Isopropyl Alcohol Market Size Worth $4.85 Billion By 2027

The global isopropyl alcohol market size is projected to reach USD 4.85 billion by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of 8.2% from 2020 to 2027. Increasing demand for solvents across a wide range of industries globally is anticipated to remain a key factor favoring growth.

The substance is one of the highly used industrial solvents in industries, such as pharmaceuticals, personal care and cosmetics, paints and coatings, and food industry. The chemical is highly preferred in formulating personal hygiene products, including sanitizers, due to its properties of being an excellent disinfectant that works against viruses, bacteria, and other microorganisms.

Isopropyl alcohol (IPA) is the third largest produced lower alcohol globally, after ethanol and methanol. The key applications of isopropyl alcohol is its utility as a solvent in producing various pesticides and herbicides for the agricultural industry, formulating various surface coatings, and producing antiseptic products for personal hygiene industry. Formulations with 70% concentration of IPA against 30% water is proven to be effective as sanitizers by healthcare organizations and other regulatory authorities worldwide.

The recent outbreak of coronavirus is one of the key factors that induced the need for personal hygiene and safety for humans globally. The global pandemic highlighted the use of IPA in formulating hand sanitizers across North America, Middle East, Europe, and Asia Pacific. The first quarter of 2020 reflected high sales of sanitizers, which directly implied hefty consumption of isopropyl alcohol in the marketspace. Companies such as INEOS and ExxonMobil ramped up their production capacities of IPA induced sanitizers in Germany and other parts of Europe. The future demand is expected to be driven by demand stability of polypropylene, which has been one of the major applications.

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Further key Findings from the Study Suggest:

The automotive & transportation was the largest application segment in 2019 and is likely to expand further at the fastest CAGR during the forecast period
The growth of the segment is attributed to incessant production of vehicles and increasing magnesium content per vehicle
Asia Pacific held the highest volume share in 2019 and is projected to maintain its position during the forecast period
Rapid expansion of the automotive sector and increasing demand for electric vehicles (EVs) are anticipated to remain key drivers for the regional market
Key vendors in the global market are Magontec Ltd.; Magnesium Elektron Ltd.; Ka Shui International Holdings Ltd. By application, the cleaning agent segment is anticipated to expand at a CAGR of 7.3% from 2020 to 2027 based on volume owing to rising demand for disinfectant cleaning formulations
Europe is projected to expand at a revenue-based CAGR of 7.9% over the forecast period due to high demand for sanitizers and personal hygiene products from Germany, Italy, France, and U.K.
Increasing construction spending in Asia Pacific, which accounts for around 46% share of the global construction expenditure, followed by Europe with a 24% share, will lead to high demand for paints and coatings, thereby directly increasing demand for IPA across these regions
The chemical end-use segment is anticipated to reach USD 900.8 million by 2027 backed by rising demand for chemicals, such as methyl isobutyl ketone, methyl isobutyl carbinol, and isopropyl acetate.

Nootropics Market Size Worth $4.94 Billion by 2025

The global nootropics market size is expected to reach USD 4.94 billion by 2025, according to a new report by Grand View Research, Inc. It is projected to register a CAGR of 12.5% during the forecast period. Rising expenditure on wellness and healthcare is anticipated to fuel the growth. In addition, rising awareness regarding mental health among millennials in developing countries including China and India is expected to boost the demand for nootropics.

The memory enhancement application segment led the nootropics market in 2018 and it is expected to continue leading over the forecast period. Increasing consumption of smart drugs to gain a competitive advantage in academic performance is expected to positively influence the growth. Adrafinil, Noopept, Modafinil, Phosphatidylserine, and Phenylalanine Nootropics help improve memory. A significant part of the elderly population with mild Alzheimer’s disease is also prescribed with these medications. In 2018, around 46 million people were suffering from Alzheimer’s disease and dementia across the world. Finland, U.S., Canada, Iceland, and Sweden have the highest population of dementia patients. This factor is anticipated to drive the demand for nootropics.

Asia Pacific is expected to register the fastest CAGR in the upcoming years. Rapid growth of the academic, professional, and sports industries is anticipated to fuel the regional product demand. Rising prevalence of Alzheimer’s disease in the developing countries is expected to widen the scope of demand for nootropics in the forthcoming years.

