Simulation Software Market Overview

Simulation Software Market Size is forecast to reach $20.3 billion by 2026, at a CAGR of 17.0% during 2021-2026. Adoption of simulation software in aerospace, defense and automobile industries with the development of modern aircraft, autonomous and electric vehicles boost the simulation software market growth. In addition to these, process simulation software is also used in designing or creating Internet of Things (IoT) devices and apps.

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High adoption of simulation software for modeling and simulation in the development of industrial products is set to drive industry 4.0. Similarly, growing developments by various companies is analyzed to drive the market growth. In 2020, Desktop Metal had launched Live Sinter simulation software for powder metallurgy-based manufacturing processes. Further, entry of new players in developed and developing economies will further enhance the overall market demand for Simulation Software during the forecast period 2021-2026.

Report Coverage

The report: “Simulation Software Market – Forecast (2021-2026)”, by IndustryARC covers an in-depth analysis of the following segments of the Simulation Software marketBy Deployment Mode : Cloud, On-PremisesBy Type : Software (Finite Element Analysis, Computational Fluid Dynamics, Electromagnetic Waves and Others) Services (Design & Consulting, Support & Maintenance, E-Learning & Training, Research & Development)By Vertical : Automobile, Aerospace & Defense, Electrical & Electronics, Industrial Manufacturing, Healthcare, Education & Research, Others.By Geography: North America (U.S, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands and Others), APAC(China, Japan India, SK, Australia, Indonesia and Others), South America(Brazil, Argentina, Chile, Colombia and others), and RoW (Middle East and Africa).

Key Takeaways

• Simulation Software market in North America region held significant market share of 34% in the forecast period. Early adoption of advanced technologies in aerospace, defense and others has been increasing the demand for simulation software.
• Cloud deployment is growing at a highest CAGR of 20.3% in the forecast period owing to its operational flexibility and real-time deployment ease to companies compared to on-premises deployment.
• Automotive sector is expected to witness a highest CAGR of 21.2% the forecast period. Increasing focus on R&D activities and rapid technological changes owing to the changing government norms for vehicle safety are projected to drive the market.
• Simulation Software top 10 companies include Altair Engineering, Ansys, Autodesk, Bentley Systems, CPFD Software, Cybernet, Dassault Systems, Design Simulation Technologies, Mathworks, PTC, Siemens PLM Software among others.

Simulation Software Market, By Deployment Model, 2020 (%)

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Simulation Software Market Segment Analysis – By Deployment

Cloud deployment is growing at a highest CAGR of 20.3% in the forecast period owing to its operational flexibility and real-time deployment ease to companies compared to on-premises deployment. It also offers numerous benefits, including reduced operational costs, simple deployment process, and higher scalability in terms of connected resources. Additionally, the cost-effective cloud-based solutions ease installation when compared to the on-premises solutions. The highest level of data security and reliability offered by the cloud deployment are increasing the share of this deployment in the forecast period.

Several companies are providing solutions related to this deployment. For instance SimScale is a full-cloud CAE simulation software that helps to perform CFD, FEA, and thermal simulations for CAD models in the cloud. Similarly, AnyLogi? Cloud is a cloud-based simulation tool that allows users to run simulation models such as Finite Element Analysis and Computational Fluid Dynamics online using just a web browser and share them. Hence these benefits are analysed to drive the market growth in the forecast period 2021-2026.

Simulation Software Market Segment Analysis – By Vertical

Automotive sector is expected to witness a highest CAGR of 21.2% the forecast period. Increasing focus on R&D activities and rapid technological changes owing to the changing government norms for vehicle safety are projected to drive the market. With increasing connectivity and digitalization, OEMs are focusing on improving cybersecurity over connected vehicles & devices, which is expected to drive the automotive simulation market for software such as Finite Element Analysis and Computational Fluid Dynamics. Along with cybersecurity, rapid infrastructure development and advancements in 5G technology companies such as Nvidia, IPG automotive and so on are collaborating with several global companies for advancements in these simulation software.

In 2019, Nvidia had partnered with Toyota for autonomous vehicle simulation platform drive constellation, the cloud-based platform. This platform would enable the self-driving car developers to run tests on virtual, rather than real roads. In 2018, IPG Automotive signed a partnership agreement with Transpolis SAS to develop innovative solutions in the field of large-scale simulation. Hence these factors are anticipated to fuel the growth of the simulation software market in the forecast period 2021-2026.

Simulation Software Market Segment Analysis – By Geography

Simulation Software market in North America region held significant market share of 34% in the forecast period. Early adoption of advanced technologies in aerospace, defense and other has been increasing the demand for simulation software. In addition, the governments in the North American region are constantly focusing on innovation and investment for a greener work environment. The regulations associated with the eco-friendly work environment are becoming stringent in the region and as a result, companies are adopting simulators to test product viability before manufacturing.

In U.S. strict guidelines imposed by the Federal Aviation Administration (FAA) and Federal Aviation Regulations (FARs) regarding use of simulators for training purpose. According to new FAR regulations, Air carriers must compulsorily develop training programs using simulators that meet the upgraded requirements. Stringent regulations as such will drive the usage of simulators thereby driving simulation software in this region. According to U.S. Department of Defense, by 2022, U.S Military had committed to invest more than $11 billion for virtual, augmented and mixed reality training systems and simulator. Hence these factors drive the market growth in the forecast period 2021-2026.

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Simulation Software Market Drivers

Growing advancements in simulation software

Simulation software companies are strengthening their position through mergers & acquisitions and continuously investing in research and development (R&D) activities to come up with solutions to cater to the changing requirements of customers. In addition companies such as Siemens, Rockwell, Ansys, and so on are planning to invest in advanced technologies such as artificial intelligence with a target to provide cost competitive Finite Element Analysis and Computational Fluid Dynamics products in the market in the forecast period.

In 2020 Ansys Inc. entered into a definitive agreement to acquire Lumerical Inc., which is a leading developer of photonic design and simulation tools. The acquisition will add a wide range of photonics products to the Ansys Multiphysics portfolio, providing customers with a full set of solutions to solve its next-generation product challenges.

In 2019, Altair Engineering Inc. launched a new manufacturing simulation solution for additive manufacturing, Inspire Print3D. The solution is aimed explicitly at selective laser melting (SLM).

In 2020, Kumux has launched the 2.0 version of its spectral simulation software, which allows the creation of differential lighting, beneficial to people’s health and plant growth.

In 2018, Simufact Engineering, an MSC Software company and expert in manufacturing process simulation, had launched Simufact Additive software solution for the simulation of metal additive manufacturing processes. Hence these advancements are analyzed to drive the market growth in the forecast period 2021-2026.

Growing adoption of simulation software among aerospace & defense

The aerospace & defense industry has been one of the major end users of simulation as they use modelling and simulation for numerous purposes including, training of individual soldiers, conducting joint training operations, formulating operational plans, developing doctrine and tactics, and analyzing alternative force structures, Finite Element Analysis and Computational Fluid Dynamics.

The technology fulfills critical defense needs of command, control, and communications; manpower, personnel, and training; computing and software; electronics; and manufacturing technology. These defense models and simulations vary in a broad range from components of large weapons systems through system-level to simulations of missions and battles, and so forth. Such significant applications are the major factors driving the growth of the global market in these industries.

Simulation Software Market Challenges

Data security is the major challenge for simulation software

One of the major challenges in Simulation Software is data security. Investment in data security to avoid simulation attacks is one of the major challenges faced by the simulation software companies. Simulated attacks might send fake phishing attacks to employees or attempt cyber-attack on a company’s web application firewall. High investment into data security is the major challenge companies which is hampering the growth of the market. However, the introduction of many cybersecurity tools at affordable prices is set to invest in simulation software, thereby driving the market growth.

