Chemical and Power Industry Trends

Why Are South Africa Charcoal Briquettes Market Players Prospering?

The major factors aiding in the growth of the South African charcoal briquettes market are the country’s rich barbecue culture and the low cost of such fuel. As a result, the revenue generated from the sale of such products is projected to display an 8.8% CAGR during the forecast period, to reach $286.7 million by 2030 from $136.0 million in 2019. Charcoal is produced by heating wood without oxygen, to remove all the volatile constituents and water from it.

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Based on type, the South African charcoal briquettes market is categorized into round, hexagonal, oval/pillow, coconut shell, and others, which includes shisha, hookah, and octagonal charcoal briquettes. Among these, the oval/pillow category held the largest share during the historical period (2014–2019) due to the fact that these products are mostly produced within South Africa. Moreover, market players find this shape easier to create than others. In addition, this shape has even granularity and good clot state strength, which is why it is used as a sinter in blast furnaces.

Apart from the aforementioned factors, the reducing prices of the charcoal briquettes are also positively impacting the growth of the South African charcoal briquettes market. People living and working there prefer these materials for cooking over other cooking fuels such as kerosene and liquified petroleum gas (LPG), because of their lower prices. As charcoal briquettes are made using various leftover materials (leftover powder after charcoal production), they cost lesser and are more affordable than the traditionally used cooking fuels.

Out of these, the barbecue category recorded the highest growth in the South African charcoal briquettes market in the past and this trend is likely to continue in the forthcoming years as well, primarily because of the surging tourism activities and the increasing number of international travelers in the country. Tourists come here for experiencing the country’s rich culture, soul-satisfying cuisines, and scenic landscapes. According to South African Tourism, 29.0 million overnight trips were recorded in the country in 2019.

Hence, it can be safely concluded that the demand for charcoal briquettes would surge in South Africa in the upcoming years, mainly because of the ballooning popularity of barbecued food items in the country.

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Soaring Sales of Electrical and Electronics Goods Pushing Up Demand for Polytetrafluoroethylene

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.

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 (PTFE) 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. 

Furthermore, the market will exhibit a CAGR of 5.0% between 2020 and 2030, as per the forecast of P&S Intelligence, a market research firm based in India. Powder, granules, and aqueous dispersion are the most commonly used variants of PTFE across the world. Amongst these, the sales of the granular variants were the highest in the past, on account of the fact that it is harder to mix solids with powder PTFE to obtain a uniform blend than granular PTFE.

In addition to the above-mentioned factor, the granular variants are cheaper than the fine powder PTFE and are ideal for compression molding, which is necessary for producing tubes, sheets, and rods. Across the globe, the Asia-Pacific (APAC) PTFE market was the most lucrative one in the years gone by. In the coming years, this market will demonstrate the fastest growth in the world. Globally, the sales of PTFE are predicted to be significantly high in Europe in the forthcoming years.

Thus, it can be said without any doubt that the sales of PTFE will shoot-up across the world in the forthcoming years, primarily because of the rising requirement for PTFE coatings in the automotive industry, the surging sales of electrical and electronics products, and the booming industrial sector all over the world.

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Advantageous Properties of Structural Adhesives Driving their Demand in Automotive Industry

The soaring infrastructural development and construction activities in several countries is one of the major factors fueling the demand for structural adhesives across the globe. Structural adhesives are basically defined as the adhesives that are used for bonding joints and are capable of holding multiple substrates together under varying degrees of stress. These adhesives are widely used for repairing various infrastructural applications such as those pertaining to roads, railways, and bridges, mainly because of their high resistance toward temperature, chemical, and weather, and high strength.

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The major factors responsible for the surging infrastructural development activities are the growing population levels and urbanization in several countries around the world. Additionally, the increasing migration of people from rural areas to cities and towns has caused a sharp surge in the construction of commercial and residential buildings, which has, in turn, boosted the requirement of structural adhesives all over the globe. Besides these factors, the burgeoning usage of structural adhesives in the transportation industry is also contributing toward their soaring popularity throughout the globe.

Apart from the above-mentioned factors, the ballooning usage of these adhesives in the electrical and electronics sector, especially in various electrical systems and devices such as junction boxes, transformers, and transmission towers and in the footwear industry is also causing a sharp spike in the sales of these adhesives around the world. As a result, the global structural adhesives market generated a revenue of $11,677.9 million in 2018 and is expected to attain a value of $15,683.0 million in 2024. The market is also predicted to advance at a CAGR of 5.2% between 2019 and 2024.

Across the globe, the structural adhesives market registered the highest growth in the Asia-Pacific (APAC) region over the last few years and this trend is likely to continue in the forthcoming years as well, according to the estimates of the market research company, P&S Intelligence. This is primarily ascribed to the huge investments being made in various infrastructural development projects in the APAC nations and the subsequent surge in construction and infrastructural development activities in the region. China is predicted to observe the highest usage of these adhesives in the APAC region in the future years.

Therefore, it can be said with surety that the demand for structural adhesives will increase tremendously all over the world in the years to come, mainly because of their mushrooming requirement in the construction, automotive, footwear, and electrical and electronics industries across the world.

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How are Increasing Mercury Emissions Driving Demand for Bromine?

The global bromine market attained a valuation of $1,864.3 million in 2019 and will progress at a CAGR of 5.7% between 2020 and 2030, as per the estimates of P&S Intelligence, a market research firm based in India. The main factors fueling the expansion of the market are the rising utilization of bromine compounds for reducing mercury emissions, increasing usage of clear brine fluids in oil and gas drilling activities, and the growing demand for environment-friendly polymeric flame retardants.

Based on derivative, the market for bromine is categorized into bromide salts, hydrogen bromide, and organobromide. Out of these, the bromide salts category will register the fastest growth in the market in the future, mainly on account of the growing usage of these materials in clear brine fluid production. The increasing oil and gas exploration and production (E&P) activities are pushing up the demand for clear brine fluids, which is, in turn, fueling the rapid growth of the bromide salts category.

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The market is also divided, based on application, into flame retardants, clear brine fluids, water treatment, and pharmaceuticals categories. Amongst these, the flame retardants division recorded the highest growth in the market in the past, due to the large-scale usage of various bromine compounds such as allyl bromide, ammonium bromide, vinyl bromide, and ethyl bromide in fire extinguishers and retardants. Besides helping greatly in putting out fires, these chemicals also make the products that contain them considerably less flammable.

