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  • This distribution centre is the first for L-Acoustics in the Asia Pacific region.

    #LAcoustics #GEODIS #Regionaldistributioncentre #Singapore #AsiaPacific #Logistics
    This distribution centre is the first for L-Acoustics in the Asia Pacific region. #LAcoustics #GEODIS #Regionaldistributioncentre #Singapore #AsiaPacific #Logistics
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    L-Acoustics, GEODIS open regional distribution centre in Singapore
    This distribution centre is the first for L-Acoustics in the Asia Pacific region.
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  • Asia Pacific airlines saw 14% YoY demand growth for air cargo in April – the strongest of all regions

    #InternationalAirTransportAssociation #IATA #April #AsiaPacificairlines #aircargo #aircraft
    Asia Pacific airlines saw 14% YoY demand growth for air cargo in April – the strongest of all regions #InternationalAirTransportAssociation #IATA #April #AsiaPacificairlines #aircargo #aircraft
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    Air cargo demand continues strong growth into Q2
    Asia Pacific airlines saw 14% YoY demand growth for air cargo in April – the strongest of all regions
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  • Su Yin will report to Charles Galloway, dnata's Regional CEO for Asia-Pacific.

    #dnata #dnata #Singapore #AsiaPacific #aircargo #aircraft
    Su Yin will report to Charles Galloway, dnata's Regional CEO for Asia-Pacific. #dnata #dnata #Singapore #AsiaPacific #aircargo #aircraft
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    Neo Su Yin becomes Managing Director of dnata in Singapore
    Su Yin will report to Charles Galloway, dnata's Regional CEO for Asia-Pacific.
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  • FedEx regional HQ to house teams that support its operations in Asia Pacific, Middle East and Africa

    #FedExExpress #FedEx #Singapore #AsiaPacific #MiddleEast #Africa #logistics #headquarters
    FedEx regional HQ to house teams that support its operations in Asia Pacific, Middle East and Africa #FedExExpress #FedEx #Singapore #AsiaPacific #MiddleEast #Africa #logistics #headquarters
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    FedEx opens regional headquarters in Singapore
    FedEx regional HQ to house teams that support its operations in Asia Pacific, Middle East and Africa
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  • Prior to joining Jettainer, Elfi Chik served as Commercial Director, Asia Pacific, WFS

    #Jettainer #AsiaPacific #WFS #JettainernewGM #Jettainernewappointments #JettainerGMsales #ULDmanagement #ULDtechnology #UnitLoadDevice #HongKong
    Prior to joining Jettainer, Elfi Chik served as Commercial Director, Asia Pacific, WFS #Jettainer #AsiaPacific #WFS #JettainernewGM #Jettainernewappointments #JettainerGMsales #ULDmanagement #ULDtechnology #UnitLoadDevice #HongKong
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    Jettainer onboards Elfi Chik as GM Sales, North Asia
    Prior to joining Jettainer, Elfi Chik served as Commercial Director, Asia Pacific, WFS
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  • Solvents Marketand its Types and Application
    The global solvents market size is projected to reach USD 67,837.8 million by 2028, exhibiting a CAGR of 6.0% during the forecast period. Fortune Business Insights in its report, titled “Solvents Market, 2021-2028”, states that the value of this market stood at USD 43,845.7 million in 2020.

    With the paints & coatings industry reeling from the effects of the economic fallout caused by the COVID-19 pandemic, the solvents market growth is facing a notable decline. The primary reasons for this market’s truncated growth in 2020 include the massive shortage of factory workers, closure of manufacturing facilities, and shrinking availability of raw materials. In 2020, the market’s growth rate fell by 2.96% and it is predicted to reach USD 45,058.8 million in 2021.


    AGC Chemicals Develops Eco-friendly Solutions for Cleaning Medical Devices

    In March 2020, AGC Chemicals Americas announced the development and launch of AsahiKlin™ AE-3000 and AMOLEA™ AT2, the company’s newest fluorinated solvents. The novel offerings have been formulated to enable manufacturers to adhere to the stringent environmental regulations for the precision cleaning of medical devices. With traditional solvents such as n-propyl bromide and trichloroethylene being investigated by the US Environmental Agency for potential risks, AGC’s new formulations can function as the perfect alternative solutions for the manufacturing of chemicals for various end-use applications. Moreover, the solutions have no ozone depletion properties, low surface tension, and low global warming potential, making them ideal for cleaning a wide range of critical medical devices.

