The global masterbatch market is anticipated to grow at a CAGR of 6.5% during the forecast period of 2022 and 2030. The advancement of technology within the plastics industry has had a positive impact on the development of masterbatches as well as engineering plastics. As a result, vehicle designs have been modified, and conventional metal components such as fuel tanks have been replaced with engineering plastics.
The global insulin pump market will rise at a CAGR of 14% during the forecast period of 2022 to 2030. Technological advancements and a preference for insulin pumps over conventional methods are driving the market growth. Insulin pumps are convenient for people who need multiple daily insulin injections. Patients like these less-invasive technologies, thus they're widely used. The increasing older population, diabetes, and obesity are driving the market growth.
Insomnia therapeutics market was valued $4.5 billion in 2020 and is predicted to expand a a CAGR of 6.2% during the forecast period of 2022 to 2030.Insomnia is a condition that impacts approximately 3% of the population and can be brought on by taking prescribed medications, abusing substances, having a medical disorder, or having a mental health condition.
The global pivot electrodeposited copper foil market is estimated to expand at a CAGR of 12% during the forecast period of 2022 to 2030. The copper foil has consumer and industrial applications. Copper conducts electricity well and is malleable and ductile. Copper is produced through electroplating or rolling sheets. Copper foil is used to decorate monasteries, signs, and crafts. As the metals sector grows, so does global demand for electrodeposited copper foils.
The global polyaryletherketone (PAEK) market is expected to grow at a CAGR of 6.5% during the forecast period of 2022 to 2030. PAEK is expected to develop due to its superior performance at high temperatures and friction resistance. PEEK, a polymer with a high glass transition temperature, is used more in the aerospace industry. This will boost demand. Polyetherketoneketone (PEKK) is in high demand in the medical industry for orthopaedic applications and components because of its antimicrobial properties.
The high-temperature gaskets market is expected to expand at a CAGR of 5% during the forecast period of 2022 to 2030. When two surfaces are subjected to high pressure and temperature, a high-temperature gasket is utilized to cover the gaps. Fluorosilicone, fiberglass, graphite, ceramic, silicon, and other materials are used to make these gaskets.
The boron carbide market is expected to rise at a CAGR of 5% during the forecast period of 2022 to 2030. Building nuclear reactors for sustainable energy is expected to boost sales, especially in developing economies. Organic boron carbide's hardness, chemical inertness, and high neutron cross-section absorption should propel the market.
The global battery materials market is predicted to grow at a CAGR of 16.3% during the forecast period of 2022 to 2030. Rising demand for electric vehicles (EVs), portable gadgets, electronics products, and industrial settings will drive the market for battery materials. Consumer electronics, industrial production, and transportation all offer opportunities for battery materials. Increasing demand for electric vehicles, portable gadgets, and energy storage devices is driving this market's growth.
The global automotive steering system market is estimated to grow at a CAGR of 5.5% during the forecast period of 2022 to 2030. The steering system is an essential component since it maintains vehicle control and is not interchangeable. Due to their necessity, vehicle steering systems are in high demand. Rising demand for environmentally friendly and comfortable vehicles is driving the market growth.
e automotive seat market is expected to grow by 4.5% from 2022 to 2030. Increasing demand for premium vehicles, acceptance of powered seats in mid-segment cars and SUVs, and the necessity for aftermarket seating solutions are driving the automotive seat market. Increasing vehicle production and the trend toward high-value seats with smart technology for comfort and safety are driving the market growth.