Global Market Analysis Report of Chemicals and Materials Industry

Global Plasticizers Market Set to Surpass $16,000.0 Million Value by 2024

noreply@blogger.com (Manish Baghel) — Thu, 03 Dec 2020 07:59:00 +0000

The global plasticizers market attained a value of $13,967.9 million in 2018 and is predicted to generate a revenue of $16,700.6 million by 2024. According to the forecast of P&S Intelligence, a market research firm based in India, the market would progress at a CAGR of 3.5% between 2019 and 2024. The mushrooming construction activities in several countries and the burgeoning requirement for polyvinyl chloride (PVC) in the electronics and electrical industry are the main growth drivers of the market.

The boom of the construction industry is a major factor fueling the progress of the plasticizers market across the globe. This is because a large volume of construction tools and materials are made from PVCs, that require various plasticizers such as DBP, DOTP, DINP, and DOP for softness. Moreover, PVC materials are widely used in construction activities, on account of their beneficial traits such as excellent resistance to ultraviolet (UV) light and temperature.

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Plasticizers are used as raw materials in the production of various construction materials such as tubes and pipes, building interiors, and roof and wall insulation. Additionally, these materials are used in construction materials that are used for flooring, roofing, cladding, and various other applications. Hence, with the increasing number of construction activities in several countries such as India, Brazil, and China, on account of the rising urbanization rate, the demand for plasticizers would grow enormously in the coming years.

This would, in turn, push up the sales of these materials around the world. Depending on product, the plasticizers market is classified into phthalates and non-phthalates. Between these, the phthalate category registered higher growth in the market in the past years. This was because of the extensive utilization of phthalate plasticizers in the production of several products such as plastics required in the healthcare industry, coatings, emulsifying agents, and anti-viscosity agents.

When application is taken into consideration, the plasticizers market is divided into wires & cables, flooring, roofing, and cladding, films & sheets, medical equipment, automotive parts, and toys & child care products. Out of these, the wires & cables category recorded the highest growth in the market in the years gone by. This was because of the heavy usage of wires & cables, that require flexible PVC for insulation and protection.

Globally, the plasticizers market recorded the highest growth in the Asia-Pacific (APAC) region in the past years and this trend is likely to continue in the upcoming years as well. This is credited to the ballooning construction and production activities in the manufacturing, healthcare, and chemicals industries and increasing urban infrastructural development activities in various countries such as Indonesia, China, India, and several Southeast Asian nations. Plasticizers are extensively used in all these industries for producing flexible PVC.

Hence, it is quite clear from the above paragraphs that the market would exhibit substantial advancement across the world in the years to come, mainly because of the increasing construction and infrastructural development activities in various countries around the world.

Sharp Revenue Jump Expected in Global Industrial Gases Market Between 2020 and 2030

noreply@blogger.com (Manish Baghel) — Wed, 02 Dec 2020 10:19:00 +0000

The global industrial gases market generated a revenue of $92,392.4 million in 2019 and is predicted to advance at a CAGR of 5.5% between 2020 and 2030. Furthermore, the market is predicted to attain a value of $154,079.5 million by 2030. The increasing government initiatives being launched for promoting the usage of alternate energy sources and the expansion of the healthcare industry in various countries are the main growth drivers of the market.

Industrial gases are extensively used in various industries such as petroleum, chemical, healthcare, heavy metal, electronics, and food. For example, in the food and beverage industry, carbon dioxide is heavily used to carbonate beer and soft drinks and assists in preparing decaffeinated coffee. Acetylene is usually used as an oxy-acetylene flame in metal welding and cutting applications. Furthermore, according to a National Investment Promotion & Facilitation Agency called Invest India, the sales of petrochemicals would climb in the coming years.

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The agency also estimates that the demand for polymer would grow sharply over the next few years. As hydrogen is extensively used in various chemical production and petroleum refining processes, the increasing number of chemical processes would push up the requirement for hydrogen gas in future. Besides this, the rising concerns being raised in several countries over the emissions released from fossil fuel usage are also driving the advancement of the industrial gases market across the globe.

These toxic emissions are one of the major factors responsible for global warming and as a result, many governments are increasingly implementing policies for promoting the usage of renewable energy in place of the conventionally used fossil fuels. According to the 2015 data of the World Bank, nations such as the U.K., India, China, Chile, Japan, and South Africa invested 0.8%, 0.5%, 0.9%, 1.4%, 0.8%, and 1.4%, respectively, of their total GDP (gross domestic product) on renewable energy.

When type is taken into consideration, the industrial gases market is divided into carbon dioxide, oxygen, hydrogen, argon, acetylene, nitrogen, and helium categories. Out of these, the hydrogen category recorded the highest growth in the market, both in terms of volume and value, in the past few years and this trend is likely to continue in the future years as well. This would be because of the heavy utilization of hydrogen in various production processes in the chemical industry.

Globally, the industrial gases market would register the highest growth in the Asia-Pacific (APAC) region in the upcoming years, as per the estimates of P&S Intelligence, a market research firm based in India. This would be a result of the flourishing manufacturing industry and the surging healthcare expenditure in various regional countries. Furthermore, the growing population in this region is boosting the demand for end-use products, which is, in turn, fueling the progress of the industry.

Hence, it can be said with full confidence that the market would demonstrate substantial growth across the world in the future years, primarily because of the rising requirement for various gases in chemical and manufacturing processes.

Why is Need for Disposable Medical Products Driving Medical Adhesives Market?

noreply@blogger.com (Manish Baghel) — Tue, 01 Dec 2020 07:39:00 +0000

The medical adhesives market is projected to attain a value of $16,367.2 million by 2030, increasing from $8,714.9 million in 2019, progressing at a 2.3% CAGR during the forecast period (2020–2030), according to a report by P&S Intelligence. The market is registering growth due to the increasing healthcare expenditure by emerging countries, enhancing per capita income, rapidly growing population, and rising products and equipment manufacturing base. On the basis of technology, the market is divided into hot melt & other solids, solvent-based, and water-based.