    Increasing Demand for Paints & Coatings to Propel the Market

    Paints and coatings are critical components in construction and building operations. With construction and infrastructure development activities gathering rapid momentum around the globe, the application areas of paints and coatings are speedily widening. For example, a study by Oxford Economics forecasts that the output value of construction activities will surge by 85% through 2030, reaching USD 15.5 trillion. This growth will be led by the intensifying demand for buildings & constructions in China, India, and the U.S. Solvents are highly useful in preventing the formation of clumps and globs in paints, while their cost-effectiveness, durability, and temperature resistance make them suitable in the formulation of coatings. Thus, the incredible growth of the construction industry will spawn spectacular opportunities for specialty chemicals in the forthcoming decade.

    Industrial Cleaning Segment to Showcase Promising Progress

    On the basis of application, the market has been divided into paints & coatings, printing inks, industrial cleaning, adhesives, and others. Among these, the industrial cleaning segment is expected to display excellent growth prospects as solvents are extensively deployed in industrial settings to remove dirt, dust, and oil remnants that gather on surfaces and crevices of machines, equipment, and the shop floor. In 2020, this segment held a share of 14.0% in the global market and a share of 13.6% in the China market.

    Based on product type, the market is categorized into alcohols, ketones, esters, and others. By region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

    Information Source:

    https://www.fortunebusinessinsights.com/industrial-solvents-market-102135
    Solvents Marketand its Types and Application The global solvents market size is projected to reach USD 67,837.8 million by 2028, exhibiting a CAGR of 6.0% during the forecast period. Fortune Business Insights in its report, titled “Solvents Market, 2021-2028”, states that the value of this market stood at USD 43,845.7 million in 2020. With the paints & coatings industry reeling from the effects of the economic fallout caused by the COVID-19 pandemic, the solvents market growth is facing a notable decline. The primary reasons for this market’s truncated growth in 2020 include the massive shortage of factory workers, closure of manufacturing facilities, and shrinking availability of raw materials. In 2020, the market’s growth rate fell by 2.96% and it is predicted to reach USD 45,058.8 million in 2021. AGC Chemicals Develops Eco-friendly Solutions for Cleaning Medical Devices In March 2020, AGC Chemicals Americas announced the development and launch of AsahiKlin™ AE-3000 and AMOLEA™ AT2, the company’s newest fluorinated solvents. The novel offerings have been formulated to enable manufacturers to adhere to the stringent environmental regulations for the precision cleaning of medical devices. With traditional solvents such as n-propyl bromide and trichloroethylene being investigated by the US Environmental Agency for potential risks, AGC’s new formulations can function as the perfect alternative solutions for the manufacturing of chemicals for various end-use applications. Moreover, the solutions have no ozone depletion properties, low surface tension, and low global warming potential, making them ideal for cleaning a wide range of critical medical devices. Increasing Demand for Paints & Coatings to Propel the Market Paints and coatings are critical components in construction and building operations. With construction and infrastructure development activities gathering rapid momentum around the globe, the application areas of paints and coatings are speedily widening. For example, a study by Oxford Economics forecasts that the output value of construction activities will surge by 85% through 2030, reaching USD 15.5 trillion. This growth will be led by the intensifying demand for buildings & constructions in China, India, and the U.S. Solvents are highly useful in preventing the formation of clumps and globs in paints, while their cost-effectiveness, durability, and temperature resistance make them suitable in the formulation of coatings. Thus, the incredible growth of the construction industry will spawn spectacular opportunities for specialty chemicals in the forthcoming decade. Industrial Cleaning Segment to Showcase Promising Progress On the basis of application, the market has been divided into paints & coatings, printing inks, industrial cleaning, adhesives, and others. Among these, the industrial cleaning segment is expected to display excellent growth prospects as solvents are extensively deployed in industrial settings to remove dirt, dust, and oil remnants that gather on surfaces and crevices of machines, equipment, and the shop floor. In 2020, this segment held a share of 14.0% in the global market and a share of 13.6% in the China market. Based on product type, the market is categorized into alcohols, ketones, esters, and others. By region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Information Source: https://www.fortunebusinessinsights.com/industrial-solvents-market-102135
    WWW.FORTUNEBUSINESSINSIGHTS.COM
    Solvents Market Size, Growth & Trends | Report [2021-2028]
    The global solvents market is projected to grow from $45,058.8 million in 2021 to $67,837.8 million in 2028 at a CAGR of 6.0% in forecast period 2021-2028
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  • Silt Curtain Market Size, Share And Major Industry Players Forecast (2020-2027)
    According to a report published by Fortune Business Insights, the market was worth USD 7,765.7 Thousand in 2019 and will exhibit a CAGR of 3.8% during the forecast period, 2020-2027. The global silt curtain market is projected to reach USD 10,271.8 Thousand by the end of 2027. Increasing demand for the product owing to widespread applications will emerge in favor of market growth.