Globally, the Asia-Pacific bromine market would be the most prosperous one in the forthcoming years. This is credited to the increasing urban population and the surging sales of electronic products, insulation, and plastics in Japan, China, India, Thailand, and South Korea, due to the soaring disposable income of the people residing in these countries. As the bromine-based flame retardants are heavily used in these items, the growing sales of these products are boosting the market growth in the region.

Hence, it can be said without any hesitation that the market would exhibit rapid expansion all over the world in the upcoming years, primarily because of the soaring usage of clear brine fluids in oil and gas E&P activities and the surging utilization of bromine compounds in flame retardants and fire extinguishers.

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Retail E-Commerce Packaging Market Growing Because of Expanding E-Commerce Industry

The customer purchasing behavior has changed radically over the past few years. With the emergence of hassle-free home delivery and a wide range of products on e-commerce platforms, the penchant for online shopping has increased considerably all over the globe. Moreover, the increasing disposable income and growing penetration of internet have also made things easy for people, owing to which, they are widely shifting from retail stores to online channel, thereby leading to the growth of the global e-commerce industry.

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The companies in the domain are further making changes and are investing in manufacturing facilities for reducing the amount of waste, which is generated by corrugated sheets, and for increasing their production efficiency. Further, the pressure on the industry for reducing pollution is incredibly high, which is further compelling companies to focus on alternate ways for producing packaging materials. Some companies have already started complying and are manufacturing compostable, recyclable, and reusable products. 

The market for retail e-commerce packaging is expected to generate a revenue of $68,388.1 million by 2030, increasing from $19,022.7 million in 2019, progressing at a 12.1% CAGR during 2020–2030. When material type is taken into consideration, the market is divided into envelopes and boxes, between which, the boxes division held the larger share of the market in 2019. The division is further predicted to dominate the market during the forecast period, as companies go for packaging that can protect the contents. 

As per a report by P&S Intelligence, the Asia-Pacific region dominated the retail e-commerce packaging market during the historical period (2014–2019). The expanding e-commerce industry in China and India are leading to the growth of the regional domain. Additionally, the surging population and rising adoption of advanced technologies in APAC are leading to the growth of the market. Middle East & Africa is expected to grow at the fastest pace during the forecast period, owing to expanding international trade. 

Hence, the market is growing due to the growing preference of online shopping and rising burden on companies to reduce pollution. 

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Why are Green Buildings Predicted to Drive Demand for Thermal Energy Storage?

The demand for energy is increasing with each passing day and such is going to be the case in the foreseeable future as well. These days, the lives of human being are highly dependent on electricity, so much so that the conduction of daily activities will be quite impossible without it. In addition to this, the population across the globe is increasing at rapid pace and is bound to create additional demand for energy in the years to come.

Owing to these factors, the global market for thermal energy storage is projected to grow at a considerable pace in the coming years. The demand for thermal energy storage is predicted to rise further due to the rising shift towards eco-friendly buildings, which are also known as green buildings. These building have very low carbon footprint and widely utilize energy storage technologies for generating power. The increasing construction of such building will drive the demand for thermal energy storage in the coming years.

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In 2017, the thermal energy storage market reached a value of $3,000.9 million, which is expected to rise to $7,472.9 million by 2023, progressing at a 15.9% CAGR during the forecast period (2018–2023). On the basis of type, the market is divided into pumped heat electrical storage (PHES), concentrated solar power (CSP), and others, out of which, the CSP diviosn held the largest share of the market in the past, owing to increasing adoption of these systems in several countries, including, the U.A.E and Australia. 

As per a study conducted by P&S Intelligence, North America held the major share (over 75.0%) of the thermal energy storage market in 2017. The increasing deployment of CPS plants and rising demand for power backup in HVAC systems in the U.S. and Canada are resulting in the growth of the regional domain. The Asia-Pacific region is expected to witness the highest CAGR during the forecast period, due to the increasing population and growing adoption of renewable energy resources. 

In conclusion, the market is majorly growing due to the rising focus on renewable sources for producing energy and increasing population. 

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Surging Sales of Automobile Propelling Demand for Paints and Coatings

The expansion of the construction industry is one of the biggest factors responsible for the growing demand for paints and coatings around the world. With the surge in the global population, many countries across the world are launching large-scale construction and infrastructural development projects such as the building of offices, civic infrastructure, hotels, retail centers, apartments, and hotels. For example, the Indian Government announced a massive road development program in April 2020.

Furthermore, the market is predicted to progress at a CAGR of 4.2% between 2020 and 2030. Depending on technology, the paints and coatings market is classified into solvent-borne, water-borne, high-solids, ultraviolet, and powder coatings. Out of these, the water-borne category recorded the highest growth in the market in the past years. This was because of the huge requirement for low- and no-volatile organic compound containing products. These products negatively affect the central nervous system and can cause cancer. 

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Globally, the paints and coatings market is set for lucrative growth in Asia-Pacific in the forthcoming years, as per the estimates of the market research company, P&S Intelligence. This will be because of the soaring number of construction and infrastructural development projects being announced in the region and the rapid shifting of various manufacturing facilities to APAC countries from Western nations. Furthermore, the mushrooming sales of vehicles are fueling the demand for paints and coatings in the region.

Hence, it can be said with full confidence that the sales of paints and coatings will shoot-up all over the world in the upcoming years, primarily because of the expansion of the automobile and construction industries in several countries.

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How Does Biochar Help in Carbon Emission Reduction?

With the population growing continuously, the demand for food and other agricultural produce is increasing too. However, with the rapid urbanization around the world, the farming area is reducing. The combined effect of both these factors has put the agrarian community under immense pressure to obtain more from the diminishing land. As a result, organic and artificial fertilizers, biocides, and nutrients are being added to the soil to make it more fertile and land that is not fit for agriculture arable.

P&S Intelligence says that due to this reason, the biochar market revenue will rise from $4.27 million in 2015 at a high 17.1% CAGR between 2015 and 2023. Biochar is a kind of charcoal created from agricultural waste, often called biomass, via the pyrolysis method, wherein the biomass is heated to extreme temperatures in limited oxygen. Apart from leading to fewer greenhouse gas (GHG) emissions during its production, it moderates the acidity of the soil, prevents nitrogen from leaching into the groundwater, raises the water retention capacity of the soil, and encourages the growth of microbes beneficial for the soil and crops.

Currently, North America is the largest biochar market, on account of the constantly increasing demand for agricultural products. Additionally, the quality of the soil in the region has degraded drastically in the last few years, as a result of unsustainable agricultural practices and high industrialization rate, which is leading to a rising demand for biochar. With numerous organizations in the region implementing regulations regarding the quality of the soil and suggesting ways of improving it, the North American agrarian community is expected to consume an ever-increasing amount of biochar in future.

