Why Are Asians Buying More Charcoal Briquettes than Ever?

The soaring popularity of barbecued food and flourishing cement and steel industries will drive the Asian charcoal briquettes market at a CAGR of 6.2% during the forecast period (2020–2024). The market stood at $952.5 million in 2019, and it is projected to reach $1,158.4 million by 2024. Asia has a vivid culture, with every nation having its signature cuisines and cooking styles. However, changing food preferences of people and a growing awareness about a healthy lifestyle can be observed in every country. Owing to this, the consumption of grilled or barbecued food is rapidly rising in the region.

The type segment of the market is classified into round, hexagonal, octagonal, and coconut shell. Among these, the hexagonal category dominated the market in 2019 owing to the high preference for hexagonal charcoal briquettes among hotels and restaurants for barbecuing and grilling. The hexagonal shape offers uniform heating during grilling, thereby resulting in delicious food. Moreover, the easy conversion of disproportionately shaped charcoal to the hexagonal shape has resulted in the higher availability of this uniformly shaped fuel.

Geographically, Japan is expected to exhibit the fastest growth in the Asian charcoal briquettes market during the forecast period. This country uses almost all of its charcoal briquettes to prepare grilled food. Moreover, upcoming events such as Olympics 2020 (rescheduled for 2021) will propel the demand for barbecued food in the country owing to the arrival of a notable number of international guests. To meet the magnifying demand for barbecued food, Japan will import a larger quantity of charcoal briquettes than presently.

Whereas, India is expected to register the highest product demand in the Asian charcoal briquettes market in the forecast years on account of the accelerating popularity of barbecued food in the country. Moreover, the mounting consumption of this fuel in the manufacturing of steel and cement will also facilitate the market growth. The cement and steel sectors in India utilize high volumes of charcoal briquettes due to their low cost and easy availability.

The Asian charcoal briquettes market is extremely unorganized due to the presence of several small players. Some of the leading players are Thailand Premium Charcoal Supplier, Sagar Charcoal and Firewood Depot, Matsuri International Co. Ltd., Life Green Charcoal Sdn Bhd, PT. Coconut Charcoal Briquette Factory, Mackay Green Energy Inc., PT. Ruby Privatindo, Mesjaya Abadi Sdn Bhd, COCO Energy, and Subur Tiasa Holdings Berhad. These companies are using several strategic measures, such as product launches and distribution agreements, to increase their revenue.

Thus, the growing inclination toward barbecued or grilled food and strengthening metallurgy industry in Asia will fuel the demand for charcoal briquettes in the future.

Source: www.psmarketresearch.com

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How Is Kuwaiti Government Boosting Facility Management Service Adoption?

The Government of Kuwait is currently focusing on reducing the economic dependency on oil revenue. According to the Organization of the Petroleum Exporting Countries (OPEC), the energy sector of Kuwait accounts for around 60% of the country’s gross domestic product (GDP) and nearly 95% of its export revenue. Owing to this reason, economic diversification has become the need of the hour due to the rising global focus on renewables. To decrease its reliance on the energy sector, the nation is focusing on escalating private investments in the construction, tourism, and hospitality sectors.

As a part of this economic diversification, the country is constantly rolling out new infrastructure development plans. Heavy investments are being made in the construction of residential units, malls, and industrial and educational facilities. A spike in the construction activities will amplify the need for facility management services in Kuwait, which is why real estate development companies in the country are also introducing their facility management affiliates. Owing to such reasons, the Kuwait facility management market will progress at an 8.3% CAGR during 2020–2030, which is why market value will reach $2,057.5 million by 2030 from $958.2 million in 2019.

Additionally, the growth of the hospitality sector on account of the expanding tourism sector will escalate the adoption of facility management services in the coming years. The growing tourism industry is creating a requirement for clean premises, which is leading to the widescale adoption of such services in the country. The government is encouraging private investments, amplifying international promotion campaigns, constructing new tourist places, and expanding the airport capacity to boost the country’s tourism sector.

The Kuwait facility management market is characterized by the presence of several companies that are focusing on winning contracts to gain an edge over their competitors. Some of the leading service providers hustling for contracts include United Facilities Management, Al-Awsat United Real Estate Co., Kharafi National for Infrastructure Projects Developments Construction and Services S.A.E, Al Mazaya Holding Company, Refrigeration Industries and Storage Company, O&G Engineering W.L.L., EcovertFM Kuwait, R&E Petroleum Co., PIMCO, and Fawaz Trading & Engineering Services Co. W.L.L.

Thus, the increasing emphasis of the government on infrastructure development and tourism industry’s growth will generate a high requirement for facility management services in the coming years.

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How Are Governments Boosting Adoption of Facility Management Services in the Gulf?

The Gulf Cooperation Council (GCC) facility management market advance is propelled by the factors such as the soaring demand for facility management services for industrial units, commercial and residential buildings, and civil infrastructure units, and the increasing desire of governments to develop other sectors through plans like the Saudi Vision 2030, the U.A.E. Vision 2021, the Kuwait National Development Plan, and the Qatar National Vision 2030. These factors will, therefore, accelerate the market at a CAGR of 10.1% during the forecast period (2020–2030).

Besides, the magnifying focus on sustainable development is propelling the demand for facility management services in the Gulf region. The member nations are constructing environment-friendly buildings and utilizing green construction materials to attain a green and sustainable future. The unique benefits of green buildings include less emission of volatile organic compounds (VOCs), optimum utilization of natural light, and highly efficient heating, ventilation, and air conditioning (HVAC) systems that have boosted the demand for energy management, an integral part of facility management contracts.

Further, the service category of the GCC facility management market is categorized into property, security, environment management, cleaning, support, and catering. In 2019, the property category held the largest market share, due to the rising requirement for maintaining HVAC systems and electrical and mechanical equipment in newly constructed buildings in the GCC countries. The category is further divided into mechanical and electrical maintenance and HVAC maintenance. The demand for HVAC maintenance services is expected to surge in the coming years, due to the increasing usages of HVAC systems.

In recent years, Saudi Arabia has generated the highest demand for facility management services, due to the growth in the tourism and infrastructure sectors. Besides, the drifting focus of the Kingdom from the oil & gas sector to the construction industry has increased the adoption of these services in residential, commercial, and industrial units. Furthermore, P&S Intelligence projects that the market in Saudi Arabia will witness a high growth in future, owing to its key real-estate plans, such as Red Sea Project, Amaala, and Al Widyan.

Thus, the growing focus on infrastructure development and the rising number of green buildings will fuel the demand for these services in the foreseeable future.

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How is Automotive Industry Contributing toward Surge of Global Pour Point Depressant Market?

Crude oil includes wax that has the tendency to solidify within the temperature range of 5–10 oC. High content of n-aliphatic hydrocarbon chains in the crude oil leads to the crystallization of n-paraffin crystals that amplify with reduction in temperature. Formation of paraffin, thereby, reduces the fluidity of oil. To boost the flow of crude oil, lubricant manufacturers use flow improvisers or pour point depressants (PPDs) as chemical additives while transporting such oils at temperatures below which wax starts to appear.

