How Are Brownfield Discoveries Driving Digital Oilfield Technology Usage?

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During 2017–2018, electricity production from coal, natural gas, and crude oil grew by 370 million tonnes of oil equivalent (Mtoe), driving the global electricity generation during this period, says the International Energy Agency (IEA). Thus, despite the focus shift toward renewable energy, fossil fuels continue to hold the largest share in the earth’s energy mix. This is perhaps because power production from these sources requires technologies that have been known for over one century. Moreover, renewable technologies require a high investment, and many of them don’t produce electricity as efficiently; solar plants don’t work at night, while wind plants can only work on really windy days.

Thus, with the rising oil and gas exploration and production (E&P) activities, the digital oilfield technology market size will likely grow from $26,570.4 million in 2017 to $34,871.6 million by 2023, at a 4.6% CAGR between 2018 and 2023. This will be because with the aging of oil and gas fields, the pressure with which the commodities rise to the surface decreases, which creates the need for advanced technology to keep the production volume economically feasible. Moreover, a number of brownfield reserves are being discovered, which have already matured, thus require digital technologies to boost production.

Presently, Europe and North America are the two largest contributors to the digital oilfield technology market because of their huge oil and gas reserves. The U.S. and Russia account for some of the largest oil and gas reserves and E&P volumes. Although Venezuela in South America is said to have the largest proven oil reserves, its production volume is quite low due to it being a developing country with primitive technology, which is not suitable for mass production.

Other than North America and Europe, the Middle East and Africa (MEA) is another potential user of the digital oilfield technology. For a region the very economy of which is built around oil, the Middle East could potentially generate a huge demand for such solutions. Among the top 10 countries with the largest proven oil reserves in the world are Saudi Arabia, Iran, Iraq, Kuwait, the U.A.E., and Libya, all in the MEA region.

Hence, with oil and gas continuing to power humanity, the demand for advanced technologies that can help boost their production will only rise.

Why Is APAC Consuming Pressure Sensitive Adhesives In Abundance?

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Pressure sensitive adhesives refer to elastomer copolymers or elastomers that are slightly crosslinked and strongly bond with a substrate. These adhesives do not undergo a liquid-to-solid transition to hold substances together. This class of adhesives can be synthetic or solvent-free natural resins having a viscoelastic property named 'tack'. Tack refers to the rapid wetting of a substrate by a polymer to create an adhesive bond during brief contact with the substrate under light pressure. Major advantages of these adhesives are environmental durability and instant bonding.

One of the key growth drivers for the pressure sensitive adhesives market is the flourishing e-commerce sector. The prospering e-commerce industry, on account of the changing customer preferences and mounting purchasing power of people, is creating a huge requirement for packaging materials, especially paper board. This factor will, therefore, drive the market at a CAGR of 4% during 2019–2024. The market revenue stood at $7,414.0 million in 2018 and it is projected to reach $9,351.8 million by 2024.

According to P&S Intelligence, Asia-Pacific (APAC) held the largest share in the pressure sensitive adhesives market during the historical period (2014–2018), and it is expected to maintain this trend throughout the forecast period. This can be primarily attributed to the expanding construction, electronics, packaging, and automotive industries in the region. As China, Japan, and South Korea are the leading manufacturers of electronics in the world and India and China are two of the largest consumers of fast-moving consumer goods (FMCG) products, these countries create a significant demand for packaging materials such as pressure sensitive adhesives.

There, the booming e-commerce sector and surging number of mergers and acquisitions among pressure sensitive adhesive producers will augment the adoption and production of pressure sensitive adhesives in the foreseeable future.

Demand for Proppants To Soar in Asia-Pacific in Coming Years

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With the surge in fracturing activities, on account of the discovery of new reservoirs of shale gas, the requirement for frac sand, which is a proppant, is rising sharply. As per the Railroad Commission of Texas (RRC), the number of wells that were completed during January–March 2017 was 1,925 and this number will rise to 2,712 during January-March 2018. This subsequently increased the requirement for frac sand. According to various reports, the demand for the material is predicted to rise from 45 million tons in 2016 to 110 million tons in 2018. 