Therefore, with the twofold benefits of biochar fully realized, its demand has a potential to rise drastically in the coming years.

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Why Is Chlorobenzene Important Raw Material in Chemical Factories?

Chemical sales have been forecast to grow by 3% every year till 2050 by the United Nations. Moreover, the 2012 Global Chemicals Outlook report published by the United Nations Environment Programme (UNEP) says, “The exact number of chemicals on the global market is not known but under the pre-registration requirement of the European Union’s chemicals regulation, REACH, 143,835 chemical substances have been pre-registered.” This clearly shows how vast the chemical industry is and why; chemicals, natural or synthetic, are required for manufacturing almost everything from processed foods to complex machines.

As a result of the growing chemical industry, P&S Intelligence has forecast significant expansion in the market for chlorobenzene in the years to come. This is because this chemical is widely used as an intermediate in the production of other specialty chemicals, including insecticides and pesticides, organic chemicals, di-isocyanate, paints, adhesives, coatings, waxes, and the pigments that are consumed during the manufacturing of di-phenyl oxide and nitrobenzene. Other key applications of chlorobenzene include pharmaceuticals and the degreasing of automobile body parts. Moreover, the chemical is used as a fiber swelling agent in the textile sector and during dry cleaning.

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These applications require the chemical in various forms, such as paradichlorobenzene, monochlorobenzene, m-dichlorobenzene, orthodichlorobenzene, tetrachlorobenzene, trichlorobenzene, and hexachlorobenzene. Among these, monochlorobenzene is the most-widely consumed form of the base chemical, on account of the high demand for nitrochlorobenzene and diphenyl oxide, which are themselves used to manufacture pigment and organic intermediates, dyes, pesticides, rubber processing chemicals, and pharmaceuticals. In the coming years, the consumption of paradichlorobenzene will rise the fastest, as it is used as a repellent and fumigant insecticide and in the production of specialty mothballs, deodorant blocks for toilets and restrooms, and poly (p-phenylene sulfone).

This is why Asia-Pacific (APAC) has been the dominating region in the chlorobenzene market till now, and it will also witness the highest growth rate in the years to come. Additionally, with the growing agricultural sector, the demand for agrochemicals is rising, which is driving the consumption of chlorobenzenes. Another emerging application area of these chemicals in the region is pharmaceuticals, the production of which is growing to cater to the increasing disease-ridden population. For instance, as per the India Brand Equity Foundation (IBEF), India exported $16.3-billion worth of pharma products in FY2020, and its overall pharmaceutical industry is set to touch $100 billion in 2025.

Thus, the growth in end-use industries will continue to result in the increasing consumption of chlorobenzenes.

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Why will Sales of Soy-Based Chemicals Surge in Asia-Pacific in Future?

The rising requirement for soybean for traditional use in the food industry and the growing utilization of bio-based products are the main factors fueling the demand for soy-based chemicals across the globe. Moreover, rapid environmental degradation, increasing air and water pollution levels, global warming, the problem of waste disposal, and the rising incidence of acid rain are boosting the popularity of bio-based chemicals, which is, in turn, propelling the requirement for soy-based chemicals around the world.

Due to the aforementioned factors, the global soy-based chemicals market is exhibiting rapid expansion. Soy-based chemicals are basically substitutes to the conventionally used chemicals that are derived from petroleum oil or crude oil. Soy milk is one of the most widely used soybean derivatives. It is extensively used in the food industry. On the other hand, soy oil is heavily used for extracting chemicals such as waxes, isoflavones, and polyols. 

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Soy oil derivatives are then used for producing biodegradable soaps, plastics, biodiesel, and various other products. Apart from being heavily used in the food and beverage and plastics industries, soy-based chemicals are also required in huge amounts in the cosmetics industry. Soy-oil, fatty acids, soy-wax, polyols, isoflavones, and methyl soyate are the main types of soy-based chemicals used across the world. Out of these, the usage of soy-oil was found to be the highest during the last few years.

Food and beverages, cosmetics, paper and pulp, plastic and polymers, and biodiesel are the major application areas of soy-based chemicals. Out of these, the utilization of soy-based chemicals was found to be the highest in biodiesel applications in the past years. Globally, the sales of soy-based chemicals were the highest in North America in the past, as per the findings of P&S Intelligence, a market research company based in India. 

Hence, it is quite clear that the demand for soy-based chemicals will explode all over the world in the upcoming years, mainly because of their growing requirement in the food and beverages industry and the rising popularity of bio-based products around the world.

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How are Biostimulants Improving Agricultural Productivity?

Biostimulants are substances or microorganisms that are made of natural or synthetic compounds. They are used in seeds, soil, or plants along with various substrates for stimulating organic plant growth and improving their immunity. Apart from these, biostimulants are also used for helping plants assimilate necessary nutrients, which, in turn, leads to better crop protection. Because of this reason, biostimulants are extensively used in fertilizers, food technology, and agrochemical industries.

Because of the aforementioned factors, the demand for biostimulants is growing rapidly across the globe. This is propelling the advancement of the global biostimulants market, as per the observations of P&S Intelligence, a market research company based in India. Fulvic, humic, seawood extracts, amino acids, and vitamins are the major active ingredients used in biostimulants. Out of these, the usage of seawood extracts was found to be the highest in biostimulants in the past years.

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Geographically, the sales of biostimulants were found to be the highest in Europe during the last few years. This was because of the high requirement for nutritional and organic food products in the regional countries. In the future years, the biostimulants market will register huge expansion in the Asia-Pacific and Latin American regions. Furthermore, the demand for biostimulants will grow massively in the Middle Eastern and Africa and North American regions in the future years.

With the rising adoption of advanced and innovative farming practices, the Asia-Pacific region is providing lucrative growth opportunities to the players operating in the biostimulants industry. Apart from this, the increasing requirement for increasing the yield per hectare and the rapid enactment of government regulations and policies that aim to promote the usage of biostimulants in agricultural processes are also pushing up the sales of biostimulants all over this region. 

Hence, it can be said with full confidence that due to the growing requirement for high agricultural productivity and crop yield, because of the soaring population levels and the mushrooming demand for food items, and the rising popularity of advanced farming techniques, the sales of biostimulants are shooting-up in many countries around the world.

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Why will Sales of Planar Solar Oxide Fuel Cells Explode in Asia-Pacific in Future?

