TECHNOLOGY FACTS

Bergamot Oil Market: Size,Status and Forecast 2022

The bergamot oil market place continues to be dominated by a few exporters as the main growing areas are concentrated in three countries – Italy (Calabria), Ivory Coast, and Brazil. Due to the nature of the product, bulk of bergamot is exported from these three countries to manufacturers all over the globe. The bottlenecks in access to raw material continue to pose challenges for bergamot oil manufacturers where pricing is dictated by a handful of players.

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Bergamot oil is being actively explored by the supplement industry recently. Multiple phenolic compounds found in bergamot oil deliver anti-oxidant, anti-inflammatory and cholesterol-lowering properties. The latter property is explored in nutraceuticals for developing cardio-protective supplements. A number of bergamot formulations in the form of supplements are available in the bergamot oil market or are in pipeline of clinical approvals.

Use of bergamot oil as a perfume ingredient in the fragrance industry is highly valued since older times. Along with the fragrance, the bergamot oil has disinfectant properties and the combination of these properties are explored in the fragrance industry to manufacture fragrance oils that are used in the production of perfumes, deodorants, aromatherapy oils, air fresheners, cosmetics, skin care products and scented candles.

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Approximately 4000 single fragrance ingredients including bergamot oil used in the fragrance industry are monitored through nation-specific regulations. Recent changes in the EU cosmetic legislation and future uncertainty of bergamot oil’s categorization under safe natural fragrance ingredients is expected to present challenges to the bergamot oil market in Europe. If excluded from the cosmetics category, the bergamot oil market in Europe like is likely to witness an upward growth during the assessment period.

Bergamot oil have been thoroughly investigated by the scientific community for their health benefits. Some of the active ingredients of the bergamot oil are studied to deliver anti-microbial, sedative and anxiolytic properties that are used for the treatment of upper respiratory tract disorders, depressive disorder and hyperhidrosis among others. The pharmaceutical industry also utilizes bergamot oil to absorb the unpleasant smells of medicinal products in addition to its health benefits. In addition, bergamot oil has been added to various country’s official pharmacopoeias, thereby propelling the growth of the bergamot oil market.

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Fact.MR’s methodology is robust and comprehensive. We employ a range of tools and assets to develop an all-encompassing coverage of a range of industries. We compile data points at local, country, regional, and global level – our approach to capturing the finest nuances, without losing sight of the bigger picture helps us in developing accurate and reliable forecasts and estimates.

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The standardization also involves use of industry-wide analytical tools, and rigorous quality checks to validate market forecasts and sizes. Our unwavering focus on standardization ensures that clients receive the same quality of research and analysis that Fact.MR is known for.

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Citronella Oil Market Current Trends & Opportunities by 2022

Essential oils have gradually treaded beyond their conventional application in therapeutics and aromatherapy. The global food & beverage sector is witnessing an increasing adoption of citronella oil in production of new food items and beverages. Considering the easy procurement of raw lemongrass, manufacturers of citronella oil products are less likely to face any technical and financial barriers while extending their production capacity. Increasing applications of perfumery chemicals such as geraniol is expected to have an influence on the global sales of citronella oil. However, lack of awareness regarding the benefits of such products is expected to impact the expansion the global market for citronella oil in the years to come.

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Citronella oil is a prominent essential oil made from the extracts of a distinct species Cymbopogon plant. Stems and leaves of this species, commonly known as lemongrass, are used for making citronella oil extracts. The oil is primarily used as a source in production of perfumery chemicals such as citronellal and citronellol.

Popular belief that synthetic production of food items and beverage lowers their nutritional content continues to have a controlling influence on the sales of citronella oil products. Going forward, the demand for naturally sourced citronella oil is expected to remain higher than the demand for organic citronella oil.

While organic production of citronella oil is more feasible than procuring it naturally, consumers are expected to remain more inclined towards benefits of naturally-derived citronella oil. Even the minimal measure of processing involved in production of organic citronella oil is expected to disturb the implicit health advantageous of citronella oil. By the end of 2022, more than three-fourth value of the global citronella oil market will be procured from sales of naturally-sourced citronella oil.