    Silt curtains are primarily used in construction activities that are associated with, on, or near water bodies. They prevent unwanted sediments and substances from entering the waterways, thus minimizing pollution. These products are normally used to prevent damage to aquatic life. The increasing awareness regarding the preservation of aquatic life, spread by leading authorities across the world, will lead to wider adoption of the product. The increasing number of building and construction activities on and near the shores will contribute to the growing demand for the product across the world.

    Moreover, the efforts taken to minimize soil erosion will emerge in favor of the companies operating in the market. The massive investment in the development of efficient products will aid the growth of the overall market in the coming years.

    Increasing Construction Activities Will Provide Impetus to Market Growth

    The report encompasses several factors that have contributed to the growth of the market in recent years. It also discusses the impact on these factors on the growth of the market from a global perspective. The growth of the construction industry is attributable to factors such as technological advances in devices used, ease of availability of resources, and increasing investments. The increasing building and construction activities have led to a wide product adoption and subsequently high demand for silt curtains across the world. Applications of these products across diverse industry verticals have emerged in favor of the companies operating in the market.

    Moreover, the increasing demand for oil and gas resources, coupled with the rise in offshore as well as onshore drilling activities will have a positive impact on the growth of the market. Despite the massive potential held by the product, the coronavirus outbreak will bring stagnancy in the growth rate in the year 2019. Having said that, the market will witness new growth opportunities in the coming years owing to the efforts taken by large scale companies to compensate for the losses in the outbreak.


    North America; Rising Infrastructure Development Activities Will Aid Growth

    The report analyzes the ongoing market trends across North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Among these regions, the market in Asia Pacific accounts for the highest market share. The constantly rising construction population and subsequently rising construction and building activities will aid the growth of the market in the coming years. The focus on improving the interior architectures and infrastructures in numerous countries across this region will contribute to the growth of the market. Additionally, increasing product demand in emerging countries such as India, China, and Japan will bode for the growth of the regional market. Besides Asia Pacific, the market in North America will witness considerable growth owing to the increase onshore activities in the United States. As of 2019, the market in North America was worth USD 2.23 billion and this value is projected to increase further in the coming years.

    Information Source:

