What Are Applications of Fluoropolymers in Electrical & Electronics Industry?

Fluoropolymers are fluorocarbon-based polymers having solid bonds of carbon and fluorine. These polymers are either homopolymers or copolymers, and they have thermoplastic properties as they contain a semi-crystalline structure. This means that these polymers become viscous or liquid at specific temperatures, after which they can be molded and shaped according to need. Fluoropolymers also exhibit strong resistance to acids, bases, and solvents. As fluorine provides better stability than chlorine, fluoropolymers are impervious to conventional media.

Owing to all such advantages, they are widely used in the automotive and electrical and electronics sectors, which will aid the fluoropolymer materials market in advancing at a 5.1% CAGR during forecast period. According to P&S Intelligence, the market size was 336.9 kilotons in 2015. The electrical and electronics industry uses these materials, primarily polytetrafluoroethylene (PTFE), to coat and insulate electronic cables, data communication cables, and automotive cables and in jacketing and semiconductor fabrication.

Similarly, the automotive sector uses the thermoplastic and elastomer forms of fluoropolymers in the production of seals, O-rings, wire insulations, fuel tank filler necks, diaphragms, and vapor and fuel management hoses. Apart from this, the photovoltaic (PV) industry utilizes fluoropolymer materials in large quantities owing to their moisture resistance, photostability, chemical and environmental resistance, flexibility, durability, and electrical isolation. Essentially, the increasing installation of solar power plants owing to the advancements in technology, stringent government regulations, and rapid shift toward non-conventional energy will fuel the requirement for these polymers in the coming years.

The APAC fluoropolymer materials market is also set to witness the fastest growth in the foreseeable future, which can be primarily ascribed to the rapid industrialization in the region. Moreover, the expansion of the automotive, construction, and electrical and electronics industries will fuel the adoption of fluoropolymer materials in the coming years. Besides, the rapid infrastructure development, high living standards, and high purchasing power of people have led to the large-scale consumption of these materials.

Thus, the strong resistance offered by fluoropolymer materials against bases, acids, solvents, weather, and heat has led to their wide adoption in the electrical and electronics, PV, automotive, aerospace, and chemical and industrial processing sectors.

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Why will Sales of Automotive Elastomers Soar in North America and Europe in Future?

One of the major factors driving the worldwide demand for automotive elastomers is the implementation of stringent environmental regulations in several countries for mitigating CO2 emissions. Moreover, many international organizations are increasingly enacting strict guidelines for reducing greenhouse gas emissions. For instance, many organizations in Europe and North America are enacting policies that mandate the production and incorporation of lightweight materials in automobiles in order to mitigate CO2 emissions and achieve the preset emission targets by 2025.

Similar policies have been enacted by the governments of various countries in the Asia-Pacific (APAC) region. China, which is the largest emitter of greenhouse gases in the region, intends to introduce policies for controlling its emission levels. Other countries in the region such as India, Indonesia, and Australia, are also enacting regulations for reducing the effects of climate change by mitigating the generation of carbon emissions. The enactment of these policies is creating lucrative growth opportunities for the players operating in the automotive elastomers market.

Likewise, the permissible combined fuel economy for trucks and cars for 2016 was 35.5 miles per gallon (mpg) and this is set to be increased to 54.5 mpg by 2025. Owing to these factors, the value of the automotive elastomers market surged to $10,015.2 million in 2015, while the market will exhibit a CAGR of 5.9% from 2016 to 2022, as per the estimates of P&S Intelligence, a market research company based in India. There are mainly two types of elastomers used in automobiles—thermoplastic and synthetic. 

This was because of the rapid expansion of the automotive industry and the large-scale adoption of lightweight materials by automobile manufacturers in the region. In the coming years, the sales of automotive elastomers are predicted to surge in North America and Europe. This is credited to the boom in the automotive industry, enactment of strict emission regulations, and rising popularity of high-performance automobiles in these regions. In North America, the demand for these elastomers was the highest in the U.S. in 2015. 

Hence, the demand for automotive elastomers will shoot up in the forthcoming years, mainly because of the increasing implementation of strict emission regulations by various international organizations and governments and the expansion of the automobile industry.