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Demand for citronella oil in absolute form is anticipated to gain traction. The report projects that concentrates of citronella oil will witness a relatively lower demand due to their limited application. In addition to this, the market will also witness a sluggish growth for blended citronella oil products, pertaining to complexities in their production. In 2017 and beyond, a majority of citronella oil will be used in production of food products & beverages. Being the largest application, sales of citronella oil in food & beverage production is expected to contribute more than US$ 14 Mn by the end of 2022. The report also projects that modern trade outlets will account for largest revenue share in terms of global distribution of citronella oil. Online sales of citronella oil products are also expected to gain momentum, towards the end of forecast period, reflecting a steady growth at 4.8% CAGR.

The report has profiled leading manufacturers of citronella oil which will shape the competitive landscape of the global market. Through 2022, companies which are expected to actively partake in the growth of global citronella oil market include, Bio Extracts private limited, Synthite Industries Ltd., D?TERRA International, Greenleaf Extractions Pvt Ltd, Young Living Essential Oils LC, Natures Natural India, Shaanxi Guanjie Technology Co., IL Health and Beauty Natural Oils Co., Inc., Aromaaz International, Linonel Hitchen Essential Oils Ltd, Green Fields Oil Factory, Plant Therapy Essential Oils, and Aksuvital.

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Bath & Shower Toiletries Market: Growth, Capacity, Scope, Revenue, Key-Players, and Forecast until 2022

The growing concern of skin and hair care as a part of overall hygiene in health-conscious populations, world over, is a key factor shaping the evolution of the bath and shower toiletries. The rising demand bath and shower toiletries is supported by the various benefits these confer on the users such as those of general hygiene, rejuvenation and freshness, and even body odor. Various categories of skin and shower toiletries are also increasingly being demanded for keeping skin soft, supple, and healthy, and for ensuring clean scalp and radiant hair.

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The bath and shower toiletries market is witnessing promising trends in the rising demand for skin care products for countering the effects of pollution in numerous developing and developed regions. The rising spending on personal grooming products by urban populations is a notable factor catalyzing the expansion of the bath and shower toiletries market. Furthermore, bath and shower toiletries are increasingly playing a pivotal role in emerging fashion of millennials in developed countries. As a result, the bath and shower toiletries market is expected to witness exciting contours.

The global bath and shower toiletries market is anticipated to garner a modest CAGR of 3.7% from 2017 to 2022. By the end of this period, the bath and shower toiletries market is anticipated to reach a worth of nearly US$48 billion.

Advancements in ingredients used for these hygiene products have in many ways set the pace for product innovations in the bath and shower toiletries market. This is bringing more people to demand bath and shower toiletries across all demographics in ambit, especially in developing and developed regions.

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Health conscious consumers especially in developed regions are conscious of the effect of the ingredients used in bath and shower toiletries. In recent years, they have showed increasing acceptance of organic ingredients or bath and shower toiletries based on natural ones. Meanwhile, they are shunning bath and shower toiletries containing ingredients that have purportedly noticeable side effects. The inclination toward organic bath additives and shower products based on natural ingredients is a notable factor boosting the bath and shower toiletries market.

Among all the sales channels for bath and shower toiletries, online channels are key to vast latent opportunities. Hence, a growing number of producers and manufacturers of bath and shower toiletries are focusing on leveraging this channel in bolstering their positions. The share in the overall bath and shower toiletries market is expected to accentuate considerably with the boost from a booming e-commerce in several parts of the world. The opportunities in the segment is expected to reach a worth of approximately US$ 5 billion in 2022 in the global bath and shower toiletries.

