With Decentralized Power Generation, Distributed Energy Generation Systems Helping Mitigate Power Losses and Carbon Emissions

With the air quality reaching hazardous levels and the carbon emissions rising at alarming rates in several countries, environmental conservation is rapidly becoming a priority for governments all over the world. As a result, they are increasingly taking various initiatives for raising public awareness about the environmental degradation caused due to the usage of fossil fuel-based power and promoting the adoption of renewable and green energy sources such as solar, hydro, biomass, and wind for electricity generation.

This drastic rise in the adoption of green technologies is massively fueling the surge in the demand for distributed energy generation systems across the world. This is mainly because these systems are highly eco-friendly and thus, majorly mitigate the carbon emissions released into the atmosphere during power production. Moreover, the decentralized operation provided by the distributed energy generation systems significantly reduce the power losses that usually occur during transmission from one place to another.

The massive fluctuations in the prices of crude oil and natural gas are propelling the adoption of various renewable energy sources such as biomass, solar, and wind. Because of these reasons, the global distributed energy generation systems market is predicted to exhibit huge growth over the next few years. These systems include a wide array of storage, energy generation and monitoring, and control solutions such as combined power and heat, energy storage, distributed energy management systems, and power generation.

Geographically, the European distributed energy generation systems market is presently very prosperous, as per the findings of P&S Intelligence, a market research firm based in India. The main factors responsible for the large-scale usage of these systems in this region are the huge financial incentives being provided by the governments of several European countries for the adoption of these systems and the soaring energy consumption by the industrial and commercial sectors of the regional countries. 

Hence, it can be said with confidence that the demand for distributed energy generation systems will rise enormously all over the world in the future years, primarily because of the growing adoption of renewable energy and the rising requirement for energy storage and management solutions in order to mitigate power losses during transmission and reduce carbon emissions.

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Why Is Extensive Research Being Carried Out on Dye-Sensitized Solar Cells?

The total installed capacity of solar plants around the world has increased massively from 40,287 Megawatts (MW) in 2010 to 707,494 MW in 2020, as per the International Renewable Energy Agency (IRENA). Considering the depleting reserves of fossil fuels and the air pollution caused on utilizing them, governments are offering incentives and other benefits to entities and individuals producing energy from renewable sources. Moreover, the excess renewable energy can be fed to the grid in exchange for payment as per the prevailing electricity rates.

Due to such initiatives, the dye-sensitized solar cells market value is set to increase to $60,589.4 thousand by 2023 from $28,451.4 thousand in 2017, at a 13.2% CAGR between 2018 and 2023, says P&S Intelligence. Also known as DSSCs, they are a newly developed class of thin-film photovoltaic (PV) cells that are said to produce electricity via a process similar to photosynthesis. The key reasons DSSCs are being extensively experimented upon and readied for the future are their low cost, ease of manufacturing using environment-friendly materials, and potential for a wide application area.

The fastest dye-sensitized solar cells market growth is expected in Asia-Pacific (APAC) in the near future, where governments are taking concrete initiatives to increase the share of renewables in their energy mix. Being extremely polluted, China and India are where these initiatives are being implemented rapidly. As per the IRENA, China already has the world’s largest solar power installed capacity, of 254,354.80 MW in 2020. Moreover, Japan and India rank third and fifth, respectively, on the list, which reflects a vast potential for DSSCs in the future.

Hence, with improvements in the PV technology, in the wake of the burgeoning air pollution levels and depletion of fossil fuel reserves, the adoption of DSSCs is likely to boom in the coming years.

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Boom in Paints and Coatings Industry Propelling Worldwide Pigment Demand

The growing usage of pigments in various industries such as polymer, construction, automotive, and paints, is propelling their demand across the globe. Pigments are primarily needed in the paints, varnishes, and ink industry for adding color, which assists in transmitting or reflecting light. Moreover, pigments can modify or alter certain characteristics such as transparency, heat resistance, opacity, refractive index, pH value, and oil absorption. Because of these reasons, the sales of pigments are surging sharply around the world. 

Besides the above-mentioned factors, the burgeoning requirement for high performance pigments (HPP) and the growing popularity of eco-friendly and biodegradable products, on account of the increasing environmental concerns being raised in several countries, are also fueling the sales of pigments across the world. Furthermore, the soaring requirement for specialty pigments, due to their mushrooming utilization in the cosmetics industry, is causing a massive rise in the global demand for pigments.