Simulation Software Market Landscape

Software launches, acquisitions, Partnerships and R&D activities are key strategies adopted by players in the Simulation Software market. In 2020, the market of Simulation Software industry outlook has been fragmented by several companies. Simulation Software top 10 companies include Altair Engineering, Ansys, Autodesk, Bentley Systems, CPFD Software, Cybernet, Dassault Systems, Design Simulation Technologies, Mathworks, PTC, Siemens PLM Software among others.

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Acquisitions/Software Launches

• In 2020, PTC, Inc. launched a 3D computer-aided design software named as Creo 7.0. This software has the new abilities to put the power of artificial intelligence at the fingertips of the designers, hence making the simulation a unified part of the daily work.

Related Reports

Finite Element Analysis Market – Forecast 2021 – 2026
Report Code: ITR 76891

Computational Fluid Dynamics Market – Forecast(2021 – 2026)
Report Code: CMR 0323
For more Information and Communications Technology Market reports, please click here

Ride Hailing Market Overview:

According to the UN World Tourism Organization (UNWTO), world international tourism faced an increase of 6%, which corresponds to 1.4 billion tourists, in 2018. This highlights the need for safe commute and transportation system. With the advent of ride hailing services, travelling and commutes across the world have improvised along with better public safety, reduced transportation cost, and location tracking systems. Additionally, the transportation network companies (TNCs) have adopted user-friendly e-hailing apps that provide convenient rides to passengers with valuable services such as door-to-door transport, car rentals, car sharing, and peer-to-peer ridesharing. While people in bigger cities have to spend a larger section of their time in carpool lanes, trains, buses, and taxis, the ride hailing facilities make everyday commute a much easier process. Resultantly, there is a growing demand for these services in many developed and developing nations across the world as a result of which the global ride hailing market was valued to be $54.08 in 2018. During the forecast period 2019-2025, the ride hailing market is projected to grow at a CAGR of 18.45%.

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Asia-Pacific has the largest population in the world, which increases the demand for transportation facilities. Asian countries such as China, India, and Japan are advancing towards digitalization. Moreover, on an average, 52 minutes are spend in commuting by the Beijing citizens according to an assessment made by the World Economic Forum. All these factors effectively propel the ride hailing market growth in APAC. The region held 47.56% of the global ride hailing market share in 2018. Among other ride sharing services, e-hailing is generating major public demand owing to several advantages such as sound navigation, traffic information, convenient payment options, customer-friendly feedback and tracking facilities, and so on. The e-hailing segment is evaluated to grow at a CAGR of 19.87% through 2025.

Ride Hailing Market Growth Drivers:

· Not only is ridesharing beneficial for the commuters across the world, but it also successfully reduces the use of a lot of vehicles for travelling ; reduces, minimizes traffic crowding; reduces emissions; decreases the total number of trips made by a vehicle, and is also cost-effective. Consequently, the ride hailing market is growing rapidly over the period.

· Ride hailing service providers come up with additional options such as e-transaction, driver reviews, location tracking and sharing as well as other value-based rides such as micro mobility and car rental facilities. These techniques and services have revolutionized the passenger travelling experience, thereby surging the demand in the global ride hailing market.

Ride Hailing Market Key Players:

Several renowned mobility service providers (MSPs) in the global market include Herts, Uber, Grab, Gett, Ola, BlaBlaCar, DiDi, Lime, and Lyft.

Uber is a multinational TNC that offers various ride hailing services in many countries across the globe. Prioritizing the safety for every individuals, Uber provides track technology through its upgraded app and 24/7 support team. Additionally Uber has entered into several other mainstream industries with its other divisions such as Uber Eats, Uber for Business, Uber Health, Uber Freight, and Uber Elevate.

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Ride Hailing Market Trends and Innovations:

· Electrification of Ride Hailing Vehicles:

The huge benefits that the ride hailing business offers is attracting a lot of companies to enter into this field. Companies are taking green initiatives to lower vehicular emission by increasingly adopting electric vehicles. According to the International Council on Clean Transportation (ICCT), DiDi is leading the cutting age revolution of eco-friendly measures acquiring around 260,000 electric vehicles in 2017 which equals 1.3% of its total convoy of vehicles. This list is followed by Ola with 0.6% electric vehicle share and Grab, Lyft, and Uber with less than 0.2% electric vehicles of the entire fleet. This increase in demand for electric vehicles is anticipated to hike in the near future.

· Safety Ride Apps For Women And Children:

Ridesharing services have been advancing considerably in the past few years by delivering a dozens of innovative facilities to the riders all across the world. A major initiative is promoted by Safr, which permits the female passengers to select the gender of the driver, offers a comprehensive detailing about the driver’s training, and also provides an SOS option service app. Furthermore, HopSkipDrive is another ride hailing app that gives safe and smarter transportation solutions to children by employing professional caredrivers who have a minimum of 5year experience in caregiving.

· Collaboration With Other Sectors:

Ride hailing service providers have entered the mainstream business in the recent times and the companies are foraying into various industrial sectors such as food delivery, healthcare, freight business, and many more. In compliance with the Health Insurance Portability and Accountability Act (HIPPA), Uber is contributing to the healthcare industry by offering safe and secure scheduled rides to the patients and caregivers. Also, another instance of healthcare and ridesharing collaboration is the partnership of Blue Cross and Blue Shield and Lyft to offer rides in remote communities, thereby mitigating missing health checkups due to lack of effective transportation.

Ride Hailing Market Research Scope:

The base year of the study is 2018, with forecast done up to 2025. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. It also provides information on unit shipments. These provide the key market participants with the necessary business intelligence and help them understand the future of the Ride Hailing market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include the types of Ride Hailing in the Ride Hailing market.

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Ride Hailing Market: Industry Coverage:

The Ride Hailing market also analyzes the major geographic regions for the market as well as the major countries for the market in these regions. The regions and countries covered in the study include:

•           North America: The U.S., Canada, Mexico

•           South America: Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, Costa Rica

•           Europe: The U.K., Germany, Italy, France, The Netherlands, Belgium, Spain, Denmark

•           APAC: China, Japan, Australia, South Korea, India, Taiwan, Malaysia, Hong Kong

•           Middle East and Africa: Israel, South Africa, Saudi Arabia

Overview

Rabies Vaccine Market is estimated to reach $970 million by 2025, and is observed to grow at a CAGR of 6% during forecast period of 2019-2025. Growing awareness on prevention of rabies, and support from government are the key factors driving the growth for the rabies vaccine market.

Key Takeaways

• The Rabies Vaccine Market size during 2018 is $635.6 million. The Vero Cells Rabies vaccine segment has the highest revenue by product segment. It is positioned the highest in Rabies Vaccine market share, due to its feasibility and wider application.
• North America held the largest market share with 30% in terms of revenue owing to its development in healthcare sector.
• Education on the causative and preventive measures of rabies, and increased initiatives by government have driven the market. But lack of resources and adequate supply of vaccines in developing nations, hinder the market growth in such regions

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Product Type – Segment Analysis

Vaccines are prepared using cellular substrates such as hamster kidney cells, chick embryo cells, fetal rhesus lung cells, Vero cells and others. The Vero Cell Babies vaccine segment accounted for the largest market share of rabies vaccine market based on product type. This is owing to the feasibility of the Vero Cells. Also, these vaccines can be used for Pre-exposure Prophylaxis and Post-exposure Prophylaxis. This Vero cell vaccines are also safe and have high immunogenicity.

Application – Segment Analysis

Rabies is responsible for more than 59,000 deaths, every year. The heavy expenditure for treatment of rabies cases can be reduced by Pre-exposure Prophylaxis. This preventive vaccine is used by people who are at risk of being infected by rabies as their work exposes them to the virus. Those patients with bite or non-bite exposures are given Post-exposure Prophylaxis to control and treat the infection after it has affected the body. Rabies immunoglobulin is given post exposure to neutralize rabies at the wound site, and is then followed by vaccination.  Post-exposure Prophylaxis is projected to be growing at a CAGR of 4.7%. The post-exposure treatment has also considerably reduced the number of rabies related deaths, even though cases of rabies are high.

