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The automotive electronics market forecast was estimated to be worth US$ 300.3 billion in 2022, and it is anticipated to develop at a CAGR of 7.30% from 2022 to 2032, reaching US$ 607.5 billion in 2032. The advancement of sensor technology and signal processing algorithms are fueled by the increasingly strict safety regulations, which are a significant factor in the growth of automotive electronics.

The demand for automotive electronics is expected to grow in the future, driven by the increasing adoption of advanced safety, comfort, and infotainment features in vehicles.

Automotive electronics refers to the use of electronic systems and devices in automobiles, including safety features such as anti-lock braking systems, electronic stability control, and advanced driver assistance systems, as well as infotainment features such as multimedia systems and navigation.

The growth in the demand for automotive electronics is expected to be driven by the increasing adoption of advanced safety features in vehicles, particularly in developed markets such as the US, Europe, and Japan, where stringent safety regulations have been implemented.

In addition, the trend towards connected and autonomous vehicles, which require a range of advanced electronic systems to function, is expected to further drive the demand for automotive electronics. This includes technologies such as radar and LiDAR sensors, vehicle-to-vehicle communication systems, and advanced driver assistance systems.

Key Takeaways:

The largest automotive electronics market share is in Europe. From 2022 to 2032, the region is anticipated to grow at a rate of over 27.0%.
Automotive Electronics are anticipated to experience significant growth opportunities in North America, where they are projected to account for 12.0% of global sales by 2022.
With promising opportunities for automotive electronics market expansion, Asia-Pacific is anticipated to expand and reach a sizeable share of 10.4% in 2022.
MEA is anticipated to offer significant automotive electronics market growth opportunities and is projected to hold a 4.8% share in 2022.
From 2021 to 2028, the ADAS automotive electronics market is anticipated to grow at a CAGR of more than 10.6%.
In 2020, the safety systems market segment held the largest automotive electronics market share, at about 29%.
For more information: https://www.futuremarketinsigh....ts.com/reports/autom

Competitive Landscape:

Among the leading companies operating in the automotive electronics market are:

Hitachi Automotive Systems, Ltd., Visteon Corporation, Hella GmbH& Co. KGaA, Infineon Technologies AG, Robert Bosch GmbH, Valeo Inc., ZF Friedrichshafen AG, Continental AG, DENSO Corporation, and Xilinx, Inc.

The automotive electronics market is extremely competitive, which can be attributed to the large number of participants. A number of regional level players are also active across key growth regions, particularly in Europe. Global players, such as Continental AG, DENSO Corporation, Hella GmbH& Co. KGaA, and Infineon Technologies AG, account for a sizeable portion of the automotive electronics market.

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The global acetaldehyde market size was valued at USD 1.53 billion in 2021. The market is projected to grow from USD 1.58 billion in 2022 to USD 1.98 billion by 2029, exhibiting a CAGR of 3.3% during the forecast period.

This information is presented by Fortune Business Insights, in its report titled, “Acetaldehyde Market, 2022-2029.”

Information Source- https://www.fortunebusinessins....ights.com/acetaldehy

Segments:

Surging Demand for Basic Dyes and Polymer Resins to Promote Market Augmentation

As per application, the market is divided into chemical synthesis, food & beverages, pharmaceuticals & cosmetics, paints & coatings, and others. Chemical synthesis segment captured 52.9% of the market share in 2021 owing to rising demand for basic dyes and polymer resins in end-use industries. This will contribute to the rising demand for derivatives in the coming years.

Regionally, the global market is fragmented into North America, Europe, Asia Pacific, and Rest of the World.

Report Coverage:

The report examines the market systematically and thoroughly by dividing it into segments and regions. Growth rate estimates, market share held, and revenue predictions for each segment and region are also given. A deep-dive analysis of leading companies in the domain and strategic moves undertaken by them to maximize sales and profits generated is given in the document. A comprehensive COVID-19 impacts section is included to inform investors about the after-effects of the pandemic on the market.

Drivers and Restraints:

Expanding Pharmaceutical and Chemical Industry to Generate Product Demand

Acetaldehyde, also known as ethanal, is used as a raw material in the production of various pharmaceutical products and chemicals. It is widely used to manufacture pentaerythritol and peracetiac acid. These chemicals find a wide range of applications in chemicals and pharmaceuticals industries. The expansion of chemical and pharmaceutical industries will thus aid the global acetaldehyde market growth.

On the other hand, increasing concerns regarding toxic effects of ethanal such as irritation, headaches, and dizziness have prompted governments to regulate the usage of such chemicals. This will act as a challenge for businesses operating in this domain.

Regional Insights:

Asia Pacific to Lead Backed by Surging Demand for Chemicals and Food & Beverages

Asia Pacific captured the largest global acetaldehyde market share in 2021 owing to growth of leading consumer industries. The food & beverage and chemical industries have grown rapidly in recent years due to the availability of raw materials. This, in turn, will boost the demand for ethanal and contribute to market expansion.

Meanwhile, Europe is slated to record significant expansion in the coming years due to surging product demand from cosmetics and pharmaceuticals industries. Surging demand for derivatives such as pyridine bases, pyridine, ethyl acetate, and acetic acid from pharmaceuticals & paints & coatings sectors will facilitate market escalation in this region.

The Latin America market is propelled by easy availability of alternative raw materials such as bioethanol. Bioethanol is used in the production of acetaldehyde and is available in corn and sugarcane, which are grown in significant quantities in Mexico and Brazil.

Competitive Landscape:

Key Players Announce Acquisitions to Increase Net Sales

Leading companies use several tactics to strengthen their foothold in the market. One such move is acquiring other prominent players in the domain to expand their reach, increase product sales, and improve brand value. Launching new products to meet consumer requirements is another essential strategy to generate massive revenues.

Key Industry Development:

July 2022: Sumitomo Chemical Co., Ltd. announced its decision to acquire Nativa through its subsidiary Agro Amazonia Produtos Agropecuários S.A. This move will expand its geographical footprint in Brazil and help the company in achieving growth in net sales.

List of Key Players Mentioned in the Report:

Solvay SA (Belgium)
Eastman Chemical Company (U.S.)
Jubilant Life Sciences (India)
Sumitomo Chemical Co. Ltd. (Japan)
Arkema (France)
Honeywell International (U.S.)
Laxmi Organic Industries Ltd. (India)
SHOWA DENKO K.K. (Japan)
Wacker Chemie AG (Germany)
Celanese Corporation (U.S.)

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