Why Is Electronics Sector Utilizing UV-Curable Resins?

The rising environmental concerns have led to the burgeoning demand for eco-friendly industrial coatings. Due to this, the application of ultraviolet (UV)-curable resins has increased in the automobile, electronics, industrial, and construction sectors. Unlike traditional coatings, adhesives, and inks, products made from UV-curable resins do not release hydrocarbons containing volatile organic compounds (VOCs), which are carcinogenic and cause various other health problems. On the contrary, UV-curable products have a minimal negative impact on the environment, which is why they are finding increasing usage.

UV-curable inks are being consumed in high volumes in the electronics sector for the manufacturing of printed circuit boards (PCBs) used in the displays of mobile phones and other consumer gadgets. Additionally, the application of UV-curable adhesives in the assembly of phones and other electronic products is supplementing the demand for these resins. Due to this reason, the Ultraviolet curable resins market size will increase from $3,473.9 million in 2017 to $5,403.9 million in 2023. According to P&S Intelligence, the market will advance at a CAGR of 7.7% during forecast period.

The formulation segment of the UV curable resins market is divided into oligomers, photoinitiators, monomers, and others, which include pigments and additives. Under this segment, the oligomers division is predicted to display the fastest growth during the forecast period, as oligomers are one of the key ingredients used during the production of UV-curable resins, which are themselves primarily used to manufacture inks, coatings, and adhesives. Moreover, oligomers offer faster curing, higher gloss, and better chemical resistance in comparison to monomers and photoinitiators.

During the forecast period, the Asia-Pacific UV curable resins market will witness the fastest growth due to the spurring demand for such materials from the electronics sector, rising environmental concerns and consumer awareness, and the subsequent adoption of VOC emission norms. Within the APAC region, India, Indonesia, and China are emerging as the largest contributors to the market owing to a significant surge in the production of automobiles. Moreover, an expansion of the construction sector is amplifying the consumption of coating materials that contain these resins, thus boosting the market growth.

Thus, the environmental benefits offered by UV-curable products will lead to the adoption of the resins used to manufacture them in high volumes in the coming years.

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Why Are Nanochemicals Important in Biotechnology Sector?

Due to the increasing per capita income, which, according to the World Bank, rose to $9,290.331 in 2018 from $7,180.0791 in 2009 across the world, people are spending on luxury items, such as laptops, desktop computers, tablets, smartphones, videogame consoles, and digital cameras. As a result, the semiconductor & electronics industry is witnessing unprecedented growth. To cater to the increasing demand for advanced consumer electronics, semiconductor and computer hardware companies are bringing about technological advancements in their manufacturing process.

Citing such improvements, market research organization P&S Intelligence says that the nanochemicals market is poised for substantial growth in the years to come. As the term suggests, nanochemicals are made with nanoparticles that clean and catalyze themselves and are resistant to corrosion. Moreover, the properties of such chemicals, including how they react to temperature, pressure, and moisture, can be changed as per requirement. In the semiconductor & electronics industry, nanoparticles of titanium dioxide and zinc oxide are used widely.

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This is why nanochemicals are also finding rising application in specialty chemicals, especially those that are consumed on their own or used to make the end products used in the automotive, electronics, and cosmetics industries. Some of the most common materials containing nanochemicals are advanced polymers, additives, sealants, adhesives, and special-purpose pigments, paints, and coatings. For instance, the high-purity germanium and silicon used to manufacture electronic equipment, high-tungsten and -carbon steel used to make machine tools, and fillings used in dentistry are all being produced with nanochemicals.

In the past, North America was the largest nanochemicals market, as any new technology is mostly adopted here; then it reaches other parts of the world. Nanochemical consumption in the continent is driven by the increase in the demand for pigments and inks. The Asia-Pacific (APAC) region is projected to witness the fastest-rising consumption of nanochemicals because of the rapid shift of industrialists to nanochemicals from conventional materials. Furthermore, the growth in the electronics, construction, personal care, pharmaceuticals, and rubber industries will result in the rising usage of nanochemicals in the region.

Hence, as more applications are unearthed for nanochemicals, the demand for them will increase.

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Sales of Fire Resistant Fabrics Predicted to Shoot-Up in Asia-Pacific in Future

Fire-resistant fabrics are basically substances that are highly flame retardant, on account of their chemical composition. There are mainly two types of fire-resistant fabrics used across the world namely inherent and fire-retardant treated (FRT). The utilization of various fire-resistant chemicals makes the FRT fabrics fire-resistant. They are extensively used in several industries such as chemical, oil and gas, and electrical, where there is a high risk of fire breaking out.

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Law enforcement service uniforms and fire-fighting uniforms are the major application areas of fire-resistant fabrics. Besides these, these fabrics are also used in the transportation industry for reducing the incidence of fire hazards and in various commercial and residential furnishings. The inherent fire-resistant fabrics have fire-resistance characteristics because of their chemical structure. The rising industrialization and the increasing implementation of strict fire safety regulations in several countries are pushing up the sales of fire-resistant fabrics.

