Future Prospects of Global Laboratory Proficiency Testing Market

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Laboratory Proficiency Testing Market  The global Laboratory Proficiency Testing Market is estimated to be valued at US$ 1.29 billion in 2023 and is expected to exhibit a CAGR of 7.3% over the forecast period 2023 - 2030, as highlighted in a new report published by Coherent Market Insights. Market Overview: Laboratory proficiency testing involves evaluating the performance of laboratories for a given scope of testing through inter-laboratory comparisons. It helps assess the quality and competence of laboratories by determining reproducibility and accuracy of test results. Proficiency testing products are used by laboratories to determine method validity and accuracy, and improve testing processes. Market Key Trends: One of the major trends in the laboratory proficiency testing market is the growing number of accredited medical laboratories. Accreditation assures compliance with ISO 15189 and ISO/IEC 17025 standards, which require participation in proficiency testing programs. Accordi
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Unsaturated Polyester Resins Market Size, Share, Outlook, and Opportunity Analysis, 2021 - 2028

 

Unsaturated Polyester Resins Market
Unsaturated Polyester Resins Market

Increasing demand for UPR as a cost-effective and easy-to-design and-fabricate alternative to metals like aluminium and steel is expected to drive market expansion over the forecast period. The UPR is widely utilised in a variety of industries to improve composites' thermal, flexural, and mechanical properties. The composites end-product market is predicted to exceed USD 113.2 billion by 2022, according to the American Composites Manufacturers Association. In the long run, rising demand for composite materials in the automotive and construction industries is expected to boost unsaturated polyester resin market growth.

Product growth could be aided by rising demand for fiber-reinforced plastic (FRP) in the transportation, construction, and marine industries. The unsaturated polyester resin market is expected to grow due to rising demand for nonreinforced cross-linked UPR for automotive repair putty, gel coatings, and bowling balls. However, raw material price fluctuation has an impact on the cost of the end product, which is expected to slow the market's revenue growth. Furthermore, these polymers' low recycling properties are predicted to limit their use in automotive applications.

Because of rising demand in building and construction applications, global orthophthalic product segment demand is estimated to approach USD 4 billion by 2022. Automotive components, boat hulls and decks, wind blades, laminating resins, and FRP structures all use these resins. Over the next few years, growing demand for orthophthalic resin in the moulding material, marine, energy, electronics, building & construction, and automotive sectors may help the market grow. The advantages of orthophthalic resins over their equivalents in terms of chemical resistance, cost, and toughness are expected to boost the growth of the unsaturated polyester resin market.

During the forecasted timeframe, the isophthalic segment is expected to grow at a pace of over 6%. Because of its chemical resistance, flexibility, and tensile strength capabilities, it is utilised in the production of fibreglass reinforced plastics, which is a crucial reason fueling the industry's growth. Increased demand for isophthalic resins in marine applications, due to their water resistance, may boost demand for unsaturated polyester resins.

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