Key competitors operating in the nootropics market include Accelerated Intelligence Inc.; AlternaScript; HVMN; Onnit Labs, Inc.; Peak Nootropics; Teva Pharmaceutical Industries; Purelife bioscience Co., Ltd.; United Pharmacies; SupNootropic bio co., Ltd.; and Powder City. Product innovation is one of the major business expansion strategies adopted by the market players. Growing demand for natural products is encouraging the manufacturers to invest more in R&D of natural nootropics and to expand their product portfolio.

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

Further key findings from the report suggest:

North America held the largest market share of more than 37% in terms of revenue in 2018
Asia Pacific is expected expand at the fastest CAGR of 18.8% from 2019 to 2025. Hectic lifestyle and fluctuating diet patterns among working population in developing countries is expected to promote the demand for of nootropics drugs
Memory enhancement application held the largest market share of over 30% in 2018, owing to increased consumption of these products among students
Online distribution channel is expected register the fastest CAGR of 14.2% from 2019 to 2025
Accelerated Intelligence Inc.; AlternaScript; HVMN; Onnit Labs, Inc.; Peak Nootropics; and Teva Pharmaceutical Industries are some the major players operating in the nootropics market

Body Dryer Market Size Worth $4.23 Million By 2025

The global body dryer market size is expected to reach USD 4.23 million by 2025, according to a new report by Grand View Research, Inc. It is projected to expand at a CAGR of 4.81% during the forecast period. Rising awareness regarding personal hygiene and high demand for convenience products is expected to drive the growth. Rapid growth of the commercial sector is projected to further fuel the product demand. Rising purchasing power of consumers in developing countries such as China and India is also expected to positively influence the demand for body dryers.

Rapid growth of wellness industry coupled with rising demand for premium hygiene products is expected to drive the market growth. Steady rise in working population along with increasing disposable income is expected positively influence the demand for body dryer. Sharing towels, especially at public and commercial places increases the risk of disease transmission. This factor is expected to fuel the product demand in near future. Rising demand from disabled and elderly people is expected to create growth opportunities for the market in near future. Rising standard of living and demand for smart washroom is expected to fuel the growth further.

Asia Pacific body dryer market is anticipated to witness the fastest CAGR over the forecast period, due to a rise in demand from hotels, spas, and wellness centers in the region. Increasing number of domestic manufacturers to cater to the rising demand for body dryer systems is expected to create growth opportunities for the regional market. Factors such as rising purchasing power of consumers and preference for premium products for personal hygiene are likely to further propel the regional growth.

Rising consumer awareness regarding the advantages of using body dryer is excepted to encourage innovation and new product launches. Major market players include Avant Innovations, Dolphy India Private Limited, Full Body Dryer LLC, Haystack Dryers, Kingkraft, Orchids International, Regal Care Shower Trays Ltd., Tornado Body Dryer, LLC, Valiryo, and AKW Medi-Care Ltd. Key players engage in product development, regional expansions, and joint ventures to gain greater market share. For instance, in 2018, Valiryo started its first joint venture in Germany to open up new markets and develop marketing and sales strategies.

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https://www.grandviewresearch.com/industry-analysis/body-dryer-market

Further key findings from the report suggest:

On floor product segment is projected to ascend at the fastest CAGR of 5.11% over the forecast period
Commercial application segment of the body dryer market held the leading revenue share of 86.33% in 2018
North America held the leading market share of 38.78% in terms of revenue and is projected to continue leading over the forecast period
Asia Pacific is expected to register the fastest CAGR over the forecast period, owing to increasing disposable income of the consumer in countries such as India, South Korea, China, and Japan

Air Fryer Market Size Worth $1.05 Billion By 2025

The global air fryer market size is anticipated to reach USD 1.05 billion by 2025, according to a new report by Grand View Research, Inc. The market is anticipated to register a healthy CAGR of 7.0% over the forecast period i.e., from 2019 to 2025. Introduction of innovative products with improved designs is the key factor driving the growth of this market.

