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Global Glued Laminated Timber (Glulam) Market Size, Industry Analysis By Segmentations, Top Key Players, Trends, Future Development & Forecast 2024-2035

  • PUBLISHED ON
  • 2/24/2023
  • NO OF PAGES
  • 255
  • CATEGORY
  • Chemicals & Materials
Glued Laminated Timber (Glulam) market report presents a global overview of market shares, size, statistics, trends, demand, revenue and growth opportunities by key players, regions and countries. This report offers a complete market overview during the past, present, and the forecast period till 2032 which helps to identify future opportunities, risk factors, growing areas. Report also highlight on recent developments, technological innovations, market affecting factors, demographics analysis, demand and supply chain which gives brief strategy of market growth during the forecast period. It also gives in-depth insights on SWOT and PESTLE analysis based on industry segmentations and regional developments.

Market Overview:
The report provides a basic overview of the industry including definitions, classifications, and industry chain structure. The Glued Laminated Timber (Glulam) market analysis is provided for the international markets including development trends, competitive landscape analysis, and key regions development status. Development policies and plans are discussed as well as manufacturing processes and cost structures are also analyzed. This report also states import/export consumption, supply and demand, price, revenue and gross margins.

Report Scope:
The primary and secondary research is done in order to access up-to-date government regulations, market information and industry data. Data were collected from the Glued Laminated Timber (Glulam) manufacturers, distributors, end users, industry associations, governments’ industry bureaus, industry publications, industry experts, third party database, and our in-house databases. The report combines extensive quantitative analysis and exhaustive qualitative analysis, ranges from a macro overview of the total market size, industry chain, and market dynamics to micro details of segment by type, application and region and as a result provides a holistic view of as well as a deep insight into the Glued Laminated Timber (Glulam) market covering all its essential aspects.

Global Glued Laminated Timber (Glulam) Market: Segmentations



Global Glued Laminated Timber (Glulam) Market: Major Players
GLULAM
Meiken Lamwood Corp
Calvert Company Inc.
B and K Structures
Swedish Wood
Buckland Timber
Setra Group AB
Canfor Corporation
Schilliger Holz AG
HESS TIMBER
Mayr-Melnhof Holz Holding AG
Structurlam
Boise Cascade Co.
CWC
Pfeifer Holz GmbH
Eugen Decker Holzindustrie KG
Binderholz GmbH

Global Glued Laminated Timber (Glulam) Market: By Types
Modified Melamine-resin Type
Phenol Resorcinal-resin Type
Polyurethane Type

Global Glued Laminated Timber (Glulam) Market: By Applications
Commercial
Residential
Others



Global Glued Laminated Timber (Glulam) Market: Regional Analysis
The countries covered in the regional analysis of the Global Glued Laminated Timber (Glulam) market report are U.S., Canada, and Mexico in North America, Germany, France, U.K., Russia, Italy, Spain, Turkey, Netherlands, Switzerland, Belgium, and Rest of Europe in Europe, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, China, Japan, India, South Korea, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), and Argentina, Brazil, and Rest of South America as part of South America.

Key Benefits:
• The analysis provides an overview of the factors driving and limiting the growth of the market including trends, structure and others.
• Market estimation for type and geographic segments is derived from the current market scenario and expected market trends.
• Porter’s Five Force Model and SWOT analysis are used to study the global Glued Laminated Timber (Glulam) market and would help stakeholders make strategic decisions.
• The analysis assists in understanding the strategies adopted by the companies for the growth of this market.
• In-depth analysis of the types of Glued Laminated Timber (Glulam) would help in identifying future applications in this market.