    https://www.fortunebusinessinsights.com/silt-curtain-market-102808
    Silt Curtain Market Size, Share And Major Industry Players Forecast (2020-2027) According to a report published by Fortune Business Insights, the market was worth USD 7,765.7 Thousand in 2019 and will exhibit a CAGR of 3.8% during the forecast period, 2020-2027. The global silt curtain market is projected to reach USD 10,271.8 Thousand by the end of 2027. Increasing demand for the product owing to widespread applications will emerge in favor of market growth. Silt curtains are primarily used in construction activities that are associated with, on, or near water bodies. They prevent unwanted sediments and substances from entering the waterways, thus minimizing pollution. These products are normally used to prevent damage to aquatic life. The increasing awareness regarding the preservation of aquatic life, spread by leading authorities across the world, will lead to wider adoption of the product. The increasing number of building and construction activities on and near the shores will contribute to the growing demand for the product across the world. Moreover, the efforts taken to minimize soil erosion will emerge in favor of the companies operating in the market. The massive investment in the development of efficient products will aid the growth of the overall market in the coming years. Increasing Construction Activities Will Provide Impetus to Market Growth The report encompasses several factors that have contributed to the growth of the market in recent years. It also discusses the impact on these factors on the growth of the market from a global perspective. The growth of the construction industry is attributable to factors such as technological advances in devices used, ease of availability of resources, and increasing investments. The increasing building and construction activities have led to a wide product adoption and subsequently high demand for silt curtains across the world. Applications of these products across diverse industry verticals have emerged in favor of the companies operating in the market. Moreover, the increasing demand for oil and gas resources, coupled with the rise in offshore as well as onshore drilling activities will have a positive impact on the growth of the market. Despite the massive potential held by the product, the coronavirus outbreak will bring stagnancy in the growth rate in the year 2019. Having said that, the market will witness new growth opportunities in the coming years owing to the efforts taken by large scale companies to compensate for the losses in the outbreak. North America; Rising Infrastructure Development Activities Will Aid Growth The report analyzes the ongoing market trends across North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Among these regions, the market in Asia Pacific accounts for the highest market share. The constantly rising construction population and subsequently rising construction and building activities will aid the growth of the market in the coming years. The focus on improving the interior architectures and infrastructures in numerous countries across this region will contribute to the growth of the market. Additionally, increasing product demand in emerging countries such as India, China, and Japan will bode for the growth of the regional market. Besides Asia Pacific, the market in North America will witness considerable growth owing to the increase onshore activities in the United States. As of 2019, the market in North America was worth USD 2.23 billion and this value is projected to increase further in the coming years. Information Source: https://www.fortunebusinessinsights.com/silt-curtain-market-102808
    WWW.FORTUNEBUSINESSINSIGHTS.COM
    Silt Curtain Market Size, Share, Growth | Global Industry Report, 2027
    The global silt curtain market size was USD 7,765.7 thousand in 2019 and is projected to reach USD 10,271.8 thousand by 2027, exhibiting a CAGR of 3.8% during the forecast period.
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  • Acetic Acid Market Companies, Consumption, Drivers, Trends, Forces Analysis, Revenue, Challenges and Global Forecast 2028
    The global acetic acid market size is expected to reach USD 13.79billion by 2027, exhibiting a CAGR of 8.4% during the forecast period. The rising consumption of solvents such as VAM in the chemical industry for paints & coatings, adhesives & sealants will bolster the healthy growth of the market, states Fortune Business Insights, in a report, titled “Acetic Acid Market Size, Share & Industry Analysis, By Application (Vinyl Acetate Monomer (VAM), Purified Terephthalic Acid (PTA), Ester Solvents, Acetic Anhydride, Others), and Geography Forecast, 2020-2027.” The market size stood at USD 8.34 billion in 2019.


    Market Driver:

    Advancements in Polymer Development to Bolster Growth

    The growing technological advancements in polymers and products made out of VAM will significantly aid the expansion of the market. The growing demand for VAM in the production of ethylene vinyl alcohol (EVOH), a barrier resin in food packaging, gasoline tanks, and other engineering polymers will have an excellent effect on the market. Some other VAM derivatives such as vinyl chloride-vinyl acetate copolymers have applications in adhesives & sealants, which, in turn, will bolster the health of the market. Moreover, It also has applications in adhesive due to adhesion properties to different substrates that include wood, paper, metals, and plastic films.

    Decreased Production to Hamper Market in COVID-19 Pandemic

    The reduced production of chemicals has negatively impacted on the market growth. The shutdown of factories due to a shortage of laborers and diminished supply of raw materials can dwindle the sales, in turn, affecting the growth of the market. However, the demand for ethanoic acid alongside the high consumption of sanitizers will subsequently aid in the recovery of the business amid coronavirus. Besides, health and safety concerns in healthcare facilities will further improve the prospects of the market in the near future.

    Regional Analysis:

    Heavy Investments in Polymers to Promote Growth in Asia Pacific

    The market in Asia Pacific is expected to hold the largest share in the global market owing to the rising polymer formulations in the region. The chemical is a key raw material used for the production of polymers in industries across Japan, China, and India. China is a major leader in polymers and chemicals. China's capacity further helps in the high production of ethanoic acid. According, to Chemical Market Associates, Inc. (CMAI) 400,000 tons per year demand is in China, from the global average demand. The improving construction industry in India is expected to further boost growth in the region. Europe is expected to hold a significant share during the forecast period owing to the rising demand from end-use sectors. The growing import activities will aid expansion in Europe. Moreover, the high production of methanol carbonylation, which has accounted for up to 65% of the world capacity, and other process oxidation of acetaldehyde by German producer Wacker will significantly create opportunities for the market in the region.