Based on product type, digital air fryer segment held the largest market share in 2018 and will retain its dominant position throughout the forecast years. The segment is also estimated to register the fastest CAGR from 2019 to 2025 due to increasing demand for energy-efficient kitchen appliances. Moreover, availability of advanced products with features, such as touch screen panel, fast preheating, and temperature control knob, is expected to fuel the demand for digital air fryers.

Offline segment held leading market share in 2018. High product visibility and increasing number of retailer stores, such as Walmart, in developing countries including India and China, is main factor driving the growth of this segment. The online distribution channel segment is anticipated to expand at the fastest CAGR from 2019 to 2025. Rising popularity of e-commerce retailers, such as Amazon.com, is the key factor boosting the product sales through online channels.

Moreover, most of the prominent companies have their own websites, which also contributes to the segment growth. Europe was the leading region in 2018 and will retain its dominant position throughout the forecast years owing increasing health consciousness and resultant demand for air fryers. However, Asia Pacific is anticipated to expand at a fastest CAGR of 8.7% from 2019 to 2025.

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https://www.grandviewresearch.com/industry-analysis/air-fryer-market

Further key findings from the study suggest:

Europe is anticipated to be the largest regional market owing to high product demand as a result of rising health consciousness
The digital product segment is anticipated to expand at the fastest CAGR of 7.1% over the forecast period due to rising demand for energy-efficient digital products
Offline distribution channel was the leading segment in 2018 and will expand further due to rising number of retail stores, such as Walmart, across the globe
However, Asia Pacific is anticipated to register the maximum CAGR of 8.7% from 2019 to 2025. High awareness and demand for these products, especially in emerging countries like India and China
Key companies in the air fryer market are Koninklijke Philips N.V.; Cuisinart; SharkNinja Operating LLC; DASH (StoreBound LLC); Breville, Inc.; Havells India Ltd.; TTK Prestige Ltd.; KRUPS; and NuWave, LLC

Electric Hair Clipper & Trimmer Market Size Worth $6.3 Billion By 2025

The global electric hair clipper & trimmer market size is anticipated to reach USD 6.3 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 2.5% over the forecast period. Launch of innovative products with improved design is a main factor driving demand for electric hair clipper & trimmer. For instance, in June 2019, Xiaomi MI launched a beard trimmer in India. Key features of the trimmer include stainless body, corded/cordless usage, improved battery, waterproof, and travel lock. The clipper is especially designed for the Indian market.

Growing trend of beard is expected to fuel demand for electric clipper over the forecast period. Popularity of beard is steadily increasing as it makes men look stylish and sexy and appealing to the potential partner. Sales of razor has been decreasing steadily across the developed countries mainly because people in these countries either opt for full beard look or use electric trimmer. Moreover, consumers in these countries are shifting towards environment friendly products, thus minimizing use of disposable razor. For instance, according to the U.S. Environmental Protection Agency, America produced 2 billion disposable razors and blades. According to a study, in 2018, more than 160 million consumers in U.S. used disposable razors. Such factors are expected to fuel adoption of electric hair clipper over the forecast period.

Cordless products held a leading market share in 2018. These clippers are battery operated, more handy, and accessible to carry around. Cordless clipper is the best for people who love to travel and like to carry their hair styling routine with them. Launch of innovative products, coupled with improved battery life, is a main factor expected to fuel the demand for cordless electric clipper. For instance, in March 2016, Wahl introduced beard only trimmer to support growing facial hair trend. The product is especially designed for trimming beard and is equipped with powerful lithium ion battery.

The offline channel segment held a leading share of 87.3% in 2018. Rising presence of these retailers across the world will increase the product’s visibility and thus, in turn, is expected to have a positive impact on the growth of the market. The online segment is anticipated to expand at the fastest CAGR of 4.1% from 2019 to 2025. Increasing presence of e-commerce retailers in tier II and tier III cities, coupled with introduction of same day delivery services, is expected to boost the sales of these products through online channel. For instance, as of 2019, Amazon Retail India have presence in more than 100 cities and plans to expand in 60 tier II and tier III cities by the end of 2020. Most of the prominent companies also have their own sites, which contributes to the segment growth.

Asia Pacific held a leading market share in 2018. Increasing product visibility, coupled with growing trend of beard among young men, is a main factor expected to boost the demand for the electric trimmer over the forecast period. Middle East and Africa is anticipated to expand at the fastest CAGR of 3.7% from 2019 to 2025. Increasing spending on male grooming is a main factor expected to fuel the use of electric trimmer in the region.