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Color Cosmetics Market – Global Segments, Top Key Players, Size and Recent Trends by Forecast to 2022

The color cosmetics market rides on the back of several macro-trends in the overall beauty industry. The distinct demand trajectories for color cosmetics has been witnessing several spikes over the past few years driven by changing fashion and fads. These changes have been increasingly being driven by consumers who are looking for newer and more effective formulations in skincare and anti-aging products. The growing inclination toward color cosmetics based on natural and organic ingredients has unlocked promising prospects in the market. Strategies on capitalizing on these avenues have led to notable product innovations in color cosmetics, especially in developing and developed regions. Market players are also leveraging the potential of online commerce to introduce new products and tap into emerging markets for color cosmetics.

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There is a vast demand for lip care in the color cosmetics products, world over. The segment contributed a revenue share of around 40% in the global color cosmetics market and by the end of it is forecast to reach a worth of US$33 billion. A large chunk of this revenue, about half of it, is expected to come from Asia Pacific region. However, the demand of nail products is fast gathering steam among the users of color cosmetics. The rising popularity of color cosmetics applied on nail will give a substantial boost to the segment in the coming years, with estimated valuation in 2017 was nothing less than US$ 12 billion. The nail care segment is forecast to rise at a CAGR of 5.2% during 2017-2022.

Asia Pacific is emerging as the regions with immense potential for companies in the color cosmetics market. This is attributed to the large lucrative avenues in key product segments notably facial make-up and hair color segments. A rapidly aging population has led to a burgeoning adult population, women as well as men, increasingly demanding hair dye brands. This is expected to lead to an extensive uptake of hair color cosmetics products in the region. However, in the coming years, players in the color cosmetics market may shift their attention to North America. A probable reason supporting this shift is the higher growth pace of the regional market, which is anticipated to rise at CAGR of 4.1% during the assessment period.

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The facial make-up segment is equally attractive segment in the color cosmetic market. The segment is projected to expand at a CAGR of 4.6%. The opportunities was estimated at US$7 billion in 2017 and is anticipated to touch an approximate valuation of US$8.7 billion.

Hypermarkets/supermarkets are presently the most popular medium of sales channel for manufacturers and retailers of color cosmetics. Presently, the segments contribute the major share of revenue by sales channel amounting to over 75.0% in the global color cosmetics market. The segment is expected to hold its sway in the global color cosmetics market coming few years as well. The segment is projected to rise at 5.5% CAGR from 2017 to 2022 accounting to a revenue of US$18 billion. However, small retailers are offering stiff competition to change the status quo enjoyed by hypermarkets and supermarkets in the overall color cosmetics market. Over the assessment period, the revenue generated by retailers is projected to be US$5 billion.

E-commerce channels in the color cosmetics market are expected to proliferate at a robust CGAR in the coming years. In the year 2017, its revenue share was not substantial amounting to 11.6% in the overall color cosmetics market. However, there are several trends stoking the popularity of online channels for producers of color cosmetics. Rapid advances being made in the internet technologies, especially in emerging and developed economies, and changes in consumer buying patterns, are expected to fuel the demand for e-commerce sales channels in the color cosmetic products. The ease of the accessibility and rapid delivery of products are making e-commerce channel the cynosure of attention for users of color cosmetics.

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Deodorants Market – Size, Application Analysis, Regional Outlook, 2017 – 2022

The worldwide demand for deodorants among consumers is increasingly reinforced by the changing lifestyles and intensifying focus on personal hygiene. The proclivity of a growing number of people toward a pleasing body odor and feeling fresh throughout the day is fueling the demand for deodorants in personal care routines. The need for protecting against perspiration and the consequent foul body odor is propelling the uptake of deodorants. The deodorants market is substantially propelled by the constant launches of body sprays with new fragrances and scents in the personal care industry, especially in emerging economies. Deodorant brands are focusing on exotic fragrances along with functionality and long-lasting protection to gain increased traction among consumers. The growing frequency of usage of deodorants among female consumers in emerging and developed regions is a notable factor driving the market.