Due to the increasing concerns being raised over the rapid environmental degradation in several countries, the demand for eco-friendly energy sources is rising rapidly across the world. Moreover, the governments of many countries are implementing strict regulations and policies for mitigating the utilization of non-renewable energy sources for power generation. This is fueling the development and the growing popularity of alternative and environment-friendly energy sources such as the fuel cell technology.

In countries such as the U.S., Germany, and Japan, the regulatory authorities are enacting strict regulations for reducing the emission of toxic gases from various industries such as automotive, chemicals, and power generation. Moreover, as this technology exhibits high efficiency in power generation, it is increasingly being adopted in stationary power production processes. This technology also offers various other advantages such as very low levels of sulfur oxide (Sox) and nitrogen oxide (NOx) emissions and high fuel adaptability. 

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Furthermore, the mushrooming requirement for planar solid oxide fuel cells in several industries is causing a sharp surge in their sales across the world. Besides these factors, the ballooning requirement for these cells in the oil and gas industry is also creating lucrative growth opportunities for the planar solar oxide fuel cell-producing companies around the world. This is, in turn, fueling the expansion of the global market for planar solid oxide fuel cell.

Hence, it is safe to say that the sales of planar solar oxide fuel cells will shoot up all over the world in the forthcoming years, primarily because of the rising requirement for eco-friendly power producing energy sources in several countries.

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What Are Applications of High-Temperature Elastomers in Automobile Industry?

“With increasing populations, urbanization, and the fact that almost 75 percent of the infrastructure that will exist in 2050 has yet to be built, the construction industry is expected only to expand.”, the World Bank says. The organization also says that this sector is the largest consumer of raw materials in the world. Thus, with the increasing construction activities, the amount of various types of raw material required is only going to increase.

P&S Intelligence says that due to the expanding construction sector, the market for high-temperature elastomers will grow to $14,951.4 million by 2023 from $9,991.7 million in 2017, at a 7.0% CAGR between 2018 and 2023. As the name suggests, high-temperature elastomers are polymeric materials with high elasticity that are designed to withstand strong heat, up to 200 degrees Celsius. In construction, these materials are used for highway and building expansion joints, general weatherproofing of sanitary joints in bathrooms, the joints in porous and nonporous substrates, fire-rated joints along pipes, ducts, electrical conduits, and electrical wiring within walls and ceilings.

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High-temperature elastomers can be made from perfluorocarbon, fluorocarbon, fluorosilicone, silicone, nitrile, and polyacrylate. Among these, silicone elastomers are the most popular, and they will continue being used in the highest amounts in the years to come. Silicone elastomers are widely used in the construction sector for structural glazing and as sealants, while in automobile plants, they are used as vibration dampers and in cured-in-place gaskets. With the booming population driving the demand for commercial, residential, civil, and industrial infrastructure and automobiles, the demand for silicone high-temperature elastomers is only going to increase.

Apart from automotive and transportation and construction, high-temperature elastomers find application in the healthcare, industrial machinery, semiconductor and electronics, consumer products, and chemical sectors. In the years to come, the demand for these materials is expected to increase the most rapidly in the semiconductor and electronics industry, due to the importance of these materials in this sector as they can withstand high temperatures. With the growth of the semiconductor and electronics industry in China, India, Japan, and South Korea, the demand for these materials will increase too.

Hence, the demand for these materials will increase with the growth in end-use industries.

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How are Government Actions Fueling Sales of Liquid and Air Filter Bags?

The implementation of strict government regulations and policies and environmental standards for mitigating water and air pollution is pushing up the demand for liquid and air filter bags across the world. Moreover, the increasing number of industrial activities and the rising concerns being raised in several countries over the surging pollution levels are fueling the adoption of liquid and air filter bags. Many industries are nowadays adopting filters for preventing the settling of dust particles in machines and systems.

This is creating lucrative growth opportunities for the liquid filter bag producing companies around the world. Due to these reasons, the global liquid and air filter bags market is recording huge expansion. Between the air and liquid filter bags, the sales of the air filter bags are predicted to rise rapidly across the globe in the coming years. This will be because of the growing requirement for the removal of dust and various unwanted particles from industrial machinery.

Mining, chemicals and pharmaceuticals, water treatment, cement, steel and power, food and beverage, and brewing are the major end use industries of liquid and air filter bags. Amongst them, the usage of these bags will skyrocket in the water treatment industry in the future years. This will be due to the ballooning requirement for air and liquid filter bags in secondary, tertiary, and primary water treatment processes, where they are used for removing fine and medium-sized solid particles from water.

According to P&S Intelligence, a market research company based in India, one of the major trends currently witnessed in the liquid and air filter bags market is the rising usage of these bags in several coal-powered power plants. For instance, these filter bags are used heavily in the Asia-Pacific region for mitigating water and air pollution in coal power plants. Filter bags made from polyphenylene sulfide are widely used in dust chamber filters in incinerators and coal-powered fire stations.

Hence, with the growth of industries, in an era when air and water pollution are serious issues, the demand for liquid and air filter bags would keep increasing.

Read more: https://www.psmarketresearch.com/market-analysis/liquid-and-air-filter-bags-market

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Why Has Tungsten Carbide Recycling Increased?

Tungsten carbide is used in varied applications in the defense, metalworking, oil & gas, power generation, and automotive industries, due to its superior properties, such as high thermal conductivity, high resistance to scratches and indentations, and stiffer than steel. The compound also displays exceptional resistance to ammonia, acetone, ethanol, water, gasoline, and weak acids. Owing to these, the tungsten carbide powder market will accelerate at a CAGR of 3.6% during 2018–2023. The market stood at $1,762.1 million in 2017 and it is expected to reach $2,176.8 million by 2023. 

Another key factor driving the tungsten carbide powder market growth is the recycling of tungsten carbide scrap. Powdered and granular scrap of the compound is recycled to obtain its reusable form. Additionally, the trend of in-house recycling and refining of such scrap has led to the local manufacturing and usage of reusable tungsten carbide products. For example, Sumitomo Electric Hardmetal Corporation gathers cement carbide scrap from manufacturing units, where scrap is generated, for recycling and reprocessing it.

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Other leading producers of tungsten carbide include Chongyi Zhangyuan Tungsten Co. Ltd., OC Oerlikon Corporation AG, Kennametal Inc., Xiamen Tungsten Co. Ltd., China Minmetals Corporation, and GuangDong XiangLu Tungsten Co. Ltd. These businesses are pursuing geographical expansions and acquisitions to gain a competitive edge and meet the spurring demand. For example, in October 2017, OC Oerlikon Corporation AG signed an agreement to acquire the assets of Diamond Recovery Services Inc. (DRS) and DiaPac LLC in the U.S., to improve its technical expertise in processing, production, and recycling of tungsten carbide.