Among all these, the water-based division is projected to register the fastest growth during the forecast period, because of the beneficial properties of these medical adhesives, such as good breathability, provision of quick-tackiness, and good anchorage to cloth face stocks. In addition to this, factors such as high resistance to moisture and water and sustainability are projected to result in the high adoption of these medical adhesives in the years to come.

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Geographically, the medical adhesives market was dominated by North America during the historical period (2014–2019), on account of the high purchasing power, increasing product demand, and opportunity for advancement in the healthcare industry. Within the region, the U.S. held the major share of the market, due to technological advancements, increasing government support regarding free or insured healthcare policies, and increased per capita income. The Asia-Pacific region is projected to grow at the fastest pace during the forecast period.

The increasing demand for bio-adhesives in the medical sector is a key trend being witnessed in the medical adhesives market. The consumption of bio-adhesives is majorly growing for internal medical treatment, implants, and wound healing in the healthcare industry. Bio-adhesives are glue that are formed from biological monomers synthetically and are designed for adhering to biological tissues. Skin adhesives are majorly being used in the healthcare industry to replace stiches that are conventionally used for closing wounds.

Hence, the market is growing due to the rising adoption of disposable medical products and increasing consumption of bio-adhesives.

Pharmaceutical Industry To Generate Maximum Demand for Bismuth Nitrate

noreply@blogger.com (Manish Baghel) — Tue, 01 Dec 2020 06:11:00 +0000

Because of its medicinal properties, bismuth nitrate has found wide application in drug formulations to treat diseases such as cancer and duodenal diseases. Moreover, in the cosmetics industry, the compound is used for the production of lipsticks, nail paints, eye shadows, and hair sprays. The increasing awareness on the benefits of bismuth nitrate as a source of white pigment is the key reason behind its increasing consumption in the cosmetics industry.

Additionally, the rapid growth of the pharmaceutical sector in the Asia-Pacific (APAC) region and increasing usage of the compound over other bismuth derivates will drive the growth of the bismuth nitrate market at a CAGR of 5.1% during the forecast period of 2020–2030. The market was valued at $190.6 million in 2019, and its revenue is set to increase steadily till 2030. India, China, and South Korea will generate huge a demand for bismuth nitrate in the coming years.

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This can be attributed to the significant expansion of the pharmaceutical sector in these emerging economies of the APAC region. The growing pharmaceutical industry is an outcome of the increasing investments in research and development (R&D), macroeconomic growth, increasing geriatric population, increasing expenditure on healthcare, and rising number of cases of cancer, which already leads to 9.6 million deaths each year (World Health Organization estimates). The increase in the cases of cancer and growth in the elderly population have led to an increase in the demand for drugs.

The grade segment of the bismuth nitrate market is bifurcated into industrial grade and pharmaceutical grade. Of the two, the pharmaceutical grade category held the larger revenue share in the market in 2019, and it will continue to be the frontrunner during the forecast period. The growth of this bifurcation will be driven by the increasing usage of the compound in drug formulations and heavy investments in R&D to discover new applications of the salt in the medical industry.

The increasing demand for drugs will thus contribute massively to the growth of the market. Additionally, the benefits offered by bismuth nitrate make it important for the cosmetics industry, which is itself growing on account of the increasing disposable income and appearance consciousness.

Why Is Graphene Subject of Rising Research and Development Activities?

noreply@blogger.com (Manish Baghel) — Mon, 30 Nov 2020 04:17:00 +0000

Graphene, an allotrope of carbon, is the thinnest compound known to mankind. It is a monolayer of atoms of carbon that are tightly bound to each other in the form of a hexagonal honeycomb lattice. It is the lightest yet the strongest compound yet discovered. It is one of the best conductors of electricity and heat at room temperature, and it can absorb light across a wide range of the spectrum. Because of varied advantages, it can be used in ultra-wide-bandwidth photodetectors, energy storage and generation sectors, and high-frequency magnetic, bio, chemical, and electronic sensors.

Owing to the large-scale application of this carbon allotrope in the medical industry and growing demand for it from the electrical and electronics sector, the graphene market is expected to witness a 20.2% CAGR during the forecast period of 2020–2030. At this rate, the market revenue is projected to grow from $87.5 million in 2019 to $646.8 million by 2030. The medical industry uses graphene in cancer treatment, prosthetic devices, dental implants, and therapeutic tools.

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Stakeholders in the industry are investing large sums in R&D to explore the application potential of graphene in electric vehicles, enhanced batteries, medical devices, and flexible and foldable screens. For instance, the European Union (EU), under its Graphene Flagship initiative, granted $50.4 million to 11 commercialization projects in December 2019. These projects are being pursued by ABB Ltd., Siemens AG, and other leading manufacturers, who are expected to invest $52.6 million soon, to develop advanced graphene-based materials.

The Asia-Pacific (APAC) region accounted for the largest share in the global graphene market during the historical period of 2014–2019. China has emerged as the largest consumer of graphene in the worldwide energy, medical, and electrical and electronics sectors. Even during the forecast period, the consumption of the compound is set to increase in this region quickly because of its growing significance in the aerospace and automotive industry of India, South Korea, and China.

Why Will Developing Countries Drive Lubricants Market during 2020–2030

noreply@blogger.com (Manish Baghel) — Fri, 27 Nov 2020 04:55:00 +0000

The growing awareness among customers on the usage of lubricants and flourishing automotive industry in emerging economies will increase the size of the lubricants market during the forecast period of 2020–2030. The growth, which will be at a CAGR of 2.3%, will be from $95,403.9 million in 2019 to $115,350.6 million in 2030. The increasing demand for vehicles and heavy equipment from the transportation industry and construction sector, respectively, will drive the advancement of the market during the forecast period.

The demand for vehicles is increasing at an exponential rate in the developing nations of India, Mexico, Brazil, and China due to their rising per capita income. Owing to this, the demand for lubricants is also increasing, as they are applied to reduce friction in vehicles, which ensures their longevity by reducing wear and tear. Lubricants are further used in the cranckcase of a vehicle engine to ensure the efficient functioning of the vehicle; this additionally leads to a significant reduction in greenhouse gas emissions.