Moreover, the ballooning requirement for titanium dioxide in the automotive industry is significantly augmenting the worldwide sales of pigments. This is subsequently propelling the expansion of the global pigments market. Pigments are basically chemical substances that provide color to materials. They are usually used with water, oil, or any other base for producing paints or similar products in the paints and coatings industry. Organic, specialty, and inorganic are the three major types of pigments used across the world.

This was because of the rapid industrial development and urbanization in the regional countries such as India, Indonesia, and China. In the coming years, the demand for pigments will explode in North America. Clariant International Ltd., Zhejiang Longsheng Group Co. Ltd., E.I. du Pont de Nemours and Company, Dainichiseika Color & Chemicals Mfg. Co. Ltd., ECKART GmbH, Kronos Worldwide Inc., BASF SE, Huntsman International LLC., and Sun Chemical Corporation are some of the major pigments producing companies in the world. 

Hence, it can be said with full confidence that the sales of pigments will rise sharply across the world in the forthcoming years, primarily because of their growing requirement in various end-use industries such as paints and coatings and automotive.

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How Are Safety Norms Increasing Adoption of Fire-Resistant Fabrics in Factories?

Fire-resistant fabrics, namely fire-retardant treated (FRT) and inherent, are used as flame-retardant substances due to the chemical treatment of these fabrics. FRT fabrics are converted into fire-resistant materials by using fire-resistant chemicals. These fabrics are widely used in the electrical, oil and gas, and electrical industries, which are excessively prone to heat and risk of fire. These fabrics are primarily used in law enforcement service uniforms and fire-fighting uniforms. Moreover, these fabrics are also required in the transportation sector and commercial and residential furnishings to reduce the occurrence of fire hazards.

The adoption of these fabrics has surged in developed and developing nations, due to the strengthening of safety norms in these countries. Safety of industrial workers has become the top-most priority in various countries, due to the implementation of stringent regulatory guidelines of the governments. Owing to this reason, manufacturing plants are adopting fire-resistant cloths. This will, therefore, escalate the fire-resistant fabrics market at a CAGR of 5.2% during forecast period. According to P&S Intelligence, the market was valued at $3,950.6 million in 2015.

Geographically, the European region adopted the highest volume of fire-resistant fabrics in 2015, due to the surging concerns regarding safety in industrial settings. On the other hand, the Asia-Pacific (APAC) fire-resistant fabrics market is expected to register the fastest growth in the coming years. This can be ascribed to the growth of the chemical, oil and gas, and petrochemical sectors in the region. Moreover, the growing need for fire-resistant commercial and residential furnishings will boost the adoption of these fire-retardant materials in the foreseeable future in APAC.

This is also because of the 100,000 deaths caused by fires around the world, most occur in low- and middle-income countries, according to the World Health Organization (WHO). This is because of the alarming lack of fire safety standards in such countries, a large number of which are located in the APAC region. With the increasing awareness on the issue, reginal countries are formulating stringent regulations regarding the type of fire-resistant materials to be used in industrial, commercial, and residential spaces.

Thus, the strengthening of industrial safety norms in several countries has led to the widescale adoption of fire-resistant fabrics, globally.

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Why is Demand for UV Metalized Caps and Closures Shooting Up in Europe?

The burgeoning requirement for metalized caps and closures in the cosmetics industry and the growing demand for foods and beverages are the major factors fueling the worldwide requirement for UV metalized caps and closures. Due to the rapid economic progress of many developing countries, the disposable income of people has increased, which has, in turn, augmented the consumption of various foods and beverages and the sales of different cosmetic products such as anti-ageing creams, sunscreens, and lotions. Besides this, the surging consumption of alcohol in various countries is also pushing up the requirement for UV metalized caps and closures.

For instance, the consumption of alcohol in Australia increased from 9.52 lt. per capita in 2014-2015 to 9.70 lt. per capita in 2015-2016 and this number further grew to 9.72 lt. per capita in 2018. Because of these factors, the value of the UV metalized caps and closures market is predicted to rise from $297.0 million in 2017 to $378.9 million by 2023. Furthermore, the market will demonstrate a CAGR of 4.2% from 2018 to 2023, as per the forecast of the market research firm, P&S Intelligence.

