Why are Meta-Xylene Sales Booming in Asia-Pacific?

The burgeoning requirement for isophthalic acid is fueling the demand for meta-xylene (m-xylene) across the world. Isophthalic acid is basically an organic compound that is used in several applications such as the production of inks, reinforced plastics, alkyd resins, and unsaturated polyester resins. The sales of plastics are driven by the mushrooming requirement for packaging products and the increasing construction and building activities in various countries all over the world. 

As per the GRID-Arendal, which is a United Nations’ affiliated organization, in 2017, around 400.0 million tons of plastic were manufactured. Isophthalic acid is used for producing plastic in huge quantities. Since meta-xylene is required for producing isophthalic acid, the increasing usage of isophthalic acid is fueling the surging demand for m-xylene. The mushrooming requirement for paints and coatings, due to their heavy utilization in infrastructural development and construction activities, is also pushing up the worldwide sales of meta-xylene. 

During the last several years, several petrochemical producing organizations have built and proliferated their production facilities near the oil-producing regions, especially in the Americas, Europe, and the Middle East. However, during the last few years, the Asia-Pacific region has observed huge expansion in the petrochemical sector. This is one of the major trends witnessed in the meta-xylene market. This trend has massively pushed up the production of meta-xylene in several countries. 

Globally, the m-xylene market is currently recording the fastest growth in the Asia-Pacific (APAC) region, as per the findings of P&S Intelligence, a market research company based in India. This is ascribed to the increasing usage of m-xylol in the packaging, aerospace, and automotive industries. In addition to this, the presence of a rapidly growing construction industry in South Korea and China is boosting the requirement for new coating formulations and resins in the region. 

Hence, it is safe to say that the demand for meta-xylene is predicted to soar all over the world in the forthcoming years, mainly because of the rising usage of the compound in isophthalic acid production, which is itself experiencing a sharp rise, because of the growing requirement for reinforced plastics across the world. 

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Why Does North America Consume Massive Volumes of Proppants?

Despite efforts to use renewable energy, crude oil and natural gas continue to fuel the world. Though the growth of the oil & gas sector has slowed in recent years, new offshore and onshore wells are still being dug around the world. The gas and oil are buried deep within the bedrock, which needs to be cracked open for the commodity to flow. After the cracks are created, they need to be kept open with the application of continuous pressure, so that they don’t close up over time.

This is done by stuffing a proppant into the cracks; in the majority of places, sand or a ceramic material are used as proppants. As per P&S Intelligence, the slow but steady growth in exploration and production (E&P) activities will drive the proppant market from $6,057.0 million in 2017 to $10,562.9 million in 2023, at a 9.5% CAGR between 2018 and 2023. Apart from ceramic material and sand, several resin-coated materials are used as proppants. However, sand still remains the most popular proppant among E&P companies on account of its lower cost and easy manufacturing process than other materials.

In this regard, North America, which is the largest proppant market, is expected to witness the highest consumption of such cost-effective materials. This would be a direct result of the increasing E&P activities in the region. For instance, the Railroad Commission of Texas (RRC) says that between January and March 2018, 2,712 wells became operational in the U.S., compared to 1,925 during January–March 2017. In recent years, E&P companies have been encouraged to increase their activities by the slight recovery in the prices of oil and gas.

Hence, the demand for proppant all across the globe is rising because of the growing need for oil and the increased utilization of the fracking process. 

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Application of Acetylic Chemicals Widening in Industries

Acetyls are organic compounds that consist of a methyl group that has reacted with a carbonyl held by a single bond. This functional group is present in acetic acid, acetylsalicylic acid, acetaminophen, acetylcholine, and acetylcysteine. Acetyls undergo the chemical process of formulation known as acetylation to form the acetyl group into a molecule. The acetyl groups of acetic anhydride, vinyl acetate monomer (VAM), and acetic acid are utilized in manufacturing intermediates for products such as inks, adhesives, solvents, and water-based paints.