    Information source:

    https://www.fortunebusinessinsights.com/acetic-acid-market-103386
    Acetic Acid Market Companies, Consumption, Drivers, Trends, Forces Analysis, Revenue, Challenges and Global Forecast 2028 The global acetic acid market size is expected to reach USD 13.79billion by 2027, exhibiting a CAGR of 8.4% during the forecast period. The rising consumption of solvents such as VAM in the chemical industry for paints & coatings, adhesives & sealants will bolster the healthy growth of the market, states Fortune Business Insights, in a report, titled “Acetic Acid Market Size, Share & Industry Analysis, By Application (Vinyl Acetate Monomer (VAM), Purified Terephthalic Acid (PTA), Ester Solvents, Acetic Anhydride, Others), and Geography Forecast, 2020-2027.” The market size stood at USD 8.34 billion in 2019. Market Driver: Advancements in Polymer Development to Bolster Growth The growing technological advancements in polymers and products made out of VAM will significantly aid the expansion of the market. The growing demand for VAM in the production of ethylene vinyl alcohol (EVOH), a barrier resin in food packaging, gasoline tanks, and other engineering polymers will have an excellent effect on the market. Some other VAM derivatives such as vinyl chloride-vinyl acetate copolymers have applications in adhesives & sealants, which, in turn, will bolster the health of the market. Moreover, It also has applications in adhesive due to adhesion properties to different substrates that include wood, paper, metals, and plastic films. Decreased Production to Hamper Market in COVID-19 Pandemic The reduced production of chemicals has negatively impacted on the market growth. The shutdown of factories due to a shortage of laborers and diminished supply of raw materials can dwindle the sales, in turn, affecting the growth of the market. However, the demand for ethanoic acid alongside the high consumption of sanitizers will subsequently aid in the recovery of the business amid coronavirus. Besides, health and safety concerns in healthcare facilities will further improve the prospects of the market in the near future. Regional Analysis: Heavy Investments in Polymers to Promote Growth in Asia Pacific The market in Asia Pacific is expected to hold the largest share in the global market owing to the rising polymer formulations in the region. The chemical is a key raw material used for the production of polymers in industries across Japan, China, and India. China is a major leader in polymers and chemicals. China's capacity further helps in the high production of ethanoic acid. According, to Chemical Market Associates, Inc. (CMAI) 400,000 tons per year demand is in China, from the global average demand. The improving construction industry in India is expected to further boost growth in the region. Europe is expected to hold a significant share during the forecast period owing to the rising demand from end-use sectors. The growing import activities will aid expansion in Europe. Moreover, the high production of methanol carbonylation, which has accounted for up to 65% of the world capacity, and other process oxidation of acetaldehyde by German producer Wacker will significantly create opportunities for the market in the region. Information source: https://www.fortunebusinessinsights.com/acetic-acid-market-103386
    WWW.FORTUNEBUSINESSINSIGHTS.COM
    Acetic Acid Market Size, Share | Global Research Report [2028]
    The global acetic acid market is projected to grow from $7.29 billion in 2021 to $10.54 billion in 2028 at a CAGR of 5.4% in forecast period, 2021-2028
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  • The global graphene market size was valued at USD 269.6 million in 2021. The market is projected to grow from USD 337.0 million in 2022 to USD 2,172.2 million by 2029, exhibiting a CAGR of 30.5% during the forecast period.

    This information is provided by Fortune Business Insights, in its report titled, “Graphene Market, 2022-2029.”

    Information Source - https://www.fortunebusinessinsights.com/graphene-market-102930

    Segments:

    GO Segment to Gain Momentum due to Increasing Applications from Various End-use Industries

    Based on product, the market is segmented into graphene oxide (GO), graphene nanoplatelets (GNP), and others.

    GNP accounted for the largest market share in 2021 and is expected to continue its dominance until 2029.

    Aerospace & Defense Segment to Hold a Significant Share Owing to Extensive Adoption of Material

    In terms of end-use industry, the market is classified into electronics, aerospace & defense, automotive, energy, and others.

    Graphene is revolutionizing the aerospace industry as it improves the functionality of the coatings and composites used in planes, drones, helicopters, and spaceships manufacturing.

    Geographically, the market is segregated into North America Europe, Asia Pacific, Latin America, and the Middle East & Africa.

    Report Coverage:

    The report offers a detailed study of the market and a keen examination of the major segments of the market. It provides an in-depth analysis of key players and their insightful strategies to spur the market growth for monetary gains. It also shares tangible insights, which guide business owners with their investment perspective.