The automotive sector requires the largest quantity of PPDs for the production of lubricants used in vehicles. Largescale manufacturing of automobiles in countries, such as Brazil, India, Indonesia, and Thailand, will assist the pour point depressant market to advance at a CAGR of 3.7% during 2017–2023. The market stood at $1,487.2 million in 2016 and has the potential to reach $1,902.3 million by 2023. Apart from this, the lubricant industry also deploys a significant volume of PPDs as they prevent the formation of wax crystal in oil, at low temperatures.

Owing to the increasing usage of PPDs in the automotive and lubricants industries, companies such as Clariant AG, ALTANA AG, Akzo Nobel N.V., Evonik Industries AG, The Lubrizol Corporation, and Chevron Corporation have been acquiring other players to boost the production of PPDs. For example, ALTANA AG acquired Addcomp Holland BV, a Dutch developer and producer of unique polymer additive solutions, in July 2019. The Dutch enterprise will be integrated into the plastic additives business line of BYK Additives & Instruments, the largest division of ATLANTA AG. 

According to P&S Intelligence, the Asia-Pacific pour point depressant market will demonstrate the fastest growth in the foreseeable future, globally. This will be primarily due to the growth in end-use industries in emerging economies of the region. Moreover, the increasing production of automobiles in regional countries, such as India, China, Indonesia, and Thailand, will boost the consumption of PPDs in the coming years. Additionally, the rapid urbanization and the robust development in the infrastructure sector in APAC will boost the utilization of these depressants in the future.

Thus, with the rising production of vehicles and the expanding oil & gas sector, the application and demand for PPDs will rise in the foreseeable future.

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How Are Mechanical Properties of Polyimide Films Fueling Their Consumption in Industries?

Polyimide (PI) films are made of a polymer of imide monomer, known as, polyimide. These films are widely used in the production of heat resistant electronics components, such as pressure-sensitive tape, flexible printed circuit (FPC), and wires, due to their exceptional chemical resistance, high dielectric constant, and excellent temperature resistance. In addition, these films are also used in aerospace engineering and photovoltaics domain, owing to their high heat resistance, low thermal expansion, and great mechanical strength. 

Other properties of polyimide films such as low weight, excellent tensile strength, flexibility, durability, water sorption, and damp-proof usage also make them viable for the electronics, industrial, aerospace, military, and medical sectors. Moreover, the cost-effectiveness and cut-through resistance characteristic of such films have led to their largescale usage in these industries. Owing to these reasons, the polyimide films market is expected to progress at a CAGR of 10.1% during forecast period. The market was valued at $1,850.0 million in 2016 and it is projected to reach $3,608.3 million by 2023.

According to P&S Intelligence, Asia-Pacific consumed the highest quantity of PI films in the past, and it is expected to adopt these films at the fastest pace in the upcoming years. This can be attributed to the burgeoning demand for PI film-based flexible electronic devices in the region. As the manufacturing facilities of foundries and semiconductors are the major end-users of PI films, the expansion of these production units in Japan, Taiwan, and China will augment the usage of these films in the region in the coming years.

Thus, the soaring usage of PI films in the electronics, aerospace, and automotive sectors, owing to their excellent chemical, mechanical, and thermal characteristics, is augmenting their production across the world.

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Why Are Paints and Coatings Manufacturers Relying on Silane?

Silane is an inorganic compound, specifically a pyrophoric, colorless, toxic gas with a repulsive smell, which acts as a precursor to silicon element. Moreover, it has the ability to offer excellent resistance to chemicals, ultraviolet (UV) rays, and water and outstanding adhesion, which make it suitable as an ingredient for paints. Thus, the need for silane has been increasing in recent times in the paints and coatings industry.

Moreover, the requirement for paints and coatings is itself increasing across the world primarily due to the surging production of automobiles in emerging economies, such as India, Brazil, Indonesia, Thailand, and Malaysia. Therefore, the silane market is projected to grow at a CAGR of 4.3% during forecast period. According to P&S Intelligence, the market is expected to generate $2,047.0 million revenue in 2023 as compared to $1,577.9 million in 2017.

The end-use industries are using different types of silanes, such as alkyl, methacrylate, sulfur, vinyl, amino, epoxy, and mono/chloro. Globally, the usage of amino silane is rising rapidly due to its ability to improve the chemical bonding property of resins, which are used in inorganic fillers and reinforcing materials. Moreover, this silane is also widely used in the paints and coatings industry as it reacts well with water and offers better aesthetic and functional properties.

Since vehicle production and construction activities are the widest in the Asia-Pacific (APAC) region, it led the market for silane in the past, and it is expected to witness the same trend in the foreseeable future. This can be ascribed to the high-volume application of the gas in the manufacturing of paints and coatings, adhesives and sealants, and rubber and plastics. In addition, the construction sector in APAC is observing significant growth due to the heavy investments by the governments of the regional countries to deliver affordable housing, which, in turn, boosts the demand for silane.

Thus, the burgeoning consumption of paints and coatings and growing construction sector will propel the adoption of silane in the coming years.

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Increasing Prevalence of Food Poisoning Fueling Demand for PVDF Membranes

The increasing incidence of diseases and health issues, due to the consumption of toxic food items and beverages, is pushing up the requirement for polyvinylidene difluoride (PVDF) membranes across the world. This is because this membrane assists in filtering out the toxic materials present in the food items and beverages. Moreover, these membranes are extensively used for removing spoilage organisms and contaminants from foods and beverages and for brewing beer. 

Additionally, these membranes are heavily used in the water treatment and pharmaceutical industries, on account of their ability to efficiently filter products such as proteins and preservatives, due to their excellent retention and low protein binding characteristics and high flow rates. Due to these factors, the demand for this membrane is mushrooming globally, which is, in turn, driving the expansion of the global market for polyvinylidene difluoride membrane. Hydrophobic and hydrophilic are the two most widely used types of membranes.

Additionally, the expansion of the water and wastewater treatment industry in the region over the last few years also contributed toward the growth of the North American PVDF membrane market. On the other hand, in the forthcoming years, the demand for these membranes will soar in Asia-Pacific (APAC), as per the estimates of the market research company, P&S Intelligence. This will be because of the surging requirement for membrane separation technologies in the water treatment industry in the region.

Hence, it can be said with confidence that the demand for PVDF membranes will shoot up in the coming years, due to the rising requirement for advanced membrane separation technologies in the food and beverage and water treatment industries for removing impurities. 

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Self-Levelling Concrete Sales Expected To Explode in Asia-Pacific in Coming Years

Due to the various advantages of self-levelling concrete over the conventionally used floor levelling concrete, it is increasingly being preferred across the world. Some of these advantages are its eight times faster setting characteristic than the traditional floor levelling concrete and its property of becoming suitable to be walked one a few hours after setting. Due to these characteristics, this material is increasingly being used in various residential and commercial applications.