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https://www.grandviewresearch.com/industry-analysis/electric-hair-clipper-trimmer-market

Further key findings from the report suggest:

Asia Pacific held a leading share of 51.3% in 2018 due to growing penetration of technologically advanced products and increasing spending on male grooming
Cordless products are anticipated to witness the fastest growth from 2019 to 2025 due to introduction of products with improved battery life, coupled with improved ergonomics
Offline channel generated a revenue of USD 4.6 billion in 2018. Online channel is expected to register the highest CAGR of 4.1% over the forecast period due to increasing penetration of e-retailers such as Amazon and Walmart in tier II and tier III cities
The electric hair clipper & trimmer marketis highly competitive due to presence of prominent vendors including Koninklijke Philips N.V.; Wahl; Spectrum Brands, Inc.; Procter & Gamble; Panasonic Corporation; Conair Corporation; VEGA; Sunbeam Products, Inc.; and Havells India Ltd.

Scratch Resistant Glass Market Size Worth $8.17 Billion By 2025

The global scratch resistant glass market size is expected to reach USD 8.17 billion by 2025, according to a new report by Grand View Research, Inc. The growing sales for premium smartphones coupled with growing concerns regarding screen strength is expected to drive market growth.

The demand for scratch resistant glass is the highest LCD/LED manufacturing. The growing demand for sapphire glass and gorilla glass in display applications is expected to drive market growth over the forecast period. The introduction of new display devices with high resolution and increased screen size is boosting the application of scratch resistant glass as these products require glass equipped with anti-cracking properties.

North America accounted for the maximum market share owing to rise in startups involved in the manufacturing of sustainable lighting solutions and connected devices under the Internet of things (IoT) product category. The growing demand for OLED’s and wearables is expected to further augment the consumption of scratch resistant glass over the forecast period. Asia Pacific market is expected to grow rapidly over the forecast period owing to rising demand for budget smartphones.

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http://www.grandviewresearch.com/industry-analysis/scratch-resistant-glass-market

Further key findings from the report suggest:

Smartphone application segment is anticipated to grow at a CAGR of 10.8% from 2017 to 2025 owing to increasing demand for smartphones with high screen toughness.
Automotive application segment is projected to grow at a CAGR of 9.9% from 2017 to 2025 owing to research on in car infotainment and improving the passenger safety.
Asia Pacific scratch resistant glass market share is expected to reach over 30% in 2025 owing to rise in local demand backed by growing smartphone manufacturing activity in the region.
Middle East & Africa is projected to grow at a CAGR of 8.1% from 2017 to 2025 owing to growing demand for smartphones and LED lighting solutions.
The market players are engaged in research on developing technologies for the manufacturing of products at an affordable price as consumers still prefer screen protector films.

Ballistic composites Market Worth $2.18 Billion By 2025

The global ballistic composites market size is expected to reach USD 2.18 billion by 2025, expanding at a CAGR of 6.8%, according to a new report by Grand View Research, Inc. Unstable geopolitical relations, increasing cross-border tensions have forced nations to strengthen their defense units. Providing lightweight, efficient and advanced combat equipment has been on top priorities of most of the developed as well as developing countries. This has triggered the use of ballistic composites over the past few years.

Several factors, like the propensity of the composite armor of supporting the weight of an externally attached component, anchoring composite armor with a platform, safeguarding of ballistic weaknesses at panel joints and corners are taken into consideration while product designing and production are executed.

Ballistic vests are envisioned to deflect bullets from several types of guns, while armored vehicles must withstand projectiles, shells fired from tanks and roadside bombs. The layout of ballistic materials thus presents challenges familiar to any composites manufacturer.

North America is slated to account for larger market share. Active involvement of the U.S. military to counter terror threats is expected to fuel the product demand. Rising pressure on the U.S. government to maintain its military dominance is also expected to drive the regional market.

The key value chain components for the ballistic protective equipment market include raw material suppliers, ballistic equipment manufacturers, and end-users. The raw material suppliers form the first component in the value chain and provide various metals, materials, and fabrics required for producing ballistic protection suits.

