Blood Cancer Drugs Market Information, Figures and Analytical Insights 2020– 2026

The global blood cancer drugs market is anticipated to reach USD 55.6 billion by 2025 according to a new report published by Polaris Market Research. The report ‘Blood Cancer Drugs Market [By Blood Cancer Type (Leukemia (Acute Myeloid Leukemia, Chronic Myeloid Leukemia, Acute Lymphoblastic Leukemia, Chronic Lymphocytic Leukemia), Lymphoma (Hodgkin Lymphoma, Non-Hodgkin Lymphoma (B-Cell Lymphoma, T-Cell Lymphoma)), and Myeloma; By Drugs (Rituaxan/Mabthera (Rituximab), Gleevac/Glivec (Imatinib), Revlimid (Lenalidomide), Velcade (Bortezomib), Tasigna (Nilotinib), Pomalyst (Pomalidomide), Vidaza (Azacitidine), Kyprolis (Carfilzomib), Adcetris (Brentuximab Vedotin), and Others); By Treatment Approaches (Chemotherapeutic, mAbs/Targeted Therapies, and Immunotherapeutic); By Region]: Market Size & Forecast, 2017 – 2025’ provides insights on the current market scenario and the future prospects.

 

The demand for blood cancer drug is primarily driven by growing death incidences by blood cancer, and continuous innovation for developing novel treatments with the help of several ongoing clinical trials. Moreover, increasing research and development of biological and targeted therapies as treatment will spur the blood cancer drugs market during the upcoming period. However, the high price of drugs and the stringent government policies will limit the growth of blood cancer drugs market during the forecast period.

 

Most of the blood cancers start in the bone marrow, where blood is produced. In blood cancer the growth of normal blood cells is dislodged by the uncontrollable growth of abnormal blood cells. These cancerous cells prevent the blood from performing many of its functions. Hence, the existing treatments of blood cancer are being the foundation for developing the new drugs. The steady flow of the blood cancer drugs has created opportunity for research and development in the existing market. For instance, Amgen Inc. received approval for BLINCYTO in July 2017, which is used in treating B-cell precursor Acute Lymphoblastic leukemia. Similarly, European blood cancer drugs market witnessed the approvals of Gazyvaro, by Roche AG that is used in treating advanced follicular lymphoma. Also, novel technologies like CAR-T are likely to be launched this year.

 

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The global blood cancer drugs market is segmented into blood cancer type, drugs and treatment approaches. On the basis of blood cancer type, the global blood cancer drugs market is segmented into leukemia, lymphoma and myeloma. The lymphoma segment is expected to drive the majority market of blood cancer drugs followed by leukemia. The global market of this segment is primarily driven by the increasing prevalence of lymphoma, and presence of effective treatments in the market. On the basis of drugs, the global blood cancer drugs market is further categorized into Rituaxan/Mabthera (Rituximab), Gleevac/Glivec (Imatinib), Revlimid (Lenalidomide), Velcade (Bortezomib), Tasigna (Nilotinib), Pomalyst (Pomalidomide), Vidaza (Azacitidine), Kyprolis (Carfilzomib), Adcetris (Brentuximab Vedotin), and Others. This continuous innovation for treating various sub-types of blood cancers has led to the development of novel types of treatments. For instance, the combination of Revlimid and Velcade has emerged as the preferential drugs in trials for treating multiple myeloma.

 

 

On the basis of treatment approaches the global blood cancer drugs market is further segmented into Chemotherapeutic, mAbs/Targeted Therapies, and Immunotherapeutic. Due to availability of variety of chemotherapeutic agent in the market chemotherapeutic drugs are expected to hold the higher share in blood cancer drugs market. Moreover, their effectiveness for the treatment of blood cancer and increasing number of cancer patients globally has garnered more demand for chemotherapeutic drugs throughout the world.