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How Is Rampant Construction Driving Demand for Centrifugal Water Pumps?

The worldwide population is expected to grow to 10.9 billion by 2100 from 7.7 billion in 2019, says the United Nations (UN) in its World Population Prospects 2019 report. Along with food and air, water is the most important for the survival of the human species. But, with the rising population, the availability of clean water for drinking and other household purposes is reducing. “2.3 billion people live in water-stressed countries, of which 733 million live in high and critically water-stressed countries.”, says the UN.

As per P&S Intelligence, the increasing demand for this precious resource will drive the centrifugal water pump market in the coming years. In such pumps, a rotating disc with blades (known as vanes), much like a turbine (but working opposite to it), pushes water forward. This, along with easy availability and cost-effectiveness, is why centrifugal variants are the most-popular type of domestic pumps in the world. Moreover, the design of this pump is simple, and it can accommodate numerous types of heads, for varying capacities.

Due to all these reasons, Asia-Pacific (APAC) is the largest centrifugal water pump market currently. Even though only 35% and 61% of the Indian and Chinese populations lived in cities in 2020, as per the World Bank, their absolute urban population is the highest in the world. This is why these countries’ cities’ demand for potable water is the highest. Even otherwise, they are the two most-populated countries in the world; much of their rural population is not connected to a municipal water supply system, which is why a large number of people use individual centrifugal pumps at their houses.

Moreover, APAC also accounts for the highest industrial production and large-scale construction. With water being important in these sectors, the demand for industrial-grade centrifugal pumps is booming. As high-rises are being built in large numbers, the demand for pumps at construction sites is increasing so that water can be lifted to the higher storeys. Same is the reason that after the buildings and their individual units are leased out, water pumps are installed to aid in the human consumption of water.

Thus, with the burgeoning population, the installation of centrifugal water pumps will increase.

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Why Are Electronics Manufacturers Using Barium Nitrate?

An extensive volume of barium nitrate is being used in the production of ceramic powder, which is an essential ingredient for electronic components such as capacitors, semiconductors, and superconductors. Ceramic powder coating is used in the electronics industry for device packaging, specialized mechanical components, superconductor devices, and semiconductor devices. Thus, the burgeoning demand for electronic products, on account of the rising disposable income of people and soaring need for technologically advanced devices, will create a huge requirement for this salt globally.

Moreover, its increasing usage as a pyrotechnic colorant will help the barium nitrate market progress at a CAGR of 5.5% during 2016–2022. The market was valued at $2,368.3 million in 2015, and it is expected to generate $3,451.8 million revenue by 2022. The pyrotechnics/fireworks industry uses generic barium nitrate products as an oxidizer, to make green fireworks. Additionally, the compound is also used in tracer bullets, which enable the shooter to trace the trajectory of a bullet with the naked eye.

Currently, the requirement of end-use industries for this chemical is met by Xilan Chemicals Co. Ltd., Jiaocheng Sanxi Chemical Co. Ltd., Angene International Ltd., Tennants Distribution Ltd., Hummel Croton Inc., Solvay, Hebei Xinji Chemical Group Co Ltd., SNDB, Basstech International Llc, and Sakai Chemical Industry Co. Ltd. Nowadays, these companies are primarily focusing on improving the product quality, reducing product cost, and enhancing supply reliability, to reach out to a greater number of customers across the world.

According to P&S Intelligence, Asia-Pacific (APAC) led the barium nitrate market in the preceding years, and it is expected to retain the leading position in the upcoming years. This can be attributed to the flourishing electronics industry, on account of the mounting disposable income of people, and escalating use of the compound in the fireworks sector. Additionally, the consumption of barium nitrate in military and pyrotechnics applications is increasing in the region.

Thus, the escalating demand for electronics and firecrackers and the booming glass industry will fuel the adoption of barium nitrate worldwide.

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Why Are Food and Beverage Companies in Germany Using Coding and Marking Systems?