Additionally, the surging demand for repairment and renovation of hospitals, malls, offices, and schools is also pushing up the requirement for the material in the commercial sector. This is, in turn, causing a sharp surge in the global market for self-levelling concrete. Self-levelling concrete consists of a mixture of water and powder having an exclusive flow viscosity that allows it to spread on its own before setting. Toppings and underlayment are the two main types of self-levelling concrete used globally.

One of the major trends currently being witnessed in the industry is the huge improvements being made in the existing concrete materials. These improvements are aimed at reducing the material’s requirement for high water consumption, increasing its tensile strength, eliminating the need for experts for its handling, and enhancing its durability so that its usage doesn’t lead to the formation of cracks in floor coverings and the opening of floor joints. 

Hence, it is safe to say that the demand for self-levelling concrete will shoot up in the upcoming years, primarily due its various advantages over the traditionally used concrete and the increasing construction and infrastructural development activities all over the world. 

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Growing Vehicle Sales Driving Organic Light-Emitting Diode Materials Market

With the surge in the demand for organic light emitting diode displays in smartphones, the sales of OLED materials are growing rapidly across the world. Nowadays, people are preferring smartphones equipped with high quality displays that can be integrated with OLED films. As more and more consumers are preferring electronic products equipped with features such as camera, internet, and multimedia, on account of their surging disposable income, manufacturers are increasingly incorporating OLED displays in smartphones.

Apart from the above-mentioned factor, the rapid technological advancements and innovations being made in the electronics industry are also creating lucrative growth opportunities for the OLED materials producing companies all over the globe. In recent years, there have been many technological advancements in electrodes, silver nanowires, hybrid transparent electrodes, grapheme, and carbon nanotubes and the future years are predicted to witness even more such advancements, which will create a huge demand for OLED materials. 

Additionally, the growing usage of these materials in the automotive industry is also fueling their sales across the globe. Due to these factors, the global organic light emitting diode (OLED) materials market is exhibiting rapid expansion. OLED is basically a light emitting diode that is organic in nature and comprises an emissive electroluminescent layer which emits light when electric current falls on it. OLED displays can e driven by active matrix (AMOLED) or passive matrix (PMOLED) control schemes.

Geographically, the demand for OLED materials was observed to be the highest in the Asia-Pacific (APAC) region in the past years. This was because of the extensive usage of the OLED technology by various companies, due to the high consumer preference for high-definition displays in the region. Additionally, the aggressive marketing and advertising campaigns launched by the prominent industry players also contributed toward the high sales of OLED materials in the region in the past years. 

Hence, it can be said with full confidence that the demand for OLED materials will surge sharply across the world in the coming years, primarily because of the growing requirement for OLED displays in televisions and smartphones.

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

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How Is Packaged Food Consumption in APAC Augmenting Printing Ink Use?

Printing inks are pastes or liquids that are used to color a surface to produce text, a design, or an image. These inks contain dyes or pigments that are widely used to color newspapers, cardboard, ceramic tiles, and books and magazines.  The dyes or pigments of these inks are mixed with water, oil, or solvents to form liquids or pastes. Such inks are used in the labeling and packaging, publication, and commercial printing applications all over the world.

The surging consumption of packaged food items, on account of the changing lifestyle and increasing work pressure, will steer the APAC printing inks market at a CAGR of 4.6% during 2018–2023. According to P&S Intelligence, the market has the potential to reach $7,000.2 million by 2023 from $5,344.1 million in 2017. Moreover, the escalating gross domestic product (GDP) of APAC nations, soaring disposable income of people, and booming youth population will fuel the consumption of packaged food items, which is a key application area for printing inks.

Over the last few years, flexography inks have replaced traditional inks due to the growth of the food and beverage, cosmetics, printing, and packaging industries. Flexography inks offer more printing options, through an array of colors, than traditional inks. Unlike traditional inks, flexography inks can be used on non-absorbent materials. Moreover, the growing awareness about high-quality flexible packaging and booming sales of packaged consumer products, owing to the soaring disposable income and changing lifestyles, are fueling the use of printing inks in APAC.

In recent years, Indonesia, China, and India have emerged as the leading consumers in the APAC printing inks market owing to the rapid commercialization and industrialization in these nations. Moreover, the improving lifestyle of the people of these countries will augment the need for printing inks due to the rising consumption of packaged food products and consumables. Among APAC nations, China consumes the highest quantity of such inks due to the burgeoning demand for packaging and paper media and escalating literacy rate in the country.

Thus, the rising uptake of packaged food items and growing packaging sector in APAC will boost the consumption of printing inks in the region.

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Surging Oil & Gas Exploration & Production Fueling Global Sales of Centralizers and Float Equipment

The recovery in the global crude oil prices is one of the major factors responsible for the burgeoning sales of centralizers and float equipment across the world. With recovery in global crude oil prices since the middle of 2016, several oil and gas organizations around the world are launching extensive oil and gas exploration and production (E&P) activities. For example, British Petroleum (BP) plc launched Mad Dog oil field operations’ second phase. 

Similarly, exhaustive plans for developing the Penguins Field in the North Sea were announced by the Royal Dutch Shell plc. Additionally, the rapid economic progress of several countries is also propelling the requirement for fossil fuels in order to serve the needs of electricity generation, domestic transportation, and various other allied industries. The global energy consumption is predicted to skyrocket, which will, in turn, fuel upstream E&P activities in the future years.

According to the estimates of the Organization of Petroleum Exporting Countries (OPEC), the worldwide oil demand is predicted to grow from 95.4 million b/d to 111.1 million b/d from 2016 to 2040. This mushrooming requirement for oil and gas products will propel the sales of centralizers and float equipment in the forthcoming years. Due to these factors, the global centralizers and float equipment market is set to exhibit lucrative growth in the coming years.

Geographically, the market for centralizers and float equipment registered the highest growth in North America in the past years, as per the observations of P&S Intelligence, a market research company based in India. This was credited to the fact that North America has historically been the world’s biggest oil and gas producing region. Moreover, the huge investments being made in oil and gas E&P activities will boost the sales of centralizers and float equipment in the region in the upcoming years.

Hence, it can be said with surety that the demand for centralizers and float equipment will surge all over the world in the forthcoming years, primarily because of the recovery in crude oil prices and the increasing number of oil and gas exploration and production activities in various countries around the world.

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Demand for Fatty Acid Esters Growing due to Increasing Need for Biofuels

A number of factors, such as the rising consumption of fatty acid esters in the personal care & cosmetics industry, surging awareness of bio-based lubricants, low cost of these esters, and their several environmental benefits, are projected to drive the growth of the fatty acid esters market at a CAGR of 4.6% during the forecast period (2020–2030). According to P&S Intelligence, the market generated revenue of $2,240.9 million in 2019, and it is expected to reach $3,688.9 million by 2030.