 

Geographically, the global blood cancer drugs market is segmented into North America, Europe, Asia Pacific, and the rest of the world. North America dominates the blood cancer drugs market which is followed by Europe and Asia Pacific. Favorable reimbursement policies, surge in R&D investments of various companies, as well as the increase in the number of blood cancer treatments are some of the major factors responsible for the growth of North America’s blood cancer drugs market. Moreover, Asia-Pacific region has been identified as the lucrative market for the for blood cancer drugs due to increasing awareness of the use of these drugs, increased healthcare expenditure, and rising per capita disposable income. These are some of the major factors which are influencing the growth of the blood cancer drugs in Asia-pacific region. 

 

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The leading companies operating in this industry include Johnson & Johnson Inc., Amgen Inc., Bayer AG., Pfizer, Inc., AbbVie Inc., Roche Holding AG., Celgene Corporation, AstraZeneca, Novartis AG, GlaxoSmithKline PLC, Merck & Co., Inc., and Eli Lily & Co. among others.

 

Key Findings from the study suggest blood cancer drugs in the market are much innovative and manufacturers are progressively concentrating on innovation of combination drugs. Companies are in a stage of development of new drugs in order to provide novel treatments for blood cancer. The immunotherapy segment is anticipated to grow at a high growth rate over the forecast period. The growth of this segment is primarily driven by increased awareness for its use as an alternative and effective treatment for blood cancer. North America is presumed to dominate the global blood cancer drugs market over the forecast period. Asia Pacific region which shows signs of high growth potential owing to the booming economies of India, and China.

 

Pharmaceutical Robot Market Poised for Steady Growth in the Future 2020-2026

The global pharmaceutical robots market size is anticipated to reach USD 6,894.1 million by 2026 according to a new report published by Polaris Market Research. The report “Pharmaceutical Robots Market Share, Size, Trends, Industry Analysis Report By Product Type (Traditional Robot (Articulated Robot, SCARA Robot, Delta/Parallel Robot, Cartesian Robot, Dual-Arm Robot), Collaborative Robot); By Application (Picking and Packaging, Laboratory Applications, Inspection of Pharmaceutical Drugs); By End Use (Biopharmaceutical Companies, Research Laboratories); By Regions, Segments & Forecast, 2019 – 2026” provides a complete analysis of present market trends and future insights.

 

The pharmaceutical robots market is expected to grow at a phenomenal rate owing to an expanding pharmaceutical industry and increasing benefits of automation. Advancements in technological sphere and reduction in production overheads because of automation has witnessed growth at a fast pace.

 

Machines are utilized in various modes including drug discovery and medical device manufacturing. Robots are lending themselves for even more scientific research which is upcoming trend nowadays. Laboratory automation is the driving segment in this industry.  Pharmaceutical robots aid in picking, placing and packaging kits and assays from one point to another. The Robots carry this responsibility owing to which scientists can focus on more important tasks. Use of robots reduces labour drastically that directly reduces the burden on production estimates.

 

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Robots are categorized into traditional and collaborative robots.  Traditional ones seek maximum revenue and are driving growth in the field of automation. But collaborative is expected to reach maximum growth in forecast period due to less maintenance requirements as compared to traditional. The traditional are further segmented into articulated, SCARA (selective compliance articulated robot arm), delta/parallel, cartesian, and others (spherical and dual-arm).

 

The key players operating in the industry include Fannuca America Corporation, Kawasaki Heavy Industries Ltd., Denso Wave Inc., ABB Ltd., Yasakava Electric Corporation, Universal Robots A/S, Seiko Epson Corporation, Marchesini Group S.P.A, Kuka AG and Mitsubishi Electric Corporation.    

 

Polaris Market research has segmented the Pharmaceutical Robots market on the basis of product type, application, end-use and region.       