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Another factor that will drive the lubricants market growth during the forecast period is the surging awareness about such products. Lubricants find wide applications in various sectors, such as industrial, automotive, and construction. In addition to developed nations, customers in developing nations are also making substantial use of lubricants in vehicles, machinery, and industrial equipment. Market players are now focusing on the adoption of a customer-oriented methods to create brand awareness through print and visual media.

The highest revenue for the lubricants market was generated in the Asia-Pacific (APAC) region in 2019, and this trend is likely to be replicated during the forecast period. This growth would be due to the shift of production units to Asian countries, such as India and China, due to their low labor costs and flexible environmental rules and regulations. Due to the surge in the number of production units, lubricant producers are investing huge sums in the APAC region.

Global Low Strength Proppants Market Set to Grow Beyond $5,000.0 Million by 2030

noreply@blogger.com (Manish Baghel) — Thu, 26 Nov 2020 08:46:00 +0000

The global low strength proppants market generated a revenue of $3,713.3 million in 2019 and is predicted to progress at a CAGR of 9.8% between 2020 and 2030. According to the forecast of the market research firm, P&S Intelligence, the market would attain a value of $5,294.8 million by 2030. The rising exploration & production (E&P) activities and rapid technological advancements being made in crude oil recovery are the key factors fueling the expansion of the market across the globe.

North America has historically been one of the biggest contributors to the global oil and gas production and this trend will not change in the coming years. In this region, the U.S. alone accounts for almost 80% of all newly drilled wells. Oil and gas E&P is also gaining traction in Canada, especially with the opening up of the country’s shale reserves for commercial production and exploration. These surging E&P activities are pushing up the demand for low strength proppants.

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This is because low strength proppants are heavily used in huge amounts during the hydraulic fracturing process, on account of their ability to augment the flow of oil and gas. The other major factor propelling the advancement of the market is the rising technological advancements being made in crude oil discovery. Many major oil & gas E&P companies in the Asia-Pacific and North American regions are making huge technological investments for enhancing the E&P of new oil and gas reserves.

According to industry experts, energy production will register a huge growth in the U.S. in the near future, which will, in turn, fuel the development of improved and new technologies in order to ensure easy recovery process and high business growth for the organizations operating in the oil and gas industry. Based on end use, the low strength proppants market is categorized into crude oil, shale gas, and coal-bed methane.

Global Retail E-Commerce Packaging Market Predicted to Exhibit Revenue Explosion Between 2020 and 2030

noreply@blogger.com (Manish Baghel) — Wed, 25 Nov 2020 06:44:00 +0000

The global retail e-commerce packaging market attained a valuation of $19,022.7 million in 2019 and is predicted to generate a revenue of $68,388.1 million by 2030. According to the estimates of P&S Intelligence, a market research company based in India, the market would demonstrate a CAGR of 12.1% between 2020 and 2030. The surging population across the world and the increasing affordability of internet connections and smartphones are the prominent factors powering the advancement of the market around the world.

The soaring population levels across the world are massively pushing up the demand for both consumable and non-consumable goods. This is, in turn, boosting the progress of the market, as these goods are mainly sold via online channels. As per the findings of the United Nations Department of Economic and Social Affairs (UNDESA), the total population of the world was 7.6 billion in 2019. Moreover, the organization found that around 83 million people are added to this number every year.

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This trend is likely to continue in the coming years. This is causing the boom of the e-commerce industry, which is, in turn, propelling the sales of packaging products. The ballooning sales of these products are driving the progress of the retail e-commerce packaging industry. Based on material type, the retail e-commerce packaging market is divided into envelopes, boxes, and others, wherein the others include bubble wraps, tapes and labels, and air cushions.

Globally, the retail e-commerce packaging market registered the highest growth in the Asia-Pacific (APAC) region in the past years and this trend will continue in the future years as well. This would be due to the existence of a large population, the presence of a thriving e-commerce industry, and the growing propensity of the people in this region toward latest technologies. Moreover, according to the India Brand Equity Foundation (IBEF), India will become the second-biggest e-commerce market globally by 2034.

Global Bromine Market Size, Share, Demand, Growth and Forecast to 2030

noreply@blogger.com (Manish Baghel) — Tue, 24 Nov 2020 08:31:00 +0000

The widening application areas of bromine compounds would be significant in drafting the growth trajectory of the bromine market during the forecast period of 2020–2030. The market generated $1,864.3 million in 2019, and it is going to grow at a CAGR of 5.7% during the forecast period. The growth will be driven by the adoption of eco-friendly flame retardants, increasing applications of clear brine fluids during the drilling for gas and oil, and usage of bromine compounds to cut down mercury emissions.

Different bromine compounds are being widely used during drilling for gas and oil and production of eco-friendly polymeric retardants, which are widely used in plastic and electronics production. Furthermore, owing to the increasing production of renewable power, bromine-based storage technology grids are being widely adopted. Bromine-based technology has surfaced as an economical solution to storing clean energy, which is why the demand for the chemical continues to grow.

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The derivative segment of the bromine market is categorized into bromide salts, hydrogen bromide, and organobromide, among which organobromide held the largest share in the market in 2019. This dominance was driven by the large-scale consumption of organobromides — vinyl bromide, styrene bromide, allyl bromide, ethylene dibromide, and propylene bromide — in the manufacturing of solvents, catalysts, flame retardants, pesticides, gasoline, and intermediates for fumigants, organic synthesis, and antiknock agents.

The Asia-Pacific (APAC) region dominated the bromine market during the historical period of 2014–2019, due to the high consumption and production of bromine derivates in China. China is witnessing an increasing influx of foreign manufacturers, who are setting up derivative production plants in the country. The rise in the number of manufacturing plants is an outcome of the abundant availability of naturally occurring bromine, consumers, and cost-effective labor. China is driving the APAC market because of the escalating consumption of bromine-based flame retardants during the manufacturing of plastic products, insulation, and electronics.