Due to the aforementioned factors, the global fire resistant fabrics market size is predicted to grow substantially in the coming years. There are primarily two types of fire-resistant fabrics used around the world- apparel fire resistant fabrics and non-apparel fire resistant fabrics. Between the two, the demand for the apparel fire resistant fabrics is predicted to skyrocket all over the world in the forthcoming years. This will be due to the implementation of strict government regulations regarding fire safety.

Geographically, the fire resistant fabrics market will register the fastest growth in the Asia-Pacific (APAC) region in the upcoming years, as per the forecast of P&S Intelligence, a market research company based in India. This will be because of the rapid developments in the chemical, oil & gas, and petrochemicals sectors. Additionally, the burgeoning utilization of fire resistant fabrics in commercial and residential furnishings is predicted to further bolster the sales of these fabrics in the coming years.

Hence, it can be said with certainty that the demand for fire resistant fabrics will skyrocket all over the world in the upcoming years, mainly because of the rising enactment of strict fire safety regulations in various countries.

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Sales of Wind Turbine Composite Materials Set to Soar in Coming Years

Due to the rising enactment of stringent environmental regulations and policies, the adoption of renewable energy sources is increasing rapidly across the world. Globally, various organizations are formulating stringent standards aimed at mitigating the emission of greenhouse gases. This is boosting the popularity of clean energy sources such as wind energy. For example, in Germany, the Renewable Energy Sources Act has resulted in the implementation of fixed feed-in tariffs (FiTs) for various power utilities that are producing renewable energy. 

Wind energy is a clean and renewable source of energy. According to reports and surveys, the cumulative installed capacity of wind power plants all over the world increased from 47.6 GW in 2004 to 369.6 GW in 2014 and this trend is likely to continue in the coming years. This is propelling the sales of wind turbine composite materials. The governments of many countries are implementing wind energy production targets for fulfilling their power requirements over the next few years.

Besides the aforementioned factors, the rising environmental degradation and global warming are also contributing toward the soaring popularity of renewable energy sources such as wind energy across the world. This is driving the progress of the global wind turbine composite materials market. There are mainly two types of wind turbine composite materials used around the world namely resin and fiber. Between these, the usage of the fiber wind turbine composite materials was found to be the highest in the past.

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The development of wind blades that deliver high power output is further boosting the demand for composite materials. Geographically, the sales of wind turbine composite materials are predicted to explode in the Middle East and Africa (MEA) region in the coming years, on account of the surging wind power production capacity of the region. The total installed wind power capacity in this region rose from 1.1 GW in 2012 to 2.5 GW in 2014.

Therefore, it can be said with full confidence that the demand for wind turbine composite materials will skyrocket all over the world in the future years, mainly because of the rising adoption of wind energy for various commercial, industrial, and residential purposes in many countries.

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Which Properties of Liquid Crystal Polymer Make It Conducive for Electronic Products?

For the production of consumer electronic devices, such as smartphones, light-emitting diode (LED) televisions, microwaves, computers, and smart watches, high-volume of liquid crystal polymers (LCPs) is used, on account of their electrical and mechanical properties. Due to the surging penetration of these products, the liquid crystal polymer market size is expected to progress at a CAGR of 5.7% during 2018–2023. According to P&S Intelligence, the market stood at $1,037.4 million in 2017 and it is projected to reach $1,447.9 million by 2023.

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In the coming years, these companies will increase the production of thermotropic LCPs, due to their high-volume consumption in the semiconductor and electronics industries. These LCPs are processed from anisotropic phases to liquid-crystal phases, thus, affecting the structure and orientation of these molecules. The end-polymer contains fiber content that infuses mechanical properties in the polymer, due to the self-reinforcing characteristics derived from macromolecular orientation in the mesophase. These properties make the LCPs ideal for producing several components of electronic devices.

Geographically, the Asia-Pacific liquid crystal polymer market is expected to consume the highest quantity of LCPs in the coming years. This can be ascribed to the presence of large-scale semiconductor manufacturing plants in countries, such as Japan, Taiwan, and China. Moreover, rapid expansion of the consumer electronics industry in Vietnam and India will intensify the consumption and production of LCPs in the region. Additionally, the booming automotive and power sectors in the APAC region will fuel the demand for LCPs during the forecast period.

Thus, the surging prevalence of consumer electronic products and the exceptional mechanical and electrical properties of LCPs will fuel their consumption worldwide.

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Why Is Cinnamaldehyde Used in Cosmetics and Personal Care Products?

Due to constant urbanization and industrialization, developing countries are witnessing economic growth. This is leading to a rise in the disposable income of people, which is permitting them to spend on luxury goods, such as personal care products. As a result, sales of essential oils, lotions, creams, and perfumes haVe risen around the world. To cope with this newfound interest in such products, major personal care and cosmetics companies are ramping up their manufacturing capacities.