North America and Asia-Pacific will collectively consume the highest volume of tungsten carbide in the coming years. This can be attributed to the surging shale gas exploration and production (E&P) activities, rising application of tungsten carbide in the automobile industry, and existence of established players. Among APAC nations, China will use the highest quantity of this compound, owing to the forward and backward integration in the value chain of the market, in-house production of cemented carbides, expansion of automobile industry, and presence of large mining and production facilities, in the country. 

With the increasing applications of tungsten carbide and the rising activities of recycling of tungsten carbide scrap, the production and consumption of tungsten carbide will spike in the coming years.

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Why Are Automakers Relying on Injection Molded Plastics?

The automotive sector utilizes high volume of injection molded plastics for manufacturing automobile parts to reduce the overall vehicle weight. Automakers are focusing on producing lightweight vehicles to enhance fuel efficiency. Plastics are an imperative component of any vehicle and the incorporation of these plastics provides a substantial weight reduction. Thus, the soaring demand for lightweight and fuel-efficient vehicles will propel the injection molded plastics market at a CAGR of 6.0% during 2017–2025. The market stood at $283.5 billion in 2016 and it is expected to reach $496.2 billion by 2025.

According to P&S Intelligence, the Asia-Pacific region dominated the injection molded plastics market in 2016 and it will retain its dominance in the foreseeable future. This is due to the increasing application of injection molded plastics in the cosmetics and toiletries, pharmaceutical, and food and beverages industries of the region. Moreover, the escalating consumption of soft drink consumption, on account of the rising temperature and booming population, is boosting the usage of these plastics. Besides, the presence of established players also fuels the consumption of injection molded plastics in APAC.

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In recent years, key market players have increased their focus on product launches and geographical expansion to consolidate the competition. For example, DowDuPont Inc. established its new ethylene and plastics plant in Freeport, in September 2017, to produce 1.5 million metric tons of ethylene every year. This plant has a massive cracker that separates a component of natural ethane to provide the feedstock for ethylene, which is a vital ingredient for most plastics. Similarly, in October 2017, ExxonMobil started production at its new petrochemical facility in Texas, the U.S.

Thus, the widening application of injection molded plastics in the medical, packaging, and automotive sectors will fuel the production and consumption of these plastics in the coming years.

Read more: https://www.psmarketresearch.com/market-analysis/injection-molded-plastics-market

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Why will Demand for Spunbond Nonwovens Shoot-Up in Asia-Pacific in Future?

The increasing per capita income and the growing public awareness about personal hygiene are fueling the demand for products such as feminine hygiene pads, toddler training pants, and diapers. These products promote personal hygiene and skin health. Additionally, the surging geriatric population in various countries such as Italy, Germany, and Japan is further boosting the sales of adult incontinence products. Due to the soaring sales of these products, the requirement for the fabric used in these products is growing rapidly.

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As spunbond nonwovens are heavily used for producing these products, the surging sales of these products are propelling the demand for these materials across the world. Personal care and hygiene products provide protection from various germs and mitigate the spread of several diseases. According to various estimates, the size of the baby diapers industry will rise above $70 billion by 2024. This will be because of the low infant mortality rate and the high fertility rate in several countries.

This is, in turn, boosting the requirement for disposable nonwoven fabric all over the world. This is driving the progress of the global spunbond nonwovens market. Polypropylene, polyethylene, polyester, and polyurethane are the main types of materials used in spunbond nonwovens. Out of these, the usage of polypropylene was found to be the highest during the past few years. This was because of the lower price, higher chemical resistance, and greater strength of this material than the other materials. 

Medical, building and construction, hygiene and personal care, automotive, agriculture, packaging, bedding and furniture, apparel, and filtration are the major application areas of spunbond nonwovens. Out of these, the usage of spunbond nonwovens was observed to be the highest in hygiene and personal care applications in the past years. Across the globe, the sales of spunbond nonwovens were observed to be the highest in the Asia-Pacific region in the past years.

Hence, it is safe to say that the sales of spunbond nonwovens will skyrocket all over the world in the upcoming years, primarily because of their growing usage in personal care and hygiene products and various medical products.

Read More: https://www.psmarketresearch.com/market-analysis/spunbond-nonwovens-market

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Plastisol Sales Set to Surge in Asia-Pacific in Near Future

The expansion of the textile industry is positively impacting the sales of plastisols across the world. Screen printing is rapidly becoming the most sought-after option for printing fabrics. Plastic inks are extensively used in the inking and coating of textiles, because of their high cost-effectiveness, excellent performance, and opaqueness. Moreover, the mushrooming requirement for printed textiles such as jeans, printed tees, jackets, tote bags, and various other apparels is boosting the requirement for coating inks in textile applications.

The governments of many countries are enacting policies for fueling the expansion of the textile industry. For example, according to the data and information collected by Indonesia-Investments, which is an informational website that publishes information about the country’s economy, the government of Indonesia aims to increase the valuation of exported garments and textile to as much as $75 billion by 2030. This will consequently push up the sales of plastisols in the country in the coming years.

To learn more about this report: https://bit.ly/3ciJtTa

Plastisols are basically suspension mixtures made from plasticizers and polyvinyl chloride (PVC) materials. They exhibit many beneficial traits such as chemical resistance, corrosion resistance, and fire resistance and are not soluble in water. Because of these characteristics, plastisols are extremely suitable for use in several applications such as screen printing, coatings, adhesives and sealants, and moldings. Out of these, the usage of plastisols was found to be the highest in coatings during the past few years.

This was because of the fact that these materials provide high corrosion and chemical resistance and excellent insulation. Across the globe, the plastisols market will exhibit the fastest growth in the Asia-Pacific region in the coming years, as per the estimates of P&S Intelligence, a market research company based in India. This will be because of the rapid economic progress and the ballooning plastisol production capacities of the regional countries. 

Therefore, it is safe to say that the demand for plastisols will soar all over the world during the next few years, mainly because of their increasing usage in the textile industry.