Sales of Polytetrafluoroethylene Set to Boom in North America and Europe in Future

noreply@blogger.com (Manish Baghel) — Mon, 23 Nov 2020 11:34:00 +0000

With burgeoning sales of electrical and electronics items all over the world, the demand for polytetrafluoroethylene (PTFE) is set to grow rapidly in the coming years. This is because PTFE is extensively used in cable ties, battery binders, brush holders, circuit breakers, connectors, and barb insulators. Moreover, with the rapid growth of the population, the demand for electrical and electronics products will soar, especially in the developing South Asian countries.

PTFE is required in various areas such as cable and wire jacketing, high-voltage encapsulation devices for electrical parts and components, and separation of conductive surfaces in capacitors. In addition to this, PTFE is heavily used in the fabrication of semiconductor devices. As per the Semiconductor Industry Association (SIA), the requirement for semiconductors grew massively in 2018. According to the organization, a shipment of more than one trillion units was shipped in 2018.

Furthermore, the total sales of semiconductors grew by more than 20% in China from 2017 to 2018. Apart from this, the rising adoption of PTFE-based utensils is also fueling the demand for the material. This is, in turn, pushing up the sales of the material, which is subsequently driving the expansion of the global polytetrafluoroethylene market. As a result, the value of the market is predicted to grow from $2,197.8 million to $2,953.6 million from 2019 to 2024.

This is credited to the presence of a thriving automotive industry in the region. The growing popularity of lightweight vehicles in the regional countries such as the U.K., Germany, and France will boost the requirement for PTFE coatings in the future. North America will witness rapid growth in the demand for polymers of fluoroethylene in the future years. This would be a result of the expanding industrial sector and the large-scale industrial activities being performed in the North American countries.

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Why will Sales of Autoclaved Aerated Concrete Blocks Boom in Asia-Pacific in Future?

noreply@blogger.com (Manish Baghel) — Thu, 19 Nov 2020 12:34:00 +0000

The rising urbanization and industrialization in various countries is pushing up the requirement for autoclaved aerated concrete (AAC) blocks. AAC has low cost and great resistance to fire and earthquake and is therefore, widely used in construction activities. As these blocks are available in multiple sizes, their usage brings down the construction time by as much as 20%. Besides rapid urbanization and industrialization, the increasing construction of roadways is also boosting the sales of AAC blocks across the globe.

Furthermore, the soaring construction of residential buildings in several countries, on account of the surging population, is causing a sharp surge in the demand for autoclaved aerated concrete blocks. With the escalating pollution and deteriorating air quality levels, the demand for sound-proof and green buildings is growing rapidly all over the world. The production of these substances is very environment-friendly as these materials are made up of non-hazardous ingredients. Moreover, these materials do not emit toxic gases.

Due to the above-mentioned factors, the sales of AAC blocks are climbing, which is, in turn, fueling the expansion of the global autoclaved aerated concrete market. The market valuation is predicted to grow from $4,498.5 million to $8,314.9 million from 2019 to 2030. The market would also advance at a CAGR of 6.0% between 2020 and 2030. Depending on application, the market is divided into road sub-base, bridge sub-structure, concrete pipe, construction material, roof insulation, and void filling.

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Globally, the autoclaved aerated concrete market is predicted to exhibit lucrative growth in the Asia-Pacific (APAC) region in the forthcoming years. This would be a result of the growing usage of AAC blocks in construction and infrastructural development activities in countries such as India, Japan, and China. Moreover, the ballooning construction activities such as the rapid development of schools, hospitals, and houses in the regional countries are boosting the market advancement.

Hence, it can be said with full certainty that the demand for AAC would explode all over the world in the years to come, mainly because of the increasing construction and infrastructural development activities in several countries and the rapid construction of sound-proof and green buildings around the world.

Global Agricultural Adjuvants Market Predicted to Generate Over $5,000.0 Million Revenue by 2030

noreply@blogger.com (Manish Baghel) — Wed, 18 Nov 2020 07:46:00 +0000

In 2019, the global agricultural adjuvants market generated a revenue of $3,106.7 million and it is predicted to exhibit a CAGR of 5.5% between 2020 and 2030. Furthermore, the market is predicted to attain a value of $5,485.1 million by 2030. The factors fueling the progress of the market are the surging investments being made in the agriculture sector, the ballooning requirement for agrochemicals, and the increasing demand for food products across the world.

With the soaring population levels in several countries, the demand for food products is skyrocketing. This is subsequently causing a sharp surge in the demand for higher crop yield. According to the United Nations Department of Economic and Social Affairs’ (UNDESA) Population Division, the global population is expected to rise from 7.6 billion to almost 9.8 billion from 2017 to 2050, demonstrating a growth rate of 30.9% over the next 33 years.

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The additional population of approximately 2.2 billion will boost the demand for cash crops, food crops, and horticulture crops in the upcoming years. Due to this reason, farmers will have to massively enhance the agricultural yield and farm productivity in the forthcoming years, which can only be achieved by incorporating advanced agricultural techniques and agrochemicals such as pesticides, herbicides, and insecticides in agriculture. This way the surging global population is propelling the advancement of the agricultural adjuvants market.

Another major factor driving the growth of the market is the increasing incorporation of supply chain technologies, novel farming solutions, and farm robotics in agricultural operations across the globe. Moreover, many public and private companies are investing heavily in the research and development of advanced solutions for attaining enhanced crop quality and higher productivity. Based on function, the market is categorized into activator adjuvants and utility adjuvants. The activator adjuvants division will exhibit rapid progress in the coming years.

Lead-Acid Battery Sales Predicted to Shoot-Up in Asia-Pacific in Coming Years

noreply@blogger.com (Manish Baghel) — Tue, 17 Nov 2020 08:38:00 +0000

The growing sales of electric vehicles (EVs) and hybrid electric vehicles (HEVs) are causing a sharp surge in the demand for lead-acid batteries across the world. Due to the soaring pollution levels, the governments of many countries are implementing policies aimed at boosting the deployment of eco-friendly modes of transportation such as electric vehicles. Because of these policies, various EV manufacturing companies such as Tesla Inc. and Nissan Motor Corporation are planning to manufacture new models in the future.