One of the major factors driving the demand for fatty acid esters is the growing awareness of the benefits of bio-based lubricants. Due to their excellent lubricity, low emission of toxic pollutants, and biodegradability, bio-based fatty acid esters are being increasingly used as lubricants in hydraulic, metal cutting, and automotive applications. Additionally, these environment-friendly esters are the best alternatives to the conventionally used petroleum-based lubricants, which is why they are rising in preference in numerous industries.

The product type segment of the fatty acid esters industry is categorized into oleates, tall-oil fatty acid (TOFA)-based esters, palmitates, pelargonates, laureates, dimerates, stearates, and others. Among these, the oleates category accounted for the largest volume share in the market in 2019. This is attributed to the high-volume usage of these esters in the production of drugs, lubricants, and personal care products due to their beneficial properties, such as excellent lubrication, low toxicity and volatility, and cold-flow properties. 

Globally, the fatty acid esters market is predicted to record the fastest growth in Asia-Pacific (APAC) from 2020 to 2030. This is primarily ascribed to the flourishing personal care industry in the various APAC nations such as Indonesia, Malaysia, and India and the large-scale utilization of fatty acid esters in the personal care industry, owing to their applications in various skin care products such as face creams, moisturizers, and body lotions. Furthermore, the rising popularity of bio-based and organic personal care products is contributing significantly toward the growth of the fatty acid esters market in the region.

Therefore, it can be safely said that the utilization of fatty acid esters will increase tremendously throughout the world in the upcoming years, primarily because of the mushrooming popularity of bio-based products and lubricants across the world. 

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North America to be Largest Critical Power and Cooling Solutions Market

The increasing popularity of cloud computing and digitalization and the burgeoning requirement for improving cooling efficiency in data centers are some of the major factors propelling the demand for critical power and cooling solutions across the world. The mushrooming adoption of cloud computing and digitalization is fueling the development of data centers. Moreover, the existence of poor grid infrastructure is powering the demand for proper backup power sources that can protect electrical equipment from the consequences of grid power fluctuations. 

Due to the above-mentioned factors, the popularity of these solutions is rising sharply across the globe. This is driving the progress of the global critical power and cooling solutions market. Critical power and cooling solutions consist of generators, inverters, converters, uninterrupted power supply (UPS), transfer switches, breaker transfer pairs, power transfer switching, generator paralleling breakers, air conditioning, switch transfer pairs, chilling units, liquid cooling solutions, cooling towers, economizer systems, pumping units, control systems, air coolers, and humidifiers.

These systems provide protection against hardware downtime and damage and data loss. In addition to this, these systems enhance the performance and the cooling efficiency of various devices. Because of these reasons, these equipment are extensively used in commercial, industrial, and residential sectors. According to the findings of P&S Intelligence, a market research company based in India, the critical power and cooling solutions market recorded the highest growth in North America in the past years.

Apart from region-wise segmentation, the market is also classified on the basis of type. Under this segmentation, the main categories are critical power and cooling solutions. Between these, the critical power category will demonstrate the highest growth in the future years. When end use is taken into consideration, the critical power and cooling solutions market is categorized into commercial, transportation, information technology (IT) and telecommunication, and industrial. Amongst these, the commercial category registered the highest market growth in the past.

Hence, it can be said with full surety that the demand for critical power and cooling solutions will surge sharply all over the world in the coming years, primarily because of the rising requirement for backup power in data centers.

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How Have Power Cuts Influenced Adoption of Diesel Gensets in U.S.?

The U.S. has recently observed a significant rise in the number of data centers, due to the adoption of advanced technologies like 5G, the internet of things (IoT), and edge computing. The deployment of these technologies requires additional storage space for the high-volume data generated by them. Therefore, the extensive investments in the development of data centers will propel the installation of diesel gensets in the U.S., as these facilities require a reliable power backup facility, which is offered by generators.

Additionally, the growth of the construction industry in the country will drive the U.S. diesel genset market at a CAGR of 7.2% during the forecast period (2020–2030). The market was valued at $2,187.4 million in 2019, and it is expected to reach $3,797.6 million by 2030. The U.S. Department of Transportation (US DOT), in December 2018, announced the second round of the INFRA discretionary grants program for the infrastructure sector of the country, which has been, since then, steadily pushing up the sales of diesel generator sets in the country, both during construction and after the commissioning of the projects.

The U.S. diesel genset market is categorized into above-500 kilovolt-Amperes (kVA), 400–499 kVA, 300–399 kVA, 200–299 kVA, 150–199 kVA, 100–149 kVA, 70–99 kVA, 45–69 kVA, 25–44 kVA, 15–24 kVA, and 7–14 kVA, on the basis of power rating. Among these, the 7–14 kVA category accounted for the largest market share in 2019, as these diesel generators are installed in a large number in residential units and commercial complexes like retail outlets, telecom towers, and small-scale offices due to their suitability for small-to-medium-size spaces. Owing to such advantages, these gensets are also expected to witness the highest sales in the forecast years.

Residential societies, retail shops, manufacturing plants, and healthcare facilities are some major end users in the United States diesel genset market. These spaces use diesel generators to deal with power cuts, which are increasing in number owing to the aging electricity grid infrastructure and adverse weather conditions. In recent years, the country has witnessed numerous power outrages due to the overloading and aging of power grid systems. According to the Energy Information Administration (EIA), the nation registered around 127 instances of power outages in 2018 in comparison to 95 in 2017.

Therefore, With an increase in the number of data centers and commercial construction activities, the deployment of diesel gensets is surging significantly in the U.S.

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Why Is Lump Charcoal Used as Cooking Fuel in Philippines?

Commercial and residential installations in the Philippines opt for charcoal owing to its traditional favorability, affordability of stoves and accessories, easy availability than coconut shells and wood, low cost, and taste favorability in comparison to other fuels. Low-income households, as well as upper-income groups, witness a high adoption of this conventional fuel source owing to the aforementioned reasons. Moreover, the surging requirement for products that create activated carbon will boost the usage of charcoal in the coming years.

Moreover, the changing food preferences of the people will drive the Philippines charcoal market at a CAGR of 2.9% during the forecast period (2020–2030). The market generated revenue of $500.0 million in 2019, and it is expected to reach $688.2 million by 2030. Individuals are increasingly consuming barbecued food owing to the changes in their taste preferences and adoption of new cooking styles. As a result, the installation of live barbecue stations at restaurants and households will propel the demand for charcoal in the foreseeable future.

The type segment of the Philippines charcoal market is classified into lump charcoal, charcoal briquettes, Japanese charcoal, sugar charcoal, and others. Among these, the lump charcoal category generated the highest revenue in 2019 owing to the high-volume consumption of this variant in commercial and residential units to serve as cooking fuel. This is due to the low-cost dynamics, better performance, and relative ease of processing lump charcoal as compared to other types. Moreover, the low ash production and easy burning of lump charcoal have led to its increasing consumption in the country.