Moreover, the application of these organic compounds is escalating in the renewable energy sector due to the widescale consumption of VAM in the production of photovoltaic cells. The increasing awareness regarding solar energy and growing support from the government to create and use it will propel the installation of photovoltaic cells, thus fueling the demand for VAM. According to P&S Intelligence, the widening application base of acetylic compounds will accelerate the acetyls market at a CAGR of 6.9% during forecast period, since valuing $22,004.7 million in 2015.

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Geographically, the Asia-Pacific region consumed the highest volume of acetylic compounds in the past, and it is expected to increase their usage in the coming years. This can be ascribed to the heavy investment in the oil and gas industry, expansion of the electronics sector, and large automobile industry. Apart from this, acetyls find wide application in the production of paints and coatings, textiles, packaging material, and adhesives that are used in the furniture and construction industries. Besides, the demand for acetyls is also generated from the chemical industry of APAC countries.

Thus, the increasing application of chemicals containing the acetyl group will fuel the demand for them in the foreseeable future.

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Sustainability Efforts Driving Bio-Based Polyethylene Terephthalate (PET) Usage

The bio-based polyethylene terephthalate market to grow to $8,682.6 million by 2023 from $3,917.4 million in 2017, at a healthy 14.7% CAGR between 2018 and 2023. Such plastic contains 70% purified terephthalic acid (PTA) derived from fossil fuels and 30% ethylene glycol derived from plant matter or biomass. This is why bio-based PET is fully biodegradable, recyclable, renewable, and compostable. Such bioplastics are answering the need for sustainable plastics, since mass-scale plastic recycling is yet to pick up and the demand for these materials is rising fast.

Moreover, bioplastics also last longer and offer better breathability, which is important for food products, to keep them fresh. All these advantages are encouraging plastic producers to invest in research and development (R&D) to come up with better bio-based PET and also produce more of it. In 2015, compared to synthetic plastics, only 1% bio-based plastic was produced, and by 2020, the production of the latter was targeted to reach 2.5%. 

For instance, backed by extensive R&D, The Coca-Cola Company developed a fully recyclable PET bottle, named PlantBottle, containing 70% PTA and 30% plant-based PET, in 2015. This followed the creation of a green bottle from pine bark, switch grass, and corn husk by its biggest competitor, PepsiCo Inc., in 2011. Moreover, PepsiCo has plans to replace the PTA in its PlantBottle with plant material, to achieve 100% bioplastic material, and use oat hulls, orange peel, and other agricultural byproducts in such bottles.

Thus, with extensive R&D to keep GHG emissions in control and check plastic pollution, the usage of bio-based PET and other sustainable plastics will keep rising.

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Broadening Application Base of Unstabilized Hexamine

With a surge in the population, the demand for medical products has significantly increased in recent years. This is because the rising population has resulted in poverty, which has led to an increase in the incidence of neurological diseases and urinary tract infections (UTI); poverty is usually reflected in unhygienic surroundings and poor mental health. Hexamine is used as an antibiotic for the treatment of bacteriuria in people suffering from neurological disorders and for the treatment of UTIs.

Additionally, hexamine is applied in the rubber industry, as it accelerates the production of vulcanized rubber, which is used for manufacturing automobile tires. Due to the growth in disposable income, consumers are purchasing more vehicles. This has therefore increased the production of automobiles, leading to a rise in the manufacturing of tire-grade rubber. These factors will drive the hexamine market revenue from $315.4 million in 2017 to $394.2 million by 2023. According to P&S Intelligence, the market will advance at a CAGR of 3.7% during 2018–2023.

Globally, the Asia-Pacific (APAC) region consumed the highest volume of hexamine in 2017, and the chemical demand is further escalating in industries such as resin, pharmaceutical, and rubber here. Additionally, the production of hexamine has increased in the APAC region due to the flexible norms regarding its manufacturing and availability of cheap raw materials and labor. These factors help in reducing the minimum efficiency scale (MSE) during the production of hexamine in this region. Besides, the stringent environmental laws in European countries have led producers to shift their base to the APAC region.