Geography – Segment Analysis

North America occupies the largest share by geography, in Rabies Vaccine Market. This is because, the number of deaths attributed to rabies have declined over the past few years. This reduction is due to animal vaccination programs and development of human rabies vaccines by these nations. Government support and establishment of a number of pharmaceutical companies in these regions, also contributes to the rabies vaccine market. North America has a well-established healthcare infrastructure and higher awareness among the people as well as healthcare professionals, which further make the rabies vaccine market dominant.

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Drivers – Rabies Vaccine Market

• Increased government initiatives

With the rise in number of deaths due to rabies, government has increased their efforts to prevent its spreading. The government has educated people and also taken measures to vaccinate animals, thus having reduced the number of rabies cases. This has driven the need for rabies vaccines and hence the rabies vaccines market.

• Increase in the adoption of strays as pets

The increase in adoption of stray animals has also contributed to the rabies vaccine market. As people are well educated about the cause of rabies and its prevention, they have started vaccinating their pets. Adoption of pets has increased which requires more vaccination to be done for adopted pets. Canine vaccines contained a preservative, thimerosal, which was a derivative of mercury. It was harmful to pets and humans. So now most vaccines are devoid of thimerosal. Hence thimerosal or mercury-free vaccines have more potential to grow in demand.

Challenges – Rabies Vaccine Market

• Fewer regulations in low income countries 

Lower income countries have less resources to regulate the virus. The animal control in such nations is very difficult owing to their huge population of stray animals. Also, people in such nations are not completely educated about the disease and its prevention. Some remote areas also lack supply of vaccines which restrain the market further.

Rabies Vaccine Industry Outlook

Research & development and strategic alliances are some of the key strategies adopted by players in the rabies vaccine market. Rabies Vaccine top 10 companies are AstraZeneca, Sanofi Pasteur Inc., Novartis Vaccines and Diagnostics Ltd., Cadila Pharmaceuticals Ltd., GlaxoSmithKline Biologicals, Merck & Co Inc., Wyeth pharmaceuticals, Berna Biotech Ltd., and Medimmune LLC., CSC Pharmaceutical International, and others.

Acquisitions/Research & Development Launches:

• During February, 2019, GlaxoSmithKline (GSK) divested its Chiron Behring Vaccines unit (India, to a clinical biotechnology company Bharat Biotech (India). Chiron Behring Vaccines is one of the largest manufacturer of rabies vaccines. Bharat Biotech can enhance their product portfolio and increase its availability to tackle public health.

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Rabies Vaccine Market Research Scope: 

The base year of the study is 2018, with forecast done up to 2025. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. These provide the key market participants with the necessary business intelligence and help them understand the future of the Rabies Vaccine market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats

 Polyurethane Coating Market Overview:

In 2017, cumulative grid-connected wind capacity had reached 515 GW from which 497 GW onshore and 18 GW offshore wind energy, according to the International Energy Agency. Furthermore, the organization estimates that the demand for energy will escalate by 65% globally between 2018 and 2023.[1] Evidently, this augmented demand will lead to definite production growth of wind turbines that are coated with polyurethane coatings as they impart longevity and better wind energy efficiency. The demand influx in the wind energy sector and the subsequent growth in the manufacturing of wind turbines is poised to drive the polyurethane coating market that is valued at $16 billion as of 2018. Furthermore, the demand in the global polyurethane coating market from various sectors is projected to observe a healthy compound annual growth rate (CAGR) during the forecast period of 2019 to 2025.

Automotive industry and building & construction are major industries that are driving the demand influx in the APAC polyurethane coating market. From all the countries, China is gauged as the major consumer of polyurethane (PUR) coating material for various purposes such as the application of coatings on automotive parts, wind turbines, and structures and buildings. In 2018, China contributed with more than 200 GW of wind energy to the world’s total wind energy output,[2] according to the World Wind Energy Association (WWEA). This attributes to the heavy usage of wind turbines that chiefly supported the polyurethane coating market. Furthermore, there is a noticeable consumption of polyurethane coatings in other countries of Asia that include India, Indonesia, and Japan. APAC had the maximum regional polyurethane coating market share of 36% in 2018.

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Polyurethane Coating Market Outlook:

Polyurethane coatings are surface coatings that have organic units of carbamate (or urethane) links or even thermoplastic polyurethanes. The coating was used as an aircraft coating during World War II. Owing to their properties such as high resistance and durability, polyurethane coatings are used in various sectors such as automotive, construction, and wind energy.

In 2018, the total number of vehicles produced were gauged to be 91,538,640,[3] and the future foresees more vehicles with the evolution of the electric vehicles market and self-driven trucks market along with demand for autonomous cars. This will lead to a greater demand influx in the polyurethane coating market as the key application of the product is found to be in the automotive sector. The demand for polyurethane coating in the automotive application segment is estimated to observe a CAGR of 4% through to 2025.  

Polyurethane Coating Market Growth Drivers:

·         The Expansion of the Building & Construction Industry –

The population growth through to 2050 as documented by the United Nations (UN) will lead to a definite demand for building & construction across the globe in order to suffice the infrastructural needs. Apparently, water-borne polyurethane coatings are prevalently used for both wall and floor coatings for abrasion resistance, chemical resistance, and weathering. According to the Institution of Civil Engineers (ICE), the volume of construction output will grow by 85% that will translate to $15.5 trillion worldwide by 2030.[4] Subsequently, this will lead to a consistent demand for polyurethane coating in the building & construction industry.

·         The Application of Polyurethane Coating on Wood –

The increase in disposable personal income has enabled people across the globe to afford expensive wood flooring. Polyurethane coatings are used in wooden floorings as they are found to retain the texture of the wood that deteriorates over time due to water-rot. Additionally, wood flooring is also used in some showrooms and shops. The palpable prevalence of wooden floorings and ceilings in the homes and commercial complexes across the globe is further flourishing the polyurethane coating market.  

·         The Growth of the Aerospace Industry Leading to Demand Influx –

There is a tangible growth of aerospace industry predominantly in North America and some countries of APAC such as China and India. Polyurethane coatings when applied on aircraft implant durability and resistance to ultraviolet (UV) light, weathering, and chemicals that can be detrimental to the body of aircraft. Moreover, PUC protects aircraft against corrosion by reducing oxidation and itching of aluminum skin. The enhanced production of aircraft in order to suffice the foreseeable need for transportation in the future will significantly support the polyurethane coating market.

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Polyurethane Coating Market Trends –

·    Water-Based Polyurethane Coatings – Two component water-based acrylic polyurethane coatings are found to be useful for coating concrete and rigid substrates. This application is poised to observe growth in the future.

·       In January 2018, Pidilite Industries announced the acquisition of majority shares in CIPY Polyurethanes Pvt. Ltd. According to CIPY which is a major player in the polyurethane coating market, the partnership is envisioned to position the company in the floor coating segment.

·    In October 2018, Covestro developed the first bio-based coating hardener for polyurethane coatings. This will impart a better ecological footprint in the application of coatings and will help save energy. The adaptation of organic products has become rampant in each sector, and this award-winning innovation is expected to bring a shift in the polyurethane coating market.

Polyurethane Coating Market Challenges –

The biggest challenge in front of the vendors in the polyurethane coating market is that despite its durability, toughness, and high gloss, the coating is harmful to the environment as they release VOCs during application. However, water-based polyurethane and 100% solid polyurethane coatings have sustained their position in the market. Furthermore, the vendors are minimizing the use of isocyanides in the polyurethane coatings and re-inclining their manufacturing strategies and making the product eco-friendly.