Reasons to Purchase this Report:
• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
• Provision of market value (USD Billion) data for each segment and sub-segment
• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled
• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players
• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis
• Provides insight into the market through Value Chain
• Market dynamics scenario, along with growth opportunities of the market in the years to come
• 6-month post-sales analyst support

Objectives of the Study:
• To provide with an exhaustive analysis on the Glued Laminated Timber (Glulam) Market by Product, By Application, By End User and by Region.
• To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
• To evaluate and forecast micro-markets and the overall market
• To predict the market size, in key regions— North America, Europe, Asia Pacific, Latin America and Middle East and Africa.
• To record and evaluate competitive landscape mapping- product launches, technological advancements, mergers and expansions
Base Year: 2023
Historic Year: 2016-2022
Forecast: 2024-2035


1 Glued Laminated Timber (Glulam) Introduction and Market Overview
1.1 Objectives of the Study
1.2 Overview of Glued Laminated Timber (Glulam)
1.3 Glued Laminated Timber (Glulam) Market Scope and Market Size Estimation
1.3.1 Market Concentration Ratio and Market Maturity Analysis
1.3.2 Global Glued Laminated Timber (Glulam) Revenue and Growth Rate from 2016-2026
1.4 Market Segmentation
1.4.1 Types of Glued Laminated Timber (Glulam)
1.4.2 Applications of Glued Laminated Timber (Glulam)
1.4.3 Research Regions
1.5 Market Dynamics
1.5.1 Glued Laminated Timber (Glulam) Industry Trends
1.5.2 Glued Laminated Timber (Glulam) Drivers
1.5.3 Glued Laminated Timber (Glulam) Market Challenges
1.5.4 Glued Laminated Timber (Glulam) Market Restraints
1.6 Industry News and Policies by Regions
1.6.1 Industry News
1.6.2 Industry Policies
1.7 Mergers & Acquisitions, Expansion Plans
1.8 Glued Laminated Timber (Glulam) Industry Development Trends under COVID-19 Outbreak
1.8.1 Global COVID-19 Status Overview
1.8.2 Influence of COVID-19 Outbreak on Glued Laminated Timber (Glulam) Industry Development

2 Industry Chain Analysis
2.1 Upstream Raw Material Supply and Demand Analysis
2.1.1 Global Glued Laminated Timber (Glulam) Major Upstream Raw Material and Suppliers
2.1.2 Raw Material Source Analysis
2.2 Major Players of Glued Laminated Timber (Glulam)
2.2.1 Major Players Manufacturing Base of Glued Laminated Timber (Glulam) in 2020
2.2.2 Major Players Market Distribution in 2020
2.3 Glued Laminated Timber (Glulam) Manufacturing Cost Structure Analysis
2.3.1 Production Process Analysis
2.3.2 Manufacturing Cost Structure of Glued Laminated Timber (Glulam)
2.3.3 Labor Cost of Glued Laminated Timber (Glulam)
2.4 Market Channel Analysis of Glued Laminated Timber (Glulam)
2.5 Major Down Stream Customers by Application

3 Global Glued Laminated Timber (Glulam) Market, by Type
3.1 Global Glued Laminated Timber (Glulam) Revenue and Market Share by Type (2016-2021)
3.2 Global Glued Laminated Timber (Glulam) Production and Market Share by Type (2016-2021)
3.3 Global Glued Laminated Timber (Glulam) Revenue and Growth Rate by Type (2016-2021)
3.3.1 Global Glued Laminated Timber (Glulam) Revenue and Growth Rate of Modified Melamine-resin Type
3.3.2 Global Glued Laminated Timber (Glulam) Revenue and Growth Rate of Phenol Resorcinal-resin Type
3.3.3 Global Glued Laminated Timber (Glulam) Revenue and Growth Rate of Polyurethane Type
3.4 Global Glued Laminated Timber (Glulam) Price Analysis by Type (2016-2021)
3.4.1 Explanation of Different Type Product Price Trends

4 Glued Laminated Timber (Glulam) Market, by Application
4.1 Downstream Market Overview
4.2 Global Glued Laminated Timber (Glulam) Consumption and Market Share by Application (2016-2021)
4.3 Global Glued Laminated Timber (Glulam) Consumption and Growth Rate by Application (2016-2021)
4.3.1 Global Glued Laminated Timber (Glulam) Consumption and Growth Rate of Commercial (2016-2021)
4.3.2 Global Glued Laminated Timber (Glulam) Consumption and Growth Rate of Residential (2016-2021)
4.3.3 Global Glued Laminated Timber (Glulam) Consumption and Growth Rate of Others (2016-2021)