Thus, the booming pharmaceutical, adhesives, and plastics industries in developing countries are expected to propel the demand for hexamine in the coming years.

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Shrinking Arable Land Area Driving Agricultural Micronutrient Demand

“The world’s population is expected to grow to almost 10 billion by 2050, boosting agricultural demand – in a scenario of modest economic growth – by some 50 percent compared to 2013.”, says the Food and Agriculture Organization (FAO, part of the United Nations. However, meeting this requirement might not be that easy, considering that the arable land is already being overexploited to feed the existing population. More crop cycles than the land in a particular area is suitable for, heavy chemical fertilizer and biocide usage, and general soil pollution are harming the fertility of farmlands.

These are some of the biggest reasons that, as per P&S Intelligence, will drive the agricultural micronutrients market from $5,848.0 million in 2017 to $9,009.2 million by 2023, at a 7.5% CAGR between 2018 and 2023. Moreover, the land available for agriculture is rapidly shrinking with the expansion of cities and setting up of industrial units. In addition, with the rising population, the per person availability of arable land is decreasing too, as in many countries, the land owned by a farmer is equally divided amongst their children.

On the basis of geographical scenario, the agricultural micronutrients market was dominated by Asia-Pacific in the past, and the demand for these products is also projected to increase in the coming years. This is owing to the high micronutrient deficiency in the soil and low biofortification of crops because of the continuous reaping and sowing cycles. In addition to this, governments of several countries are also taking various initiatives for educating farmers about adding micronutrients to soil. Within the region, China is expected to create largest demand for agricultural micronutrients in the years to come. 

In conclusion, the demand for agricultural micronutrients is increasing due to the surging population and rising production of horticulture crops. 

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Unprecedented Surge Expected in Global Chlorine Demand in Coming Years

The burgeoning usage of chlorine in water treatment facilities, on account of its ability to kill bacteria and pathogens, is one of the key factors fueling its growing demand across the world. Furthermore, the increasing public awareness regarding the various diseases caused because of the consumption of untreated water such as Hepatitis A, Hepatitis E, cholera, and typhoid, especially in developing nations such as Brazil, India, and Thailand is causing a steep rise in the demand for chlorine. 

Due to the above-mentioned factors, the value of the global chlorine market size is predicted to increase from $36,845.0 million to $63,121.6 million from 2019 to 2030, exhibiting a CAGR of 5.2% from 2020 to 2030. Chlorine is widely used in the production of ethylene dichloride (EDC)/polyvinyl chloride (PVC), isocyanates and oxygenates, chloromethanes, solvents, and inorganic chemicals. Amongst these, the utilization of the compound is predicted to be the highest in EDC/PVC production in the future years. This is because of the fact that the compound is required in huge quantities in the chlorination process, required for the production of PVC/EDC.

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In terms of end-use, the chlorine market is divided into water treatment, pulp and paper, pharmaceuticals, pesticides, and plastics categories. Out of these, the water treatment division is predicted to register the highest revenue share in the market in the forthcoming years. This is attributed to the surging utilization of chlorine in water treatment facilities, on account of its ability to kill unwanted pathogens and microorganisms and subsequently disinfect water. Furthermore, the increasing public awareness of various water-borne diseases is massively boosting the usage of the compound in water treatment plants across the world.

Geographically, the Asia-Pacific chlorine market recorded the highest growth during the last few years and this trend is also expected to continue in the coming years, as per the predictions of P&S Intelligence, a market research company based in India. This is ascribed to the large-scale usage of the compound in the various developing nations of APAC such as India, Thailand, and China, primarily for water treatment and in the production of EDC/PVC. In addition to this, Chlorine is widely used in the pharmaceutical sector in the region. 