Read More: https://www.psmarketresearch.com/market-analysis/plastisols-market


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Mushrooming Popularity of Lightweight Vehicles Propelling Growth of APAC Automotive Adhesives and Sealants Market

The Asia-Pacific automotive adhesives and sealants market generated a revenue of $3,403.6 million in 2017 and is predicted to attain a valuation of $4,938.0 million by 2023. According to the estimates of P&S Intelligence, a market research company based in India, the market will demonstrate a CAGR of 6.5% between 2018 and 2023. The prominent factors driving the advancement of the market are burgeoning utilization of lightweight materials in automobile manufacturing and the soaring vehicle manufacturing in APAC.

For instance, the RENUVA technology was developed by DowDuPont Inc. for adhesives and sealants and it offers various benefits that cover several applications such as greater water resistance, good adhesion on various substrates, and improved flexibility. These technologies are predicted to create lucrative growth opportunities for the players operating in the APAC automotive adhesives and sealants market in the future years. Based on type, the market is divided into acrylics, epoxy, rubber, polyurethanes, silicones, hot melts, and PVC. 

Out of these, the epoxy category is predicted to register the fastest growth in the market in the forthcoming years. This will be because of the superior properties of these adhesives over the others such as higher surface hardness, excellent heat-resistance, high temperature stability, good dimensional stability, fire-resistance, low flammability, and cost-effectiveness. The APAC automotive adhesives and sealants market is also classified, on the basis of application, into under-the-hood (UTH) and power train, assembly, paint shop, and body-in-white (BIW). 

Hence, it is safe to say that the market will register huge growth in the coming years, primarily because of the soaring automobile manufacturing and the growing requirement for lightweight vehicles in the region. 

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Advent of Diesel Exhaust Fluid (AdBlue) Proves Technology Can Save Our Blue Planet, It Just Needs a Push

The increasing awareness regarding environmental pollution and rising number of government initiatives to curtail it are expected to drive the diesel exhaust fluid market size from $12,191.5 million in 2017 to $20,518.0 million by 2023. The market is projected to progress at a CAGR of 8.8% during the forecast period. The soaring levels of vehicular pollution have led to the widescale adoption of diesel exhaust fluid, or DEF, in several countries, such as the U.S., Canada, Spain, France, China, Australia, Brazil, and India.

Governments across the globe are implementing several legislations to restrict the emission of toxic gases from commercial and personal vehicles. For instance, in April 2020, the Indian government made it mandatory for automobile manufacturers to produce vehicles that comply with the Bharat Stage VI (BS-VI) norms. The norms aim to reduce hydrocarbon + nitrogen oxides (HC+NOx) emissions by 43%, NOx levels by 68%, and particulate matter levels by 82% from diesel engines, which would ultimately propel the diesel exhaust fluid market in the country.

The categories under the storage solution segment of the diesel exhaust fluid market include bulk storage, dispensers, and portable containers. Under this segment, the bulk storage category held the largest market share in 2017 due to the consumption of large volumes of AdBlue by trucks and other heavy-duty vehicles, for which drums and storage tanks are used to store the fluid. Moreover, the escalating need for product transportation is resulting in the expansion of the fleet of heavy-duty trucks, thereby driving the demand for bulk storage solutions.

In recent years, companies operating in the diesel exhaust fluid market have adopted strategic measures including facility expansions and mergers and acquisitions to consolidate the competition. For example, BASF SE and Yara International ASA opened a new ammonia plant, with a capacity of 750,000 metric tons annually, in Freeport, Texas, in April 2018. Additionally, Yara International ASA acquired the Vale Cubatao Fertilizantes complex in May 2018 to tap the emerging Brazilian market for nitrogen-based products.

Thus, the stringent government laws on vehicular pollution are propelling the demand for diesel exhaust fluid.

Read more: https://www.psmarketresearch.com/market-analysis/diesel-exhaust-fluid-market

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Increasing Demand for Polyurethane-Based Coatings to Drive Indonesian Automotive Refinish Coatings Market

Increasing average age of automobiles, growing disposable income, and rising incidence of vehicle collisions will accelerate the Indonesian automotive refinish coatings market at a CAGR of 4.9% during the forecast period. Due to these factors, the revenue size of the market is projected to increase from $240.2 million in 2017 to $336.6 million in 2023. To gain from this growing phase, industry players adopt several technologies to produce various types of coatings that are being deployed in the Indonesian automotive industry.

To learn more about this report: https://bit.ly/2O7j8iU

To supplement the soaring demand for quality products, the industry players are deploying several technologies to offer better coatings. The technology segment of the Indonesian automotive refinish coatings market is divided into solvent-borne, ultraviolet (UV)-cured, and water-borne categories. During the historical period (2013–2017), the solvent-borne category led the market, due to the availability of a wide range of solvent-based coatings. Moreover, these products are more favorable to the climate than other technologies. Apart from this, the low-drying time of the solvent-based coatings encourages the adoption of these products.

Geographically, the Indonesian automotive refinish coatings market is classified into West Java, East Java, Central Java, East Kalimantan, South Sulawesi, North Sumatra, and South Sumatra. Among the various regions, West Java consumes the maximum amount of these coatings, due to the existence of a large customer base, notable economic activities, macroeconomic growth, presence of numerous metropolitan cities, and population growth. Moreover, the region is marked by the presence of small cities that have a high concentration of auto body repair shops.

Thus, the expansion of Indonesian automotive industry and increasing focus on the longevity of vehicles will augment the consumption of automotive refinish coatings in future.

Read more: https://www.psmarketresearch.com/market-analysis/indonesia-automotive-refinish-coatings-market

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Ballooning Mining Operations Fueling Sales of Engine-Driven Welders in U.S.

The burgeoning requirement for dual operating machines (welding and electricity supply) in mining operations is causing a sharp surge in the sales of engine-driven welders in the U.S. In addition to this, the growing usage of these welders in pipeline operations is also a playing a major role in the rapid expansion of the U.S. engine-driven welder industry. In the mining industry, welders are required for removing damaged parts or cracks and carrying out maintenance and repairs on mining systems.

To learn more about this report: https://bit.ly/3kUgCYW

Furthermore, welders are used for supplying electricity for various auxiliary operations such as providing power to electrical devices when base electric power is not available. Mining operations are performed extensively in the U.S. for extracting geological materials and minerals. Due to these factors, the rapid advancement of the country’s mining industry is propelling the sales of engine-driven welders. Besides this, the soaring construction activities in the remote regions of the country are also fueling the sales of these welders. 

This is because these welders also have the ability to serve as power-producing devices. The surging investments being made in the construction industry are driving its progress, which is, in turn, creating lucrative growth opportunities for the players operating in the engine-driven welder industry. Due to these reasons, the U.S. engine-driven welder market will register huge growth in the future. The value of the market will rise from $133.1 million in 2018 to over $188.9 million by 2024.