According to market research firm P&S Intelligence, the growth of the cosmetics and personal care industry is set to be a key driving factor for the growth of the cinnamaldehyde market to $280.3 million in 2023 from $183.7 million in 2016, at a 6.5% CAGR between 2017 and 2023 (forecast period). This is because cinnamaldehyde, which is the major chemical contained within the essential oil extracted from the bark of the cinnamon tree, is used in the preparation of cinnamyl alcohol, which is itself used to impart the fragrance of cinnamon to an array of personal care and cosmetic products, including detergents, soaps, cleaners, deodorants, and shampoos.

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The cinnamaldehyde market, based on application, is classified into odor agent, flavoring agent, and others, the last of which includes the usage of the chemical as a fungicide, blood sugar control agent, anti-inflammatory, and corrosion inhibitor. Among these, the largest share in the market during the historical period (2013–2016) was held by the odor agent classification. This is attributed to the high-volume consumption of cinnamaldehyde in the personal care and cosmetics sector to impart the fragrance of cinnamon to an array of products, as it displays an appreciable mixing ability with other volatile solvents.

Till 2023, the Asia-Pacific region is projected to continue dominating the cinnamaldehyde market, on account of its vast population, which is driving the demand for cosmetics and personal care products.

Hence, with an increase in the application areas of cinnamaldehyde, it is set to continue witnessing a rising demand from around the world.

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Biodegradable Mulch Film: Eco-Friendly Alternative to Conventional Mulch Film

The implementation of favorable government regulations regarding organic mulching in several countries is propelling the global demand for biodegradable mulch film. According to the standards set for degradation to compost (ISO 17088, ASTM D6400), as much as 90% of the organic carbon must be converted to CO2. This severely limits the utilization of the inorganic mulching method. The rising public awareness about the negative effects of the inorganic mulching method is also fueling the adoption of biodegradable mulch film.

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Inorganic mulching materials are mainly made from petroleum-based plastics such as non-compostable polyethylene. The disposal of these materials massively affects the environment as well as the human health. This is why the usage of organic mulch film materials that are made from animals and plants, is rising rapidly around the world. These materials are highly biodegradable in nature and thus, have no harmful effects for the environment. Moreover, they help improve the soil fertility.

This will cause the rapid expansion of the global biodegradable mulch film market. Depending on raw material, the market is divided into starch, polylactic acid (PLA), and polyhydroxyalkanoate (PHA) categories. Out of these, the starch category recorded the highest growth in the market in the past years and this trend is likely to continue in the coming years as well. This will be because of the high compatibility of this material with various soil types.

Apart from the aforementioned factor, the low cost of raw materials and the high biodegradability of the material will also contribute toward its soaring popularity in the forthcoming years. When crop type is taken into consideration, the biodegradable mulch film market is categorized into fruits and vegetables, grains and oilseeds, and flowers and plants. Out of these, the fruits and vegetables category is predicted to exhibit the fastest growth in the market in the future years.

Hence, it can be said with surety that the demand for biodegradable mulch film will soar all over the world in the forthcoming years, mainly because of the rising requirement for environment-friendly mulching technique and the increasing implementation of favorable government regulations regarding the usage of organic mulching in various countries around the world.

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Huge Jump Expected in Extrusion Coating Sales in Coming Years

The expansion of the food and beverage industry is one of the major factors pushing up the requirement for extrusion coatings across the world. Due to the surging population of geriatric people, the increasing disposable income of people, and the rising public awareness about health and fitness, the demand for sugar-free, low-calorie, lactose-free, and gluten-free food items is rising sharply. This is boosting the requirement for extrusion coatings across the globe.

According to the International Trade Administration (ITA), the healthcare industry in India was valued at $110 billion in 2016 and this valuation is predicted to grow to $280 billion by 2020, because of the rising demand for medical services and products in the country. This will create a sharp surge in the sales of extrusion coatings in the country in the forthcoming years.   Due to these factors, the global extrusion coatings market is set for lucrative growth in the future.

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Geographically, the sales of extrusion coatings will boom in the European and Asia-Pacific regions in the upcoming years, as per the estimates of P&S Intelligence, a market research company based in India. This will be due to the soaring utilization of paper-based containers and liquid cartons in the food and beverage industry. The increasing disposable income of people and the rapid price deflation are also contributing toward the booming sales of extrusion coatings in these regions.

Hence, it can be said with full confidence that the demand for extrusion coatings will soar all over the world in the upcoming years, primarily because of the expansion of the food and beverage industry and the rising requirement for these materials in this industry.

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Why is Global Demand for Alpha Olefins Skyrocketing?

Due to the rising usage of polyolefin comonomers in the production of various specialty chemicals, the demand for alpha olefins is growing rapidly across the world. This compound is extensively used as a raw material in the production of oilfield chemicals, plasticizers, lubricants, surfactants, and plastomers. For instance, ethylene alpha-olefin copolymers are also called plastomers and are made from the process of polymerization. These materials have hybrid characteristics of plastics and elastomers.