Coding and marking systems provide product-related information on the packaging, such as manufacturing and expiry dates, price, batch number, and other related information, to customers. Coding and labeling enable the identification and tracking of ingredients through multiple stages of the manufacturing process. These systems are being increasingly adopted in the pharmaceutical industry in Germany owing to the surging awareness among manufacturers on the advantages of citing the drug information on the package and owing to the increasing penetration of blister packaging in this sector.

Additionally, coding and marking systems are being deployed by food and beverage companies across the country. Such companies use these systems to print product details on packaged food items, bottled water and alcoholic and soft drinks, and milk packets. Thus, the burgeoning demand for pharmaceutical products and packaged food and beverages will help the German coding and marking systems market demonstrate a CAGR of 5.7% during 2018–2023. According to P&S Intelligence, the market was valued at $290.6 million in 2017, and it is expected to generate $409.4 million revenue by 2023.

At present, end-use industries, such as electrical and electronics, food and beverages, cosmetics and personal care, automotive and aerospace, healthcare, chemical, textiles, and packaged consumer goods, are shifting from conventional printing to digital printing. The shift toward digital printing solutions, such as continuous inkjet, can be attributed to their ability to print high volumes of characters with a limited quantity of ink. Additionally, the lesser time consumed and lower inventory waste generated by digital printing solutions will augment their usage in Germany.

Thus, the expanding pharmaceutical industry, burgeoning demand for packaged food items and beverages, and escalating automobile production will propel the adoption of coding and marking systems in Germany.

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How are Strict Government Regulations Driving Demand for Renewable Chemicals?

The increased use of fossil fuels has left the environment in a detrimental state. Their excessive utilization has led to high carbon emissions, which in turn, is the cause for the depletion of the ozone layers. Ascribed to these, the need for shifting to eco-friendly alternatives has increased substantially across the globe. Technological advancements are certainly of importance in such a scenario, as new green technologies can help in decreasing the use of fossil fuels. 

All these factors are resulting in the growth of the renewable chemicals market. Renewable chemicals are derived from sources of carbon that can be replaced swiftly. These chemical are made using renewable feedstock such as microorganisms, biomass, and agricultural raw materials. The use of renewable chemicals is increasing owing to the fact that they can potentially be utilized as a substitute for chemicals that are derived from petroleum.

Consumers these days are also becoming more aware regarding the condition of the environment and therefore are focusing on sustainable products. Due to this, the focus on renewable resources, including renewable chemicals, has been rising. Furthermore, governments of several countries are also implementing regulations for curbing environmental damage. For example, the European Commission has introduced the REACH regulatory mechanism to protect the environment and human health from the risks posed by petroleum-based chemicals. In addition to this, the low-cost and abundant availability of feedstock are also expected to drive the market. 

Different renewable chemical types are organic acids, alcohols, platform chemicals, ketones, and biopolymers. These chemicals are utilized for a number of purposes in various industries such as surfactants and lubricants, consumer goods, resins, and plastics. Renewable chemicals are produced utilizing a number of processes including dehydrative transformation, thermo-chemical conversion, fermentation and bioconversion, enzymatic hydrolysis, product separation and bioconversion, production of Fischer-Tropsch diesel, acid hydrolysis, reductive transformation, and gasification/fermentation. 

Renewable chemicals are used for a number of applications, such as textiles, transportation, communication, food safety, housing, environment, health & hygiene, recreation, agriculture, and bio-medical. The increasing environmental concerns and strict government regulations are resulting in the growing use of renewable chemicals for applications in environment, agriculture, and bio-medical sectors. Moreover, the rising requirement for chemicals for supporting several industrial processes is creating the need for eco-friendly alternatives. 

Geographically, the European region is expected to emerge as a major renewable chemicals market in the years to come, ascribed to the stringent government norms that are promoting the use of environment-friendly chemicals. Apart from this, the adoption of these chemicals is also expected to rise considerably in the Asia-Pacific (APAC) region in the years to come. The need for clean chemicals to support several manufacturing processes is growing in the region. Moreover, the surging pollution levels, increasing greenhouse gases, and faster rate of oil depletion in APAC are driving the demand for renewable chemicals. 