As lead-acid batteries are widely used in these vehicles as the main power source, on account of their high energy density and high specific energy, the mushrooming popularity of EVs is pushing up the sales of lead-acid batteries across the globe. Many countries and regulatory authorities are enacting several initiatives for limiting greenhouse gas emissions and mitigating environmental degradation. This is bolstering the deployment of environment-friendly vehicles such as EVs all over the world.

For example, a multi-government policy forum called the Electric Vehicles Initiative (EVI) was set up by the Clean Energy Ministerial (CEM), which is a France-based organization, in 2010. The forum was established for propelling the usage of electric vehicles across the globe. Besides these factors, the ballooning sales of automobiles, on account of the increasing urbanization and the rising disposable income of people, are also pushing up the demand for lead-acid batteries all over the world.

Due to the above-mentioned factors, the global lead-acid battery market is exhibit rapid expansion. Furthermore, the value of the market is predicted to grow from $56.9 billion to $70.7 billion from 2017 to 2023. The market is also expected to progress at a CAGR of 3.7% between 2018 and 2023. Based on construction, the market is categorized into flooded and valve-regulated lead-acid (VRLA). Between these, the flooded category recorded higher growth in the market in the past years.

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Why Asia-Pacific Will Generate Highest Demand for Corrugated Boxes?

noreply@blogger.com (Manish Baghel) — Fri, 13 Nov 2020 09:36:00 +0000

As of 2019, the corrugated boxes market stood at $180.9 billion, and it is projected to be valued at $284.6 billion by 2030, growing at a CAGR of 4.3% during the forecast period of 2020–2030. The projected growth would be due to the stacking strength, structural strength, and puncture resistance of corrugated boxes. Other key forces behind the increase in the demand for these boxes are the growth in the packaging industry and increase in the use of corrugated boxes by online retailers.

The increasing use of corrugated boxes is also because of their environmental benefits. Unlike the past, the manufacturers are recycling old corrugated packaging for the production of new boxes. Producers are using innovative technologies for shredding and compaction, which enable the recycling of corrugated boxes. These boxes produce fiber that is further used in the creation of new products. Due to the extreme levels of pollution owing to material wastage, strict mandates to recycle and reuse these boxes are in place in numerous countries.

According to P&S Intelligence, the demand for corrugated boxes will be highest in the Asia-Pacific (APAC) region in the future, because of an increase in the environmental awareness. Due to the increasing environmental concerns, the packaging industry is opting for sustainable materials. This awareness, when coupled with a rise in e-commerce activities and increase in the demand for personal care products and electronic goods, will lead to a change in the consumption pattern. Additionally, the availability of cheap raw materials and government initiatives to promote eco-friendly products enable the increase in the demand for corrugated boxes.

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APAC will additionally generate the highest demand for corrugated boxes due to the emerging online market in India and China. Online retailers have emerged as the new propellers for the global corrugated boxes market growth. As of 2019, the global e-commerce market was worth $3.5 trillion, and it will grow substantially in the coming times. India and China are the fastest-growing e-commerce markets because of the increase in smartphone penetration, development of delivery infrastructure, and discount-driven sales.

Why will Sales of Lubricants Shoot-Up in Asia-Pacific in Future?

noreply@blogger.com (Manish Baghel) — Thu, 12 Nov 2020 07:13:00 +0000

The rapidly growing automotive sector in the developing nations such as India, China, Mexico, and Brazil, on account of the surging sales of new automobiles and the soaring per capita income is causing a sharp rise in the demand for lubricants. Moreover, the ballooning sales of new cars and commercial vehicles are providing lucrative growth opportunities to the lubricant producing companies. This is because lubricants are used in the crankcases of engines for ensuring the efficient operation of automobiles.

Additionally, lubricants are used in automobiles for reducing friction, which, in turn, leads to lower wear and tear and longer lifespans. The increasing public awareness of lubricants and their role in ensuring vehicle and machine functioning is another major factor fueling the sales of lubricants across the globe. Moreover, many organizations are adopting highly customer-oriented methods such as those involving print and visual media for creating greater customer awareness about lubricants.

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Promotional campaigns and trade shows, where companies offer gifts or free samples to customers are some of the biggest examples of these customer-oriented methods. Because of these reasons, the demand for lubricants is growing rapidly around the world. This is, in turn, driving the progress of the global lubricants market. As a result, the value of the market is predicted to rise from $95,403.9 million to $115,350.6 million from 2019 to 2030.

Additionally, the presence of less strict environmental protection policies in these countries in comparison to the developed nations fuel the sales of mineral oil-based lubricants, which, in turn, drives the category’s growth in the market. Geographically, the lubricants market recorded the highest growth in the Asia-Pacific (APAC) region in the past years and this trend will also continue in the future years, as per the forecast of P&S Intelligence, a market research company based in India.

The rapid market advancement in the region would be caused by the existence of huge manufacturing zones and facilities in the region. Moreover, the region is a global manufacturing hub and is predicted to witness the setting up of numerous plants in the coming years. Furthermore, the flourishing automotive industry in the region, on account of the rising per capita income of the people, is massively boosting the growth of the market.

How Are 3D Printing Materials Bringing Down Manufacturing Costs?

noreply@blogger.com (Manish Baghel) — Thu, 12 Nov 2020 06:42:00 +0000

From $9.346 trillion in 2009, global manufacturing, value-added rose sharply to $13.809 trillion in 2019, says the World Bank. This has been a result of the population boom, which has led to a massive increase in the demand for a variety of products, from processed food and personal care goods to automobiles and consumer electronics. With time, the manufacturing sector has undergone continuous evolution: first, there was mostly manual work. and then came machines, followed by assembly lines. Soon, much of the human work in many industries was replaced by robots.

One of the newest advancements in the manufacturing industry is 3D printing, in which a machine, known as 3D printer, builds a product, part or component layer by layer. Among the numerous of its advantages, it checks raw material wastage, which helps in a lot of cost savings for companies. P&S Intelligence says that due to the increasing popularity of this production method, the 3D printing materials market would grow from $558.4 million in 2017 at a healthy 16.7% CAGR during 2018–2023, to $1,365.6 million by 2023.