Chlorinated C20-C24 compounds can be heavily used along with various primary plasticizers for improving polyvinyl chloride’s (PVC’s) plasticity. The adoption of plasticizers made from alpha olefins improves the durability and flexibility of plastic materials. Flexible polyvinyl chloride has applications in several industries such as flow-control equipment, medical devices, automotive, and packaging. This is predicted to create growth opportunities for the companies producing alpha olefins across the world. Due to these reasons, the global alpha olefins market is recording huge growth.

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Geographically, the alpha olefins market registered the highest growth in North America in the past years. This was because of the huge requirement for the compound in various industries such as automotive, plastics, and construction. Moreover, the region is the world’s biggest consumer and producer of the compound. The rising production capacity and the growing usage of plastic in the regional countries are propelling the demand for alpha olefins in the region. 

Hence, it is safe to say that the demand for alpha olefins will grow tremendously in the coming years, on account of the rising usage of the compound in plasticizer and specialty chemical production across the world.

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Why Are Industries Rapidly Installing Control Valves?

Anywhere there are pipes, there will be control valves to increase or decrease the flow of the liquid or gas being transported. Thus, in essence, a simple domestic-use water tap is a control valve, since it regulates the flow of water. However, industries utilize specialized control valves, since how much liquid or gas is flowing through a channel is absolutely vital here. Thus, with the growth in various industries around the world, the demand for these simple yet advanced components is only going to increase.

P&S Intelligence cites the expansion of industries, especially the oil and gas sector, to predict a steady 6.3% growth for the control valves market during 2018–2023. At this rate, the sale of such simple machines will be worth $16,057.5 million in 2023, compared to $11,137.0 million in 2017. Since the oil and gas sector deals with fluids and gases all day long, it requires a vast number of valves. Be it oil wells, pipelines that take the commodity to and from the refinery, or those massive ultra-large crude carrier (ULCC)-grade merchant vessels that ferry oil around the world, almost all upstream, midstream, and downstream oil and gas processes depend on control valves.

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The demand for electricity and automotive fuels is growing on account of the booming population. Since oil and gas, along with coal, still occupy a substantial share in the global energy mix, 67%, combined, in 2017, as per the International Energy Agency (IEA), exploration and production (E&P) activities continue to surge, though at a slower pace than 10–15 years ago. Till the world transitions completely to a hydrocarbon-free economy, oil and gas E&P activities can be expected to rise. Apart from on land, a large number of oil wells are being dug into the ocean floor, which is ultimately driving the demand for control valves.

Till now, Asia-Pacific (APAC) has been the largest control valves market, as it is the largest region in terms of industrial output. Additionally, the rapid economic growth in India, China, and other regional developing countries, rising demand for electricity, and large-scale infrastructure development here are leading to the increasing requirement for control valves. Another important end-use industry for control valves in the region is water and wastewater management. With the high levels of water pollution, new sewage and industrial effluent plants are being constructed, thereby pushing up the sales of control valves.

Hence, with growth in industries, the demand for control valves will keep rising.

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Flocculants and Coagulants Improving Wastewater Treatment Processes

The flocculants and coagulants market will increase from $10,270.2 million in 2017 to $14,225.3 million by 2023. Population growth leads to rapid urbanization and industrialization, which generate pollutants that contaminate water. This causes several waterborne diseases, which lead to an increase in water treatment processes that require significant use of flocculants and coagulants.

The application segment of the flocculants and coagulants market is categorized into the water and wastewater treatment, mineral and extraction, oil and gas, pulp and paper, and others that include agriculture and medical. Among these, the water and wastewater treatment category held the largest market share in 2017, due to the growth in demand for these chemicals from municipalities to treat water and strict government regulations regarding the consumption of water for public health. Owing to these reasons, the category is also expected to display the fastest growth in the forecast period.

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According to P&S Intelligence, the Asia-Pacific nations consumed the highest volume of flocculants and coagulants in 2017. Furthermore, the region is expected to generate high demand for these substances from the expanding chemical industries. Additionally, rapid economic growth and urbanization are augmenting the demand for clean water that is obtained after being processed in water treatment plants. Thus, these plants deploy large quantities of flocculants and coagulants to treat water. Moreover, these chemicals also find a widespread application in the metal, food and beverage, and oil and gas industries in APAC.

Thus, the growing awareness regarding water pollution and soaring demand for clean water, on account of urbanization and economic growth, will add to the consumption of flocculants and coagulants in coming years.

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Why is Popularity of 3D Printing Filaments Growing in Manufacturing Sector?

With the increasing requirement for the mass customization of various products, the global 3D printing filaments market size is expected to witness a monumental 26.8% rise in its revenue during 2020 and 2030. At this CAGR, the market will grow from $693.1 million in 2019 to $7,082.0 million by 2030. As mass customization adds value to the goods produced and makes the consumers’ experience better, the adoption of this concept is increasing.

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The increasing usage of mass customization drives the 3D printing filaments market, as the adoption of this technique in the process is rising. With 3D printing, products can be customized without additional costs, as the technique eliminates the requirement for separate tooling and molds. Only the 3D file of the product needs to be updated and the data fed to the 3D printer, to create a single or multiple part at the same cost.