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The benefits deodorants confer on consumers center on the following key parameters: functionality, long-last protection, and scents. A key aspect that is gathering steam in the deodorant market is the demand for products made with natural formulations. This is in part attributed to the growing awareness about the harmful effects some chemicals can have on the skin, particularly the underarm skin. The popularity of natural formulations in deodorants is rising as these help in maintaining the natural pH and moisture levels of the body where they are used. Deodorants made with natural/botanical oils are gaining popularity among consumers with sensitive skin. Another trend opening new avenues in the deodorants market is focus of brands on youth. This is notably witnessed in recent marketing messages on the scents and fragrances in deodorants.

The functionality and versatility of deodorants has been a central aspect of product marketing for quite some time. Recent trends suggest that deodorant brands are tweaking with designs and the entire packaging to chart new growth trajectories in the market. They are focused on launching deodorants with attractive designs and innovative packaging styles. These aspects are proving to be pivotal in product differentiation in the deodorants market. A growing number of consumers are also become aware on sustainable packaging for deodorants, thereby creating a new avenues for brands to increase their product reach.

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The rapid pace of urbanization has opened up a plethora of opportunities for deodorant manufacturers, particularly in Asia-Pacific excluding Japan (APEJ). They are tapping into emerging avenues in developing countries. To this end, they have been focused on launching an array of deodorants in the premium range at affordable prices. They are also quick to add new fragrances and scents to meet the changing consumer dynamic in the deodorants market. The fast-paced lifestyles in emerging markets is accounting for the burgeoning opportunities in these regions. Furthermore, brands are experimenting by varying product sizes and shapes.

The report on “Deodorants Market Forecast, Trend Analysis & Competition Tracking: Global Review 2017 to 2022” offers insights into trends and factors shaping the current outlook of the deodorants market and influencing its future prospects. The elaborate assessment of these factors helps in getting a clear view on the dynamics of the deodorants market, opportunities in various segments, and promising avenues in key regions. An analysis of the prevailing competitive landscape and factors expected to change the intensity of competition offers insight into the prospective consolidation strategies by emerging and established players in the deodorants market. The report assesses the prospects of various products such as stick deodorants, spray deodorants, and roll-on deodorants. Furthermore, the scope of various channels in the overall deodorant market is analyzed. Some of the broad distribution channels are supermarkets, online stores, hypermarkets, and specialized cosmetic stores.

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Alpha Olefin Sulfonates Market: Competitive Strategies And Forecasts to 2027

A majority of personal care product manufacturing companies are aiming to mitigate the environmental impacts of their manufacturing processes as consumers are becoming highly conscious about the carbon footprint of the products they use. While alpha olefin sulfonates exhibit a combination of good emulsification properties and foaming properties, these are also readily biodegradable, which boosts their applications in manufacturing eco-friendly surfactants, thereby, complementing growth of the alpha olefin sulfonates market.

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Consumers are becoming conscious about ingredients in personal care products by the virtue of rising awareness about the negative effects of chemicals on the skin. A majority of government organizations, including the Government of Canada, have declared that alpha olefin sulfonates are free from carcinogens, which further provides a fillip to the alpha olefin sulfonates market growth.

Apart from the performance characteristics of alpha olefin sulfonates, such as foaming properties and mildness to the skin, its biodegradability boosts its use as an alternative to linear alkylbenzene sulfonates in a variety of personal care products. The rise in its adoption as an environment-friendly alternative to harmful ingredients is expected to complement growth of the alpha olefin sulfonates market.

While manufacturers in the alpha olefin sulfonates market are concentrating their efforts on minimizing the cost of production, stringent standards and environmental regulations imposed are influencing competitive pricing.

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The European Union has adopted REACH regulations, which stands for Registration, Evaluation, Authorization and Restriction of Chemicals, to mitigate negative impacts of chemical products on the human health and the environment. All the chemical manufacturers, importers, distributors, downstream users, as well as alpha olefin sulfonates market players have to comply with REACH regulations to carry out operations in the European Economic Area (EEA).