·         Product Type outlook (Revenue USD Millions, 2015 – 2026)

o    Traditional

o    Articulated

o    SCARA

o    Delta/Parallel

o    Cartesian

o    Dual Arm

o    Collaborative

·         Application Outlook (Revenue USD Millions, 2015 -2026)

o    Picking and Packaging

o    Laboratory Applications

o    Inspection of pharmaceutical drugs

·         End-Use Outlook (Revenue USD Millions, 2015 -2026)

o    Biopharmaceutical Companies

o    Research laboratories

·         Regional Outlook (Revenue USD Millions, 2015 -2026)

o    North America (U.S., Canada)

o    Europe (Germany, UK, France)

o    Asia Pacific (China, India, Japan)

o    Latin America (Brazil, Mexico)

o    MEA

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Thermochromic Materials Market Potential Growth, Share and Demand Analysis of Top Key Players

 The global thermochromic materials market size is anticipated to reach USD 8.29 billion by 2026 according to a new report published by Polaris Market Research. The report “Thermochromic Materials Market Share, Size, Trends, Industry Analysis Report By Type (Liquid Crystals, Leuco Dyes); By Product (Reversible Thermochromic Materials, Irreversible Thermochromic Materials); By Application (Paints and Pigments, Medical Devices, Food Quality Indicators); By Regions: Segment Forecast, 2019 – 2026” provides detailed insight into current growth indices and taps future market trends.

 

 In 2018, paints and pigments segment dominated the global market in revenue terms. 2018 also saw Europe coming good with majority share in global thermochromic materials market. A growing demand for reversible thermochromic materials in application industries is expected to drive market growth over forecast period.   

               

The textile industry drives growth due to nurturing of smart textiles. The use of product in paints, inks and pigments bolsters growth. A growing trend towards smart and intelligent packaging has shot the demand for product in food quality indicators and labeling ahead. There has been diligent use of product in applications such as toys, baby diapers and battery gauges which are on an increasing drive worldwide. A growing demand from developing economies, striving applications and technological advancements are factors expected to boost the industry growth during forecast period.

 

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The growing use of product in food quality indicators to ascertain the quality of frozen meat and dairy products in double with use of thermochromic materials in inks, paints and coatings is forecasted to drive growth.

 

Restraints exist with difficult to encrypt chemical formulations and in keeping formulation stable over the entire process of reversible thermochromic materials which are expected to hamper market growth. However constant R&D will ease the instability issues with reversible materials and will in turn attract market growth.

 

Europe dominated the global industry for thermochromic materials during forecast period. A significant rise in determining quality of packaging in frozen food and meat supports the growth in the region. An increasing trend overseen is employing smart and intelligent packaging which has resulted in high product demand in the region.

 

Asia pacific has grown at a fast rate during forecast period. Increasing demand from textile and automotive industries is the reason for high growth of thermochromic materials in the region. Leading global players are eyeing nations of China, Japan and India to strongly foster growth opportunities on offer by these countries.

 

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The players functionally merge with other players to come up with new product launches in order to meet consumer expectations. The key industry players in thermochromic materials market include Shanghai Caison Color Material Chem.Co. Ltd., QCR Solutions, Indestructible Paints Limited, New Color Chemical Co, Hali Industrial Co Ltd., Fraunhofer IAPP, Kolortek  CO. Ltd., LCR Hallcrest LLC, and New Prismatic Enterprises Co. LTD.

 

Polybutadiene Market Poised for Steady Growth in the Future 2020-2026

 The global polybutadiene market size is estimated to reach USD 7.83 billion by 2026 growing at a CAGR of 5.9% during the forecast period, according to a new report by Polaris Market Research. The report “Polybutadiene Market Share, Size, Trends, Industry Analysis Report By Type (Solid Polybutadiene Rubber, Liquid Polybutadiene Rubber); By End-User (Automotive, Chemical, Industrial, Others); By Regions, Segments & Forecast, 2019 – 2026” enumerates current industry estimates and taps future growth markets.