The largest 3D printing filaments market is currently North America, as it was the first region to embrace this technology. Now, organizations offering automobile parts, aircraft components, and artificial human organs have started strengthening their traditional manufacturing process with 3D printing. Moreover, the presence of key 3D printing filament providers, such as Stratasys Ltd., DuPont de Nemours Inc., Huntsman Corporation, and 3D Systems Corporation, has also boosted the market in the region. In the years to come, Asia-Pacific (APAC) is projected to be the fastest-growing market for such filaments, owing to the increasing digital manufacturing of automobile parts, industrial tools, medical prototypes, and agricultural machinery.

Partnerships Being Initiated by Players for Greater Growth Potential

In order to make the most of the rapidly growing 3D printing filaments market, companies operating in the industry are entering into partnerships, with the idea of:

• Expanding their reach in Australia and New Zealand

• Offering thermoplastic 3D printing filaments to aircraft part manufacturers

• Securing suppliers for their high-performance polymers, for use in fused deposition modelling (FDM) 3D printing

• Securing customers in the automobile component producing sector

• Providing customers easy ordering and support for their 3D printing filaments

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Volatile Organic Compound (VOC) Awareness Driving Demand for Acrylic Products

With the global population set to touch 10.9 billion by 2100, as per the United Nations (UN), construction is in full swing. Governments, as well as private companies, are pouring millions to build houses, road, air, and rail networks, commercial spaces, and factories. This has been driving the demand for paints and coatings, as they are used to make the built infrastructure appealing to the eye and protect it against the forces of nature.

As per P&S Intelligence, the rising consumption of paints and coatings will propel the acrylates market at a 4.9% CAGR during the forecast period, at which rate the industry size would increase from $10,949.9 million in 2018 to $12,593.8 million by 2024. Acrylates are esters, salts, and conjugate bases formed by the esterification of alcohol and acrylic acid. These compounds are being preferred in paints and coatings because of their durability, stability under extreme climatic conditions, and volatile organic compound (VOC)-free nature.

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The categories under the type segment of the acrylates market are 2-ethylhexyl acrylate, butyl acrylate, methyl acrylate, and ethyl acrylate. Among these, the largest share in 2018 was held by the butyl acrylate category, owing to its resistance to sunlight and stability at low temperatures. This is why this compound is widely consumed in latex paint formulations that have acrylic polymers. As a result, butyl acrylate is also predicted to witness the fastest growth in the market during the forecast period, in terms of value.

Therefore, as the demand for infrastructure and automobiles increases, the usage of acrylates will rise as well.

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Demand for Bromine Highest in Asia-Pacific

Mercury emissions across the globe have been increasing rapidly across the globe, the major reason for which is the surging utilization of fossil fuels for generating energy. While mercury occurs naturally on earth, it is harmful to human health, particularly to children and pregnant women, in the form of emissions. In addition to this, capturing mercury emissions is hard, owing to which the demand for bromine is increasing. Bromine aids in breaking up mercury molecules, which makes it easier to capture the molecules through emission control equipment. 

Another reason which is resulting in the growth of the bromine market is the surging consumption of clear brine fluids in the oil & gas drilling. This is owing to the ability of clear brine fluids to decrease the bottom-hole pressure and temperature in the well bores. A number of soluble salts are added to these fluids in a specific concentration after considering densities, freeze points, clarity, and pressure/temperature. Brine display enhanced wellbore stability in the salt, less fine-hole gauge, fast shale penetration rates, and formation damage. In addition to this, the initial cost of setting up the casing for the mud for drilling is reduced with the utilization of brine.

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The global bromine market reached a value of $1,864.3 million in 2019, and is expected to register a 5.7% CAGR during 2020–2030. The market is divided into organobromide, hydrogen bromide, and bromide salts, among which, the organobromide division accounted for the major share of the market in 2019. This can be ascribed to the surging consumption of these derivatives, such as ethylene dibromide, styrene bromide, allyl bromide, vinyl bromide, and propylene bromide, for the production of flame retardants, pesticides, intermediates for gasoline antiknock agents, fumigants, and organic synthesis, and catalysts. The bromide salts division is projected to progress at the fastest pace during the forecast period.    

As per a report by P&S Intelligence, the Asia-Pacific region dominated the bromine market during the historical period (2014–2019), which is attributed to the high consumption and production of bromine derivatives in China. The country has naturally occurring bromine in abundance, along with high number of consumers and cost-effective labor, because of which, various enterprises from outside are setting up their manufacturing plants in the country. Moreover, as the disposable income of people in the region is rising, the demand for different bromine-based products is growing as well. 

Hence, the demand for bromine is rising due to the surging mercury emissions, growing consumption of clear brine fluids, and increasing adoption of bromine-based storage technology grids.