Polyurethane Coating Market Key Players Perspective –

The major players crusading for polyurethane coating market share are Akzo Nobel NV, Asian Paints Limited, Axalta Coating Systems LLC, PPG Industries Inc., Valspar Corporation, Sherwin Williams, Jotun, RPM International, BASF, Bayer, Solvosol, and Endura.

Polyurethane Coating Market Research Scope:

The base year of the study is 2018, with forecast done up to 2025. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. It also provides information on unit shipments. These provide the key market participants with the necessary business intelligence and help them understand the future of the polyurethane coating market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The polyurethane coating market research report also analyses the application of the product in the automotive, aerospace, building & construction, and other industries.

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Polyurethane Coating Market Report: Industry Coverage

The polyurethane coating market report also analyzes the major geographic regions as well as the major countries in these regions. The regions and countries covered in the study include:

• North America: The U.S., Canada, Mexico
• South America: Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, Costa Rica
• Europe: The U.K., Germany, Italy, France, the Netherlands, Belgium, Spain, Denmark
• APAC: China, Japan, Australia, South Korea, India, Taiwan, Malaysia, Hong Kong
• Middle East and Africa: Israel, South Africa, Saudi Arabia

 OverviewThe market for OTR Tires is forecast to reach $7.57 billion by 2025, growing at a CAGR of 4.75% from 2020 to 2025. The significant rise in the demand for agriculture, construction and mining machinery is set to boost the OTR tires market during the forecast period 2020-2025. The rising off-high way vehicle sales, is a key driving factor for the OTR tires market. The growing mining activities and the significant deployment of the commercial vehicles is further escalating the market growth rate.

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Report Coverage

The report: “OTR Tires Market – Forecast (2020-2025)”, by IndustryARC covers an in-depth analysis of the following segments of the Product Security & IT Security Assessment market. 
By Product Type: Wheeled, Rubber tyresBy Construction type: Bias tyre, belted bias tyre, radialBy Rim size: <24.9inch, 25.1 inch – 49.9 inch, 50.1 inch – 63.0 inchBy Process: Pre cure, Mold cureBy End user: Construction, Mining, Industrial equipment, agriculture trucksBy Geography: North America, South America, Europe, APAC, and RoW

Key Takeaways

• Asia-Pacific dominates the OTR Tires industry owing to rising production of automobiles in the region alongside the wide presence of agriculture and construction sector
• Increasing demand for the off-highway vehicles and the adoption of the advanced technologies such as tire monitoring system is set to contribute to the growth of the market.
• Increasing adoption of sustainable and environment-friendly automotive components and implementation of stringent government regulations related to automobile emissions will increase the market demand for OTR Tires during forecast period.

End user – Segment Analysis

The commercial vehicles production has risen by 2% in 2019 as stated by OICA majorly due the high demand from agriculture and construction machinery. The construction and mining segment is analysed to hold highest market share in 2019 owing to the vast construction and mining projects in various developing economies. Bacanora Lithium has announced plans to begin the construction of Sonora project in Mexico with an investment of $420mn in the second quarter of 2020, and has also stated that it is set to be Mexico’s first large-scale lithium mine. Therefore the growing projects are significantly set to impact on the market growth rate during the forecast period 2020-2025.

Geography – Segment Analysis

In 2019, APAC dominated the OTR Tires market, followed by North America and Europe. This is majorly attributed to the high procurement of the off highway vehicles in the countries such as China and India. As Agriculture is the major factor for the economies in India, China, Vietnam and so on, the procurement of the agriculture machinery is significantly high thereby contributing to the market growth rate. Adding to this, the growing mining sector is further contributing to the OTR tires market. In 2015, Newmont has also invested $500m in a significant expansion of the Boddington gold mine’s south pit, thereby extending the mine’s lifespan until 2025. All these factors are significantly contributing to the growth of the market during the forecast period 2020-2025.

Drivers –OTR Tires Market

Increasing sales of off-highway vehicles

The significant rise in the off-highway vehicles such as tractors, agricultural machinery and so on is set to boost the market growth rate. The increasing adoption of the heavy vehicles in agriculture and construction as well are impacting the growth of the market. Adding to this, the adoption of the monitoring systems for the tyres in the commercial sectors is set to further escalate the market growth rate.
Rising mining activitiesThe significant rise in the mining sector alongside the deployment of the heavy machinery is set to contribute to the growth of the market. In June 2019, Canadian bullion producer Yamana Gold has announced that the current Phase 1 expansion of Brazil-based Jacobina mine is expected to increase the mine’s output to about 170,000 ounces a year by 2021. These growing mining activities is set to drive the OTR tires market during the forecast period 2020-2025.
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Challenges – OTR Tires Market

Low cost tires from unorganized market

The availability of the low cost tires from the local players as unorganized market is impacting the market growth rate. The significant growth of the local players in the market is certainly hindering the market growth rate. The high adoption of the repair services of the tires from the local players is certainly impacting on the market during the forecast period 2020-2025.

Market Landscape

Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the OTR Tires market. Transmission repair driver market is expected to be dominated by major companies such as Continental, Bridgestone, Michelin, Goodyear, Pirelli among others.

Acquisitions/Technology Launches

• In October 2019, Continental announced plans to launch a bias line of General brand OTR tires in 2020, including L5series, E3 series, and E4 series line.

  Network Access Control (NAC) Market is forecast to reach $4.06 billion by 2025, after growing at a CAGR of 27.89% during 2020-2025. Network security software solutions include firewall, antivirus/antimalware, NAC, Data Loss Prevention (DLP), Intrusion Detection System/Intrusion Prevention System (IDS/IPS), secure web gateways and many others. In the recent years, NAC solution is expected to rise by changing the network security software market space. In addition to this, deployment of NAC services also enables enterprise to access the network nodes securely by denying the noncompliant devices. Also, higher level of security is provided by addition of biometric reader to the access control system. Thereby, the growing security concerns on from networked devices is set to drive the NAC market during 2020-2025

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Report Coverage  Key Takeaways

• North America dominates the Network Access Control Market owing to increasing demand from end users such as BFSI, Healthcare and others. 
• With the growing adoption of Safe and protected transaction, the implementation of NAC solutions has been increased.
• Implementation of NAC solutions for IT and digitalization projects across various industry verticals will increase the market demand for NAC Market in the nearby future.
• Deployment of NAC Solution for large number of ports is difficult which may hinder the growth of NAC market during the given forecast period.

Type of Network Access Control (NAC) – Segment Analysis
The software segment has been increasing enormously due to recent developments by the companies such as Cisco, IBM and Others. For instance, in June 2019, Cisco launched Artificial Intelligence (AI) Network Analytics that will enable Information Technology (IT) teams to function at machine speed and scale through personalized network insights.NAC software is majorly deployed in BFSI and government sectors for regulatory compliance applications such as Payment Card Industry Data Security Standard (PCI DSS), Control Objectives for Information and Related Technology (COBIT) and so on.. Thus, the rising adoption of regulatory compliance has been continuously leveraging the deployment of NAC Solutions across various organizations. Also, the Growing emphasis of Web-based services in the government sectors is expected to provide large opportunities for the NAC solutions due to its deployment in government cybersecurity and others which is set to drive the market during 2020-2025.