Hence, it can be safely said from the above paragraphs that the demand for chlorine will surge tremendously throughout the world in the upcoming years, mainly on account of its growing usage in the production of PVC/EDC and the mushrooming requirement of treated water for sanitation and drinking purposes.

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What are Key Factors Fuelling Surge of Printing Inks Market in India and China?

The increasing popularity of ultraviolet (UV)-cured inks across the globe and the flourishing packaging industry are some of the major factors responsible for the growing demand for printing inks across the world. In the packaging industry, printing inks are being increasingly adopted in various applications such as metal cans, flexible materials, and tags and labels. Furthermore, the rising awareness regarding the incorporation of flexible printing products in directories, magazines, catalogs, inserts, and periodicals are significantly boosting the need for printing inks all over the world.

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Due to the above-mentioned factors, the global printing inks market is expected to exhibit huge growth in the coming years. Printing inks are extensively adopted in commercial printing, labels and packaging, and publication industries. Amongst these, the labels and packaging industry has been registering the significant usage of printing inks over the last few years. There are different types of printing inks available in the market— lithographic inks, gravure inks, flexographic inks, letterpress inks, and digital inks. Out of these, the utilization of lithographic inks was found to be very high in the past. 

One of the major trends currently being witnessed in the printing inks market is the rising popularity of flexography printing inks and increasing preference for eco-friendly printing inks throughout the world. This is mainly credited to the increasing customer spending power, changing lifestyles, and soaring awareness amongst the people about high quality flexible packaging materials. Furthermore, the increasing environmental damage caused by the usage of traditional printing inks, because of the toxic and inorganic materials present in them, are making people switch toward eco-friendly printing inks such as UV-cured and water-based printing inks.

Hence, it can be said with certainty that the sales of printing inks will escalate considerably all over the world in the coming years, mainly on account of their increasing requirement in the packaging industry and the burgeoning demand for flexible printing materials in various applications.

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Global Hot Melt Adhesives Market Set for Lucrative Growth in Future

The global hot melt adhesives market attained a valuation of $7,717.0 million in 2019 and is predicted to advance at a CAGR of 6.1% between 2020 and 2030. According to the estimates of P&S Intelligence, a market research company based in India, the market would reach $12,761.3 million revenue by 2030. The surging consumer spending and the increasing usage of adhesives in various industries such as automotive and packaging are the main factors driving the progress of the market.

The soaring economic growth of developing countries such as China, Indonesia, and India in recent years is one of the biggest factors propelling the advancement of the hot melt adhesives market across the world. The swift economic progress of these countries has caused a sharp surge in the disposable income and per capita income of the people residing in them. This has, in turn, pushed up the requirement for products such as footwear, electronics, and clothes.

This would be because of the presence of a large manufacturing base, huge population, and the surging disposable income of the people living in the regional countries. Moreover, the soaring sales of automobiles, electronics, and packaged food products are boosting the requirement for hot melt adhesives in the region. Many companies are increasingly using these adhesives for meeting the rising requirement for various electronics products and food items. This is consequently driving the advancement of the market in the region.

Thus, it can be safely concluded that the market will demonstrate substantial growth all over the world in the upcoming years, mainly because of the rising requirement for packaged goods and the surging popularity of e-commerce across the world.

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Thriving E-Commerce Industry Driving Adhesive Tapes Market Advancement

The extensive usage of adhesive tapes in packaging applications in various industries such as e-commerce and electrical and electronics is causing a sharp surge in their sales all over the globe. Moreover, with the advancement of the e-commerce industry, on account of the rising penetration of the internet and the growing popularity of online shopping, the demand for adhesive tapes would rise, which would, in turn, cause the expansion of the global adhesive tapes market in the future.

Apart from being used the e-commerce and electrical and electronic industries, adhesive tapes are also widely required in the automotive industry. These tapes are used in the automotive industry in the form of protection tapes and double-sized tapes. Automakers are increasingly replacing the traditionally used mechanical fasteners such as screws and bolts with adhesive tapes because of the growing requirement for lightweight vehicles. The usage of lightweight adhesive solutions in place of fasteners significantly reduces the weight of the vehicle.