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Polyester Hot Melt Adhesives Market Predicted to Boom in Asia-Pacific in Future

The global polyester hot melt adhesives market reached a valuation of $473,057.2 thousand in 2019 and is predicted to generate a revenue of $717,152.6 thousand by 2030. According to the market research firm, P&S Intelligence, the market will exhibit a CAGR of 5.3% between 2020 and 2030. The factors driving the progress of the market are the surging usage of polyester hot melt adhesives in the packaging industry and the growing requirement for these materials in the automotive industry.

Depending on application, the polyester hot melt adhesives market is divided into packaging, industrial assembly, heat seal coating, electrical and electronic component manufacturing, and textile lamination. Out of these, the industrial assembly category is predicted to register the highest growth in the market in the forthcoming years. Many industrial manufacturing companies are increasingly preferring using these adhesives over the conventional mechanical fasteners, on account of their ability to reduce the overall weight of machines, automobile vehicles, and equipment.

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Globally, the polyester hot melt adhesives market is predicted to demonstrate the fastest growth in Asia-Pacific (APAC) in the coming years. This will be a result of the surging investments being made in the developing countries such as India, Thailand, China, and Vietnam. Furthermore, China is a major manufacturing center and one of the world’s largest exporters of electrical and electronic parts and components. The growth of the packaging industry is further boosting the market advancement in the country. 

Hence, it is quite clear that the market is set for lucrative growth across the world in the upcoming years, primarily because of the increasing usage of polyester hot melt adhesives in the automotive and packaging industries and the explosive growth of these industries all over the world.

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Global Sorbic Acid Market is Projected to Witness 4.7% CAGR During 2020-2030

Economic growth is leading to the increasing spending power of people, which is driving a shift in worldwide food consumption patterns. As a result, the sale of cheeses, wines, fresh produce, baked products, and refrigerated meats is rising. This is why the global sorbic acid market is predicted to grow from $347,661.0 thousand in 2019 to $521,126.7 thousand in 2030, at a 4.7% CAGR between 2020 and 2030.

In the years to come, the faster growth in the sorbic acid market, on the basis of form, will be witnessed by the encapsulated bifurcation. The acid in this form can be directly mixed in food products while they are still in the dough stage. When used for baked goods, sorbic acid offers the advantage of not killing the yeast, which is important for the dough and the baked product to rise and become fluffy.

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The food & beverages category held the largest share in the sorbic acid market in the past, based on application, as the compound is widely used in this industry to kill contaminating bacteria. This is why sorbic acid is added in substantial volumes to dried fruits, cheeses, pet foods, yogurt, soft drinks, dried meats, and baked goods to increase their shelf life.

Till now, Asia-Pacific (APAC) has been the largest sorbic acid market, and it is also expected to observe the fastest rise in the usage of this compound in the coming years. The growing food & beverages and pharmaceutical industries in Japan, China, India, South Korea, and Australia are leading to the increasing demand for sorbic acid. Moreover, as people in these countries prosper, the consumption of processed food will rise, thereby driving the market.

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Demand for Consumer Goods Fueling Pressure Sensitive Adhesives Market Growth

The pressure sensitive adhesives market is projected to register a CAGR of 4.0% during the forecast period (2019–2024). At this rate, the revenue generated by the industry players will increase from $7,414.0 million in 2018 to $9,351.8 million in 2024. This is because manufacturers and vendors of all the aforementioned end-products are using pressure-sensitive adhesives for packaging.

Leading pressure sensitive adhesives market players, such as Avery Dennison Corp., H.B. Fuller Co., Arkema Group, Ashland Inc., The Dow Chemical Company, TOYOCHEM CO. LTD., Pidilite Industries Ltd., Jowat SE, Exxon Mobil Corporation, Franklin Adhesives & Polymers, and 3M Company, are adopting mergers and acquisitions, product launches, and joint ventures to increase their geographical footprint with novel products. For example, 3M Company announced the addition of the 3M Extended Wear Medical Transfer Adhesive 4075 to its product portfolio of advanced medical device adhesives in 2019.

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The categories under the formulation segment of the pressure sensitive adhesives market include rubber, acrylate, silicone, and others. During the forecast period, the silicone category is projected to display the fastest growth due to the escalating demand for health and hygiene products. Silicone-based adhesives are used in high volumes in sanitary napkins, medical tapes, and baby diapers. This is due to the higher durability and greater water resistance offered by silicone-based adhesives in comparison to rubber and acrylic adhesives.

Geographically, the Asia-Pacific region registered the highest usage of pressure-sensitive adhesives in the past, and this trend is predicted to continue during the forecast period. This is primarily attributed to the thriving electronics, packaging, automotive, and construction industries in the region. In addition to this, the flourishing electronics manufacturing industry in Japan, South Korea, and China and the large-scale consumption of FMCG products in China and India will create a huge demand for such materials in the region in the coming years.

Thus, the expansion of the e-commerce sector and strategic developments by chemical companies will propel the market growth in the foreseeable future.