5 Global Glued Laminated Timber (Glulam) Consumption, Revenue ($) by Region (2016-2021)
5.1 Global Glued Laminated Timber (Glulam) Revenue and Market Share by Region (2016-2021)
5.2 Global Glued Laminated Timber (Glulam) Consumption and Market Share by Region (2016-2021)
5.3 Global Glued Laminated Timber (Glulam) Consumption, Revenue, Price and Gross Margin (2016-2021)
5.4 North America Glued Laminated Timber (Glulam) Consumption, Revenue, Price and Gross Margin (2016-2021)
5.4.1 North America Glued Laminated Timber (Glulam) Market Under COVID-19
5.4.2 North America Glued Laminated Timber (Glulam) SWOT Analysis
5.5 Europe Glued Laminated Timber (Glulam) Consumption, Revenue, Price and Gross Margin (2016-2021)
5.5.1 Europe Glued Laminated Timber (Glulam) Market Under COVID-19
5.5.2 Europe Glued Laminated Timber (Glulam) SWOT Analysis
5.6 China Glued Laminated Timber (Glulam) Consumption, Revenue, Price and Gross Margin (2016-2021)
5.6.1 China Glued Laminated Timber (Glulam) Market Under COVID-19
5.6.2 China Glued Laminated Timber (Glulam) SWOT Analysis
5.7 Japan Glued Laminated Timber (Glulam) Consumption, Revenue, Price and Gross Margin (2016-2021)
5.7.1 Japan Glued Laminated Timber (Glulam) Market Under COVID-19
5.7.2 Japan Glued Laminated Timber (Glulam) SWOT Analysis
5.8 Middle East and Africa Glued Laminated Timber (Glulam) Consumption, Revenue, Price and Gross Margin (2016-2021)
5.8.1 Middle East and Africa Glued Laminated Timber (Glulam) Market Under COVID-19
5.8.2 Middle East and Africa Glued Laminated Timber (Glulam) SWOT Analysis
5.9 India Glued Laminated Timber (Glulam) Consumption, Revenue, Price and Gross Margin (2016-2021)
5.9.1 India Glued Laminated Timber (Glulam) Market Under COVID-19
5.9.2 India Glued Laminated Timber (Glulam) SWOT Analysis
5.10 South America Glued Laminated Timber (Glulam) Consumption, Revenue, Price and Gross Margin (2016-2021)
5.10.1 South America Glued Laminated Timber (Glulam) Market Under COVID-19
5.10.2 South America Glued Laminated Timber (Glulam) SWOT Analysis
5.11 South Korea Glued Laminated Timber (Glulam) Consumption, Revenue, Price and Gross Margin (2016-2021)
5.11.1 South Korea Glued Laminated Timber (Glulam) Market Under COVID-19
5.11.2 South Korea Glued Laminated Timber (Glulam) SWOT Analysis
5.12 Southeast Asia Glued Laminated Timber (Glulam) Consumption, Revenue, Price and Gross Margin (2016-2021)
5.12.1 Southeast Asia Glued Laminated Timber (Glulam) Market Under COVID-19
5.12.2 Southeast Asia Glued Laminated Timber (Glulam) SWOT Analysis

6 Global Glued Laminated Timber (Glulam) Production by Top Regions (2016-2021)
6.1 Global Glued Laminated Timber (Glulam) Production by Top Regions (2016-2021)
6.2 North America Glued Laminated Timber (Glulam) Production and Growth Rate
6.3 Europe Glued Laminated Timber (Glulam) Production and Growth Rate
6.4 China Glued Laminated Timber (Glulam) Production and Growth Rate
6.5 Japan Glued Laminated Timber (Glulam) Production and Growth Rate
6.6 India Glued Laminated Timber (Glulam) Production and Growth Rate