Across the globe, the adhesive tapes market registered substantial growth in Asia-Pacific (APAC) in the past. This was primarily because of the rapid growth of many industries in the regional countries in the last few years. APAC countries such as India and China exhibited rapid economic progress over the past few years and this positively impacted the revenue growth of healthcare, automotive, and electrical and electronics industries. This, in turn, propelled the sales of adhesive tapes in the region.

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Thus, it can be safely said that the market will flourish in the future years, on account of the advancement of the e-commerce industry and the rising popularity of online shopping and the growing usage of adhesive tapes in the automotive industry. 

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How are Increasing Research & Development Activities Driving Ultra-Thin Solar Cells Market?

The global ultra-thin solar cells market generated a revenue of $30.0 million in 2019 and is predicted to grow at a 56.9% CAGR during the forecast period (2020–2030). The increasing requirement for renewable energy and decreasing prices of photovoltaic (PV) panel components are expected to drive the ultra-thin solar cells market in the coming years. In terms of technology, the market is divided into gallium arsenide (GaAs), cadmium telluride (CdTe), and copper indium gallium diselenide (CIGS), among which, the demand for CdTe was the highest, in 2019.

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The division is further predicted to dominate the market during the forecast period as well, which is because of the fact CdTe is the only technology at the present time that rivals crystalline silicone PV cells in terms of power generation efficiency and cost. Moreover, other technologies are in the testing phase and are therefore aren’t being used as much. On the basis of grid type, the ultra-thin solar cells market is bifurcated into off-grid and on-grid. During the forecast period, the on-grid bifurcation is projected to account for the larger share of the market.

The increasing number of R&D activities across the globe is a key driving factor of the ultra-thin solar cells market. The devices can produce about 75% electricity as compared to the traditional PV cells of equal surface area. In addition to this, the technology has exhibited 30% energy efficiency during trials but is only 15% efficient when commercial scale is considered. Therefore, in order to overcome these limitations and to reduce the cost of ultra-thin solar cells, manufacturers are increasingly engaging in R&D activities. 

Premium end-users, such as spacecraft, automotive, and aerospace, and low-load-bearing building are expected to open up wide opportunities for the players operating in the ultra-thin solar cells market. As compared to the traditional silicone-based PV cells, ultra-thin solar cells are being considered a better option, owing to their cost-effective and environment-friendly nature. In addition to this, these devices are able to generate a high power output, considering their weight, owing to which, they are ideal for automobile batteries and other auxiliary energy storage devices and wearable sensors. 

In conclusion, the growing R&D activities and advantages of ultra-thin solar cells are driving the market. 

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Fire Extinguisher Sales Predicted to Climb in North America in Future

The increasing number of construction activities in the emerging economies is fueling the surge in the sales of fire extinguishers. In countries such as India, Indonesia, and China, huge investments are being made in the construction sector. These investments are also being made in many developed countries such as Japan, Saudi Arabia, and the U.S. With the rapid development of commercial centers, industrial plants, and smart cities, the requirement for fire extinguishers is predicted to soar in the coming years.

These regulations require the mandatory incorporation of fire safety systems such as fire extinguishers in residential, industrial, and commercial facilities. Additionally, emerging economies such as India, Brazil, and China are predicted to enact stringent fire safety policies and regulations in the forthcoming years to prevent the occurrence of fire hazards. This will massively push up the sales of fire extinguishes across the world in the future years. This will, in turn, fuel the expansion of the global fire extinguishers market in the future.

According to the forecast of P&S Intelligence, a market research firm based in India, the market value would increase from $4,487.0 million in 2017 to $6,452.3 million by 2023. Furthermore, the market is predicted to exhibit a CAGR of 6.2% between 2018 and 2023. Trolley-mounted and portable are the two main types of fire extinguishers sold across the globe. Between these, the demand for portable fire extinguishers was found to be higher in the past years.