This material is needed to break the pores in the reservoir for creating a vent, which will allow the shale gas to flow up to the surface. As frac sand is cheaper than other proppants, it is widely used all over the world. Besides this factor, the development of environment friendly and non-phenolic resin-coated materials is also creating lucrative growth opportunities for the players operating in the proppant market. As the phenolic-based resin-coated material causes various environmental issues such as the contamination of water, many companies like the Dow Chemical Company and Preferred Sands are developing non-phenolic resin-coated materials, which are highly eco-friendly.

Apart from being environment-friendly, these materials also require less energy during the production process. As a result, they are being increasingly used in the oil and gas industry. Because of these factors, the proppant market is predicted to exhibit a CAGR of 9.5% from 2018 to 2023, while the market revenue will surge from $6,057.0 million in 2017 to $10,562.9 million by 2023, as per the estimates of the market research company, P&S Intelligence.

Thus, it can be said with surety that the demand for proppants will rise enormously in the coming years, primarily because of the surging usage of frac sand in fracturing activities, which are themselves booming owing to the discovery of various shale gas reservoirs, and increasing production of natural gas in several countries.

Growing Homeownership Rate Driving Consumption of Paints and Coatings

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People not only care for their own appearance but also that of the things they own, such as houses and automobiles. Thus, with the booming population pushing up the requirement for houses, vehicles, and a host of other practical and materialistic things, the paints and coatings market has a bright future ahead. As per P&S Intelligence, the sale of such materials valued $156,086.2 million in 2019, and this revenue is set to witness a 4.2% CAGR during 2020–2030, to reach $227,834.0 million by 2030.

To accommodate the growing population, especially in Sweden, China, the U.S., India, Australia, Canada, and the U.K., residential, civil, commercial, and industrial infrastructure development projects are increasing in number. For instance, the Indian government allocated $24.27 billion (INR 1,69,637 crore) in the 2020–21 Union Budget for transport infrastructure development, which would boost the demand for paints and coatings. Similarly, smart cities are under construction around the world for conserving resources and making the world more sustainable, which is again creating a huge requirement for paints and coatings.

The other major sector that consumes these materials in vast volumes is automotive. The look of the car is one of the most-vital aspects that encourage someone to buy it; therefore, automakers continue to go overboard with their paint job. Any vehicle requires at least four layers of coating: primer, basecoat, electrocoat, and clearcoat, for aesthetic value and protection from the elements. Thus, with auto sales and production booming in emerging economies, the demand for paints and coatings is rising.

Thus, owing to the burgeoning automobile sales and homeownership rate, Asia-Pacific (APAC) generates the highest revenue in the paints and coatings market. China, Japan, India, and South Korea account for the highest sales and production figures of automobiles globally due to their booming population and rising urbanization rate. Moreover, regional governments are implementing several policies to make housing affordable, which is another reason behind the rising consumption of such materials.

Hence, with the booming homeownership rate and automobile sales, the demand for paints and coatings, especially the technologically advanced ones, will keep shooting up.

Why is Biochar Usage Rising Sharply in Agriculture Sector?

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Due to the deteriorating soil quality, owing to deforestation, excessive mining, and extensive usage of chemical fertilizers, researchers are suggesting products such as biochar which can mitigate nitrogen leaching in ground water, increase the water absorption ability in soil, boost microbial count in soil, and reduce soil acidity. Additionally, the growing demand for greater agricultural productivity, on account of the surging need for more food products because of the soaring population in several countries, is fueling the requirement for biochar.

Besides the aforementioned factors, the implementation of stringent environmental policies, growing demand for better soil fertility, and increasing enactment of government initiatives aimed at augmenting the crop yield are also pushing up the demand for biochar across the world. Biochar is utilized as a soil amendment and assists in enhancing soil fertility and retaining the quantity of carbon in soil. Although the char extracted from wild fire also helps in enhancing soil fertility, its usage remains limited, owing to the fact that wild fire leads to environmental contamination, deforestation, and greenhouse gas emissions. 