    Drivers and Restraints:

    Growing Product Penetration in the Electronics Industry to Aid Growth

    Owing to it exceptionally high thermal and electrical conductivity and its lightweight nature, it is preferably suitable for electronics applications. The electrons in this allotrope of carbon have higher mobility, and therefore speed up more when applied on an electric field, as compared to semiconductors that are extensively employed in electronic devices, including silicon. Owing to these properties, it produces more proficient devices that function faster than traditional substitutes while using less power.

    Regional Insights:

    Asia Pacific to Dominate Backed by Favorable Government Policies

    Asia Pacific held the largest graphene market share and is anticipated to dominate the market during the forecast period, owing to favorable policies by the government, academic research, and funding in the region.

    The market in the North America region is estimated to witness significant growth, owing to growing demand from the aerospace and energy industries, as well as high demand for eco-friendly, strong, efficient, and lightweight goods, driving the graphene market growth in the region.

    The market in Europe is anticipated to witness a significant growth rate and may continue its dominance during the forecast period owing to increasing investments in R&D activities.
    The global graphene market size was valued at USD 269.6 million in 2021. The market is projected to grow from USD 337.0 million in 2022 to USD 2,172.2 million by 2029, exhibiting a CAGR of 30.5% during the forecast period. This information is provided by Fortune Business Insights, in its report titled, “Graphene Market, 2022-2029.” Information Source - https://www.fortunebusinessinsights.com/graphene-market-102930 Segments: GO Segment to Gain Momentum due to Increasing Applications from Various End-use Industries Based on product, the market is segmented into graphene oxide (GO), graphene nanoplatelets (GNP), and others. GNP accounted for the largest market share in 2021 and is expected to continue its dominance until 2029. Aerospace & Defense Segment to Hold a Significant Share Owing to Extensive Adoption of Material In terms of end-use industry, the market is classified into electronics, aerospace & defense, automotive, energy, and others. Graphene is revolutionizing the aerospace industry as it improves the functionality of the coatings and composites used in planes, drones, helicopters, and spaceships manufacturing. Geographically, the market is segregated into North America Europe, Asia Pacific, Latin America, and the Middle East & Africa. Report Coverage: The report offers a detailed study of the market and a keen examination of the major segments of the market. It provides an in-depth analysis of key players and their insightful strategies to spur the market growth for monetary gains. It also shares tangible insights, which guide business owners with their investment perspective. Drivers and Restraints: Growing Product Penetration in the Electronics Industry to Aid Growth Owing to it exceptionally high thermal and electrical conductivity and its lightweight nature, it is preferably suitable for electronics applications. The electrons in this allotrope of carbon have higher mobility, and therefore speed up more when applied on an electric field, as compared to semiconductors that are extensively employed in electronic devices, including silicon. Owing to these properties, it produces more proficient devices that function faster than traditional substitutes while using less power. Regional Insights: Asia Pacific to Dominate Backed by Favorable Government Policies Asia Pacific held the largest graphene market share and is anticipated to dominate the market during the forecast period, owing to favorable policies by the government, academic research, and funding in the region. The market in the North America region is estimated to witness significant growth, owing to growing demand from the aerospace and energy industries, as well as high demand for eco-friendly, strong, efficient, and lightweight goods, driving the graphene market growth in the region. The market in Europe is anticipated to witness a significant growth rate and may continue its dominance during the forecast period owing to increasing investments in R&D activities.
    WWW.FORTUNEBUSINESSINSIGHTS.COM
    Graphene Market Size, Growth, Share | Research Report [2029]
    The global graphene market is projected to grow from $337.0 million in 2022 to $2,172.2 million by 2029, at a CAGR of 30.5% in the forecast period, 2022-2029
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  • The global traffic road marking coatings market size is projected to reach USD 8.34 billion by 2028, exhibiting a CAGR of 4.1% during the forecast period. The market size stood at USD 6.04 billion in 2020 and is estimated to touch USD 6.31 billion in 2021, according to a report by Fortune Business Insights™, titled “Traffic Road Marking Coatings Market, 2021-2028”.

    Information Source - https://www.fortunebusinessinsights.com/traffic-road-marking-coatings-market-103056

    Startling Rise in Road Fatalities Worldwide to Fuel Market Growth

    Accidents and deaths caused by road crashes have been steadily rising around the globe over the past few years. Recent data released by the World Health Organization (WHO) reveal that road traffic accidents kill roughly 1.35 million people globally every year, with more than 50% of these mishaps occurring among the most road users – pedestrians, cyclists, and motorists. Furthermore, the WHO data also show that road accidents also cause non-fatal injuries to many millions around the world annually. Traffic road marking coatings are essential in ensuring that drivers are aware of the road conditions, especially during the night and on unknown terrains. These coatings can efficiently prevent the crashing of vehicles with each other as well as reduce the risk for other road users.