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Application of Corrugated Packaging Material Widening in End-Use Industries

Factors such as a shift toward online shopping, expansion of e-commerce and courier service sectors, and rapid urbanization will accelerate the growth of the corrugated packaging market, at 3.7% CAGR, during the forecast period. Additionally, increasing preference for sustainable packaging solutions and cost-effective packaging materials support the market growth. Also, governments across the world are motivating the use of these materials for sustainable development. Owing to these factors, the value of the market is expected to increase from $237.5 billion in 2017 to $294.3 billion by 2023. 

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Corrugated packaging is one of the most affordable and convenient modes of packaging for the e-commerce sector, due to its lightweight and low cost. Adoption of the packaging materials assists in easy and convenient delivery of the goods to customer's door-step. This has prompted players in the corrugated packaging market, such as DS Smith PLC, Nine Dragons Paper (Holdings) Limited, Oji Holdings Corporation, Georgia-Pacific Equity Holdings LLC, Packaging Corporation of America, International Paper Company, Mondi Group, Lee & Man Paper Manufacturing Ltd., and WestRock Company, to increase their production considerably.

Globally, the Asia-Pacific (APAC) region consumed the highest quantity of corrugated packaging materials in 2017, due to the rising Western influence and increasing consumption of retail ready-to-eat food. The adoption of durable and non-durable goods has surged in the region, owing to the changing lifestyle pattern and rapid urbanization. Furthermore, the escalating consumption of processed foods, especially in emerging nations such as Indonesia, India, and China, is one of the prime reasons behind the widescale application of the packaging solution in these countries.

Thus, the spurring demand for electronics and processed food will propel the utilization of corrugated packaging materials in the foreseeable future.

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Booming Construction Industry Fueling Sales of Construction Glass

With the expansion of the construction industry, the demand for construction glass is growing rapidly across the globe. Construction glass is increasingly being used as a substitute in most of the construction materials such as wood, polycarbonate, and bricks. This is because of their ability to increase the natural light influx in buildings and promote environmental sustainability. In addition to this, rapid advancements and innovations in glass manufacturing methods are fueling the manufacturing of lightweight and strong glass.

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Besides the aforementioned factors, the rising demand for eco-friendly construction materials, technological advancements, energy savings, the surging disposable income of the middle-class populace, and the burgeoning requirement for sustainable construction are also propelling the sales of construction glass across the world. This is driving the progress of the global construction glass market. Residential and commercial sectors are the major application areas of construction glass. Between these, the usage of construction glass was higher in the commercial sector in the past.

Rapid expansion of the infrastructure sector in several other regions such as Middle East and Africa and South America is predicted to create lucrative growth opportunities for the players operating in the construction industry in the coming years. This will, in turn, propel the sales of construction glass in these regions. PPG Industries, Asahi Glass, Saint-Gobain S.A., Nippon Sheet Glass Co. Ltd., Schott AG, and Central Glass Co. Ltd. are some of the major construction glass manufacturers around the world.

Hence, it is safe to say that the sales of construction glass will soar all over the world in the forthcoming years, mainly because of the expansion of the construction industry in several countries.

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How Is Increasing Solar Power Capacity Driving Demand for Conductive Polymers?

“Power generation from solar PV is estimated to have increased by 22% in 2019, to 720 TWh.”, the International Energy Agency (IEA) says. Moreover, in 2019, solar power became the third-leading renewable source of electricity after hydropower and onshore wind power, overtaking bioenergy. Such growth is a result of the continuous government support around the world for producing clean energy, so that a complete shift can be made away from fossil fuels, such as crude oil, coal, and natural gas, due to their polluting nature.

P&S Intelligence says that the increase in the solar power generation capacity will be a key factor behind the growth of the conductive polymers market from $4,441.7 million in 2017 to $7,341.2 million by 2023, at an 8.7% CAGR during 2018–2023. Conductive polymers are organic polymeric materials that display electricity conduction or semiconduction properties. This is why organic solar cells are used in photovoltaic panels to create electricity from the ultraviolet (UV) radiation of the sun. Thus, as more solar panels are bought by utility companies, the demand for conductive polymers will keep surging.

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As most of the applications of these materials are in the research and development (R&D) phase, North America is the most-productive conductive polymers market presently. In the years to come, the usage of these materials will likely increase sharply in Asia-Pacific (APAC), especially in capacitors, textiles, actuators, batteries, display devices, and sensors. Conductive polymers are also being used to manufacture electrostatic coatings for windowpanes and door panels. In addition, the growing electronics and automotive sectors in the region are propelling the consumption of these materials.

Hence, with the extensive R&D leading to a widening application base, the demand for conductive polymers will rise further.

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UV-Cured Digital Inks: Environmentally Viable

Digital inks are utilized to print digital images on packaging materials, newspapers, textiles, and industrial products. In recent years, the application of these inks has increased significantly, as these inks take less time for on-demand printing, thereby, reducing the cost of printing. Moreover, digital printing does not need replacement of printing plates, unlike traditional methods like lithography, gravure, letterpress, and flexography. Owing to these advantages, the adoption of these inks has surged in sectors like packaging, publication, textiles, and industrial.