 

In 2018, the automotive sector dominated the global industry in terms of revenue. Asia Pacific is expected to be the foremost contributor to the global polybutadiene market during the forecast period. A significant growth in the automotive industry along with escalating production of motor vehicles is expected to spur the market. Other driving factors include accelerated pace of industrialization, ramping up of vehicles and industrial mechanization.

 

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The rising growth is attributed to definitive properties such as abrasion resistance, high resilience and infinite resistance. It is used in cohorts with other rubbers for the manufacture of tires, industrial products and consumer products. Tire manufacturing is the major application segment.

 

However stringent environmental concerns and a strict government order are expected to restrict growth of this market.  A stimulating demand from developing nations, technological enhancements, dedicated use of polystyrene and ABS in production of consumer goods are boosting growth. A premise to an eco-friendly environment and eco-friendly tires are motivating factors to growth of polybuatdiene market during forecast period.

 

An increasing demand for synthetic rubber to be used in tire manufacture is cause for high growth. Polymer modification application shows resolute growth in polybutadiene market because of the intrinsic demand for modified polymer and golf balls.

 

Asia Pacific witnessed rising growth by generating the highest revenue and is expected to lead during forecast period. The economic boom in the region coupled with maximum growth in automotive industries and growing living standards are expected to drive market growth. A pushing demand for production of tires and industrial automation are expected to boost growth in the region during forecast period.

 

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Hence a robust application industry is mainstay for growth in Asia Pacific, The presence of industries such as JSR Corporation and Reliance Industries is fueling t growth in the region.

 

North America overshot growth estimates in 2016 due to presence of major tire manufacturers including Goodyear, Copper Tires and Proline. MEA is expected to observe insipid growth on account of price volatility because of reduced crude oil production.

 

The leading players include China Petroleum and Chemical Corporation, JSR Corporation, Reliance Industries Ltd., Lanxess AG, Kumho Petrochemical Co. Ltd, The Goodyear Tire and Rubber Company, UBE Industries Ltd., Synthos S.A, Evonik Industries and LyondelBasell Industries NV among others.

 

Phenolic Resin Market Research Report Analysis And Forecasts To 2026

The global phenolic resin market size is expected to reach USD 18.1 billion by 2026 growing at a CAGR of 5.4% during the forecast period according to a new study published by Polaris Market Research. The report “Phenolic Resin Market Share, Size, Trends, Industry Analysis Report By Product (Novolac, Resols), By Application (Wood Adhesives, Molding, Insulation, Laminates, Paper Impregnation, Coatings, Refractory Materials, Friction Material, Rubber & Tire, Electronics, and Abrasives); By End-Use (Building & Construction, Automotive, Electrical & Electronics, Furniture); By Regions, Segments & Forecast, 2020 – 2026” gives a detailed insight into current market dynamics and provides analysis on future market growth.

 

The market is projected to witness a significant growth over the forecast period. Phenolic resins exhibit favorable properties such as heat & chemical resistance, moisture resistance, superior mechanical strength among others. In addition, ability to customize these products into different grades has resulted in the further expansion of application portfolio of phenolic resins.

 

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Favorable versatility and diversity of phenolic resins also makes them suitable for innovative product designs with high aesthetic appeal, such as in architecture, aerospace structural components and others. Furthermore, product and application innovation in impregnated materials is likely to present lucrative opportunities for growth in this market over the forecast period.

  

Phenolic resins for molding compounds are anticipated to emerge as the fastest growing market segment over the forecast period. Phenolic resins in molding compounds lend high heat stability & lower the curing times required. Expansion of the aerospace and retail transportation sector in countries such as Mexico, India, Indonesia, and Thailand are encouraging the demand for large parts with higher mechanical strength, which in turn is driving phenolic resins consumption.

 

The R&D efforts in Europe by market participants are also expected to impact phenolic resins production and processing technologies in other regional markets of the globe. Recent innovations have led to the development of unique prepreg resins that completely eliminate the need for refrigerated shipping and storage, enable increased service temperatures and improve safety, while lowering residual stress as compared to conventional phenolic resins raw materials. This may lead to greater substitution of phenolic resins across the globe over the near future.