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End-User- Segment Analysis
On the basis of end-use, the NAC solutions market has been segmented into the government, BFSI, manufacturing, healthcare, telecommunications, IT and others.BFSI sector has been the primary market for Network Access Control Market for many years. With the rising safety concern in the banking sectors, most of them are looking for the network access solutions to carry out various operations such as transactions, internal monitoring and others. Also, the growing R&D investments in software network access solutions will boost the market for Network Access Control Market in BFSI sector in the coming years. With the increasing needs for safe and protected transaction, the banking system has impelled the use of network security solutions. The NAC tools verify security configuration of devices before granting access to a network. With the implementation of the NAC solutions the user will be forced for authentication, prior to granting actual access to the network. There by these solutions are majorly deployed for carrying out protected transaction.The innovative NAC solutions and products are been deployed across various industry verticals, due to the emerging cloud-based services, next generation of NAC solutions, emerging security based on complete endpoint visibility, and increasing Bring Your Own Device (BYOD) trend which will boost the NAC market during the given forecast period 2020-2025. 
Geography – Segment Analysis
North America dominated the Network Access Control Market with a major share followed by APAC and Europe in 2018. North America houses the major players of the NAC market such as Cisco Systems Inc, ForeScout Technologies Inc, Trustwave Holdings Inc, Bradford Network Inc, Pulse Secure LLC and others.Cisco has partnered with experts in the anti-virus, patch management, and personal firewall fields to extend the NAC solution to address all areas of concern which will further boost the NAC market in the North American region and other regions as well Additionally, the existing datacenter facilities in North America are also witnessing expansions, which will approximately increase the usage of Network Access control Solutions and boost the market. For instance, in March 2019 Cyxtera has, announced the expansion of its datacenters in Phoenix, Silicon Valley, New York, Metro Atlanta, and Toronto, which will set to boost the NAC solution during the given forecast period.
Drivers – Network Access Control Market

• Continuous development of hardware and software NAC Solutions 

NAC uses the network infrastructure to enforce security policy compliance on all devices seeking to access network computing resources; this results the limited damage from emerging security threats such as viruses, worms, and spyware. There by, the continuous development of hardware and software NAC solutions will further boost the NAC market during 2020-2025. 

• Rapid increase in Cyber Attack

Cyber Security industry is growing every day due to rapid increase in cyber-attacks. For instance, 100,000 groups in approximately 150 countries and more than 400,000 machines were infected by the Wannacry virus in 2017, which accounted to losses of around $4 billion. In 2017, cybercrime costs accelerated with organizations spending nearly 23 percent more than 2016 — on average about $11.7 million. There by companies such as Cisco and others has been launching advance network access solutions for the security of data centers. The shift increase in the cyber-attacks and increasing investments towards preventive solutions is set to boost the NAC market from 2020 to 2025. 
Challenges – Network Access Control Market

• High cost for the successful implementation of NAC

NAC Solution faces monetary challenges due to high installation and implementation cost. For instance, network access control implementation cost from $100,000 to 1000,000 and 18 months of time duration for the complete implementation. Apart from these, there are various requirements for the successful implementation of NAC which include settlement of IT department, including desktop support staff, network administrators and security people and others. There by, these requirement will further add up cost for the solution and may likely to hinder the growth of the market.
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Market LandscapeTechnology launches, acquisitions and R&D activities are key strategies adopted by players in the Network Access Control Market. Major players in the Network Access Control Market are Cisco Systems Inc, ForeScout Technologies Inc, Extreme Networks Inc, HPE, Bradford Networks Inc, and Avaya Inc, and others.
Acquisitions/Technology Launches

• In Nov 2019, Forescout Technologies Inc has launched cloud based eye segment for the transformation of Enterprise Wide-Network Segmentation. 
• In May 2019, Forescout technologies Inc launched Inaugural device cloud research based on leading device intelligence.
• In Aug 2019, Forescout Technologies Inc collaborates with VMware to create Comprehensive IoT LifeCycle and Security Management Solutions.

 OverviewMicrosegmentation Market is forecast to reach $2.7 billion by 2025, at a CAGR of 23.4% during 2020-2025. Increased consciousness to secure cloud environment that keeps the cloud traffic safer and blocks potential breaches from corrupting the servers, rising price of cyber-attacks which is posing a hazard to data storage within the network and increase in use of applications, connected devices, and mobile devices are another driving factors for the growth of market. Micro-segmentation is very useful in lowering valuable security budgets and policies in various industry verticals. For Instance in 2017, VMware NSX adopted micro-segmentation to apply security policies in a more granular and automated way. Similarly several manufacturing companies started using technology for decreasing security budgets and cyber threats. Such adoption and usage will accelerate the demand for Microsegmentation market in the forecast period.

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Report Coverage The report: “Microsegmentation market Report– Forecast (2020-2025)”, by IndustryARC, covers an in-depth analysis of the following segments of the Micro Segmentation Market.  Key Takeaways

• Managed services segment is expected to grow at the highest CAGR during the forecast period as it plays a major role in the deployment of Microsegmentation software according to requirement of client 
• BFSI vertical is expected to witness the highest CAGR in the forecast period as this sector needs continuous upgradation of its processing and transaction technologies
• North America dominated the Microsegmentation market share by 45% due to major presence of sustainable and well-established economies such as U.S. and Canada.
• Major players In Microsegmentation market include Bracket Computing, Cisco Systems, Cloudvisory LLC, Extrahop Networks, Guardicore, Juniper Networks, Nutanix, Opaq Networks, Shieldx Networks and Unisys Pvt Ltd.

Service – Segment Analysis

• The managed services segment is expected to grow at a CAGR of 12.5% during the forecast period as it plays a major role in the deployment of Microsegmentation software according to requirement of client and this service also play a major role in decreasing the cyber threats as Global cyber threats are increasing rapidly. For Instance according to the report given by Hiscox in 2019, almost 74% of organizations have a very novice infrastructure, while only 10% of the organization worldwide have the necessary infrastructure to deal with the cyber threats, for this deployment of managed service is one of the major solution which will drive the market in the forecast period. Rising demand for services such as planning, designing, testing, integrating, maintenance, and support which require deployment of managed services for on-time delivery, reduction of capital expenditure, operating expenses are also some of the key driving factor for managed services on Microsegmentation market.

Vertical – Segment AnalysisBFSI vertical is expected to witness the highest CAGR of 11.5% in the forecast period as this sector needs continuous upgradation of its processing and transaction technologies and requires end-to-end security solutions to optimize operations against both internal and external threats. The loop holes in the technological advancements such as smart banking, internet banking and mobile banking have attracted the cybercriminals. For Instance according to the report given by The Financial Conduct Authority (FCA) in 2018, number of cyber-attacks reported by UK financial services firms increased to 48% in 2018, from 25% in 2017. On the other hand, online transactions are increasing in rapid pace due to technological developments in many major countries. For instance, in India, online transaction increased to $1.2 billion in 2018-19, registering a growth of 51% over the previous year. Thus, this industry continuously upgrades its security infrastructure thereby creating opportunities for Microsegmentation market.
Geography – Segment AnalysisIn 2018, North America dominated the Microsegmentation market share by 45% due to major presence of sustainable and well-established economies such as U.S. and Canada, who invest heavily in Research and Development (R&D) activities and contributes to the development of new technologies. The startup culture in North America is growing at a faster pace as compared to the other regions. The rising number of developing Small and Medium-sized Enterprises (SMEs) and the increasing digitization in large organizations have aided the growth of the North American Microsegmentation market. SMEs are flexible in incorporating new technologies such as Microsegmentation, artificial intelligence-driven micro-segmentation, Network Microsegmentation into their existing systems, whereas large organizations have heavy budgets for digitization. All these factors are driving the growth of the market in North America. The storage requirements of the US are boosting the demand for current data center capacity expansion, need for new virtual data centers and their security. The advanced security solutions and improved data mining functionality are expected to drive the Microsegmentation market size in this region.
Drivers – Microsegmentation Market

• Growing demand for integrated data protection and workload isolation in SMEs

Microsegmentation in SME’s create secure zones in data centers and cloud deployments and allows them to isolate workloads from one another and secure them individually as SMEs in different industry verticals do not have stringent security measures for safeguarding their data, cloud infrastructure, networks, endpoints, and applications. The demand for Microsegmentation solutions is increasing rapidly across these enterprises as the dominant delivery model need to meet IT security requirement. Thus increase in SME’s will create opportunities for Microsegmentation market in the forecast period.