In addition, the United States Environment Protection Agency (EPA) has imposed labeling regulations for chemical products manufactured or marketed in the U.S., under its Safer Choice Program. Though participating in this program is not mandatory for alpha olefin sulfonates manufacturers, consumers in the U.S. prefer to purchase products that meet these standards.

Although adherence to these regulations is beneficial considering the long-term impact of chemicals on the environment, a cost escalation is the bitter medicine in the short run.

Despite the growing preference for alpha olefin sulfonates in a wide range of industrial applications, its volatile prices are creating a hindrance in its adoption in some applications. Alpha olefin sulfonates are ethylene based surfactants, which are derived from petrochemical compounds. On account of this, they are prone to constant fluctuations in supply, affecting its price structure.

Due to turbulent raw material prices and supply uncertainties, alpha olefin sulfonates are likely to get replaced in certain applications by bio-based anionic surfactants such as methyl ester sulfonates (MES) and alcohol ether sulfate (AES), which are derived from palm oil and coconut oil, respectively. This may impact future prospects of the alpha olefin sulfonates market.

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Spray Polyurea Elastomers Market – Size & Share – Industry Trend and Forecast 2017 – 2026

According to estimates of Fact.MR in its new research analysis, the global market for spray polyurea elastomers will reflect an impressive 9.6% volume CAGR during the period 2017 to 2026. Nearly US$ 2,760 Mn worth of spray polyurea elastomers are envisaged to be sold across the globe by 2026-end. Analysis on Sherwin Williams, Huntsman Corporation, Specialty Products Inc., and other prominent participants operating in the global spray polyurea elastomers has been incorporated in the report.

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Secondary contamination will continue to prevail as dominant application of spray polyurea elastomers. These elastomers seek extensive application in countering surface degradation in secondary containments, which if ignores might lead to system failures in industrial settings. Paints, rubber linings, and other exterior protection systems are not as durable and reliable as polymers such as polyurea. These materials, unlike polyurea, absorb and release substances, thereby generating contaminant.

Exterior protection systems such as rubber linings and paints impart comparatively lower corrosion and abrasion protection than spray polyurea elastomers. Chemically aggressive fluids seek and exploit vulnerabilities in paint and rubber linings. On the other hand, spray polyurea elastomers are resilient to these fluids, and are devoid of splitting even in harsh weather, which in turn offers excellent safeguarding of secondary containments.

Aromatic Isocyanate is envisaged to persist as preferred raw material for spray polyurea elastomers in light of their poly-functional characteristics. Aromatic isocyanates exert relatively higher reactivity than aliphatic isocyanates. However, challenges remain with regard to high reactivity of the aromatic hyper-branched polyurea, as it reduces port life of coating applied.

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Nevertheless, aromatic isocyanate-based spray polyurea elastomer deliver more effective coatings than their aliphatic counterparts, albeit they are associated with lower ultraviolet and oxidative stabilities.

Revenues from hybrid polyurea are expected to account for bulk share of the global spray polyurea elastomers market throughout the forecast period. Hybrid polyurea delivers long-life, high-build protective coating to metal substrates and concrete used in major commercial, infrastructure, and civil construction projects.

Hybrid polyurea forms an impenetrable barrier, which is resistant to several chemicals as well as water. With inherent properties such as preventing corrosion and outlasting paints, this multi-purpose elastomer is perceiving an enormous demand from fuel containments, chemical tanks, and metallic pipelines applications.

This elastomeric bridging polyurea forms a monolithic surface on concrete walls or slabs, which reduces the material cost and project labor by eliminating the time- & cost-intensive application process of concrete primer, dry sacking, or mortar filling. Such innovative product developments will guide future expansion of the global spray polyurea elastomers market.

North America is foreseen to lead the global spray polyurea elastomers market on account of flourishing mining and construction industries in the U.S. The Canadian economy also offers a favorable environment for growth of these sectors, driven by government support and investments in infrastructure development. This will further rub off on demand for spray polyurea elastomers in waterproofing and wear-resistant coating applications.