 

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Market participants are concentrating more on providing customized products to their clients. Companies strive to provide a one stop solution to all the client needs. To achieve this scenario, companies are considerably investing in R&D to develop novel products as product differentiation and ability to modify existing products are critical success factors in this market.

 

Some of the major players in the market participants include Owens Corning, Arclin Inc., Ashland Inc., DIC Corporation, Hexcel Corp., Momentive Specialty Chemicals, Sumitomo Bakelite Co. Ltd, Olympic Panel Products LLC, BASF SE, SI Group Inc, Hexion, Asahi Kasei, GUN EI Chemical Industry, Kangnam Chemical Co. Ltd., Changchun group, DYNEA, Zhejiang Hangmo, Yushiju Chemical, Hitachi Chemical Co. Ltd., and Red Avenue New Materials.

 

Air Purifier Market Growth Prospect, Future Trend, Comprehensive Analysis and Forecast

 The global air purifier market size is expected to reach USD 28.3 billion by 2027 according to a new study by Polaris Market Research. The report “Air Purifier Market Share, Size, Trends, Industry Analysis Report by Type (High-efficiency Particulate Air (HEPA), Activated Carbon, Ionic Filters), By Application (Commercial, Residential, Industrial), By Residential End-Use (Bedroom, Living Room, Kitchen), By Regions, Segments & Forecast, 2020 – 2027” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The market is expected to witness significant growth due to the pandemic outbreak. Air Purifier Air Purifier are widely used in residential, manufacturing facilities & industries, hospitals & healthcare, environmental consulting, bars and restaurants, museums, odor control, laboratory, commercial, retail, and construction & infrastructure industry to improve the indoor quality of air. Air Purifier filter the air that circulates through the system. It traps and holds various types of particulates and contaminants such as pollen, dust & dirt, bacteria & microorganisms, hair & animal fur, fibers & lint, metal, plaster or wood particulates, mold & mold spores, that have an effect on the health and comfort.

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Air Purifiers can be defined as a valuable and the most sophisticated systems used for air purification. The market is very much organized even in developing economies such as India and China as well. The market in the Asia Pacific region is expected to grow at a CAGR of around 14% from 2020 to 2027. The product in the past found acknowledgement only in the premium segment but now is finding demand from mid-segment as well. The industry rivalry in the market is currently high and is expected to further get fueled due to the rising demand post pandemic.

Existing manufacturers and brands are trying hard to diversify their product portfolio across almost all price points, are taking concentrated efforts to expand and catalyze their R&D efforts and are investing heavily in such efforts. Awareness creation regarding health benefits of air Purifier is a major challenge faced by industry participants. Strengthening of distribution channels, focus on tier-2 cities especially in developing markets, considerable rise in marketing spend, are some of the top priorities of industry participants.

In addition, air purifier demand for residential sectors in the recent past was due to the demand from consumers who were suffering from ailments such as respiratory disorders. But post pandemic this is not the case as the product is being viewed as a means to clean air and healthy lifestyle and is appealing to the health-conscious consumers across the globe. The market for residential sector is expected to reach USD 9.9 billion by 2027.  

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Awareness about the technology for manufacturing air purifier has increased the competition in the market. The R&D division of a company plays a crucial role in its future growth and improves its competitive potential. Activities related to product quality improvements, innovative designs, new technology invention, and product development are expected to provide a competitive edge to the market players. In order to meet the ever-changing consumer requirements, companies spend huge amounts on research & development activities every year.

Awareness about the technology for manufacturing air Purifier has increased the competition in the market. The R&D division of a company plays a crucial role in its future growth and improves its competitive potential. Activities related to product quality improvements, innovative designs, new technology invention, and product development are expected to provide a competitive edge amongst the players. In order to meet the ever-changing consumer requirements, companies spend huge amounts on research & development activities every year.