In conclusion, the market is being driven by the surging environmental concerns and strict government regulations.

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Why is Asia-Pacific Primary Consumer of Coating Resins?

A number of developing countries, including China and India are registering strong economic growth, because of which, the government is becoming more inclined towards spending on building world class infrastructure. The disposable income of people is rising as well, thereby allowing them to migrate to urban cities. Ascribed to all this, the construction industry across the globe is growing rapidly, as large number of commercial and residential buildings are being built for facilitating the increasing number of people coming to urban areas. A large number of products are utilized during the construction process, hence, the expansion of the industry is creating demand for these products as well. 

Coating resins is one of the materials that are utilized for providing finishing touches to different kinds of products. In addition to this, these organic compounds also protect surface of materials from extreme environmental conditions. Other than the construction industry, coating resins are also used in automotive, marine, and furniture industries. The swift expansion of the automotive industry is also a key factor that is driving the demand for coating resins. The production of vehicles around the world is increasing, as a larger number of people are now focusing on buying private vehicles, thereby driving the growth of the global coating resins market. 

There are various types of coating resins, namely saturated polyester resins, acrylic, polyurethane, vinyl, unsaturated polyester resins, amino, and epoxy. Out of these, the demand for acrylic coating resins has been considerable up till now, which can be attributed to the high elasticity, solubility, and versatility of these coating resins. In addition to this, acrylic coating resins are water resistant and non-toxic in nature, which makes them the preferred choice. In terms of technology, coating resins are further of different types, including high solid, water-borne, radiation cured, solvent-borne, and powder coating, among which, the demand for water-borne coating resins is predicted to rise considerably in the years to come.

This is owing to the rising demand for these products from furniture and automobile manufacturers, as they are cost-effective and exhibit superior adhesion properties. Among the key applications areas, including vehicle refinishes, architectural, automotive, marine, and industrial, the demand for coating resins was considerable high for applications in the architectural sector. This is because of the rising requirement for residential construction across the globe. Geographically, Asia-Pacific (APAC) emerged as he largest coating resins market in the past because of the increasing need for repair and renovation of commercial buildings, schools, houses, and malls in the region. Furthermore, the rise in foreign and government investments is also driving the growth of the market in APAC. 

In conclusion, the demand for coating resins is growing due to the expanding construction and automotive industry across the world.

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Why will Sales of Styrene Surge in Asia-Pacific in Near Future?

Styrene is a derivative of benzene and is commonly used in the production of elastomers, resins, and plastics, including styrene-acrylonitrile (SAN), acrylonitrile-butadiene styrene (ABS), styrene-butadiene rubber (SBR), polystyrene, and styrene-butadiene elastomers. Additionally, “the chemical is widely used in the packaging sector for the packaging of various consumer products such as fruits, meat, and milk and many other types of packaged food items”. This is mainly because of the higher resistance of the chemical to moisture as compared to other chemicals.

In addition, styrene is also highly flexible and lightweight, owing to which, it is extensively used in various packaging applications. Furthermore, the ballooning popularity of ready-to-eat-food items and the growing cold storage sector are significantly pushing the demand for styrene across the world. In addition to this, styrene is used for making disposable containers and cups and insulation. Styrene monomer is considered a basic building block of the plastics industry. Driven by these factors, the global styrene market is predicted to demonstrate rapid advancement in the forthcoming years.

“Across the globe, the Asia-Pacific styrene market is predicted to register substantial growth over the next several years, as per the forecasts of P&S Intelligence, a market research company based in India”. This is mainly ascribed to the presence of thriving automotive and textile industries and rapid industrialization and the subsequent rise in the requirement of the chemical in various industrial applications in the region. In addition to this, the soaring infrastructural development and construction activities are further propelling the demand for the chemical in the region.

Besides the APAC region, the European and North American regions are also predicted to observe large-scale utilization of styrene in the future years. This is credited to the surging usage of expanded polystyrene (EPS) in the construction and packaging industries, on account of its application in heavy and high value product packaging including food packaging and insulation panels used in buildings. Furthermore, the increasing  building renovation activities in the developed nations are predicted to contribute tremendously toward the mushrooming popularity of styrene across the world. 