Additionally, the sales of these caps and closures are soaring in countries such as Poland, Hungary, Slovakia, and Czech Republic, which is also boosting the growth of the European UV metalized caps and closures market. North America will be the second largest procurer of these materials in the coming years. This will be due to the increasing import of affordable UV metallized cosmetics packaging parts and components from various Asian countries and mushrooming utilization of these caps and closures by fragrance producing companies in the region. 

Therefore, it can be said without any doubt that due to the growing requirement for cosmetic products and foods and beverages, the sales of UV metalized caps and closures will soar all over the world in the forthcoming years.

Source: www.psmarketresearch.com

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Surging Industrial Output Augmenting Industrial Lubricants Consumption Worldwide

The increasing industrial output in the emerging economies, such as India, Indonesia, China, Brazil, and Russia, has boosted the consumption of industrial lubricants such as process oil, engine oil, general oil, and metalworking fluid. In recent years, the production capacity of the consumer appliance, mining, metal forming, plastics industries of these nations has increased to a significant extent. The surging industrial output can be primarily owed to the advent of Industrial 4.0 and rapid urbanization in developing countries.

Besides, the flourishing food and beverage sector, on account of the changing lifestyle of the people and burgeoning population in Latin America (LATAM) and Asia-Pacific (APAC), will drive the industrial lubricants market at a CAGR of 4.3% during the forecast period.

The application segment of the industrial lubricants market is categorized into metalworking, energy, textiles, food processing, hydraulic machinery, chemical manufacturing, and others, including jewelry and mining. Among these, the chemical manufacturing category held the largest market share in 2016 and it is expected to retain its dominance throughout the forecast period as well. The manufacturing facilities use chemical oils to maximize the life and performance of machines that withstand stress. For example, the machinery used in nitrogen fertilizers production must be compatible with ammonia and the catalyst and withstand pressure and temperature.

The wide application base of industrial lubricants has resulted in the large-scale production of these fluids by Amsoil Inc., Houghton International Inc., Exxon Mobil Corporation, Idemitsu Kosan Co. Ltd., Phillips 66, Quaker Chemical Corporation, BP PLC, Royal Dutch Shell PLC, Klüber Lubrication München SE & Co. KG, PETRONAS Lubricants International, Chevron Corporation, Clariant AG, Calumet Specialty Products Partners L.P., Blaser Swisslube AG, The Lubrizol Corporation, and Total S.A. Industrial lubricants offered by these companies will be adopted at a significant pace in the emerging economies, owing to the strengthening manufacturing sectors in such countries.

Thus, the expanding capacity of industrial units, flourishing food and beverage sector, and strengthening wind turbine industry will boost the requirement for industrial lubricants in the foreseeable future.

Source: www.psmarketresearch.com

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How Are Government Efforts Driving Construction Chemical Consumption in APAC?

Under the National Infrastructure Pipeline launched in 2019, India has earmarked a total investment of $1.4 trillion (INR 102 lakh crore) on infrastructure development. Moreover, by 2025, the construction sector of India will be the third-largest in the world, behind that of the U.S. and China. Naturally, the two most-populated countries in the world account for the largest construction sectors in the world. Moreover, the government of these nations is extending its support for the real estate and infra sector.

Due to the rampant growth of this industry, P&S Intelligence predicts the Asia-Pacific construction chemicals market revenue to rise from $19,754.8 million in 2017 to $29,686.2 million by 2023, at a 7.1% CAGR between 2018 and 2023. This will essentially be due to the burgeoning population of the region, which is already the highest on earth. More people means a requirement for more houses, roads & highways, transportation facilities, schools, office complexes, hospitals, retail spaces, hotels, factories, and all other kinds of infrastructure imaginable.

Presently, the highest demand for all such construction chemicals, not just in APAC, but the entire world, is generated in China, which is home to the largest construction sector globally. In 2019, 26 construction projects, with a total investment of $142 billion, were sanctioned in the country, as per the South China Morning Post. The largest and most-expensive construction project underway in China right now is the South–North Water Transfer Project, under which three systems of canals are being built to divert 44.8 billion cubic meters of water from the Yangtse River in southern China to the north of the country each year.