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Intelligent Virtual Assistant Market Growth Prospect, Future Trend, Comprehensive Analysis and Forecast

Intelligent virtual assistant market is anticipated to reach $21.52 Billion by 2026 according to a new study published by Polaris Market Research. In 2019, the BFSI segment dominated the global market, in terms of revenue. North America is expected to be the leading contributor to the global market revenue during the forecast period.

 

The growing need to improve customer service, streamline enterprise communication, and increase productivity has boosted the adoption of intelligent virtual assistants. The rising penetration of mobile devices, and integration of virtual assistants with smart home appliances further support the growth of this market. Additionally, the increasing demand of intelligent virtual assistants from small and medium enterprises has supported market growth over the years. Increasing investments by vendors in technological advancements coupled with growing need to improve customer experience would accelerate the adoption of intelligent virtual assistants. However, lack of awareness is expected to hinder market growth. Growing demand from emerging economies is expected to provide numerous growth opportunities in the coming years.

 

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The use of digital assistants and bots is expected to increase in the coming years. Computer programs in the form of bots simulate conversation with users through chat windows and voice calls. They have the ability to perform a number of different automated tasks such as scheduling meetings, managing finances, and others. They also assist in successful use of unified communication tools. These bots could be used as an automated attendant monitoring the interactions and offering instructions to users. 

 

Intelligent virtual assistants are gradually replacing traditional interactive voice response systems. Use of intelligent virtual assistants is proving effective by enhancing customer and brand experience, and providing a consumer-friendly environment. The virtual assistants also offer a platform for convenient communication within businesses through voice, text, and other channels.

 

 

North America generated the highest revenue in the market in 2019, and is expected to lead the global market throughout the forecast period. The presence of established telecom and cloud infrastructure in this region, and growing trend of BYOD drive the market growth in the region. The growing demand of mobile devices, and technological advancements further support market growth in the region. Asia-Pacific is expected to grow at the highest CAGR during the forecast period owing to growing demand of virtual assistant technologies in the developing countries of the region.

 

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The end-users in intelligent virtual assistant market include healthcare, education, retail, BFSI, government, and others. In 2019, the BFSI segment accounted for the highest market share owing to increasing need to offer enhanced customer services, and improve productivity. The demand for intelligent virtual assistants has increased from organizations operating in this sector to improve workforce collaboration, client interaction, and reduce costs. 

 

The well-known companies profiled in the report include Apple Inc., Microsoft Corporation, Google, Nuance Communications, IBM Corporation, Oracle Corporation, [24]7.ai., Speaktoit Inc., CodeBaby Corporation, Next IT Corporation, Intel Corporation, and Clara Labs among others. These companies launch new products and collaborate with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers.

 

IV Tubing Sets and Accessories Market Growth Factors, Regional Analysis, Applications, & Manufacturers and Forecasts

 The Global IV Tubing Sets And Accessories Market Size Is Expected To Reach USD 1,153.6 Million by 2027 according to a new study by Polaris Market Research. I V tubing sets and accessories basically include different parts namely, infusion line, piercing needle, flow regulator, and luer connector attached with IV tube and the needle. These set are often known as intravenous therapy, designed to administer hydrating fluid, drug, medication directly into the circulatory system. Infusion supplies should be sterile disposable single time use products.

Most of the insulin pumps require infusion set to administer insulin into diabetic patients. Flexible tube connects pump reservoir, moving insulin from pump to needle beneath your skin. The selection of the infusion set often decided on the basis of pump compatibility with other accessories, needle insertion angle, gauge and length of cannula, and tube size.

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European market saw a large set of these apparatus procured through group purchasing organizations in volumes at the reduced prices. In China, the market is expected to surpass Europe owing to dramatic entry of 800 million new people through its nationwide universal insurance system.