Hence, it can be said with surety that the sales of styrene will skyrocket throughout the world in the upcoming years, mainly because of the widespread usage of the chemical in the packaging sector and the automotive and textile industries.

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What are Main Factors Propelling Global Demand for Pyrethrin?

Pyrethrin is extracted from the chrysanthemum flower, which is a plant native to Asia, Eastern Africa, and Northeastern Europe. In today’s age, this plant is grown all over the world. In North America, this plant is known as a decorative autumn flower called mum. These plants use pyrethrin as a natural defense mechanism that helps them to protect themselves against various pest animals and insects. The insect and pest killing characteristics of pyrethrin make the compound extremely beneficial in the agriculture sector.

“Pyrethrin is commonly used as an insecticide for protecting crops from insects, mites, thrips, and moths”. “This compound is also used in pet shampoos for preventing tick bites in pet animals”. In addition to this, the compound has the ability to serve as an effective pest killing chemical and is therefore, widely used in the agriculture sector. Furthermore, the increasing awareness amongst people about the various diseases caused by insects is making pyrethrin highly sought after across the world. 

Due to the above-mentioned factors, “the global pyrethrin market will register huge growth in the future years”, as per the estimates of the market research company, P&S Intelligence. Apart from being used as insecticides in the agriculture and household sectors, pyrethrins are also extensively used in the industrial and animal healthcare sectors. Amongst these, the usage of pyrethrins will be very high in the agriculture sector in the coming years. This is because of the heavy utilization of the chemical for pest control. Furthermore, the demand for household insecticides is expected to rise significantly in the upcoming years.

“In near future, the pyrethrin market is predicted to exhibit huge expansion in the North American and Asia-Pacific (APAC) regions”. This is ascribed to the increasing health concerns in various North American nations such as Canada and the U.S. and the subsequent surge in the requirement of insecticides in the household sector in these countries. On the other hand, in the APAC region, the insecticides are being increasingly used in the agriculture sector in various agriculture-based countries such as India and China. 

Hence, it can be said without any hesitation that the demand for pyrethrin will increase tremendously across the world over the next several years, primarily because of its large-scale usage as an insecticide and pesticide in the agriculture and household sectors.

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Sharp Rise Predicted in Global Demand for Decorative Coatings in Near Future

Decorative coatings are applied on exterior and interior surfaces for enhancing the aesthetic appeal of the structure and also for providing a protective layer to the surface in order to protect it against fading, corrosion, moisture, bacteria, and ultraviolet (UV) radiation. These coatings posses various beneficial characteristics such as anti-slip, anti-microbial, fire-resistant, and anti-graffiti properties and are available in different colors for meeting the requirement of multiple sectors such as education, industrial, and healthcare. The demand for these coatings is surging rapidly, on account of the rising infrastructural development and construction activities across the globe.

“According to the United Nations Department of Economic and Social Affairs (UNDESA), the population in the world is predicted to increase to 8.6 billion, 9.8 billion, and 11.2 billion by 2030, 2050, and 2100 respectively, with an addition of almost 83 million to the global population every year”. Furthermore, the increasing economic growth of many countries has caused a huge rise in the disposable income of people, which has subsequently led to a surge in renovation activities, which has, in turn, propelled the demand for decorative coatings all over the world.

Because of the above-mentioned factors, the global decorative coating market will exhibit rapid growth in the coming years, as per the forecast of the market research firm, P&S Intelligence. The most commonly used types of decorative coatings are primer, enamel, and emulsion-based coatings. Amongst these, “the utilization of the emulsion-based coatings is currently the highest”, primarily because of the fact that these coatings are water-based and dry off in a shorter period of time than the other coatings. Additionally, the greater coverage area provided by these coatings makes them very popular all over the globe.

Across the globe, “the decorative coating market is presently booming in the Asia-Pacific (APAC) region”. This is primarily ascribed to the fact that this region is currently the largest producer of coated products across the world and exports these goods to other countries, especially the nations in Western European and the U.S. Additionally, the increasing per capita income of the people in the APAC nations is further boosting the requirement of these coatings in the region.