• Increasing Cyber attacks

The demanding requirement from consumers and regulatory bodies are bringing disruption in different industry verticals sector. In recent time, cybersecurity attacks are increasing rapidly. For instance, according to the report given by Engineering Employers Federation (EEF) in 2018, about 48% of manufacturers had suffered a cybersecurity attack and 21% of manufacturers have lost intellectual property due to cyber-attacks. Similarly, according to the report given by DNS Cyber-attacks on financial firms rise by 37% in 2018. Microsegmentation which is widely used to reduce the cyber threats will likely to get enormous demand during the forecast period.

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Challenges – Microsegmentation Market

• Lack of integrated verification tools

Microsegmentation is a great approach to reducing the attack surface area and limiting damage from security breaches but a conceptual approach alone is not enough without understanding the interactions between the workloads, applying fine-grained controls using micro-segmentation can block legitimate application flows. Integrated tools which are used to correlate, visualize, and adjust security-related changes to business application flows across multiple end points does not exist. This makes it difficult to implement a micro-segmentation strategy where every workload is only accessing resources that are necessary for its legitimate purpose. All these segments will hamper the market in the forecast period.
Market LandscapePartnership and acquisitions are key strategies adopted by players in the Microsegmentation market. In 2018, Microsegmentation industry outlook has been moderately concentrated by the top five players accounting for 52.45% of the share. The Microsegmentation top 10 companies include Bracket Computing, Cisco Systems, Cloudvisory LLC, Extrahop Networks, Guardicore, Juniper Networks, Nutanix, Opaq Networks, Shieldx Networks and Unisys Pvt Ltd.
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Acquisitions/Technology Launches

• In November 2019, Palo Alto Networks is acquiring Aporeto, a provider of zero trust cloud security, application identity and distributed firewall services. Aporeto’s software provides micro-segmentation security services that safeguard on-premises and public cloud applications. Palo Alto expects to close the $150 million acquisition in the company’s fiscal second quarter. 
• In August 2019, Enterprise software giant VMware acquired endpoint security company Carbon Black in a move bloster its security threats and ability to detect cyber threats

 Overview

Magnesite Market is forecast to reach $11.39 billion by 2025, after growing at a CAGR of 5.54% during 2020-2025. The key factors driving magnesite market growth include increased demand for magnesite, particularly in chemical and construction industries and increased the production of different grades worldwide. Magnesite is a mineral with a chemical formula of magnesium carbonate and occurs as veins in and an alteration product of ultramafic rocks, serpentinite and other magnesium-rich rock types in both contact and regional metamorphic terrains. These magnesites are often cryptocrystalline and contain silica in the form of chert or opal. Furthermore, the increase in demand from refractory applications primarily in the iron & steel industries fuel the growth of the market. The report covers Magnesite Market size by type and Applications, Magnesite Market share by top 5 companies and also the market share by start-ups during the forecast period.

Report Coverage

The report: “Magnesite Market – Forecast (2020-2025)”, by IndustryARC, covers an in-depth analysis of the following segments of the Magnesite Market.

Key Takeaways

• Growing cement consumption across the globe, magnesite use as a cement additive in the cement industry is majorly driving the growth of the magnesite market
• The chemical segment is expected to grow at a significant rate due to magnesite absorbent property which makes it useful for spill cleanup of hazardous chemicals.
• Magnesite is also used to treat industrial wastewater containing heavy metals and silica. Increasing use of magnesium oxide in a growing demand for magnesite application in wastewater treatment, animal feed and magnesia-based wallboards are the key supporters for the positive impact on the growth of magnesite.
• Magnesite tumbled stones are used by metaphysical healers to release tension, stomach cramps, muscle spasms and to relieve overly sensitive skin or organs. It is the most important healing crystal for anything related to a Magnesium deficiency.

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By Type – Segment Analysis

Dead-Burned Magnesia segment held the largest share in the magnesite market in 2019. Dead burned magnesia is primarily used for refractory purposes. It has the highest melting point compared to other commonly used refractory oxides. Hence, dead burned magnesia is the most suitable material for usage in high-temperature processes for heat containment, especially in the steel industry. When compared in terms of abrasion resistance, strength and chemical stability, fused magnesia is superior. According to the European Association of Mining Industries, Metal Ores, and Industrial Minerals, the European Union (EU) extracts around 2.9 million tons of primary material (expressed as magnesite ore), accounting for 10% of the world production.

By Application – Segment Analysis

The construction segment held the largest share in the magnesite market in 2019. Due to the refractory properties of magnesite, it is widely being used in the construction industry. The primary end-user of refractory materials is iron and steel industry. Magnesite is gaining popularity as an additive in cements used for construction. According to the Institution of Civil Engineers, the global construction market in 2015 is set to grow by US$ 8 trillion by 2030, reaching a total size of US$ 17.5 trillion and increasing by an average annual rate of 3.9% to 2030. The rising construction sector demands cement and other construction materials such as magnesite, which is contributing towards the global magnesite market growth.

Geography – Segment Analysis

North America dominated the magnesite market with a share of more than 37.7% during the forecast period.  This can be attributed to the large-scale production of magnesite in this region with regulatory support offered from various countries. The US and Canada are the major contributors in this region due to numerous manufacturers. Due to massive demand from construction and chemical industries and an actively growing manufacturing base in North America, it will propel the magnesite market during the forecast period. According to Indian Minerals Yearbook 2015, the total reserves/resources of magnesite as per UNFC system by 2013, were about 328 million tons, of which reserves and remaining resources are 21 million tons and 307 million tons, respectively.

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Drivers – Magnesite Market

·         Magnesite with high storage capacity to drive market growth.

Magnesite vendors are introducing products with a high storage capacity specifically for applications that need to store large amounts of data such as action cameras, drones, and video surveillance systems. The trend of capturing high-definition pictures and video and the implementation of automation technologies across various sectors are driving the need for high-capacity Magnesite.

Challenges – Magnesite Market

·         Stringent environmental regulations

Stringent environmental and government regulations implemented to reduce environmental pollution arising from steel production is a major challenge faced by magnesite manufacturers as it is one of the important refractory material. This is a major challenge which is hindering the growth of magnesite market. ‘Air and Leaching Pollution Scenario by Iron and Steel Plants, in central India’ research paper stated that, In India iron and steel industries, are, among the 17 most polluting industrial sectors, identified by the Central Pollution Control Board (CPCB).

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Market Landscape

Technology launches, acquisitions and R&D activities are key strategies adopted by players in the insulated wall panels market. In 2019, the market of magnesite has been consolidated by the top five players accounting for xx% of the share. Top 10 cpmpanies in the magnesite market are  Baymag, Calix Inc, Grecian Magnesite, Haicheng Xiyang Magnesium Ltd, Houying Group, Liaoning Wancheng, Magnesita, Magnesium Group, Magnezit Corporation ad Queensland Magnesia Pty Ltd among others.

 Lithium-Ion Battery Cathode Material Market size is forecast to reach $21.29 billion by 2025, after growing at a CAGR of 10% during 2020-2025. Increased reliability and performance of lithium-ion batteries has led to increased demand, which in effect drive the market for cathode materials. Increasing the lithium-ion battery applications has also guided market growth. 

Report Coverage

The report: “Lithium-Ion Battery Cathode Material Market – Forecast (2020-2025)”, by IndustryARC, covers an in-depth analysis of the following segments of the Lithium-Ion Battery Cathode Material Market Industry. By Type: Cobalt, Manganese, Phosphate, Nickel Cobalt Manganese, Lithium Iron Phosphate, Others
By Application: Power Tools, Medical Equipments, Consumer Electronics, OthersBy End Use: Electrical and Electronics, Automotive, Energy, Medical, OthersBy Geography: North America, South America, Europe, Asia Pacific, RoW 

Key Takeaways

• APAC dominates the Lithium-Ion Battery Cathode Material market owing to increasing demand from the electronics sector in the region.  
• Lithium ion batteries are most effectively used in power backups, mobile, laptops, electric mobility, energy storage systems, and in consumer electronic goods.  
• The market drivers and restraints have been assessed to understand their impact over the forecast period. The report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. 
• The other key areas of focus include the various applications in Lithium-Ion Battery Cathode Material Market and their specific segmented revenue. 

