%,as per a new report by Grand View Research Inc.Bicycles are preferred for short distance commutes and can save fuel costs unlike vehicles. Moreover, growing traffic congestions and limited parking spaces are prompting people to reconsider bicycles as a primary commute option.

Rising emphasis on the use of environment friendly modes of commute for short distances by the governments across the world is projected to positively influence market growth. The fact that bicycles do not emit any pollutants is anticipated to drive their demand in near future.

The road bicycle is estimated to emerge as the fastest-growing segment during the forecast period. Road bicycles happen to be the most basic bicycles that people prefer owing to their ease of use. These cycles do not require any sophisticated equipment required by mountain and hybrid bicycles. This factor is anticipated o bode well for growth over the forecast period.

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https://www.grandviewresearch.com/industry-analysis/bicycle-market

Bicycle Market Highlights

The Covid-19 pandemic emerged as a boon for Indian bicycle market as AlphaVector bicycle sales soar up five times as compared to pre-pandemic times.
In February 2021, IAA Mobility announced its first bicycle brand partners to present e-bikesa vital part of modern mobility. The summit will present a wide variety of suppliers such as IoT-tech, connectivity, tires and general hardware manufacturers.
February 2021 marked the introduction of a revamped Bicycle Commuter Act in the U.S. to ensure pre-tax commuter benefits for bike commuters similar to those who drive and park, and take public transportation to work.
Mountain bicycle segment is will expand at a CAGR exceeding 4% in the coming years, on account of its growing popularity and the increasing media coverage for racing events Bicycle Market Segmentation

Compression Therapy Market Size Worth $3.96 Billion By 2022

According to a report by Grand View Research, the rising prevalence of diabetes across the globe, increasing instances of sports injuries, and growing incidences of venous disorders, are some of the major drivers for the expansion of the global compression therapy market.

The global compression therapy market size is projected to reach USD 3.96 billion by the year 2022, advancing at a CAGR of 5.2% during this period, as per a report by Grand View Research Inc. The growing prevalence of chronic venous disorders such as deep vein thrombosis, leg ulcers, lymphedema and venous insufficiency is expected to serve as the key driver for the industry. Compression therapy helps in increasing blood flow activity in the lower limbs of the body, while supporting the veins and decreasing swelling in the affected area. In this technique, pressure is applied to the legs and ankles by wearing stockings specifically designed for this purpose. These products have witnessed heavy demand among the target population, thus solidifying the market growth.

The increasing incidences of sports and adventure related injuries are a major factor supporting the positive development of the market. A number of high-profile athletes, along with amateurs, have integrated compression therapy into their schedule after a match or event. The increasing cases of diabetes globally are also projected to support the market demand for compression therapy, as diabetic patients usually suffer from swelling in legs, ankles and feet. Rising geriatric population base is identified as a driver for the compression therapy market owing to the high susceptibility of this age group towards developing chronic venous disorders. Furthermore, advancements like use of mobile intermittent pumps and inelastic boots are likely to lead to better compliance and efficacy in patients, thereby, leading to wider usage of this therapy.

The compression therapy market can be broadly segmented on the basis of technology and product. The technology segment consists of static and dynamic methods of compression therapy. Notable products that are in demand in the market include compression pumps, compression stockings, compression bandages, and compression tapes. These products are used in a number of areas such as diabetic patients, sports athletes, and people suffering from venous disorders, among others. Notable industry players such as Medi GmbH & Co., Paul Hartmann AG, Julius Zorn GmbH, ArjoHuntleigh, SIGVARIS, Medtronic Plc, and BSN Medical GmbH, are involved in launching new and innovative products in the market, as a means to expand their regional and global revenue share.

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https://www.grandviewresearch.com/industry-analysis/compression-therapy-market

Further key findings suggest:

The increased prevalence of venous leg ulcers in the US has been responsible for the growth of the regional compression therapy market; as per the NIH, the nation prevalence of ulcers is 600,000 annually, which costs USD 2.5 to 3.5 billion to the US healthcare system
As per data from the US Department of Health and Human Services, there are approximately 8.6 million injuries taking place in the country each year. The use of compression methods helps in reducing swelling and lessening pain
Diabetic patients often suffer from slow-healing or non-healing wounds, which in extreme cases, may lead to amputation of the affected limb; the use of compression therapy helps to improve circulation in the affected part, thus speeding up the healing process for the patient
The static technology compression therapy accounted for a revenue of over USD 1.75 billion in 2014, as they are extensively used due to easy application and removal as compared to the other traditional therapies
The dynamic therapy segment is expected to witness substantial growth over the forecast period; dynamic devices mimic the lymphatic system and promote fluid movement, thus offering more effectiveness in wound healing
With regards to product, the compression bandages segment dominated the compression therapy market in 2014 with a revenue of over USD 1.2 billion, with their ease of application, reduced slippage and less bulkiness driving demand among consumers
The North American compression therapy market dominated the industry with over 45% of revenue share in 2014, owing to the increasing geriatric population base, rising prevalence of diabetes, and high awareness about venous diseases in the region
Asia Pacific is expected to show healthy growth over the coming years, as a consequence of rapidly improving healthcare infrastructure in the region which has improved the access for compression devices
Market players are involved in innovative product launches as a means to grab higher market share; for example, in June 2020, medi USA announced the launch of a new product in its flat-knit compression portfolio, the ‘mediven cosy 450’
In March 2020, Sigvaris announced the Coolflex product series, which utilizes Spacer Fabric, renowned for its cooling and vapor transfer features. The product line offers products for the calf, arm, and foot