Owing to these reasons, the digital inks market size is projected to exhibit a CAGR of 5.4% during 2017–2023. According to P&S Intelligence, the market was valued at $1,147.4 million in 2016, due to the expansion in the packaging industry and technological advancement in the publication sector. The packaging industry is growing due to the spurring demand for packaged food items and escalating gross domestic product (GDP) of several countries. Moreover, the increasing focus on the digitalization of books will augment the demand for digital inks in future.

In recent years, application of ultraviolet (UV)-cured inks has increased significantly, as they offer advantages such as enhanced durability, optimum-print quality, and high-curing speed. These inks coupled with flexible ink films have minimum volatile organic compound (VOC) levels and offer enhanced resistance to scratches and wear and tear. Owing to these benefits, UV-cured inks are being adopted in sectors like food and pharmaceutical packaging and printing and publication. Moreover, these inks consume less energy, have high durability, and lead to zero ozone generation that will add to their popularity in future.

Thus, the benefits offered by digital printing over traditional printing will boost the adoption of digital inks in foreseeable future. 

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Global Electroceramics Market Share, Leading Players and Future Analysis

The electroceramics market size is expected to display a CAGR of 5.9% during 2018–2023. At this rate, the size of the market is projected to increase from $8,590.9 million in 2017 to $12,084.4 million by 2023.

The growth of the market can be attributed to the developments in the semiconductor and electronics sector. Electroceramics are used in high volume for the production of semiconductors and electronic devices, such as data storage devices, power distribution devices, capacitors, actuators, and sensors. These devices are being widely used because of their ability to optimize size and space constraints and maintain technological feasibility and economic viability in final products like smartphones, computers, laptops, and other consumer appliances.

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The Asia-Pacific region is expected to showcase the fast-paced consumption of electroceramics in future. This can be ascribed to the increasing consumption of these materials in manufacturing of automobile and consumer electronics in APAC nations, such as Taiwan, India, Japan, South Korea, and China, which serve as the regional hubs for the production of electronic goods. Among these countries, China generates the maximum demand for electroceramics because the country is the production hub for information and communications technology (ICT) goods that employ large quantities of capacitors and data storage devices.

Thus, the expanding electrical and electronics sector and the increasing expenditure on the healthcare sector are expected to employ high volume of electroceramics in coming years.

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North America To Have Most Net Zero Energy Buildings in Future

The global net-zero energy buildings market is set to grow to $2,106.6 million by 2024 from $896.6 million in 2018, at a substantial CAGR, of 15.6%, between 2019 and 2024. There are two major ideas central to NZEBs: one, they must consume as little electricity as possible, and two, they must only consume energy that they produce themselves, so that their net electricity consumption is nil.

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Government bodies around the world are mandating that as many NZEBs as possible are constructed, in order to save the environment from deterioration. For instance, the California Long-Term Energy Efficiency Strategy Plan of the California Public Utilities Commission (CPUC) aims to ensure that only NZEBs are constructed in the state 2030 onward. In this regard, all residential buildings being built 2020 onward must be NZEBs, while all commercial buildings being built 2030 onward must be NZEBs.

Currently, North America dominates the net zero energy buildings market, due to the stringent emission reduction targets in the U.S. and Canada. Being developed countries, the U.S. and Canada account for considerably higher carbon emissions than developing countries, which is the need for reducing energy consumption is among the strongest here. Following it is Europe, which, together with North America, holds almost the entire market share, because Europe too is majorly developed, therefore accounts for high GHG emissions.

Hence, as GHG emissions soar, the demand for constructing NZEBs will rise, which will lead to an increase in the requirement for all the components that go into them.

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Boom Expected in Global Low Strength Proppants Market During 2020—2030

The increasing technological investments being made in the various Asia-Pacific and North American countries for encouraging the exploration of oil and gas reserves are massively boosting the growth of the low strength proppants market across the world. In addition to this, the increasing number of projects pertaining to energy production, being launched, especially in the U.S., is expected to cause rapid technological developments that would ensure huge business growth and subsequently increase the utilization of low strength proppants, which will in turn, cause huge expansion of the low strength proppants market in the country in future.

The low strength proppants market size is expected to register a CAGR of 9.8% during 2020-2030. Low strength proppants are used in crude oil, shale gas, and coal-bed methane. Amongst these, the crude oil category recorded the highest share in the low strength proppants market in 2019, due to the large-scale consumption of crude oil and the existence of numerous unconventional oil reserves throughout the world.

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As per the International Association of Energy Economics, the unconventional oil production is predicted to account for 3.0% of the total crude oil production in the world in 2020. Furthermore, the total volume of the unconventional oil production is predicted to rise from 3.05 million barrels every day to 3.75 million barrels each day from 2020 to 2030. Owing to these reasons, crude oil is predicted to hold a huge share in the low strength proppants market in the coming years.

Hence, it is clear that the demand for low strength proppants will skyrocket all over the world in the coming years, mainly because of the increasing oil and gas production and exploration activities across the globe and the soaring requirement of these materials in the oil and gas industry.

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