Thus, the demand for decorative coatings will surge throughout the world in the upcoming years, mainly because of the ballooning infrastructural development and construction activities and renovation works and the widespread usage of these coatings in various industrial operations across the world. 

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How is Increasing Health Consciousness Driving Lauric Acid Market?

These days, people are increasingly becoming conscious regarding their health and physical appearance. Due to increased social media penetration, the focus on aesthetic appearance has rise considerably. In addition to this, the disposable income of people across the globe has increased considerably since the past few years. Due to these factors, the demand for food products that are food for health and aid in weight loss is also on the rise. Moreover, the prevalence of chronic diseases, such as diabetes and heart problems, is also surging, which is further compelling people to opt for a healthier diet rather than foot products that lead to high cholesterol levels. 

Owing to this, the demand for lauric acid, which is a saturated fat that is found in different vegetable fats, primarily palm kernel and coconut oils, is growing as well. It has been observed that lauric acid is directly transported to the liver, where is converts into energy and metabolites instead of being stored as fat. Lauric acid has been observed to contribute the lease to fat accumulation among all the saturated fatty acids. Attributed to these factors, the global lauric acid market is expected to witness considerable growth in the near future.

Lauric acid is an inexpensive and non-toxic emulsifier, which further has longer shelf life. Attributed to this, it is widely being utilized in the production of detergents, soaps, and other personal care products. Moreover, the U.S. Food and Drug Administration has listed the acid as Generally Regarded as Safe for applications in the cosmetic and personal care industry. Other than this, lauric acid is also utilized for treating several viral infections, such as avian flu, influenza, and common cold. Because of this, the demand for lauric acid is also projected to increase in the pharmaceutical industry in the years to come.  

Geographically, the Asia-Pacific region is predicted to emerge as a major lauric acid market in the coming years, which is particularly because of the growing urban population, changing standards of living, and increasing per capita income. In addition to this, the growth of the end-use industries, including plastics & polymers, pharmaceuticals, textile, food & beverages, and cosmetic & personal care, is also driving the demand for lauric acid in the region. 

In conclusion, the growing cosmetic and personal care industry and rising focus towards healthy food items is leading to the increasing demand for lauric acid. 

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How Is Manufacturing Sector Strengthening India Diesel Genset Market?

Factors such as the flourishing manufacturing sector in India and burgeoning demand for power for commercial applications will help the Indian diesel genset market to advance at 12.5% CAGR during the forecast period (2020–2030). The market was valued at $1,105.7 million in 2019 and it is expected to generate $2,365.2 million revenue by 2030. Diesel gensets are required in almost every manufacturing and commercial facility to maintain continuous power supply, on account of the frequent power cuts in the country.

In recent years, the booming manufacturing sector in India has become a primary catalyst for the market growth. The boom in the manufacturing sector can be credited to the launch of government initiatives such a Make in India and the introduction of numerous outreach programs for micro, small, and medium enterprises (MSMEs). Additionally, the hefty investments being made by the government in industrial corridors are also facilitating the growth of the manufacturing sector in the country. Manufacturing facilities are deploying diesel gensets to meet their uninterrupted, centralized, and captive power supply needs.

According to P&S Intelligence, the Indian diesel genset market was collectively dominated by Tamil Nadu, Uttar Pradesh, Maharashtra, Karnataka, and Andhra Pradesh in 2019. This can be attributed to the mounting investments being made in the telecom sector and escalating focus on the development of commercial infrastructure in these Indian states. Leading telecommunication companies, such as Bharti Airtel and Reliance Jio Infocomm Ltd. are actively focusing on the development of a strong telecom infrastructure in these states. Additionally, the soaring number of residential facilities will also supplement the market growth in these states in the forecast years. 

Therefore, the expansion of the manufacturing and commercial sectors and rising number of housing infrastructure projects will augment the market growth in the coming years.