Hence, it can be safely said that the sales of fire extinguishers would skyrocket all over the world in the upcoming years, primarily because of their growing requirement in commercial and industrial facilities and the increasing enactment of strict fire safety regulations in several countries around the world.

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Why is Construction Sector Most Significant Reason behind Power Rental Market Growth?

The power rental market is on track to growing at a CAGR of 10.3% during 2018–2023, from $9,167.6 million in 2017 to $16,855.5 million by 2023. Rented power simply refers to the electricity created from portable generators, hired on a temporary basis or purchased permanently, to supplement the grid power or act as the primary energy source in places with no grid connectivity. Another reason for the high demand for portable generators is the unpredictability of the grid supply, especially in emerging economies.

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Moreover, many coal- and crude oil-fired power plants, even in developed countries, have aged. With the surging concerns regarding environmental degradation, for which the electricity generation sector is the biggest culprit, contributing around 25% of the global greenhouse gas (GHG) emissions, as per the Environmental Protection Agency (EPA) of the U.S., efforts are being stepped up to either shut them down or convert them to gas-based ones. During the renovation period, electricity is required for machines, which is why utility companies are increasing using rented power.

Portable generators are used for supplying primary, standby, and continuous power. Primary power is required in places with no grid supply, while standby power is required during events of power cuts or other emergencies. Continuous power is similar to primary power, but in the former, the electricity can be supplied only for a preset load, and fluctuations in the load cannot be accommodated for. Among these, the highest demand for rented electricity has been for continuous purposes, especially in the mining, oil & gas, and manufacturing industries.

Geographically, the most fruitful power rental market has been the Middle East and African (MEA) region, owing to its growing construction sector, which is leading to the increasing demand for electricity to power machinery. In a bid to become independent from the effects of oil price fluctuations, several regional countries are focusing on other sectors for revenue, such as tourism and industrial. To host the rising number of tourists, many hotels, resorts, places of interest, and shopping malls are being constructed. Additionally, several global events are scheduled in the region, such as the 2020 Dubai Expo and 2022 FIFA World Cup in Qatar, for which preparations are underway.

Thus, as the number of people increase and power plants are shut down or decommissioned, the demand for portable generators will keep burgeoning.

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Surging Global Population to Fuel Revenue Growth of Global Agricultural Adjuvants Market Between 2020 and 2030

Due to the soaring investments being made in the agriculture sector, the growing requirement for food products and higher agricultural yield, and the rising requirement for agrochemicals, the global agricultural adjuvants market is predicted to grow, in valuation, from $3,106.7 million to $5,485.1 million from 2019 to 2030. The market will also progress at a CAGR of 5.5% from 2020 to 2030, according to the forecast of P&S Intelligence, a market research firm based in India.

The increasing population in several countries is massively pushing up the requirement for food items. This is, in turn, fueling the demand for higher agricultural yield. As per the United Nations Department of Economic and Social Affairs’ (UNDESA) Population Division, the total population all over the world is predicted to grow from 7.6 billion to almost 9.8 billion from 2017 to 2050, exhibiting a growth rate of 30.9% during the next 33 years. 

Because of the beneficial traits of activator adjuvants such as the ability to reduce surface tension and enhance solubilization, they are increasingly being adopted in farming processes throughout the world. Globally, the North American agricultural adjuvants market is expected to be very prosperous in the coming years, primarily because of the presence of several major agricultural adjuvant producing companies such as Clariant AG, Croda International PLC, Wilbur-Ellis Holdings Inc., Stepan Company, and Brandt Consolidated Inc. in the region.

Therefore, it is certain that the market will demonstrate huge expansion all over the world in the forthcoming years, on account of the growing requirement for higher agricultural yield and productivity, due to the surging population levels around the world.

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