Major companies in the global ballistic composites market include DuPont, Teijin, DSM and Honeywell International. The market can be characterized by increasing R&D spending and continuous efforts for new product development.

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http://www.grandviewresearch.com/industry-analysis/ballistic-composites-market

Further key Findings from the Study Suggest:

Asia Pacific is expected to emerge as the fastest growing market in terms of product technology upgradation. Rising awareness in this region pertaining the life of deployed soldiers and vehicles is likely to trigger government budgets allocated for defense.
North America is likely to emerge the largest market for ballistic composites on account of favorable government budgets, policies and regulations pertaining defense initiatives.
Polymer matrix composite is expected to experience a significant growth on account of their low cost and simple fabrication methods. Its significance lies in its ability to grow fatter and short upon being heated.
During the forecast period, ballistic composites market is expected to be majorly driven by armor applications in body vests and defense vehicles.

Active Insulation Market Worth $401.9 Million By 2027

The global active insulation market size is expected to reach USD 401.9 million by 2027, expanding at a revenue-based CAGR of 5.9%, according to a new report by Grand View Research, Inc. rising demand for insulation products to maintain the inner temperature in building structures is anticipated to drive the market over the forecast period. Moreover, increasing re-insulation activities under-insulated houses to save energy are further expected to support the growth.

The growing popularity of outdoor activities such as cycling, sports, workouts, and yoga are likely to ascend the demand for activewear and sportswear. This, in turn, is projected to support the market. Commercial availability of active insulating products coupled with their benefits including resistant to shrinking, stretching, and quick-drying are expected to aid the growth.

Increasing energy costs and growing consumer awareness regarding the economic benefits of building insulation are expected to have a positive impact on the market. Utilization of building insulation products such as glass wool and mineral wool is likely to accelerate in the estimated time owing to their benefits including easy installation, fireproof, and recyclable property.

Europe appeared as the largest regional segment with a share of 33.2% of the total market volume share in 2019. Favorable government regulations supporting the use of active insulation in building structures have benefitted the market in Europe. Increasing production of sportswear and activewear in countries like China and India are likely to aid the market in Asia Pacific.

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https://www.grandviewresearch.com/industry-analysis/active-insulation-market

Further key findings from the report suggest:

The demand for glass wool product for building and construction applications is expected to witness a CAGR of 5.1% by revenue, from 2020 to 2027, on account of its superior heat insulation coupled with ease of application in the construction industry
Polyester emerged as the largest product segment for textile applications in 2019 and is estimated to generate revenue of USD 63.4 million by 2027 on account of efficient moisture handling, non-allergic, and non-itch property
Global expanded polystyrene (EPS) demand in building and construction was estimated at USD 56.7 million in 2019 and is anticipated to witness staggered growth over the forecast period due to improved performance
The U.S. market in sportswear application was estimated at USD 7.1 million in 2019 and is estimated to witness notable growth rate from 2019 to 2027 on account of increased adoption of such products
Key players including PrimaLoft, Inc.; Polartec; and Economical Building Systems dominated the active insulation market while accounting for over 65% of the total market share in 2019.

Eco Fibers Market Size Worth $69.0 Billion By 2025

The global eco fibers market size is expected to reach USD 69.0 billion by 2025, as per a new report by Grand View Research Inc. expanding at a CAGR of 9.2% over the forecast period. Rapidly growing online fashion retail, rising disposable income, and development of high-quality innovative fabrics are some of the key factors expected to aid the industry growth over the forecast period.

The industry has observed a highly labor-intensive value chain, where labor cost plays a crucial role from farming to fabric processing. Manufacturers are shifting their focus to establish cost-effective structure by achieving economies of scale, which is expected to lead to heavy reliance on machinery and equipment.

Eco fibers are rapidly gaining popularity in designer garments and apparels. Continuous advancements in terms of the development of eco fiber textiles offering absorbent, antimicrobial, highly breathable, hypoallergenic, UV resistant, and insulating characteristics are anticipated to promote their importance in clothing market over the projected period.

Ascending demand for synthetic fibers that are cheaper than organic cotton is likely to emerge as a restraining factor for eco fiber-based textile industry in the coming years. Furthermore, subsidies for synthetic fiber plants are expected to lower their prices, thereby affecting the eco fiber-based textile market.