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Medical Superabsorbent Polymers Market – Current Trends & Opportunities by 2027

Superabsorbent polymers have perceived increased penetration in the medical sector, with rapid technological developments, and significant funding from investors to research facilities for developing high performance products. Road mishaps and accidents that lead to severe wounds and injuries are a key demand determinant for superabsorbent polymers. The Centers for Disease Control and Prevention (CDC) estimates road traffic injuries to become 7^th leading cause of mortality worldwide by 2030-end.

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Superabsorbent wound dressings have gained paramount importance in the wound care on the coattails of its extremely absorbent and unique core for exudate management. These dressings are deemed highly effective in soaking up wound exudate from venous ulcers, burns, surgical incisions, and chronic wounds. Chronic wounds illustrate an underestimated problem for healthcare systems worldwide.

Chronic wound prevails as a chronic issue, despite billions of spending by healthcare systems in wound care. However, routine clinical practice and research in wound management have meant that advancements in science are imminent for better understanding and addressing chronic wounds. 2-acrylamido-propane sulphonic acid (AMPS) and Polyaspartic acid (PASP)-based superabsorbent polymers, which are sensitive to pH and glucose conditions, are being exploited for chronic wound dressing.

Exuding wound care entails the need for dressing that quickly absorb exudates, and exert effective moisture management during the healing of wounds. Currently available commercial wound dressings are linked with a slew of limitations such as low-absorbency and high evaporation. In addition, non-occlusive nature of these wound dressings, and the requirement for secondary dressing for retaining a moist environment on the surface of wound, have further confined their performance and effectiveness.

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Recognizing the concern, manufacturers have been inclining their preference toward spacer fabrics for use as absorbent medical products. Recent research efforts have given birth to superabsorbent spacer fabrics for application in exuding wound care. The three-layered structure of these fabrics deliver faster wetting speed and twice the absorbency compared to foam dressings. Additionally, air permeability of superabsorbent spacer fabrics is relatively higher, making them suitable for applications in exuding wound dressings.

Superabsorbent polymers have gained immense popularity owing to their pivotal role in the daily care products industry, such as diapers. Superabsorbent materials based on petroleum have sought significant use in the development of these products, however the upward trend of sustainability and green products are now driving efforts for re-invention. Scientists across the globe are therefore working on the production of new eco-friendly alternatives.

Past researches have depicted the ability of bio-based materials, mainly proteins, in absorbing aqueous solutions with effectiveness similar or even relatively higher than that of synthetic superabsorbent polymers. Additionally, advancements in the agricultural sector have been enabling the provision of essential protein-concentrated feedstock procured from side-streams apropos of the bio-refinery field.

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Alkyl Polyglucoside Market – Growth, Capacity, Scope, Revenue, Key-Players, and Forecast until 2029

Fact.MR has updated its widely cited report on alkyl polyglucoside market. The revised report now offers a forecast till 2029, as compared to the previous assessment period of 2018-2028. The updated version of the report includes incisive assessment on new developments and trends that can have a far-reaching impact on the market.

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The study finds that the alkyl polyglucoside sales closed in on 490 thousand tons in 2018, and are estimated to record a Y-o-Y growth at nearly 7.5% in 2019. The alkyl polyglucoside industry remains driven by growing trend of green surfactants, and robust adoption in the personal care and home care industries. This relatively new generation of environment-friendly, biodegradable, commercially available green surfactants – alkyl polyglucoside – has become an imperative component of cosmetic preparations and detergent formulations.

According to the study, alkyl polyglucoside finds considerable demand in homecare products such as surface cleaners, dishwashing detergents and laundry detergents, accounting for over 40% sales. Demand from the homecare industry for renewable materials-based surfactants with improved biodegradability has traditionally augured well for alkyl polyglucoside sales. Additionally, high surface activity and non-toxic nature of alkyl polyglucosides further favor their adoption in various homecare products.