Hence, it is quite clear from the above paragraphs that the demand for engine-driven welders would surge in the U.S. in the coming years, primarily because of their increasing requirement in the oil and gas industry and mining operations. 

Read more: https://www.psmarketresearch.com/market-analysis/us-engine-driven-welder-market

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Why Is Automotive OEM Coatings Market Growing Rapidly in APAC?

 The automotive original equipment manufacturer coatings market stood at $10,997.4 million in 2018, which is projected to reach $13,661.4 million by 2024, progressing at a CAGR of 4.2% during the forecast period of 2019–2024. 

The market growth can be driven by technological innovations and developments and the booming automobile industry in developing countries. Besides, the shift toward power coatings from liquid coatings, due to reduced emission of volatile organic compounds (VOCs), is the current trend being observed in the market.

To learn more about this report: https://bit.ly/3ruZ3kI

Also, investments in the automobile industry, especially in developing countries, are expected to increase the automotive OEM coatings market revenue size during the forecast period. For example, luxurious marques in countries, such as Indonesia, Brazil, and India, are aspiring to further increase their presence in these nations by catering to the middle-class and upper-middle-class population. Additionally, increase in disposable incomes and macroeconomic growth in these emerging economies have increased the demand for automobiles, which, in turn, has driven the demand for allied products like automotive OEM coatings and automobile accessories.

Due to the presence of few major players, the automotive OEM coatings market has a consolidated nature. This consolidated market is led by only seven manufacturers: Akzo Nobel N.V., BASF SE, PPG Industries Inc., Nippon Paint Holdings Co. Ltd., Axalta Coating Systems Ltd., The Sherwin-Williams Company, and Kansai Paint Co. Ltd. These players are adopting measures like product launches, geographical expansions, strategic alliances, and mergers, to gain a competitive edge in the market. 

Thus, the increasing demand for automobiles is driving the growth of the market during the forecast period.

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Why will Demand for 300–450 TBN Calcium, Barium, and Magnesium Sulphonates Shoot-Up in Asia-Pacific in Future?

Due to the various benefits and advantages offered by calcium sulphonate-based greases, the demand for 300–450 TBN calcium, barium, and magnesium sulphonates is surging across the world. Some of the beneficial traits of calcium sulphonate-based greases are high pressure resistance, excellent water and corrosion resistance, mechanical stability, and several anti-wear advantages. Because of these beneficial characteristics, this chemical is extensively used as a thickener in greases, mainly in applications that require high performance. 

Due to the above-mentioned factors, the usage of these materials is rising rapidly all over the globe. This is driving the progress of the global 300–450 TBN calcium, barium, and magnesium sulphonates market. As per various estimates, the value of the market will rise from $73.5 million in 2019 to $231.2 million by 2030. Furthermore, the market is predicted to progress at a CAGR of 10.9% between 2020 and 2030.

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Depending on type, the 300–450 TBN calcium, barium, and magnesium sulphonates market is classified into calcium sulphonate, barium sulphonate, and magnesium sulphonate. Amongst these, the calcium sulphonate category is predicted to exhibit the highest CAGR, in terms of revenue growth, in the market in the forthcoming years. This will be because of the extensive usage of this salt in the marine, steel, automotive, and food processing sectors, on account of its appreciable hydrophobicity and high stability in extreme pressure.

Thus, it can be said without any hesitation that the demand for 300–450 TBN calcium, barium, and magnesium sulphonates will skyrocket all over the world in the coming years, primarily because of the various beneficial characteristics of the calcium sulphonate-based greases and their minimal environmental impact. 

Read More: https://www.psmarketresearch.com/market-analysis/calcium-barium-magnesium-sulphonates-market

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Boom Expected in North American Medical Adhesives Market in Future

The rapid economic progress of several countries such as India, Brazil, and China is causing a sharp surge in the demand for medical adhesives. As per many reports, the gross domestic product (GDP) of India, China, and Brazil were ranked 5th, 2nd, and 8th, respectively across the globe in 2019. Because of this reason, the spending power of the inhabitants of these countries is soaring, which is, in turn, pushing up the demand for various food and health products. 

Moreover, with rapid economic progress, the healthcare spending of many countries is rising sharply and is predicted to surge even more in the coming years. Besides these, the rising requirement for medical disposable devices, products, and various equipment, due to the increasing demand for surgeries and the rising prevalence of chronic diseases, is also positively impacting the demand for medical adhesives across the world. The increasing focus on infection prevention methods is driving the advancement of the medical adhesives market.

To learn more about this report: https://bit.ly/2MR5qQw

Globally, the medical adhesives market will demonstrate lucrative growth in North America in the future, as per the estimates of the market research company, P&S Intelligence. This will be due to the rising demand for various medical devices, needles, equipment syringes, surgical sutures, thermometers, stretchers, first-aid kits, and personal protective equipment in the region. Moreover, with the boom in the population, the sales of these medical products are predicted to surge sharply in this region in the coming years.

Hence, it is safe to say that the demand for medical adhesives is predicted to shoot-up all over the world in the forthcoming years, mainly because of the rising requirement for various medical devices, on account of the increasing demand for surgeries and the rising incidence of hospital-acquired infections and chronic diseases across the world.

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Bismuth Nitrate: A Magic Compound Making Development of Potent Drugs Possible

Bismuth Nitrate is rapidly becoming the favorite compound of pharmaceutical companies across the globe. This is mainly because of the ability of the bismuth nitrate-formulated medicines to treat kidney damage caused because of chemotherapies. In addition to this, these medicines prevent bone marrow damage caused because of radiation and prevent the occurrence of digestive tract infections that can subsequently lead to ulcers (Helicobacter pylori). Because of these reasons, bismuth nitrate is experiencing mushrooming demand for pharmaceutical companies around the world.

Apart from the aforementioned factors, the rising incidence of cancer is also propelling the demand for drugs made from the compound in these countries. This is, in turn, boosting the sales of the compound, which is subsequently causing the expansion of the global bismuth nitrate market. According to the forecast of P&S Intelligence, a market research firm based in India, the valuation of the market would rise from $190.6 million to $287.7 million from 2019 to 2030. 

To learn more about this report: https://bit.ly/3094SIL

Furthermore, the market is predicted to advance at a CAGR of 5.1% between 2020 and 2030. There are mainly two grades of the compound available in the market namely industrial and pharmaceutical grades. Between these, the sales of the pharmaceutical grade bismuth nitrate is predicted to be higher in the forthcoming years. This would be a result of the large-scale usage of the chemical in medicated drugs, on account of its ability to prevent kidney damage during chemotherapies.