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Increasing Popularity of Solar Energy to Boost Demand for Smart Solar Solutions in Future

The surging need for clean and renewable energy in the industrial and residential sectors is massively pushing up the demand for monitoring and tracking the consumption, production, and transmission of solar energy to improve the overall efficiency. Due to this factor, the adoption of smart solar solutions is soaring rapidly across the world as these solutions play a major role in reducing the electricity expenditure and increasing the efficiency of the components used for producing solar power. This is achieved by the real-time monitoring of these devices. 

Besides monitoring the solar panels, the smart solar solutions also help in reducing energy wastage, which, in turn, assist in attaining optimum usage of solar energy. In addition to this, these solutions enhance the functional capabilities and characteristics of the solar devices. Furthermore, the increasing production of solar power panels and other devices, on account of the rapid advancements in the electronics and information technology (IT) sectors, is boosting the demand for these smart solutions all over the globe.

The other major factor contributing toward the rising sales of solar power devices is the declining costs of the photovoltaic (PV) panels throughout the world. Hence, with the growing usage of solar energy and the increasing adoption of smart solar solutions, the global smart solar market will exhibit tremendous growth in the future years. These solutions are widely incorporated in generators, invertors, and photovoltaic cells. Amongst these, the integration of these solutions is currently being observed to be the highest in photovoltaic cells, due to the rapid technological advancements and the subsequent reduction in the prices of these cells.

Across the globe, the North American smart solar market is currently the most lucrative, as per the findings of the market research company, P&S Intelligence. This is primarily attributed to the rapid technological advancements and the early integration of smart solar solutions and services in this region. Apart from North America, the Asia-Pacific (APAC) region is also observing large-scale usage of these services, on account of the rising popularity of renewable energy in the region and the increasing government initiatives being taken in the various APAC countries such as India, Japan, and China for encouraging the adoption of solar energy.

Therefore, it is clear from the above paragraphs that the demand for smart solar solutions will surge across the world in the coming years, mainly because of the growing adoption of solar energy in the commercial, industrial, and residential sectors throughout the globe.

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Huge Growth Expected in Global Sales of Smart Battery Chargers in Coming Years

The rising deployment of electric vehicles in the transport fleets of various countries is an important factor propelling the demand for smart battery chargers across the world. Due to the rising emission levels and global warming, many countries are increasingly adopting electric vehicles in their transport fleets. Furthermore, the governments of several countries have enacted strict policies for curbing emissions, which is, in turn, boosting the sales of electric vehicles all over the world. The surging usage of electric vehicles will increase the requirement of smart batteries, which will subsequently create huge demand for smart battery chargers across the world.

In addition to the above-mentioned factor, the rising incorporation of internet of things (IoT) is also fuelling the soaring demand for smart battery chargers around the world. In the agriculture sector, the IoT-integrated smart farms rely on various nodes, spread over large areas of land, for collecting data on soil moisture, weather, evaporation, and several other parameters. These nodes are usually powered by batteries and depend on different kinds of energy harvesting methods, such as solar energy for supplementing the existing capacity of the battery. 

Additionally, the flourishing telecom and consumer electronics industries are contributing heavily toward the ballooning sales of smart battery chargers across the globe. Due to these factors, the global smart battery charger market will demonstrate substantial growth over the next few years, as per the forecast of the market research company, P&S Intelligence. The smart battery chargers usually have at least three charging stages namely the boost stage, absorption stage, and float or maintenance stage. These chargers consist of various premium features such as the monitoring of temperature, charging process, batteries, and voltage and preventing the overcharging of the battery.

“Across the world, the smart battery charger market is currently exhibiting high growth in North America”. This is attributed to the large-scale utilization of electric vehicles and various smart electronic products such as smartphones in the North American countries, especially the U.S. For example, “the U.S. observed $55.6 billion worth of smartphone sales across the country in 2017, which was significantly higher than the $18 billion worth of smartphone sales recorded in the country in 2010".  

Hence, it can be said with surety that the demand for smart battery chargers will increase tremendously all over the world in the upcoming years, primarily because of the rising utilization of various consumer electronics devices such as laptops and smartphones and the growing deployment of electric vehicles across the world.

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