In recent years, key players in the Philippines charcoal market, such as BF Industries Inc., GCF Multi Products Development Corporation, Cenapro Inc., Premium A.C. Corporation, Celebes Agricultural Corporation, MacKay Green Energy Inc., and Jacobi Group, have expanded their product portfolio to meet the surging demand. Other players are mostly small-and medium-scale businesses offering green charcoal to adhere to the environmental norms laid down by the government and international organizations. The presence of a large number of small companies also makes the market fragmented, thus offering the established companies opportunities to make inroads.

Thus, the easy availability and low-cost of charcoal will fuel the demand for this conventional source in the future. Moreover, the surging reliance on traditional stoves and new cooking methods, such as barbecue and grilling, will amplify the consumption of this carbon-rich product in the country in the coming years.

Source: www.psmarketresearch.com

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Why will Polypropylene Sales Surge in Asia-Pacific in Coming Years?

The expansion of the packaging industry is fueling the demand for polypropylene across the world. This is because polypropylene is extensively used in the packaging industry. As per PlasticsEurope, the global plastics production in 2018 stood at 359 million tons. This was primarily because of the huge demand for plastics in the packaging and building & construction industries. Further, out of the various types of plastics, the sales of polypropylene were the highest across the world.

This was primarily due its high requirement in food packaging, pipes, banknotes, automotive parts, hinged caps, sweet & snack wrappers, and microwave containers. Additionally, many brand owners and retailers are increasingly focusing on using sustainable and eco-friendly packaging materials made from polypropylene resin because of the surging customer requirements for environment-friendly packaging materials. Thus, the ballooning requirement for sustainable packaging is propelling the demand for polypropylene all over the world. 

Hence, with the mushrooming consumption of nonwoven fiber, the demand for polypropylene is shooting up across the world, thereby, fueling the growth of the global polypropylene market. As a result, the market value is predicted to grow from $122.7 billion in 2019 to $226.8 billion by 2030. Furthermore, the market will progress at a CAGR of 5.7% from 2020 to 2030. Depending on application, the market is categorized into blow molding, fiber, raffia, film & sheet, and injection molding.

Market Players Engaging in Facility and Geographical Expansions for Increased Revenue

In order to up their share in the polypropylene market, companies offering this plastic are initiating geographical and facility expansions, to seize the opportunity to:

• Increase their customer base in North America and Europe

• Augment their recycled polypropylene output, to sell it to automakers

• Offer the plastic to fuel-efficient vehicle and packaging material producers

• Meet the increasing demand for polypropylene, with a higher production capacity

• Strengthen their supply of polypropylene and ethylene derivatives

The most prominent players in the global polypropylene market include Sinopec Group, LyondellBasell Industries B.V., PetroChina Company Limited, SABIC, Reliance Industries Limited, Braskem S.A., Exxon Mobil Corporation, Total S.A., Borealis AG, Formosa Plastic Corporation, and INEOS Group Holdings S.A.

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Which Are Most-Widely Consumed Specialty Chemicals?

Chemicals produced to suit a particular purpose are generally referred to as specialty chemicals. Thus, with the growth in a range of industries, the demand for such products is increasing too. For instance, with the burgeoning environmental concerns, countries around the world are formulating stringent emission control regulations. As a result, the demand for fuel additives, including diesel exhaust fluid, also called AdBlue, is rising. Other common specialty chemicals used in the automotive and transportation industry are pour point depressants, coolants, friction modifiers, and octane boosters.

Thus, with the growth in the automotive industry, the specialty chemicals market size will increase to $980,423.7 million by 2030 from $639,935.8 million in 2019, at a 5.5% CAGR during 2020–2030 (forecast period). Other types of specialty chemicals are agrochemicals, specialty coatings, construction chemicals, surfactants, polymer additives, food additives, electronic chemicals, plastic additives, cleaning chemicals, paper & textile chemicals, lubricant & oilfield chemicals, adhesives & sealants, advanced ceramic materials, water treatment chemicals, rubber processing chemicals, and mining chemicals.

Currently, the highest consumption of all types of specialty chemicals is witnessed in the Asia-Pacific (APAC) region, and the reasons are plenty. APAC is home to the largest manufacturing industry in the world, which creates a high demand for an array of lubricants. Similarly, the high production and sales of automobiles in the region lead to a high-volume consumption of fuel additives and other specialty chemicals in the transportation industry. Moreover, the region also accounts for the highest population and scale of farming activities, which is why agrochemicals are really important here.

As a result, the biggest trend in the specialty chemicals market presently is the shift in the production of such materials to the region. Encouraged by the vast sales opportunities here, chemical companies based in North America and Europe are setting up plants in APAC countries, including India, Vietnam, and China. Moreover, these countries have less-stringent environmental regulations than the Western world, which offers more peace of mind to chemical companies. Similarly, raw materials and labor can be sourced cost-effectively in APAC, which allows market players to save on operational costs.

Thus, with the growth of the end-use sectors, the consumption of various types of specialty chemicals will boom.

Source: www.psmarketresearch.com

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How Is Marine Sector Steering India Metal Polish Market Growth?

Factors such as the rising consumption of metal polish in the marine sector of India, on account of the surging maritime trade; and increasing realization about enhancing the aesthetic appearance of metallic surfaces, due to the mounting disposable income, will drive the Indian metal polish market at a CAGR of 4.6% during the forecast period (2020–2030). Owing to these factors, the market is expected to grow from $26.51 million in 2019 to $37.10 million by 2030.

The growth of the Indian metal polish market can be attributed to the rising preference for aesthetic metallic products, owing to the surging disposable and per capita income of the Indian citizens. Improved living standard has boosted the demand for durable and aesthetically enhanced products. The usage of metal polishes on stainless steel, brass, aluminum, chrome, and copper products helps in removing corrosion, restoring gloss, and smoothening the surfaces of these products.

The product type segment of the Indian metal polish market is classified into paste, liquid, and others. Among these, the paste category accounted for the largest market share in 2019 and it is expected to maintain its dominance in the market in the forecast years as well. This can be ascribed to the easy use and high suitability of pastes for polishing purposes in the marine, automotive, and residential industries.

Thus, the rising demand for aesthetic and durable products in India and the increasing advancements in polishing methods will augment the consumption of metal polishes in the country, in the foreseeable future.

Key Findings of India Metal Polish Market Report

• Department/convenience stores most-profitable distribution channel for players

• Metal polishing methods in India undergoing technological advancements

• Demand for metal polishes to rise fastest for usage on guns

• Automotive sector largest end user of metal polishes in India

• Market consolidated in nature due to presence of few established players

• 3M Company supplies much of metal polishes across India

Source: www.psmarketresearch.com

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What Is the Role of Cosmetics Industry in India Industrial Aerosol Market Growth?

The Indian industrial aerosol market is expected to register a CAGR of 5.6% during the forecast period (2020–2030), on account of growth drivers such as burgeoning demand for aerosols in automotive factories and the aftermarket, surging number of government initiatives to promote research and development (R&D), and growing Indian manufacturing sector. The market generated $70.95 million in 2019 and it is projected to reach $115.85 million by 2030.