Market participants are expected to focus on R&D and extensive marketing business strategies in order to compete with the established players. Marketing activities are anticipated to play a crucial role in spreading awareness regarding the benefits of organic products across various end-use industries.

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https://www.grandviewresearch.com/industry-analysis/eco-fiber-market

Further key findings from the report suggest:

Regenerated eco fibers dominated the market and accounted for 52.7% of market revenue in 2018, owing to the increasing emphasis on sustainable disposal of textile and industrial waste to minimize its harmful effects on humans and the environment
Textiles application is estimated to witness fastest growth over the forecast period, growing at a CAGR of 9.9% in terms of revenue from 2019 to 2025, owing to rapidly increasing demand for clothes/garments driven by population increase
Asia Pacific accounted for the revenue share of 32.4% in 2018 with the growth expected to be driven by an increase in the number of trade agreements such as Trans-Pacific Strategic Economic Partnership Agreement
The market for eco-fibers in the U.S. generated a revenue of USD 8.96 billion in 2018 and is expected to witness a rapid growth over the forecast period, owing to increasing demand for eco fibers for furniture and bedding applications
The eco fibers market is fragmented in nature, owing to the presence of large international players who are emphasizing on expanding their global footprint in order to cater to a larger consumer base

Neckwear Market Size Worth $4.2 Billion By 2025

The global neckwear market size is expected to reach USD 4.2 billion by 2025, according to a new report by Grand View Research, Inc. It is projected to expand at a CAGR of 2.1% during the forecast period. Demand for neckwear for formal as causal occasions is anticipated to drive the market. Major manufacturers focus on innovation to produce boutique-branded products to attract more consumers. This factor is anticipated to further drive the market growth.

Consumers prefer wearing ties as they project professionalism, confidence, authority, power, and exclusivity. Rising use of neckwear, especially neckties in professional settings is expected to drive the market growth. Media executives, bankers, business school students, and hospitality professionals are some of the major consumers.

Neckwear manufacturers focus on attracting consumers looking to pair neckwear with casual clothing. Innovations such as trendy designs, soft touch fabric, bright and funky colors, and occasion-specific neckties to attract millennials are projected to create growth opportunities for the market. Along with traditional silk, they focus on using materials such as microfibers, polyester, and cotton to enhance the product offerings.

Key market players focus on experimenting with their product offering and widening the portfolio. For instance, in 2017, Korbata, a Guatemalan manufacturer of men’s fashion accessories launched a new collection called Nawales, inspired by the Mayan worldview and their sacred calendar representing an element of nature and energy.

Neckties product segment is expected to continue holding the largest market share in the forthcoming years, High demand for neckties due to the common acceptance of the product as a part of regular business attire is anticipated to bode well for the segment growth. Consumers choose different designs, patterns, and colors for different occasions. Bow tie is projected to be the fastest growing segment over the forecasted period owing to its growing adoption among millennials as a casual wear accessory.

Key players in the neckwear industry focus on product innovation, brand endorsement, and social media marketing. For instance, in 2017, The Tie Bar, a Chicago-based menswear company, launched subscription model for the U.S. based consumers to improve its customer retention ratio. The company delivers three brand new bow ties or neckties to the consumers depending on their product preference in two intervals—either in six months or a year.

Asia Pacific is expected to continue holding the largest market share and register the fastest CAGR over the forecast period. The growth is majorly driven by rising demand from countries such as China, India, Japan, and Korea. Factors such as growing population, fashion consciousness, and booming commercial sector are projected to drive the regional market growth.

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

Further key findings from the report suggest:

Pre-tied neckwear is estimated to expand at the fastest CAGR of 2.7% during the forecast period, due to convenience and user-friendliness
Asia Pacific is estimated to expand at the fastest a CAGR of 2.6% over the forecast period owing to growing disposable income, number of private schools and colleges, and number of working population
Some of the major players operating in the neckwear market are Brooks Brothers Group, Inc.; Giorgio Armani S.p.A.; Ralph Lauren Corporation; PVH Corp.; LVHM; Brackish Brand; Vineyard Vines; THE TIE BAR; Turnbull & Asser; and Battistoni