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Conventionally, all the parts have to be individually produced and then shipped hundreds of miles to the assembling facility. Using 3D printing, an entire component can be manufactured at once, thus improving the production efficiency and speed and reducing the manufacturing cost. For instance, in place of 855 individually manufactured parts, General Electric is using just 12 3D-printed parts for its latest turboprop aircraft engines. Further, in 2015, the Federal Aviation Authority (FAA) gave GE the greenlight to use 3D-printed parts in engines of commercial jetliners.

Due to such massive usage of the 3D printing technology in the U.S., North America has been the largest 3D printing materials market for quite some time now. Apart from GE, several other companies are mulling the usage of this technique for manufacturing. For instance, the Boeing Company hopes to bring down the production cost of the 787 Dreamliner by up to $3 million with 3D-printed parts. Moreover, the usage of this production method is also increasing in the regional healthcare sector, with 3D-printed implants having received the Food and Drug Administration (FDA) approval in 2010.

Therefore, as 3D printing penetrates into more industries and applications, the demand for the various materials used in the process is set to rise massively.

Control Valve Demand Set to Explode in Asia-Pacific in Coming Years

noreply@blogger.com (Manish Baghel) — Thu, 12 Nov 2020 06:09:00 +0000

The surging population across the globe is the biggest factor responsible for the soaring demand for control valves. This is because the growing energy requirements, on account of the booming population, is pushing up the demand for consistent power plant performances. Moreover, it is fueling rapid advancements and innovations in the equipment and devices required for the processing, production, and transportation of energy and making the usage of these advanced devices highly essential in power plants.

Therefore, in order to meet the soaring energy demand, control valves are increasingly being used in power plants. This is, in turn, driving their sales across the globe. Besides being heavily used in power plants, control valves are also extensively used in the food and beverages industry. Because of this reason, the rapid growth of the food and beverages industry is causing a sharp surge in the sales of control valves.

Additionally, the launch of extensive infrastructural development and construction projects in several countries is propelling the demand for control valves. This is because of the mushrooming power requirements because of these large-scale infrastructural development activities all over the world. The other important factor boosting the sales of control valves is the growing demand for wireless infrastructure and facilities for monitoring and controlling systems and equipment in various industries around the world.

Due to the above-mentioned factors, the global control valves market is registering rapid advancement. Depending on actuation technology, the market is divided into pneumatic control valve, manual control valve, hydraulic control valve, and electric control valve. Out of these, the pneumatic control valve category recorded the highest growth in the market in the past years. This was because of the ability of the pneumatic control valves to provide consistent performance and accurate linear motion in different temperatures.

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Packaging Adhesives Market Set for Explosive Growth in Far East in Coming Years

noreply@blogger.com (Manish Baghel) — Wed, 11 Nov 2020 06:47:00 +0000

From $10,426.9 million in 2019, the global packaging adhesives market is predicted to reach a value of $17,137.4 million in 2030. According to the forecast of P&S Intelligence, a market research company based in India, the market would progress at a CAGR of 4.6% between 2020 and 2030. The ballooning requirement for packaging adhesives in the food and beverage industry is one of the major factors fueling the advancement of the market.

Adhesives are extensively used in various food & beverage packaging applications. With the growing consumer awareness of health and fitness and the rising adoption of busier lifestyles, the demand for maintaining the shelf life or freshness of packaged food items is increasing rapidly all over the world. According to the estimates of All4Pack Paris, the valuation of food packaging is predicted to grow from $273.9 billion to $356.7 billion from 2017 to 2023.

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The mushrooming sales of packaged food products are boosting the demand for packaging adhesives, which is, in turn, propelling the growth of the packaging adhesives market. Apart from this factor, the increasing popularity of online shopping is also positively impacting the progress of the market. The surging penetration of the internet is fueling the expansion of the e-commerce industry across the globe. Moreover, people are increasingly preferring online shopping these days over the conventional methods.

These factors are boosting the popularity of home deliveries, which is, in turn, augmenting the requirement for packaging adhesives. When formulation is taken into consideration, the packaging adhesives market is categorized into water-based, solid-based, and solvent-based. Out of these, the water-based category recorded the highest growth in the market in the years gone by. This was because the water-borne adhesives are highly eco-friendly and do not contain toxic volatile organic compounds.

Why is Demand for Organic Fertilizers High in European Countries?

noreply@blogger.com (Manish Baghel) — Tue, 10 Nov 2020 09:05:00 +0000

The area attributed for organic farming has witnessed significant growth in the past few years, owing to a number of factors. Several private and public players have made considerable investments in organic food supply chain. In addition to this, people are widely organic food products due to their perceived health benefits and the fact that their production includes low chemical leaching. The price for organic food is also high, since it majorly catering to high-end population in developed countries.

Ascribed to these factors, the global organic fertilizers market is predicted to grow at a considerable pace in the years to come. Furthermore, according to the data by the Research Institute of Organic Agriculture, government initiatives and policies, equivalence agreements between countries for product benchmarking, certification, and labeling, and participatory guarantee systems are compelling landowners to move towards organic farming. This is further expected to drive the demand for organic fertilizers in the years to come.

The organic fertilizers market is projected to reach $14,746.2 million by 2030, increasing from $4,512.1 million in 2019, progressing at a 14.1% CAGR during the forecast period (2020–2030). When source is taken into consideration, the market is divided into animal, plants, and others, between which, the animal division held the major share of the market in the past. The division is further projected to dominate the market during the forecast period, owing to the high preference for these fertilizers among users.

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The region is home to the largest tract of organic arable land around the world, owing to which organic cultivation is growing in the region in a number of countries, such as Italy, Spain, France, and Germany. Moreover, the high per capita income of people in the region is also creating high demand for organic food, in turn, driving the demand for organic fertilizers. Other than this, the demand for organic fertilizers is also projected to rise in Latin American and Africa countries in the coming years.

How Can Levulinic Acid Help in Environment Protection?

noreply@blogger.com (Manish Baghel) — Mon, 09 Nov 2020 09:49:00 +0000

The increasing sale of automobiles around the world is leading to the rising demand for petrol (gasoline) and diesel. This is why exploration and production (E&P) activities, which include extracting, transporting, and refining crude oil, are increasing at a rapid pace. Even after refining, gasoline and diesel are not used on their own, but a number of fuel additives are mixed in them to improve their attributes, as well as the performance of vehicles’ engines and fuel pipes.