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The study opines that Europe’s lead in the alkyl polyglucoside market will show no signs of abating, with sales in 2018 accounting for over one-third volume share. Supremacy of Europe in alkyl polyglucoside production and consumption has been primarily impelled by stringent regulations of the regional enforcement authorities such as ECHA, REACH, and EEA, on use of surfactants. Low-toxicity and eco-friendly nature of alkyl polyglucoside falls in perfect sync with these regulations, which in turn has propelled their demand across various industries in the region.

The study finds that alkyl polyglucoside continues to gain a significant popularity as an efficacious enhanced oil recovery (EOR) agent, owing to its lower interfacial tensions (IFT) and phase behavior. There is a constant need for surfactant formulations with low IFT, devoid of salinity and temperature conditions, in oilfield EOR applications, wherein alkyl polyglucosides have emerged as sought-after bio-based surfactants. Additionally, higher wetting and dispersing properties, coupled with greater solubility and stability, of alkyl polyglucoside will continue to underpin their sales in the near future.

According to the study, key players in the alkyl polyglucoside market are directing their focus toward expanding their production capacity to cater increasing demand worldwide. Petroleum-based surfactants are being fast replaced with alkyl polyglucosides in various industries, in turn widening gaps between supply and demand. Leading alkyl polyglucoside manufacturers are also concentrating on curtailing cross-regional volume flows through erection of production facilities at various strategic locations.

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Motorcycle Market – Global Segments, Top Key Players, Size and Recent Trends by Forecast to 2026

According to a recent study by Fact.MR, the motorcycle market is expected to witness steady growth during the 2017-2026 period with global sales of motorcycles estimated to reach nearly 40 million units in 2019. Development of enhanced safety mechanisms to safeguard drivers, coupled with improved suspension systems to add comfort continue to influence buying behavior. Additionally, improving road-traffic infrastructure is likely to aid in bolstering motorcycle market growth.

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Higher fuel efficiency relative to other personal modes of communication is a key reason contributing to the surge in the demand for motorcycles over scooters and other two-wheelers. Fact.MR opines the factor augurs well for the standard motorcycles segment which is expected to hold over 60% of the motorcycle market share in 2019.

Increasing traffic congestion and substantial rise in the population is discouraging people from purchasing motorcycles. In addition to this, millennials, who are estimated to hold the largest share in global demographics, are showing an increased preference for not purchasing or riding motorcycles. However, the factors are vital to the growth of the motorcycle rental services marketplace which, in turn, are expected to uphold motorcycle market growth. Development of sophisticated technologies such as data analytics, Internet of Things (IoT), and machine learning are allowing companies to offer novel and innovative bike rental services to consumers who are seeking affordable and temporary options for commuting.

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Motorcycle manufacturers are becoming increasingly aware of the promising prospects the market holds and are investing heavily in the industry. For instance, Yamaha Motor Corp invested US$150 million in Grab, a bike rental service operational in Vietnam, Thailand, and Indonesia. As per the deal, Yamaha and Grab plan to work on making affordable motorcycle models available for people seeking to join the bike rental service. Along similar lines, BMW launched its own bike rental service in Germany, France, and Austria. The company plans to expand its services across different countries if it proves to be a success in Europe. Bike rental services are also becoming increasingly popular among millennials and offer a lucrative alternative to overcome the challenge posed by declining motorcycle sales.

Motorcycle rides are increasingly being marketed as a form of rejuvenation and relaxation. Studies linking motorbike rides to decreased stress levels and enhanced concentration levels are further estimated to contribute to the surge in demand for motorcycles in leisure and recreational activities. Experiential traveling is gradually gaining traction and emerging as a pervasive trend driving the demand for sports motorcycles, cruisers, and adventure bikes. Additionally, the increasing use of motorcycle tours for promoting tourism in a region is expected to create a demand for motorcycles around the world.

A significant increase in recreational activities coupled with the development of lightweight and high-performance motorcycle suitable for different terrains is also fuelling the sales of adventure and touring motorcycles.

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