Another prime factor driving the Indian industrial aerosol market growth is the expansion of the manufacturing sector in the country. The IBEF propounds that the expansion of the Indian manufacturing sector is attributed to the spurring demand for consumer devices, electronic appliances, and electrical machinery and equipment. Furthermore, the Ministry of Commerce and Industry states that the cosmetics and beauty products sector is expanding, due to the rising per capita income of people, resulting in higher personal spending. This, in turn, is also contributing to the market growth.

The application segment of the Indian industrial aerosol market is categorized into spray paints, cleaning, and maintenance. In 2019, the spray paints category generated the highest revenue in the market and it is expected to retain its dominance in the forecast period. This can be attributed to the increasing purchasing power of the Indians, expanding automotive aftermarket, and growing manufacturing sector. Whereas, the maintenance category will register the fastest growth throughout the forecast period, due to the spurring demand for aerosols from automobile workshops for the maintenance of machinery.

Owing to the presence of multiple players, the Indian industrial aerosol market has a fragmented nature. Players such as Pidilite Industries Limited, Zenith Spray and Aerosols Private Limited, Indian Aerosols Pvt. Ltd., Aerosol Specialities (India), OKS Speciality Lubricants India, PRIME AEROSOLS, Aerol Formulations Private Limited, S. S. Aerosols Pvt. Ltd., Twin Tech India Pvt. Ltd., and Renuka Multichem, are producing high volumes of aerosols to be consumed by the automotive, cosmetics, and manufacturing sectors of the country.

Thus, the advancement of the automobile, cosmetics and personal care, and manufacturing sectors will make a significant contribution to the market in the future.

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Organic Aerosol Products Reducing Harmful Effects of Cosmetics

The rapid industrialization in developing countries, such as Indonesia, China, Thailand, Brazil, and India, has increased the consumption of aerosol in the manufacturing sector. The expansion of this sector is attributed to the huge investments and sudden shift of manufacturing base, owing to the easy availability of raw materials and cost-effective labor, in these emerging economies. The household, personal care, medical, automotive, industrial, food, and paints and coatings sectors in these countries utilize aerosol in high amount in the production of numerous products.

Moreover, increasing shift toward herbal or organic aerosol products will fuel the aerosol market at 6.4% CAGR during 2020–2030. The market size is expected to rise from $81.1 billion in 2019 to $149.7 billion by 2030. Manufacturers of personal care and cosmetic products are utilizing organic aerosol instead of chemicals to reduce harmful effects on the skin. The harmful chemicals can lead to skin disorders like blemishes, acne, and rashes. Owing to these problems, customers are switching to items that are prepared from natural and herbal floral extracts, blended with essential oils. 

In recent years, several players, such as Akzo Nobel N.V., Grillo-Werke AG, Arkema Group, Emirates Gas LLC, Linde Plc, Diversified CPC International, Honeywell International Inc., Royal Dutch Shell p.l.c., and Henkel AG & Co. KGaA, have launched an array of novel and advanced products and collaborated with other companies to gain a competitive edge in the market. For instance, in July 2020, Honeywell International Inc. entered into a collaboration with Vesismin Health, to offer a non-flammable, environmentally preferable, and easy-to-use aerosol solution to disinfect areas against viruses, fungi, and bacteria. 

On the other hand, during the forecast period, the Asia-Pacific aerosol market will witness the fastest growth in the forecast years. This can be ascribed to the surging awareness regarding cosmetic products such as antiperspirants and deodorants, hair care items like conditioners and shampoos, men’s grooming products, and bath and shower related items like liquid soaps and shower gels. Besides, the increasing consciousness about physical appearance and a notable rise in disposable income will act as catalysts for the market growth in the region. 

Thus, the rising preference for organic cosmetics will boost the consumption of aerosol in the coming years.

Source: www.psmarketresearch.com

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Demand for Methanol Climbing in Asia-Pacific

The increasing usage of methanol as an alternative fuel in automobiles, to preserve the environment, and in the production of petrochemicals, such as dimethyl terephthalate (DMT), dimethyl ether (DME), formaldehyde, olefins, biodiesel, acetic acid, and solvents, will drive the global methanol market growth during the forecast period (2021–2030).

However, the outbreak of the COVID-19 pandemic has led to a decline in the operations of the methanol market. Government-imposed lockdowns, to contain the spread of the coronavirus, had a negative impact on the automotive, chemical, and construction sectors. As these industries are the major consumers of methanol, their slowdown led to a tremendous decline in the demand for methanol. Moreover, border closures in 2020 disrupted the supply chain, which further decreased the consumption of the chemical.

The natural gas category, within the feedstock segment, will demonstrate the fastest growth in the methanol market during 2021–2030. As compared to other feedstocks, methanol production from natural gas is much easier and environment-friendly. Additionally, the production process is a thermodynamic and kinetic reaction that occurs at a low temperature and pressure.

The Asia-Pacific methanol market will register the fastest growth in the coming years. This will be due to the expanding chemical and construction industries, which employ a large quantity of methanol. Moreover, the rising usage of methanol as biofuel in the automobile industry will boost the market growth in the region.

Key players in the global methanol market, such as Methanex Corporation, OCI N.V., QAFAC, BASF SE, OQ SAOC, LyondellBasell Acetyls LLC, Celanese Corporation, Mitsubishi Gas Chemical Company Inc., SABIC, and Petroliam Nasional Berhad (PETRONAS), are focusing on expanding their facilities to boost their production capacity.

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Growing Construction Sector To Take Saudi Arabia Facility Management Market to $87,216.0 Million by 2030

The smart city initiative launched by the Saudi government aims to boost infrastructure development in urban areas. Due to the subsequent surge in construction activities, the Saudi Arabian facility management market value is expected to increase from $31,264.1 million in 2020 to $87,216.0 million by 2030, at an 11.1% CAGR between 2020 and 2030. Among the under-construction mega projects in the kingdom currently are AMAALA, QIDDIYA, King Salman Park, Red Sea project, Diriyah Gate, Jabal Omar, King Abdullah Financial District, and NEOM City.

During the COVID-19 pandemic, a major part of the country, including its tourist attractions, religious places, hospitality units, commercial spaces, and many factories, was shut down. This negatively impacted the Saudi Arabian facility management market, as the shutting down of end-user facilities killed the demand for such services.

Saudi Arabia Facility Management Market Segmentation Analysis

In the years to come, the cleaning service category will witness the fastest growth in the Saudi Arabian facility management market. Due to the COVID-19 pandemic, the awareness on hygiene has risen massively, since the virus is transmitted via nasal droplets accumulating on hands and objects that haven’t been sanitized.

The highest CAGR in the Saudi Arabian facility management market, under segmentation by type, of 11.9%, is predicted to be seen in the soft services category. Public and private entities in the kingdom are generating an increasing demand for cleaning, catering, security, support, and other non-technical services. This service demand is now being fulfilled by third-party companies, thereby driving the industry.