According to P&S Intelligence, this factor would help in driving the levulinic acid market to $60.2 million by 2030, from $27.2 million in 2019, at an 8.8% CAGR during 2020–2030 (forecast period). This is because derivatives of levulinic acid, especially methyltetrahydrofuran (MTHF) and ethyl levulinate, are used as additives in gasoline and diesel, respectively. Fuel additives accomplish various objectives, such as stopping the engine from corrosion, preventing the deterioration of fuel, allowing the fuel to flow in cold weather, and removing carbon deposits from the engine and engine pipes.

Similarly, other derivatives of this compound, including sodium levulinate, hydroxymethylfurfural (HMF), diphenolic acid, and succinic acid, are used as additives in personal care products and food and beverages. For instance, sodium levulinate is used in cosmetics as a skin conditioning agent, as well as a preservative in food products, including meat. Developing countries are presently witnessing fast economic growth, which is leading to increasing disposable income. This is why people are spending more than ever on packaged and processed foods and cosmetics, thereby propelling the consumption of levulinic acid.

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The highest consumption of the acid and its derivatives is presently seen in North America, majorly owing to the rising requirement for bio-based chemicals for the manufacturing of agricultural products, fuel additives, and personal care products. For instance, levulinic acid is being increasingly used in bio-based herbicides and pesticides, due to the stringent environmental regulations imposed on the agricultural sector in the region. Moreover, ethyl levulinate is added to biofuels, the demand for which is growing in the continent on account of the rising awareness about the harms of using fossil fuels.

Over $4,000.0 Million Growth Predicted in Structural Adhesives Market till 2024

noreply@blogger.com (Manish Baghel) — Fri, 06 Nov 2020 09:10:00 +0000

The key driving factors for the structural adhesives market are the increasing demand for such materials in the footwear industry and their rising consumption in infrastructure projects. As a result, the value of the industry will display a 5.2% CAGR during 2019–2024 (forecast period), to advance from $11,677.9 million in 2018 to $15,683.0 million by 2024. Such materials are used to join substrates or components of structures that are under high physical stress for long periods.

Epoxy, acrylic, polyurethane, cyanoacrylate, and others are the categories of the market, based on type. Among these, during the historical period (2014–2018), the market was led by the acrylic category, due to the high peel strength and sheer of acrylic structural adhesives. This is why such adhesives can join plastic and metallic surfaces in footwear, woodwork, building & construction, and do-it-yourself (DIY) applications. The epoxy category is expected to witness the fastest growth during the forecast period, owing to their rising usage in end-use industries, especially for riveting and welding.

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The growing infrastructure industry is the biggest driving factor for the structural adhesives market advance. Due to the population boom, the demand for houses, civic infrastructure, commercial spaces, and industrial settings is rising. This is driving construction activities around the globe, especially in China, the U.S., and India. Structural adhesives make the structures they are used on resistant to chemicals, heat, and humidity, which is why these materials are being widely used on bridges, buildings, railway infrastructure, and roads.

During the historical period, Asia-Pacific (APA) was the largest structural adhesives market, and the situation is set to remain unchanged till 2024. The construction industry in regional countries, especially India and China, is growing on a massive scale, as a result of the burgeoning population, a lot of which is now moving to cities. Additionally, structural adhesives are being widely consumed in the packaging, automotive, and manufacturing industries for joining plastic and metallic substrates.

Hence, as the focus shifts away from weaker adhesives and nuts and bolts, the demand for structural adhesives will rise further.

Paints and Coatings Market Size, Share, Regional Demand, Growth and Forecast to 2023

noreply@blogger.com (Manish Baghel) — Thu, 05 Nov 2020 07:00:00 +0000

The construction industry has been registering significant growth across the globe, owing to the surging population in countries including the U.S., India, China, and the U.K. Moreover, the growing number of overseas buyers have also been responsible for the expansion of the construction sector. This is further resulting in the huge investments in hotels, residential apartments, civic infrastructure, and retail centers. Ascribed to this growing construction industry, the demand for paints & coatings has been rising as well.

Paints & coatings are important products that are applied on physical infrastructure to provide it with a finishing touch. These products are used for enhancing the aesthetics appeal of buildings, however, they also protect buildings from wear & tear and different weather conditions. Owing to such advantages, the global paints & coatings market is expected to advance at a significant pace during the forecast period. Owing to technological advancements, several new kinds of products are now available in the market for suiting different needs.

Take for example smart coatings, which have the ability to transform their properties according to the stimuli that is being provided by the external environment, such as temperature and electric field. These coatings are increasingly gaining popularity in a number of applications, such as the restoration of historical buildings. Smart coatings further offer advantages including the capability to mask the damage done to an aircraft engine and the ability to be used as a composite for making lightweight aircraft.

The paints & coatings market is predicted to generate a revenue of $262.5 billion by 2023, increasing from $186.7 billion in 2017, progressing at a 6.0% CAGR during the forecast period (2018–2023). When resin type is taken into consideration, the market is divided into epoxy, polyurethane, polyester, acrylic, and others (which include polycarbonates, nylon, and nitrocellulose lacquer). Out of all these, the acrylic division dominated the market in the past, accounting for a sales volume share of more than 40.0% in 2017.

These resins are highly soluble, elastic, versatile, non-toxic, and water-resistant, owing to which, their demand has been rising at a rapid pace. The polyurethane division is expected to register the highest CAGR of 5.9% during the forecast period. These resins make structures and buildings aesthetically appealing and strong, which is why, they are quickly becoming a preferred choice for commercial and residential interior projects. The expansion of the construction industry is further predicted to drive the demand for these paints & coatings in the coming years.

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When formulation is considered, the paints & coatings market is categorized into powder, water-based, UV coatings, and solvent-based. Among these, the UV coatings category is projected to register the highest CAGR of 7.3% during the forecast period, in terms of sales volume. These coatings provide various advantages over their counterparts, such as reduced environmental impact, rapid cure speed, zero pot life issues, and low energy costs.