7 Global Glued Laminated Timber (Glulam) Consumption by Regions (2016-2021)
7.1 Global Glued Laminated Timber (Glulam) Consumption by Regions (2016-2021)
7.2 North America Glued Laminated Timber (Glulam) Consumption and Growth Rate
7.3 Europe Glued Laminated Timber (Glulam) Consumption and Growth Rate
7.4 China Glued Laminated Timber (Glulam) Consumption and Growth Rate
7.5 Japan Glued Laminated Timber (Glulam) Consumption and Growth Rate
7.6 Middle East & Africa Glued Laminated Timber (Glulam) Consumption and Growth Rate
7.7 India Glued Laminated Timber (Glulam) Consumption and Growth Rate
7.8 South America Glued Laminated Timber (Glulam) Consumption and Growth Rate
7.9 South Korea Glued Laminated Timber (Glulam) Consumption and Growth Rate
7.10 Southeast Asia Glued Laminated Timber (Glulam) Consumption and Growth Rate

8 Competitive Landscape
8.1 Competitive Profile
8.2 GLULAM Market Performance Analysis
8.2.1 Company Profiles
8.2.2 Glued Laminated Timber (Glulam) Product Profiles, Application and Specification
8.2.3 GLULAM Sales, Revenue, Price, Gross Margin 2016-2021
8.2.4 Company Recent Development
8.2.5 Strategies for Company to Deal with the Impact of COVID-19
8.3 Meiken Lamwood Corp Market Performance Analysis
8.3.1 Company Profiles
8.3.2 Glued Laminated Timber (Glulam) Product Profiles, Application and Specification
8.3.3 Meiken Lamwood Corp Sales, Revenue, Price, Gross Margin 2016-2021
8.3.4 Company Recent Development
8.3.5 Strategies for Company to Deal with the Impact of COVID-19
8.4 Calvert Company Inc. Market Performance Analysis
8.4.1 Company Profiles
8.4.2 Glued Laminated Timber (Glulam) Product Profiles, Application and Specification
8.4.3 Calvert Company Inc. Sales, Revenue, Price, Gross Margin 2016-2021
8.4.4 Company Recent Development
8.4.5 Strategies for Company to Deal with the Impact of COVID-19
8.5 B and K Structures Market Performance Analysis
8.5.1 Company Profiles
8.5.2 Glued Laminated Timber (Glulam) Product Profiles, Application and Specification
8.5.3 B and K Structures Sales, Revenue, Price, Gross Margin 2016-2021
8.5.4 Company Recent Development
8.5.5 Strategies for Company to Deal with the Impact of COVID-19
8.6 Swedish Wood Market Performance Analysis
8.6.1 Company Profiles
8.6.2 Glued Laminated Timber (Glulam) Product Profiles, Application and Specification
8.6.3 Swedish Wood Sales, Revenue, Price, Gross Margin 2016-2021
8.6.4 Company Recent Development
8.6.5 Strategies for Company to Deal with the Impact of COVID-19
8.7 Buckland Timber Market Performance Analysis
8.7.1 Company Profiles
8.7.2 Glued Laminated Timber (Glulam) Product Profiles, Application and Specification
8.7.3 Buckland Timber Sales, Revenue, Price, Gross Margin 2016-2021
8.7.4 Company Recent Development
8.7.5 Strategies for Company to Deal with the Impact of COVID-19
8.8 Setra Group AB Market Performance Analysis
8.8.1 Company Profiles
8.8.2 Glued Laminated Timber (Glulam) Product Profiles, Application and Specification
8.8.3 Setra Group AB Sales, Revenue, Price, Gross Margin 2016-2021
8.8.4 Company Recent Development
8.8.5 Strategies for Company to Deal with the Impact of COVID-19
8.9 Canfor Corporation Market Performance Analysis
8.9.1 Company Profiles