In the coming years though, India’s contribution to the APAC construction chemicals market will grow at the highest pace. As per the India Brand Equity Foundation (IBEF), between April 2000 and December 2020, the country’s construction sector received a total foreign direct investment (FDI) of almost $50 billion. Moreover, in the 2021 Union Budget, the government allocated $32.02 billion (INR 233,083 crore) for transportation infrastructure alone! Under this, over 600 railway stations have been identified for redevelopment, the entire broad-gauge network of Indian Railways is being electrified, and all routes are being double-tracked.

Thus, with governments pushing for infrastructure development in APAC, the demand for construction chemicals will boom in the coming years.

Read More: https://www.psmarketresearch.com/market-analysis/apac-construction-chemicals-market

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How Is Construction Industry Driving Sodium Sulphate Demand?

Sodium sulphate is an inorganic salt that is primarily used in the production of glass, which is being increasingly used in the construction sector. In recent years, the expansion of the construction industry has created an extensive requirement for glass, owing to which, the production of sodium sulphate has escalated rapidly. Nowadays, the industry is using larger volumes of glass, as compared to cement and bricks, in the construction of modern buildings. Glass manufacturers use sodium sulphate as a fining agent to remove minute air bubbles from molten glass.

In addition, the soaring demand for powdered detergents from emerging economies of Asia-Pacific (APAC), Latin America (LATAM), and Africa, including Thailand, India, the Philippines, Vietnam, China, Colombia, Indonesia, Chile, and Brazil, is expected to drive the sodium sulphate market at a CAGR of 2.6% during the forecast period (2019–2024). The market revenue stood at $2,019.3 million in 2018 and it is projected to exceed $2,109.4 million by 2024. The rising usage of detergents in such countries can be ascribed to the shift from hand to machines for washing clothes and macroeconomic growth of these countries.

According to P&S Intelligence, the APAC region consumed the highest quantity of sodium sulphate in the past few years, and it is expected to retain its dominance in the coming years as well. This can be primarily owed to the large-scale consumption of the inorganic salt in China for the production of textiles and soaps and detergents. Additionally, the surge in the personal care sector in China is augmenting the demand for sodium sulphate, as it is required for manufacturing soap bars, shampoos, body washes, and several other hygiene and personal care products.

Thus, the mounting demand for glass, soaps, and detergents in various parts of the world will boost the need for sodium sulphate in the coming years.

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

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Flourishing Hospitality Industry Fueling U.A.E. Mechanical, Electrical, and Plumbing Services Market Expansion

The U.A.E. mechanical, electrical, and plumbing (MEP) services market generated a revenue of $3,025.9 million in 2020, and it is predicted to attain a value of $12,946.9 million by 2030. According to the estimates of P&S Intelligence, a market research firm based in India, the market will advance at a CAGR of 15.7% between 2021 and 2030. The market is being driven by the booming hospitality industry and the increasing construction activities in the country.

Apart from the above-mentioned factor, the launch of extensive construction and infrastructural development projects such as the Route 2020 project, which is aimed at extending the Dubai metro red line, the phase 3 of Etihad Rail for exporting granulated sulphur, Ruwais Port, and the metro railway expansion projects, is also supporting the growth of the U.A.E. MEP services market. Depending on type, the market is classified into plumbing, electrical, and mechanical services.

Out of these, the electric services category is predicted to demonstrate the highest growth rate in the market in the coming years. This is credited to the existence of numerous uninterruptable power supply (UPS) systems, security systems, lights and related control systems, and building management systems in large premises. Moreover, as all building services depend on power supply, which serves as a base for other functions, its servicing is extremely necessary. 

When end user is taken into consideration, the U.A.E MEP services market is categorized into residential, commercial, retail, industrial, healthcare, government, and hospitality. Out of these, the commercial category contributed the highest revenue to the market in 2020. This was due to the existence of several commercial buildings in the country. Moreover, regular MEP maintenance is very beneficial for buildings as it ensures the prevention of various hazards and keeps the occupants safe. 

Hence, it is quite clear that the market will register huge expansion in the years to come, primarily because of the booming hospitality and travel and tourism industries and the launch of extensive infrastructural development and construction projects all over the country.

Source: www.psmarketresearch.com

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