Hence, the market is being driven by the growth of the construction industry and rising demand for smart coatings.

How is Need for Clean Energy Driving Industrial Gases Market?

noreply@blogger.com (Manish Baghel) — Wed, 04 Nov 2020 12:44:00 +0000

The global industrial gases market is expected to reach a value of $154.079.5 million by 2030, increasing from $92,392.4 million in 2019, progressing at a 5.5% CAGR during the forecast period (2020–2030), as per a report by P&S Intelligence. The key factors leading to the growth of the market are the rising government initiatives regarding alternate sources of energy, wide range of applications, and advancing healthcare industry, owing to rising expenditure in the industry.

The Asia-Pacific region accounted for the largest share of the industrial gases market in 2019, and the situation is likely to remain the same during the forecast period as well. The huge base of manufacturing industries in Japan, China, South Korea, and India, due to low labor cost and less strict environmental regulations, is driving the regional domain. The region is further projected to witness the highest growth due to the surging population and rising spending power of people in the country, owing to increasing per capita income.

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The increasing initiatives by governments for alternate sources of energy is expected to drive the industrial gases market in the coming years as well. The concerns regarding carbon emissions from fossil fuels have been surging at the present time, owing to which, the worldwide interest is shifting form traditional energy to green and sustainable energy. Presently, solar PVs are an important source of green energy. Industrial gases are used in the PV sector for reducing silicon losses and wafer production during the ingot sawing process.

Hence, the market is growing due to the large end-use industrial base and rising initiatives for shifting towards alternate energy sources.

Increasing Product Use in Cosmetics Industry Driving Bismuth Nitrate Market

noreply@blogger.com (Manish Baghel) — Wed, 04 Nov 2020 11:42:00 +0000

The global bismuth nitrate market generated a revenue of $190.6 million in 2019, and is projected to progress at a 5.1% CAGR during the forecast period (2020-2030), according to a report by P&S Intelligence. The major factors driving the market are the swift expansion of the pharmaceutical sector in Asia-Pacific (APAC) and rising adoption of bismuth nitrate over other derivatives of bismuth. In terms of grade, the market is divided into industrial grade and pharmaceutical grade.

Between the two, the pharmaceutical grade held the major share of the market in 2019, in terms of value, owing to the high consumption of this compound for manufacturing of drugs. Furthermore, rising investments are being made in research & development activities for discovering novel applications of pharmaceutical grade of the compound in the medical industry. This is projected to result in the rising demand for pharmaceutical grade bismuth nitrate during the forecast period, thereby leading to the growth of the market.

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When application is taken into consideration, the bismuth nitrate market is categorized into chemical manufacturing and drug formulation, between which, the drug formulation category accounted for the larger share of the market in the past. The compound is capable of preventing any sort of damage to bone marrow or kidneys of cancer patients, which can be caused during the treatment of the disease. In addition to this, duodenal ulcers can be cured using drugs that are formulated by making use of bismuth nitrate.

Geographically, the Asia-Pacific (APAC) region dominated the bismuth nitrate market in 2019, and the region is further expected to register the fastest growth during the forecast period. The rising R&D activities in the pharmaceutical sector for developing drugs for diseases that cannot be cured at the present time is driving the demand for bismuth nitrate in APAC. Moreover, the increasing number of people suffering from cancer is also resulting in the growth of the regional domain.

What are Key Advantages of Polytetrafluoroethylene and how are they leading to its High Demand?

noreply@blogger.com (Manish Baghel) — Tue, 03 Nov 2020 07:45:00 +0000

The electrical & electronics sector has been witnessing significant growth over the past few years. As per the Semiconductor Industry Association, the worldwide demand for semiconductors reached a shipment of more than 1 trillion units. In addition to this, the sales of semiconductors in China rose by more than 20.5% in 2018 as compared to 2017. The disposable income of people around the world is increasing, owing to which, they are able to afford different electronics items. This expansion of the industry is bound to create requirement for materials that are utilized in the production of different products.

It is due to these factors that the demand for polytetrafluoroethylene (PTFE) is growing. It is utilized in the electrical & electronics industry for various applications, such as cable tires, battery binders, brush holders, circuit breakers, connectors, barb insulators, and in the fabrication of semiconductor devices. PTFE is a hydrophobic material that is primarily known for its non-stick attributes. It has high density and is resistant to high temperatures, ascribed to which is utilized a number of applications. As per a report by P&S Intelligence, the global PTFE market is predicted to attain $2,953.6 million by 2024, rising from $2,197.8 million in 2018, advancing at a 5.0% CAGR during the forecast period (2019–2024).

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PTFE has different types, namely aqueous dispersion, powder, and granules, among which, the demand for granular types was the highest in the past. Even though powder and granular forms have similar properties, granular is preferred more, as it is relatively difficult to mix fine-powder PTFE with solids for forming a uniform blend. In addition to this, the powder variant is more expensive than the granular one. The granular type is ideal to compress molding for the production of sheets, tubes, and rods.

PTFE has a number of applications, including tapes, tubes, fuel additives, films & sheets, wires & cables, fabrics, and coatings. Out of all these, the largest demand for PTFE was created for the coatings application in the past, which is owing to the high requirement for PTFE-coated seals, valves, and rings in the industrial processing sector. The major end users of PTFE are medical, automotive, industrial processing, construction, and electrical & electronics sectors. The largest demand for the chemical in the past was created by the industrial processing sector, as PTFE-coated piping, gaskets, and linings are widely utilized in the sector.

The ability of the material to enhance the heat and chemical resistance, improve the electrical load bearing capacity of the base material, and reduce sticking and friction are some of the major reasons for its increasing adoption in the industrial processing sector. Geographically, Asia-Pacific has been the largest PTFE market in the past and is further predicted to make the most use of this material in the coming years as well. This is particularly due to the high demand for PTFE from the electrical & electronics and automotive industries in the region.

In conclusion, the demand for PTFE is growing because of the expansion of the electrical & electronics industry.