Nanomagnetics Market Forecast to Reach $8.0 Billion by 2025 Biotechnology, Data Storage, and Retrieval, Development of Efficient and Advanced Technology, Growing Demand for Nanomagnetic Devices are the Prime Growth Drivers of Nanomagnetics Market
Nanomagnetics Market
BriefingWire.com, 4/29/2021 - Click Here Nanomagnetics market is forecast to reach $8.0 billion by 2025, after growing at a CAGR of 3.9% during 2020-2025, owing to the increasing demand for nanomagnetic from various end-use industries such as electronics, medical, and automotive as it is one of the most effective methods to make materials stronger, lighter, durable, and reactive. Globally, biotechnology, data storage, and retrieval, development of efficient and advanced technology, growing demand for nanomagnetic devices are the prime growth drivers of the global nanomagnetics market. Furthermore, increasing government initiative across the globe, and growing demand for minimally inva
Polyester Staple Fiber Market Drivers
Increasing Automotive Production
Textile materials such as polyester staple fiber are extensively used in automobiles in the production of automobile carpets, seating fabrics, side, roof, floor, and door panels, safety belts, tires, airbags, air filters, fuel filters, insulation materials, and more. China is the world’s largest vehicle market, according to the International Trade Administration (ITA), and the Chinese government expects the production of automobiles to reach 35 million by 2025. According to OICA, the production of passenger cars in Africa was 776,967 in 2018, which then increased to 787,287 in 2019, a total increase of 1.3%. According to OICA, the production of light commercial vehicles has increased from 1,348,932 in 2018 to 1,431,904 in 2019, an increase of 6.2% in Canada. Thus, increasing automation production will require more polyester staple fiber for manufacturing various automotive components, which will act as a drive