Lithium Ion Battery Cathode Material Market Segment Analysis – By Type

Cobalt held the largest share in the Lithium-Ion Battery Cathode Material market in 2019. The cathode content comprises 60 per cent of cobalt and constitutes 50% of the cathode’s weight. Cobalt market have historically been driven because of battery demand, mainly from consumer electronics representing 25 percent of demand. The high specific energy makes lithium cobalt a prominent material for mobile phones, laptops and digital cameras. The battery consists of a cathode of cobalt oxide, and a carbon anode of graphite. The cathode has a layered structure, and lithium ions pass from the anode to the cathode during discharge. The flow inverts load. Li-cobalt’s downside is a relatively short life cycle, poor thermal stability and reduced capacity to load. Li-cobalt’s downside is a relatively short life cycle, poor thermal stability and minimal (specific power) load capability. Like other cobalt-blended Li-ion, Li-cobalt has a graphite anode that restricts cycle life by adjusting the solid electrolyte interface (SEI), thickening the anode and lithium plating while fast charging and loading at low temperature. Furthermore, various kinds of organic materials, such as conjugated polymers, organosulfur compounds, organic free radical compounds, and organic carbonyl compounds, have been investigated as electrode materials for lithium batteries. Carbon nanotubes (CNTs) are a candidate material for use in lithium ion batteries due to their unique set of electrochemical and mechanical properties. The use of multiwalled carbon nanotubes as a conductive additive at a lower weight than traditional carbons, such as carbon black and graphite, is a more successful technique for creating a network of electrical percolation.

Lithium Ion Battery Cathode Material Market Segment Analysis – By Application

Consumer Electronics held the largest share in the Lithium-Ion Battery Cathode Material market in 2019. High specific energy, high performance and long service life define the lithium batteries. With an output on the order on billions of units per year, these specific properties have made lithium batteries the power sources of choice for the consumer electronics industry. In addition, governments around the world are focused on digitization and encouraging the use of multiple mobile devices. The advantageous features and the forecasted developments in lithium-ion battery technology have made them the dominant battery technology for the domain of consumer electronic devices. The increase in competition and the decline in overall prices for industrial products are contradictory trends which only lead to moderate growth compared to historical trends. In light of projected accelerations in global consumer spending and per capita income, the industry is still expected to grow more rapidly than the previous five-year average. 

Lithium Ion Battery Cathode Material Market Segment Analysis – By End Use

Automotive Industry held the largest share in the Lithium-Ion Battery Cathode Material market in 2019 growing at CAGR of 11%. Recently lithium-ion batteries have started to be used in a number of automotive passenger car applications. The key trend seen on the automotive lithium-ion battery market is increased use of NMC batteries in electric cars for improved performance. This is primarily due to massive decline in NMC battery prices in the last few years. Furthermore, demand for higher range per charge is growing, and these batteries have a higher energy capacity and thus provide a wider range of vehicles. The growing production and demand of electric vehicles is acting as a major driver in the growth of automotive lithium-ion battery. Additionally, rapidly reducing prices of lithium-ion battery components are further supporting the demand of automotive lithium-ion battery. Increased production and sales of electric vehicles coupled with increased efforts to reduce carbon emissions and levels of toxicity are expected to fuel demand for lithium ion battery in the forecast period.

Lithium Ion Battery Cathode Material Market Segment Analysis – By Geography

APAC dominates the Lithium-Ion Battery Cathode Material market with a share of more than 40%, followed by Europe and Asia Pacific. Due to increased usage of EVs and industrial sectors driven by use in telecommunications, railways, electricity, and other industrial applications, the high demand for batteries from the automotive sector drives the battery materials market at APAC. In addition, growing use of lithium ion batteries in energy storage systems, rising government regulations to boost vehicle fuel efficiency, and rapid industrialization are also expected to propel the global demand for lithium ion battery cathodes. By the amount of cobalt within the cathode, the lithium ion battery can be customized. These customizations help to reduce the total manufacturing costs of lithium ion batteries. Therefore, a move towards the use of cost-effective batteries in industries such as oil, coal, and renewable energy is expected to fuel the global demand for lithium ion battery cathodes. Industries are becoming increasingly affected due to COVID-19 pandemic. The coronavirus outbreak has already led to some of the sharpest declines in demand for lithium ion battery cathode material, which has impacted the market.  

Lithium-Ion Battery Cathode Material Market Drivers

Twice energy density will drive the Lithium-Ion Battery Cathode Material market:

The lithium-ion energy density usually is twice the normal nickel-cadmium. Higher energy densities are at potential. The load characteristics are relatively good and in terms of discharge, they behave similarly to nickel-cadmium. The 3.6 volt high cell voltage allows for battery pack designs with one cell only. Most mobile telephones today operate on a single battery. This has lead into increase in usage of lithium ion battery across various applications. Thus having direct positive impact on lithium ion battery cathode material market. 

Lithium-Ion Battery Cathode Material Market Challenges

Price hike can restrict the market:

Recent price hikes for lithium and cobalt has raised concerns regarding the long term supply availability of these commodities. Over 95 percent of global lithium supply occurs as a primary product in the form of brines with global production footprint including Latin America, Australia and China. Less than 10 percent of cobalt supply occur as primary product with remaining as by-product of primarily copper and nickel mines. 

Lithium Ion Battery Cathode Material Market Landscape

Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Lithium-Ion Battery Cathode Material market. In 2019, the market of Lithium-Ion Battery Cathode Material has been consolidated by the top five players accounting for xx% of the share. Major players in the Berry Global Inc., Anchor Packaging Inc., Intertape Polymer Group, 3M, and ITS B.V, and others. 

Acquisitions/Technology Launches

• In October 2017, Lithium Australia acquired advanced cathode material producer, the Very Small Particle Company (VSPC). VSPC owns proprietary processes for the production of lithium ion battery cathode material, a comprehensive pilot plant, and an advanced laboratory and testing facilities. 

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The Global Industrial & Institutional Cleaning Chemicals Market size is forecast to reach around $53 billion by 2025, after growing at a CAGR of 9% during 2020-2025. Industrial and institutional cleaning chemicals are those cleaners envisioned for routine cleaning of institutions, warehouses, offices, and industrial facilities. The rise in environment protection awareness, growing need to reduce waste, increasing safety and environmental regulations, growing public awareness of health and hygiene, and growing disposable hygiene industry in the developed and developing regions drives the growth of Industrial & Institutional Cleaning Chemicals market during the forecast period. Whereas, rise in health concerns about recent outbreaks of COVID-19 and increases the use of sanitation applications that also contribute to the growth of global Industrial & Institutional Cleaning Chemicals market size over the study period. Report CoverageThe report: “Global Industrial & Institutional Cleaning Chemicals Market – Forecast (2020-2025)”, by Industry ARC, covers an in-depth analysis of the following segments of the Global Industrial & Institutional Cleaning Chemicals Industry.  By Material Type: Chlor-Alkalis (Caustic Soda, Soda Ash, Others) Surfactants (Nonionic, Anionic, Cationin, Others) Solvents (Alcohol, Hydrocarbons, Chlorinated, Others) OthersBy Application: General Purpose Cleaners, Floor Care Products, Warewashing Detergents, Disinfectants & Sanitizers, Laundry Care Products, Vehicle Wash Products, OthersBy End-Use: Commercial (Food Service, Retail, Vehicle Wash, Laundry & Dry Cleaning, Offices, Hotels, Transportations and Distributions, Others) Industrial (Food & Beverage Processing, Electronics Components, Fabricated Metals, Others) Institutional (Healthcare, Government, Educational, Others) OthersBy Geography: North America, South America, Europe, APAC, RoW

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Key Takeaways

• In the Asia-Pacific region, in 2019, China and India are the major market for the Industrial & Institutional Cleaning Chemicals owing to growing population and e-commerce sector. 
• The growing popularity of environment-friendly cleaning chemicals like green solutions and economically viable technologies is likely to aid in the market growth of global Industrial & Institutional Cleaning Chemicals industry.
• The cleaning chemicals market in Europe is projected to witness a substantial growth during forecast period due to rising health awareness in the educational sectors of the UK, Germany, Italy, Spain, and France.
• The growing demand for cleaning chemicals, several companies from different business background have entered in this market. For instance, The Clorox Company expanded its business into the institutional sector from the consumer product.