8.9.2 Glued Laminated Timber (Glulam) Product Profiles, Application and Specification
8.9.3 Canfor Corporation Sales, Revenue, Price, Gross Margin 2016-2021
8.9.4 Company Recent Development
8.9.5 Strategies for Company to Deal with the Impact of COVID-19
8.10 Schilliger Holz AG Market Performance Analysis
8.10.1 Company Profiles
8.10.2 Glued Laminated Timber (Glulam) Product Profiles, Application and Specification
8.10.3 Schilliger Holz AG Sales, Revenue, Price, Gross Margin 2016-2021
8.10.4 Company Recent Development
8.10.5 Strategies for Company to Deal with the Impact of COVID-19
8.11 HESS TIMBER Market Performance Analysis
8.11.1 Company Profiles
8.11.2 Glued Laminated Timber (Glulam) Product Profiles, Application and Specification
8.11.3 HESS TIMBER Sales, Revenue, Price, Gross Margin 2016-2021
8.11.4 Company Recent Development
8.11.5 Strategies for Company to Deal with the Impact of COVID-19
8.12 Mayr-Melnhof Holz Holding AG Market Performance Analysis
8.12.1 Company Profiles
8.12.2 Glued Laminated Timber (Glulam) Product Profiles, Application and Specification
8.12.3 Mayr-Melnhof Holz Holding AG Sales, Revenue, Price, Gross Margin 2016-2021
8.12.4 Company Recent Development
8.12.5 Strategies for Company to Deal with the Impact of COVID-19
8.13 Structurlam Market Performance Analysis
8.13.1 Company Profiles
8.13.2 Glued Laminated Timber (Glulam) Product Profiles, Application and Specification
8.13.3 Structurlam Sales, Revenue, Price, Gross Margin 2016-2021
8.13.4 Company Recent Development
8.13.5 Strategies for Company to Deal with the Impact of COVID-19
8.14 Boise Cascade Co. Market Performance Analysis
8.14.1 Company Profiles
8.14.2 Glued Laminated Timber (Glulam) Product Profiles, Application and Specification
8.14.3 Boise Cascade Co. Sales, Revenue, Price, Gross Margin 2016-2021
8.14.4 Company Recent Development
8.14.5 Strategies for Company to Deal with the Impact of COVID-19
8.15 CWC Market Performance Analysis
8.15.1 Company Profiles
8.15.2 Glued Laminated Timber (Glulam) Product Profiles, Application and Specification
8.15.3 CWC Sales, Revenue, Price, Gross Margin 2016-2021
8.15.4 Company Recent Development
8.15.5 Strategies for Company to Deal with the Impact of COVID-19
8.16 Pfeifer Holz GmbH Market Performance Analysis
8.16.1 Company Profiles
8.16.2 Glued Laminated Timber (Glulam) Product Profiles, Application and Specification
8.16.3 Pfeifer Holz GmbH Sales, Revenue, Price, Gross Margin 2016-2021
8.16.4 Company Recent Development
8.16.5 Strategies for Company to Deal with the Impact of COVID-19
8.17 Eugen Decker Holzindustrie KG Market Performance Analysis
8.17.1 Company Profiles
8.17.2 Glued Laminated Timber (Glulam) Product Profiles, Application and Specification
8.17.3 Eugen Decker Holzindustrie KG Sales, Revenue, Price, Gross Margin 2016-2021
8.17.4 Company Recent Development
8.17.5 Strategies for Company to Deal with the Impact of COVID-19
8.18 Binderholz GmbH Market Performance Analysis
8.18.1 Company Profiles
8.18.2 Glued Laminated Timber (Glulam) Product Profiles, Application and Specification
8.18.3 Binderholz GmbH Sales, Revenue, Price, Gross Margin 2016-2021
8.18.4 Company Recent Development
8.18.5 Strategies for Company to Deal with the Impact of COVID-19