Presently, the higher revenue in the Saudi Arabian facility management market, on the basis of sector, is generated by the private bifurcation. The kingdom’s efforts to diversify its economy have led to the growth of private-sector companies in the last few years.

The major players in the Saudi Arabian facility management market include Muheel Services LLC, APSG Group, Safari Group, AMNCO, Khidmah LLC, EFS Facilities Services Group Limited, Enova Facility Management, Nesma Trading Co. Ltd., Musanadah Facilities Management Co. Ltd., Al Borj Facility Management, Al Hajry Overseas Co. Ltd., Petrojana, Zahran Holding Company, FMCO, Initial Saudi Group, CBRE Group Inc., Jones Lang LaSalle Incorporated, and Al Yamama Group.

Key Findings of Saudi Arabia Facility Management Market Report

• Property services were demanded most widely historically

• End users to increasingly outsource facility management services

• Growing hospitality sector driving market expansion

• Market players securing service contracts for continued prosperity

• Usage of advanced technologies key trend in industry

• Demand for cleaning services rising fastest

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How Is Expanding Tourism Sector Propelling Facility Management Service Demand in U.A.E.?

The U.A.E. is expected to witness a significant surge in the number of construction activities in the coming years, owing to which the requirement for facility management will increase considerably. Currently, the country has several infrastructure plans under the tender or bidding phase. For instance, Dubai currently has around 4,000 structures, worth $313.2 billion, under construction. Mega infrastructure projects, such as Royal Atlantis Resort and Residences (Palm Jumeirah), Dubai Metro Red Line extension (part of the Expo 2020 preparations), and expanded Container Terminal 4 (Jebel Ali Port), will require facility management services in abundance.

Moreover, the expansion of the tourism sector will fuel the facility management market in U.A.E. at a CAGR of 10.8% during 2021–2030. According to P&S Intelligence, the market size is expected to grow from $14,360.2 million in 2020 to $39,680.8 million by 2030. During the upcoming Dubai Expo 2020 (rescheduled for 2021), the footfall of tourists will grow exponentially. This will, in turn, amplify the need for disinfection services, safety services, security services, and environmental management services in hotels and tourist attractions.

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In the coming years, business firms and corporate houses in the U.A.E. will adopt facility management services at the fastest pace. This will be due to the surging investments in the corporate sector by the government, which reflect the rising focus of the country on economic diversification. Enterprises generate a high requirement for procurement services and other related services, including renting and contract management, for smooth functioning. Other end-users, such as the manufacturing, public administration, education, healthcare, and construction sectors, also use these services in abundance.

Currently, companies in the U.A.E. facility management market are proactively working toward winning large-scale client tenders to increase their revenue. Ejadah Asset Management Group LLC, Adeeb Electrical & Electronic Services Co. LLC, Al Shirawi Facilities Management LLC, Blue Diamond Facilities Management LLC, Tafawuq Facility Management LLC, Engie Cofely, Imdaad LLC, EFS Facilities Services Group Limited, Deyaar Development PJSC, Transguard Group LLC, AG Facilities Solution LLC, Reliance Facilities Management, and Etisalat Facilities Management LLC are some of the most-significant facility management service providers in the country.

Thus, the expansion of the tourism and construction sectors in the U.A.E. will boost the requirement for facility management services in the coming years.

Source: www.psmarketresearch.com

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Boom Expected in Asia-Pacific Lithium-Ion Battery Industry in Near Future

With the mushrooming sales of electric vehicles, the demand for lithium-ion batteries is growing rapidly across the world. Due to the soaring air pollution levels and the fluctuating oil prices, the governments of many countries are implementing policies aimed at augmenting the deployment of electric vehicles. As per the Global EV Outlook 2018, 3.1 million electric passenger cars were sold around the world in 2017. This registered an increment of 57% from the electric passenger car sales recorded in 2016. 

Due to the above-mentioned factors, the demand for lithium-ion batteries is increasing sharply all over the world, which is, in turn, fueling the expansion of the global lithium-ion battery market. As a result, the valuation of the market is predicted to rise from $33,720.8 million in 2018 to more than $106,493.0 million by 2024. Furthermore, the market is predicted to progress at a CAGR of 21.8% from 2019 to 2024.

When type is taken into consideration, the market is divided into lithium-iron phosphate (LFP), lithium nickel manganese cobalt oxide (NMC), lithium cobalt oxide (LCO), lithium manganese oxide (LMO), and lithium nickel cobalt aluminum oxide (NCA). Out of these, the LFP category generated the highest revenue in the lithium-ion battery market in the past years. This was mainly because of the heavy usage of LFP batteries in consumer electronics products and electric vehicles in China.

Depending on application, the lithium-ion battery market is classified into automotive, consumer electronics, medical, aerospace and defense, industrial, and telecom categories. Out of these, the automotive category will demonstrate the fastest growth in the market in the forthcoming years, as per the estimates of P&S Intelligence, a market research company based in India. This will be because of the soaring sales of electric vehicles in various countries, on account of the escalating air pollution levels. 

Therefore, it is quite clear that the sales of lithium-ion batteries will shoot up all over the world in the upcoming years, mainly because of their growing usage in consumer electronics products and the mushrooming deployment of electric vehicles in several countries.

Source: www.psmarketresearch.com

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How Will Wind Towers Increase Wind Energy Potential?

The shift toward renewable sources of energy has led to the widescale installation of wind farms, globally. These farms employ wind turbines that require wind towers for their support. Wind towers are tall structures that hold nacelles and rotors of the turbines and support blades to clear the ground safely. The height of the wind tower is an important factor that determines the efficiency of power generation because the tall tower has lesser turbulence. Additionally, the positioning of wind turbines affects the amount of energy generated because higher capacity turbines require high wind speed that can be attained at a significant height.

Due to the increasing installation of wind power plants and government support for wind energy, the wind tower market is advancing at a CAGR of 7.4% during the forecast period. The market was valued at $26,140.5 million in 2015 and is expected to reach a substantial amount by 2022. Governments across the globe are working toward reducing their dependency on conventional sources of energy. As the wind is one of the most efficient alternatives for fossil fuel-based energy, the wind energy sector is expected to grow significantly during the forecast period. 

Categories under the application segment of the wind tower market include onshore and offshore. Of these, the offshore category is expected to dominate the market during the forecast period. This growth can be ascribed to the increasing offshore activities in the North Sea, the Baltic Sea, and the Atlantic Ocean, and expanding offshore wind capacity. Globally, the European region accounted for the largest market share in 2015, due to the increase in adoption of offshore wind towers in the region.

In the competitive landscape of the wind tower market, the Asia-Pacific (APAC) region generates the maximum revenue, owing to the increasing demand for energy. Additionally, the region holds a huge potential for the substantial growth of the wind energy sector. Among APAC nations, China and India generate high demand for wind towers. According to the 2019 Assessment by the Ministry of New and Renewable Energy, the gross wind power potential of India stands at 302 GW. According to the report, as of March 31, 2019, India had an installed capacity of 35.6 GW and generated nearly 52.66 billion revenue during 2017–2018.  

