Latest News- Matches Market: Ordinary matches is expected to lead the Type segment during 2024-2028
The Matches Market is being driven by Matches are recognized as safe for use
The Matches Market is expected to grow at a CAGR of 1% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 10 million. The global matches market is witnessing a significant shift towards eco-friendly and sustainable matchstick production. With increasing environmental consciousness, both consumers and manufacturers are prioritizing sustainability. Traditional matches, often made from wood, sulfur, and chemical coatings, have raised concerns due to their environmental impact. In response, companies are exploring alternative materials such as bamboo, recycled paper, and plant-based components to reduce the carbon footprint of matchstick production. Additionally, eco-friendly packaging is gaining popularity, with brands opting for biodegradable or recyclable materials to replace plastic or non-recyclable packaging. This trend aligns with growing consumer demand for products that are not only environmentally responsible but also safe for the ecosystem.
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Which Factors Are Causing a Surge in Market Growth?
The market is segmented based on Type (Ordinary matches, High-grade, Others) Geography (North America, Europe, APAC, Middle East and Africa, South America).
According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows:
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Key Features in Matches Market Research Report
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Matches serve various purposes from fire-starting for human survival and cooking, to heating, lighting industrial processes, and holding cultural and religious significance during celebrations like Diwali. Eco-conscious options include eco-friendly matches made from sustainably sourced wood, non-toxic materials, and biodegradable components. These include bamboo matches, recycled paper, and smart manufacturing techniques. Campers and emergency kit essentials rely on safety matches, strike-anywhere matches, and ignition devices like lighters. Wooden matches, chemical-free alternatives, and lighting fixtures complete the match market landscape.
The global commodity chemicals market encompasses businesses specializing in the production of industrial and fundamental chemicals, encompassing sectors such as plastics, synthetic fibers, films, commodity-based paints and pigments, explosives, and petrochemicals. Notably, this market excludes chemical companies focusing on diversified chemicals, fertilizers and agricultural chemicals, industrial gases, and specialty chemicals. Key growth drivers for the commodity chemicals market include the escalating demand for plastic packaging. Given its prevalence in the global packaging industry, plastic's versatility and lightweight, corrosion-resistant properties have necessitated continuous innovation, significantly influencing the application of chemicals in the manufacturing process of plastic packaging materials.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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