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.

Read More

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.

Read More

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. 

Read More

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. 

Read More

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.

Read More

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.

Read More

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.

Read More