To tap on the growing opportunities, numerous players have entered the market. The major players in the wind tower market include KGW Schweriner Maschinen-und Anlagenbau GmbH Suzlon Energy Limited, Vestas Wind Systems A/S, General Electric Company, ENERCON GmbH, CS Wind Corporation, WINDAR Renovables, Shanghai Taisheng Wind Power Equipment Co. Ltd., and Siemens AG. Additionally, the market creates a huge opportunity for people specialized in civil engineering, electrical engineering, mechanical engineering, and other fields of manufacturing.

Thus, the increasing need for green and clean energy is driving the demand for wind towers, due to the expansion of the wind energy sector.

Source: www.psmarketresearch.com

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Growing Need for Wastewater Treatment Fueling Water Treatment Chemicals Sales

Around 1.5 million people die of diarrhea each year, and almost 58% of these deaths are attributed to unsafe water supply, says the World Health Organization (WHO). With several initiatives being taken by the organization to raise awareness on safe drinking water, the global water treatment chemicals market, which valued $48,938.1 million in 2019, will cross $85,341.8 million by 2030, at a CAGR of 5.2% between 2020 and 2030.

Despite the shut down of manufacturing plants, the water treatment chemicals market has been somewhat positively impacted by the COVID-19 pandemic. Adequate water intake is said to be a good way to remove toxins from the body, which is why the demand for potable water has risen substantially during this period. Additionally, as per the WHO, washing the hands frequently with soap is one of the best ways to protect oneself from the virus, which is another reason for the high demand for such chemicals at water treatment plants.

The raw water treatment division, based on application, is predicted to observe the highest value CAGR, of 5.8%, in the water treatment chemicals market, in the coming years. Around the world, the necessity of treating groundwater, rainwater, and water from infiltration wells, rivers, seas, and lakes is increasing. Further, the booming population in Africa, Brazil, China, and India is raising the demand for potable water.

In the past, the municipal water treatment classification dominated the water treatment chemicals market, under segmentation by end user. Apart from the burgeoning population, the norms related to the purity standards to be met by municipal water agencies are rather strict in developed countries. These are two of the prime reasons behind the perpetually increasing consumption of water treatment chemicals by municipal bodies.

Mergers and Acquisitions Define Market Competitive Landscape

In order to strengthen their position in the water treatment chemicals market, companies offering such products are merging with or acquiring other associated firms, so that they can:

• Widen their customer base

• Be better placed in the market of different countries

• Augment their water treatment chemical production output

• Create a stronger unified company or business unit

• Expand their manufacturing base

The most important players in the water treatment chemicals market are Ecolab Inc., BASF SE, SUEZ, Kemira Oyj, SNF s.a.s., Solenis LLC, Solvay S.A., Akzo Nobel N.V., The Dow Chemical Company, and Buckman Laboratories International Inc.

Source: https://www.psmarketresearch.com

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Increasing Application Areas of Microfiltration Membranes To Drive their Adoption

Around the world, concerns regarding the consumption of contaminated food and beverages are leading to the implementation of stringent quality control regulations. As a result, the global microfiltration membrane market size is predicted to increase to $7,517.38 million in 2030 from $2,885.57 million in 2019, at a 9.0% CAGR between 2020 and 2030. Such filtration products are used to remove contaminants from food products, especially beverages.

Due to the COVID-19 pandemic, the microfiltration membrane market growth has been hit hard. Lockdowns and movement restrictions around the world have resulted in the closure of manufacturing facilities of not only these membranes but also of end users. Similarly, the restrictions on movement have reduced the supply of microfiltration membranes, thus impacting the market negatively.

Microfiltration Membrane Market Segmentation Analysis

The polyvinylidene difluoride category is expected to dominate the microfiltration membrane market in the coming years, based on material type. High flow rates can be achieved during mobile-phase and solvent-based processes using PVDF membranes. Additionally, as PVDF membranes can easily remove particles from liquid and air streams, they are widely preferred for industrial wastewater treatment and pharmaceutical production applications.

In the past, the microfiltration membrane market generated the higher revenue in the cross-flow filtration bifurcation, on the basis of filtration technology. This technology prevents the accumulation of materials on the surface of the filters, which is why it finds wide usage in the pharmaceutical, food and beverage, and water treatment sectors.

Asia-Pacific has been the largest microfiltration membrane market till now, and it will also grow the most rapidly in the near future. The increasing wastewater treatment and seawater desalination activities and implementation of stringent quality control regulations are driving the product demand in India, China, the Philippines, and Thailand. Further, production plants and research centers are being established in the region by numerous biotechnology and pharmaceutical companies.

Key Findings of Global Microfiltration Membrane Market Report

• Industrial wastewater treatment is the largest application area of microfiltration membranes

• Food and water safety concerns continue to raise the demand for microfiltration membranes

• PVDF remains the most popular material for such products

• Despite the increasing pharma investments during COVID-19, the market is growing slowly in 2020

• The presence of a few major companies makes the market consolidated

• The market consolidation is increasing further because of mergers and acquisitions

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Lightweight Vehicles Adoption To Drive Automotive Adhesives and Sealants Industry Growth

The automotive adhesives and sealants market size is expected to grow from $7,438.2 million in 2019 to $12,646.8 million by 2030, registering 7.0% CAGR during 2020–2030. This can be attributed to the surging demand for lightweight vehicles and rising safety standards and regulations. Currently, the market is observing a shift from spot-welding to new assembly methods. Automakers are employing these methods to create efficient vehicle designs by using coated steels, lighter-gauge metals, non-ferrous metals, and plastics, in their offerings. Thus, the manufacturers extensively use adhesives and sealants to bond these automotive components.

The soaring demand for lightweight vehicles is one of the key growth drivers for the automotive adhesives and sealants market. To cater to this high demand, automakers are making notable investments in research and development (R&D) for developing lightweight automobiles, to maximize their power and speed. The manufacturers across the world are substituting steel fixtures, like bolts and nuts, with structural adhesives that provide exceptional bonding properties. Thus, the rising adoption of these fuel-efficient, lightweight vehicles, will boost the demand for automotive adhesives in the coming years.

Globally, the Asia-Pacific (APAC) region generated the highest revenue for the automotive adhesives and sealants market in 2019. This is due to the rapid economic growth, robust development in urban infrastructure, and high purchasing power of middle-class population of the region. Additionally, automakers of APAC countries are making huge investments to increase their production capacities, due to the easy availability of cheap labor and raw materials, thereby, driving the regional market growth.

Thus, the burgeoning demand for lightweight vehicles and the amplifying customer awareness about reducing carbon emissions and enhancing fuel economy will propel market growth in the coming years.

Factors Contributing to the Growth of Market:

• Need for reducing carbon emissions

• Strict regulations implemented by governments regarding fuel efficiency 

• Increasing requirement for lightweight vehicles

Source: https://www.psmarketresearch.com

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