Chemical manufacturing and drug formulation are the major application areas of the compound all over the world. Of these, the usage of the compound is predicted to rise immensely in drug formulation applications in the upcoming years. This would be due to the growing usage of the compound in drug manufacturing processes. Additionally, this compound is increasingly being used for producing medicines for those ailments and diseases that currently don’t have any available cure.

Hence, it can be said without any hesitation that the sales of bismuth nitrate would shoot-up all over the world in the years to come, mainly because of the rising requirement for the compound in the pharmaceutical sector and for drug manufacturing.

Read More: https://www.psmarketresearch.com/market-analysis/bismuth-nitrate-market-report

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High Demand for Chlorine for Production of PVC

The need for water treatment across the globe has risen substantially across the globe, which can be attributed to the surging population and increased water pollutions, owing to industrialization. Moreover, the awareness regarding drinking untreated water is increasing rapidly in a number of emerging economies, such as Thailand, Brazil, and India. Drinking untreated water can cause various diseases, such as Hepatitis A, cholera, typhoid, and hepatitis B. it is due to such factors that the demand for water treatment has been rising rapidly. 

These factors are further resulting in the growth of the global chlorine market. Since chlorine has the ability to kill bacteria and pathogens at very early stage and thereby, preventing the spread of water-borne diseases, it is being increasingly utilized in water treatment applications. In addition to this, chlorine is also being adopted for treating water for irrigation purposes. Other than in the water treatment industry, chlorine is also utilized for the production of PVC. 

To learn more about this report: https://bit.ly/3kR2GiE

The chlorine market is projected to reach a value of $63,121.6 million in 2030, increasing from $36,845.0 million in 2019, and is predicted to witness a 5.2% CAGR during the forecast period (2020–2030). On the basis of application, the market is categorized into chloromethanes, ethylene dichloride (EDC)/polyvinyl chloride (PVC), solvents, isocyanates & oxygenates, and inorganic chemicals. Among all these the EDC/PVC category held the largest share of the market in 2019, owing to the high volume consumption of chlorine during the chlorination process for manufacturing EDC/PVC. 

Geographically, the Asia-Pacific region accounted for the major share of the chlorine market in 2019, and it is further projected to dominate the market in the near future as well. The increasing demand for chlorine in countries including India, China, and Thailand for water treatment applications, EDC/PVC production, and from pharmaceutical sectors is leading to the growth of the regional domain. The region is expected to grow at the fastest pace during the forecast period. 

Hence, the market is registering growth due to the increasing need for treated water and rising demand for PVC.

Read More: https://www.psmarketresearch.com/market-analysis/chlorine-market

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Triazine As Scavenger Chemical

Often, the crude oil extracted from the earth’s surface contains excessive amounts of hydrogen sulphide (H2S), which causes souring. This can lead to corrosion and damage to underwater metallic pipelines and other equipment, which can seriously harm exploration and production (E&P) operations. As a result, the global triazine market, which generated $518.68 million in 2019, is projected to witness a 5.6% CAGR between 2020 and 2030, to reach $814.55 million in 2030.

Triazines, especially 1,3,5-triazine, is used in high volumes as an H2S scavenger, to ensure smooth E&P operations and prevent air and water pollution in the surrounding environment. In this regard, the key driver for the triazine market is the biodegradability of monomethylamine (MMA), a triazine derivative, which propels its usage in oil & gas extraction and refining and their transportation via shipping containers, pipelines, and storage tanks, apart from water treatment.

To learn more about this report: https://bit.ly/3b6XvaV

The triazine market, under the product segment, was dominated by the MEA category in the past. The oil & gas industry uses MEA in high volumes for reducing the amount of H2S in the oil and gas extracted from wells. Thus, the growing oil & gas sector, on account of the increasing demand for electricity, will propel the consumption of MEA.

North America has been the most-productive triazine market till now, and it is expected to display the highest value CAGR, of 6.1%, in the years to come. The Energy Information Administration (EIA) mentions a 12-times increase in shale E&P activities in the U.S. over the last decade, which has propelled the consumption of triazines and their derivatives. Due to its cost-effectiveness over crude oil, shale gas is being increasingly used for the production of a variety of intermediate and commodity chemicals in the region.

The most-significant companies in the global triazine market are Baker Hughes Company, Ashland Global Holdings Inc., Foremark Performance Chemicals, BASF SE, Eastman Chemical Company, Dow Inc., Haihang Commercial Holding Co. Ltd., Evonik Industries AG, Stepan Company, and Hexion Inc.

Key Findings of Global Triazine Market Report

Robust product demand seen during COVID-19 pandemic

Demand for 1,2,4-triazine to rise at highest rate in coming years

Oil & gas most profitable end use for triazine suppliers

North America to remain largest consumer of triazines and derivatives

Mergers and acquisitions key trends in market

Market partially consolidated in nature

Read More: https://www.psmarketresearch.com/market-analysis/triazine-market-report

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Water Pump Sales Set to Soar in India in Coming Years

Water pumps are basically mechanical systems that are used extensively in various industries and households across the world. With the surge in the urban population in many countries, the already existing water infrastructure comprising utility water delivery and wastewater removal and treatment facilities, is experiencing huge pressure. Therefore, the governments of many countries, especially in Asia and Africa, are making huge investments in schemes for irrigation activities and drinking water.

Because of the growing requirement for clean water in urban households, numerous water pump manufacturing companies are augmenting and diversifying their product portfolios. Apart from these factors, the expansion of the construction industry and the increasing water scarcity are also propelling the demand for water pumps across the world. This is driving the progress of the global water pump market. Centrifugal and positive displacement pumps are the two main types of water pumps used around the world.

To learn more about this report: https://bit.ly/302wZt6

This will be a result of the rising urbanization and industrialization and the surging disposable income of the people residing in this region. In APAC, the demand for water pumps will shoot-up in India in the future years. Some of the prominent water pump manufacturing companies across the world are Gardner Denver Inc., The Weir Group PLC., Grundfos Holding A/S, Torishima Pump Mfg. Co., Ebara Corporation, ITT Corporation, KSB Aktiengesellschaft, Kirloskar Brothers Limited, Sulzer Ltd., and Flowserve Corporation.

Hence, it is safe to say that the sales of water pumps will skyrocket all over the world in the coming years, primarily because of the increasing water scarcity and the growing requirement for water in urban and rural households and various industries.

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