9 Global Glued Laminated Timber (Glulam) Market Analysis and Forecast by Type and Application
9.1 Global Glued Laminated Timber (Glulam) Market Revenue & Volume Forecast, by Type (2021-2026)
9.1.1 Modified Melamine-resin Type Market Revenue and Volume Forecast (2021-2026)
9.1.2 Phenol Resorcinal-resin Type Market Revenue and Volume Forecast (2021-2026)
9.1.3 Polyurethane Type Market Revenue and Volume Forecast (2021-2026)
9.2 Global Glued Laminated Timber (Glulam) Market Revenue & Volume Forecast, by Application (2021-2026)
9.2.1 Commercial Market Revenue and Volume Forecast (2021-2026)
9.2.2 Residential Market Revenue and Volume Forecast (2021-2026)
9.2.3 Others Market Revenue and Volume Forecast (2021-2026)

10 Glued Laminated Timber (Glulam) Market Supply and Demand Forecast by Region
10.1 North America Market Supply and Demand Forecast (2021-2026)
10.2 Europe Market Supply and Demand Forecast (2021-2026)
10.3 China Market Supply and Demand Forecast (2021-2026)
10.4 Japan Market Supply and Demand Forecast (2021-2026)
10.5 Middle East and Africa Market Supply and Demand Forecast (2021-2026)
10.6 India Market Supply and Demand Forecast (2021-2026)
10.7 South America Market Supply and Demand Forecast (2021-2026)
10.8 South Korea Market Supply and Demand Forecast (2021-2026)
10.9 Southeast Asia Market Supply and Demand Forecast (2021-2026)
10.10 Explanation of Market Size Trends by Region
10.11 Glued Laminated Timber (Glulam) Market Trends Analysis

11 New Project Feasibility Analysis
11.1 Industry Barriers and New Entrants SWOT Analysis
11.2 Analysis and Suggestions on New Project Investment

12 Expert Interview Record
13 Research Finding and Conclusion
14 Appendix
14.1 Methodology
14.2 Research Data Source

Quality Assurance Process

  1. We Market Research’s Quality Assurance program strives to deliver superior value to our clients.

We Market Research senior executive is assigned to each consulting engagement and works closely with the project team to deliver as per the clients expectations.

Market Research Process




We Market Research monitors 3 important attributes during the QA process- Cost, Schedule & Quality. We believe them as a critical benchmark in achieving a project’s success.

To mitigate risks that can impact project success, we deploy the follow project delivery best practices:
  • Project kickoff meeting with client
  • Conduct frequent client communications
  • Form project steering committee
  • Assign a senior SR executive as QA Executive
  • Conduct internal editorial & quality reviews of project deliverables
  • Certify project staff in SR methodologies & standards
  • Monitor client satisfaction
  • Monitor realized value post-project

Case Study- Automotive Sector

One of the key manufacturers of automotive had plans to invest in electric utility vehicles. The electric cars and associated markets being a of evolving nature, the automotive client approached Straits Research for a detailed insight on the market forecasts. The client specifically asked for competitive analysis, regulatory framework, regional prospects studied under the influence of drivers, challenges, opportunities, and pricing in terms of revenue and sales (million units).

Solution

The overall study was executed in three stages, intending to help the client meet its objective of precisely understanding the entire market before deciding on an investment. At first, secondary research was conducted considering political, economic, social, and technological parameters to get a gist of the various aspects of the market. This stage of the study concluded with the derivation of drivers, opportunities, and challenges. It also laid substantial emphasis on understanding and collecting data not only on a global scale but also on the regional and country levels. Data Extraction through Primary Research

The second stage involved primary research in which several market players and automotive parts suppliers were contacted to study their viewpoint concerning the development of their market and production capacity, clientele, and product line. This stage concluded in a brief understanding of the competitive ecosystem and also glanced through the strategies and pricing of the companies profiled.

Market Estimates and Forecast

In the final stage of the study, market forecasts for the electric utility were derived using multiple market engineering approaches. This data helped the client to get an overview of the market and accelerate the process of investment.

Case Study- ICT Sector

Business process outsourcing, being one of the lucrative markets from both supply- and demand- side, has appealed to various companies. One of the prominent corporations based out of Japan approached us with their requirements regarding the scope of the procurement outsourcing market for around 50 countries. Additionally, the client also sought key players operating in the market and their revenue breakdown in terms of region and application.


Business Solution

An exhaustive market study was conducted based on primary and secondary research that involved factors such as labor costs in various countries, skilled and technical labors, manufacturing scenario, and their respective contributions in the global GDP. A comparative study of the market was conducted from both supply- and demand side, with the supply-side comprising of notable companies, such as GEP, Accenture, and others, that provide these services. On the other hand, large manufacturing companies from them demand-side were considered that opt for these services.


Conclusion

The report aided the client in understanding the market trends, including country-level business scenarios, consumer behavior, and trends in 50 countries. The report also provided financial insights of crucial players and detailed market estimations and forecasts till 2028.

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