Material Type – Segment AnalysisThe surfactant segment held the largest share of more than 30% in the Industrial & Institutional Cleaning Chemicals market in 2019 due to growing demand for Nonionic, Anionic, and Cationic detergents from various industrial sectors like Petrochemical for Process vessel cleaning and fin fan and heat exchanger cleaning, in food processing for fat and blood removal, general cleaning, and in pulp & paper for plywood equipment cleaning and machine boil-outs. Furthermore, the use of surfactant offer various benefits such as it increases penetration of cleaning solution by reducing surface tension, emulsifies and suspends soils so they are more easily dispersed into solution, and are effective against fats, oils, and greases, which makes it extensively useful for various end-use market such as many general use cleaning formulations, sanitizers, and food processing industry.
Application – Segment AnalysisThe disinfectant & sanitizer segment is projected to witness a highest CAGR of around 12%  in the global Industrial & Institutional Cleaning Chemicals market during the forecast period due to growing uses of alcohol based disinfectant & sanitizers across various end-use markets like  hospitals, schools, office buildings, restaurants, and hotels and growing awareness among the consumers regarding the importance of hygienic environment. Whereas, the use of disinfectants and sanitizers aid to reduce the spread of germs on hard nonporous surfaces and also kill most pathogens and disease-causing microscopic organisms on surfaces to lower the risk of transmitting infection
End-Use – Segment AnalysisThe commercial segment held the largest share of more than 35% in the global industrial & institutional cleaning chemicals market in 2019. This is attributed to the growing food service, retail, transportation, and vehicles wash centers in the emerging nations like China and India. Besides, the growth of the e-commerce sector in the developed and developing regions is also contributing to the growth of this segment during the forecast period. Furthermore, the growing the demand for floor care products and warewashing detergents from food industry is also contributing for the market growth.
Geography – Segment AnalysisAmong the regions, the APAC region is projected to witness a highest CAGR of around 13% in the global Industrial & Institutional Cleaning Chemicals market followed by North America and Europe during the forecast period. The growing urbanization, changing lifestyle, and rise in food processing, transportation, and textile industry further propels the growth of I & I chemical cleaner market over the study period. Furthermore, the growing investment by the key players such as Procter & Gamble and Unilever across the region is also fuelling the growth of Industrial & Institutional Cleaning Chemicals share in the APAC region.

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Drivers – Industrial & Institutional Cleaning Chemicals Market

• Growth of e-commerce industry 

The growth of e-commerce sector is directly linked to the growth of population internet penetration, industrialization, and the growth of chronic disease. Furthermore, owing to the growth of chronic disease consumers are enduring to avoid crowded public places, so they are increasingly turn to online shopping to get their essentials, which in turn drives the growth of e-commerce market. Additionally, the outbreak of COVID-19 chronic disease across the region and the shortfall of hand sanitizers and other cleaning chemicals from retail stores, supermarkets, and healthcare centers are driving the growth of online sales, which intern propels the growth of e-commerce sector. For instance, Reckitt Benckiser Plc., have tripled the number of people in e-commerce in between 2017 and 2019 from just over 300 to over 1,000 full-time employees. Besides, the company also made other major investments, such as the £100 million R&D Centre in the United Kingdom that comes on stream in mid-2019. In addition, the growth of Small and Medium-sized Enterprise (SMEs) online channels in developed and developing regions is also contributing in the growth of e-commerce sector. The most used e-commerce platforms are Amazon, Alibaba, C-discount, Fancy, and EBay. The growing technological advancements and developments in the e-commerce sectors such as chatbots based on artificial intelligence technology, payments methods like E-wallets including Apple Pay and Google Pay, adoption of robots and automation systems in logistics to streamline inventory management and shipping, and customizations of the products and their brands along with the newsletter of the respective products with customer feedback are likely to boost the growth of e-commerce industry during the forecast period.

• Implementation of Stringent Environment Regulations

The growing environmental awareness among consumers and stringent environment norms from developed and developing regions drive the demand for chemical solutions with lower concentrations of volatile organic compounds (VOCs). Governments globally are focusing on green practices for reducing the impacts of chemicals on human health and the environment. Moreover, the growing industry interest in eco-friendly and sustainable products like bio-based, flexible and recyclable packaging’s, and dispensing equipment, that will further boost the adoption of Industrial & Institutional Cleaning Chemicals.
Challenges – Industrial & Institutional Cleaning Chemicals Market

• Cleaning chemicals cause health hazard

Cleaning is essential for better health and protecting from the spread of viral infections at workplaces, educational institutes, and commercial sectors. As cleaning is an important factor, then knowing the cleaning chemical product types, specifications, and their impact on the health is also a crucial factor due to presence of various hazardous ingredients in chemicals. If the cleaning chemical products are not used/handled as per the instructions/guidelines provides by the manufacturers/suppliers/distributors then it may cause to health problems like irritate the eyes or throat, or cause headaches, and other health problems, including cancer. For instance, in garage the use of antifreeze contains ethylene glycol which is extremely poisonous can cause severe damage to the heart, kidneys and brain if not handled properly.  Furthermore, in laundry detergents the cationic detergents are the most toxic can result in nausea, vomiting, shock, and convulsions. In addition, the non-ionic detergents are less toxic compared to cationic but can irritate skin and eyes if not used as per the guidelines. Besides, the presence of lack of skilled operators, various small scale local manufacturers, and various industrial companies engage in wasteful methods of chemical cleaning are restraining the growth of this market.  For instance, in 2016, the U.S. Environmental Protection Agency (EPA) proposed to ban trichloroethylene (TCE) chemical product owing to the health risks associated with workers when used as a degreaser and a spot removal agent in dry cleaning. Additionally, in February 2020, McCune Wright Arevalo, LLP (MWA) a law firm has filed case against Ecolab, Inc. in the United States District Court on behalf of the three plaintiffs. The plaintiffs were alleging that they sustained personal injuries through use of defective and unreasonably dangerous products, Oxide Daily Disinfectant Cleaner, and the Oxide Dilution Management System supplied by Ecolab Inc.
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Market LandscapeTechnology launches, acquisitions and R&D activities are key strategies adopted by players in the Industrial & Institutional Cleaning Chemicals market report. In 2019, the market of Industrial & Institutional Cleaning Chemicals top 10 companies accounting for xx% of the share. Major players in the Industrial & Institutional Cleaning Chemicals Market industry outlook are Ecolab Inc., Diversey, Inc, 3M, BASF SF, Procter & Gamble, Clarient AG, Solvey, Huntsman International LLC., Eastman Chemical Company, Reckitt Benckiser Group PLC, Spartan Chemical Company Inc., Stepan Company, and Westlake Chemical Corporation, Akzo Nobel N.V., among others. 
Acquisitions/Technology Launches

• In 2019, Ecolab Inc., acquired the cleaning solution provider Chemstar Corporation the US based supplier of food safety and cleaning and sanitizing solutions mostly focused on the grocery and food retail markets. This acquisition helps the company to spread is base across the US and Canada grocery and food retail markets.