The global market is driven by a rise in chronic ailments such as cardiac disorders and diabetes, a sudden surge in infectious diseases, an increasing proportion of geriatrics using home-based infusion therapies. According to the International Diabetes Federation (IDF), the number of people suffering from diabetes were 415 million in 2015, which is expected to reach approximately 640 million by 2040.

Market participants such as Baxter International Inc., Becton, Dickinson and Company (CareFusion), Perfect Medical Ind. Co., Ltd, Hospira Inc. (Pfizer Inc.), B. Braun Melsungen AG, Smiths Medical, Fresenius Kabi, C.R. Bard, Inc., Zyno Medical, ICU Medical Inc., Nipro Corporation, Vygon, Poly Medicure, Health Line International Corporation, and Dynarex Corporation are some of the key players operating in the concerned market.

New and existing players are focusing on product innovation and new launches inclined towards dedicated therapy. The U.S. based medical start-up DiaTech Diabetic Technologies announced to launch SmartFusion technology based infusion set, which alerts diabetics with errors on real time basis. This has thumb sized fluid pressure sensing device for insulin pumps to monitor errors in the insulin delivery and sends signals to physicians through Bluetooth connection. According to the company’s claim globally, more than 120 million infusion sets are sold and it is estimated that around 60 per cent insulin pumps experience set failures, resulting in loss of USD 426 million of annual wastage from un-viable sites.

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Lithium-Ion Battery Market Overview with Detailed Analysis, Competitive landscape Forecast to 2027

 According to a new study by Polaris Market Research. The report “Lithium-Ion Battery Market Share, Size, Trends, Industry Analysis Report, By Product Type (LCO, LMO, LFP, NCA, Lithium Nickel Manganese Cobalt, Lithium Titanate); By Cell Type (Cylindrical, Prismatic, Pouch); By Battery Capacity; By End Use; By Regions – Segment Forecast, 2020 – 2027” gives a detailed insight into current market dynamics and provides analysis on future market growth. The global lithium-ion battery market size is expected to reach USD 83.36 billion by 2027

 

Emergence and increasing popularity for Electric Vehicles (EV) is expected to drive the demand for lithium-ion battery in automotive industry. The automotive industry has been witnessing a palpable shift from using nickel metal batteries to lithium-ion batteries in plug-in vehicles and EVs. Beneficial physical characteristics such as small size and lightweight have bolstered the demand for li-ion (lithium-ion) batteries across the automotive industry.

 

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Increasing demand for consumer electronics across the regions has led to the rising demand for lithium-ion batteries. Long battery life along improved performance offered by the product to consumer electronics such as smartphones, tablets, etc. is expected to drive its demand in consumer electronics segment over the forecast period.

 

Lithium-ion batteries are also being used in modern wearable devices, such as healthcare bands, tech tags, and smart watches. Thereby, the development of energy storage technologies is enabling battery manufacturers to introduce advanced li-ion batteries that are compatible with the next-generation battery-operated, electronic products. Currently, various types of li-ion batteries, such as li-manganese oxide, li-ion phosphate battery, li-nickel manganese cobalt oxide battery, and li-cobalt oxide battery, are witnessing high demand as technologically advanced li-ion batteries across the wide range of end-user industries.

 

Incorporation of innovative technologies such as lithium-sulfur battery (li-sulfur) have gained importance as these batteries can store twice the energy per kilogram in comparison to li-ion batteries. In addition, li-sulfur batteries are witnessing high demand as lightweight alternative to li-ion batteries restraining the market growth.

 

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Companies such as BYD Company, Panasonic, Exide Technologies, LG Chem, Saft Batteries, Samsung SDI, EaglePicher Technologies, LLC, GS Yuasa, Hitachi, BAK Group, Energus Power Solutions, Ltd., Lithium Werks, Roofer Technology Co. Ltd, Toshiba, CALB, Akku Tronics New Energy Technology Co., VARTA Storage, Saft Groupe, Farasis Energy, Ding Tai Battery Company Ltd., A123 Systems and Sila Nanotechnologies are some of the key players operating in the global market.

 

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