    Segmentation

    Based on product, the market has been divided into water-based coatings, solvent-based coatings, and thermoplastic coatings. Among these, the water-based coatings segment held a leading share of 39.1% in the global market in 2020.

    On the basis of application, the market is segmented into roads & highways, airports, parking lots, and others. Geographically, the market has been clubbed into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

    Report Highlights

    The report contains unparalleled insights into market drivers, trends, and restraints, along with an industry-leading analysis of all possible market segments. Further, the report offers a granular study of the regional developments and prospects of the market, as well as actionable research into the competitive dynamics of the market.

    Driving Factor

    Development of Eco-friendly Road Marking Solutions to Invigorate the Market

    Traditional paints and coatings are known for their high content of volatile organic compounds (VOCs), which are known to intensify global warming and damage the Ozone Layer. With the movement towards sustainability gaining momentum worldwide, traffic road marking coating producers and researchers are singularly focusing on engineering road markings made from environmentally friendly materials. For example, SWARCO Road Marking Systems teamed up with students to investigate the viability of using biopolymers in thermoplastic road markings and their efforts won them the Borealis Student Innovation Award in December 2020. Similarly, US-based Aexcel Corporation has developed the ToughLine suite of traffic paints that offer high performance, contain low VOC, and are solvent-based. Thus, the introduction of sustainable traffic markings is rapidly elevating the potential of this market.
    The global traffic road marking coatings market size is projected to reach USD 8.34 billion by 2028, exhibiting a CAGR of 4.1% during the forecast period. The market size stood at USD 6.04 billion in 2020 and is estimated to touch USD 6.31 billion in 2021, according to a report by Fortune Business Insights™, titled “Traffic Road Marking Coatings Market, 2021-2028”. Information Source - https://www.fortunebusinessinsights.com/traffic-road-marking-coatings-market-103056 Startling Rise in Road Fatalities Worldwide to Fuel Market Growth Accidents and deaths caused by road crashes have been steadily rising around the globe over the past few years. Recent data released by the World Health Organization (WHO) reveal that road traffic accidents kill roughly 1.35 million people globally every year, with more than 50% of these mishaps occurring among the most road users – pedestrians, cyclists, and motorists. Furthermore, the WHO data also show that road accidents also cause non-fatal injuries to many millions around the world annually. Traffic road marking coatings are essential in ensuring that drivers are aware of the road conditions, especially during the night and on unknown terrains. These coatings can efficiently prevent the crashing of vehicles with each other as well as reduce the risk for other road users. Segmentation Based on product, the market has been divided into water-based coatings, solvent-based coatings, and thermoplastic coatings. Among these, the water-based coatings segment held a leading share of 39.1% in the global market in 2020. On the basis of application, the market is segmented into roads & highways, airports, parking lots, and others. Geographically, the market has been clubbed into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Report Highlights The report contains unparalleled insights into market drivers, trends, and restraints, along with an industry-leading analysis of all possible market segments. Further, the report offers a granular study of the regional developments and prospects of the market, as well as actionable research into the competitive dynamics of the market. Driving Factor Development of Eco-friendly Road Marking Solutions to Invigorate the Market Traditional paints and coatings are known for their high content of volatile organic compounds (VOCs), which are known to intensify global warming and damage the Ozone Layer. With the movement towards sustainability gaining momentum worldwide, traffic road marking coating producers and researchers are singularly focusing on engineering road markings made from environmentally friendly materials. For example, SWARCO Road Marking Systems teamed up with students to investigate the viability of using biopolymers in thermoplastic road markings and their efforts won them the Borealis Student Innovation Award in December 2020. Similarly, US-based Aexcel Corporation has developed the ToughLine suite of traffic paints that offer high performance, contain low VOC, and are solvent-based. Thus, the introduction of sustainable traffic markings is rapidly elevating the potential of this market.
    WWW.FORTUNEBUSINESSINSIGHTS.COM
    Traffic Road Marking Coatings Market Size | Growth [2021 2028]
    The traffic road marking coatings market is projected to grow from $6.31 billion in 2021 to $8.34 billion in 2028 at a CAGR of 4.1% during forecast period
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