Because of the aforementioned factors, biochar is being increasingly used in farming processes, which is, in turn, driving the expansion of the biochar market. The revenue of the market reached $4.27 million in 2015 and the market is predicted to exhibit a CAGR of 17.1% from 2016 to 2023 (forecast period), as per the estimates of the market research company, P&S Intelligence. Biochar is produced via pyrolysis and gasification processes that include super heating of biomass in the presence of limited amounts of oxygen at high temperatures and thermal conversion.

Thus, owing to the growing demand for higher crop productivity, because of the burgeoning requirement for more food products, and the soaring demand for better soil quality and texture, the usage of biochar is surging sharply in farming processes across the world. 

Adhesives and Sealants Enhancing Automotive Safety

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Automakers across the world are making notable investments in the research and development (R&D) on lightweight vehicles to enhance their fuel efficiency and maximize their power and speed. To reduce the overall vehicle weight, automobile manufacturers are replacing steel fixtures, such as nuts and bolts, with structural adhesives, which provide exceptional bonding. Thus, the burgeoning demand for lightweight vehicles, owing to the depleting fossil fuel reserves, will create a huge requirement for automotive adhesives and sealants worldwide.

Additionally, the rising implementation of stringent vehicle safety standards and regulations by numerous governments will drive the automotive adhesives and sealants market at a CAGR of 7.0% during the forecast period (2020–2030). The market was valued at $7,438.2 million in 2019, and it is projected to generate $12,646.8 million by 2030. As adhesives can absorb the impact of head-on collisions, rubber compounds are being used in non-structural application areas, during the body in white (BIW) stage, to fill the vacuum in vehicles. These compounds help in shock absorption, which is essential for passenger safety.

According to P&S Intelligence, Asia-Pacific (APAC) accounted for the largest share in the automotive adhesives and sealants market in 2019, and it is also expected to demonstrate the fastest growth throughout the forecast years. This can be credited to the accelerating economic growth, mounting purchasing power of the middle-class population, and developing urban infrastructure in the region. Moreover, the increasing focus of governments, automakers, and the public on minimizing carbon emissions and enhancing the fuel economy of vehicles will augment the demand for such fasteners in the region.

Thus, the mushrooming demand for lightweight vehicles and increasing implementation of vehicle safety norms will propel the consumption of automotive adhesives and sealants.

Why Are Water Treatment Plants Using Biocides?

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Biocidal products refer to active substances or compositions that are used to deter, render, destroy harmless microorganisms, or exert a controlling effect on hazardous organisms, by chemical or biological means. Based on their properties, such products can act as pesticides, disinfectants, or preservatives. There are two types of biocides– oxidizing and nonoxidizing. Oxidizing biocides, such as chlorine, sodium bromide, and peracetic acid, attack microorganisms by oxidizing the cell structure and disrupting nutrients by percolating through the cell walls. Whereas, nonoxidizing biocides attack microorganisms by interfering with reproduction, breaking the cell walls, or stopping the respiration process.

The increasing requirement for such products for preserving personal care, healthcare, and home care products will drive the biocides market at a 4.4% CAGR during the forecast period (2019–2024). According to P&S Intelligence, the market will produce around 1,376.6 kilotons of biocides by 2024. Biocides are used as disinfectants, sterilant, and preservatives in consumer products as they prevent or eliminate microbial growth. Thus, the burgeoning demand for consumer goods will augment the need for biocidal products in the forthcoming years.

Geographically, the Asia-Pacific biocides market is expected to witness the fastest growth during the forecast period. This will be due to the soaring demand for treated water in China, India, and several other Southeast Asian countries for residential and industrial applications. Thus, the expanding industrial sector in APAC, owing to the rapid shift of manufacturing base from developed countries to this part of the world, will fuel the demand for biocidal products in the forecast years.

Thus, the amplifying demand for treated water and rising penetration of consumer products will propel the need for biocides in the forthcoming years.

Increasing Construction Activities Fueling Autoclaved Aerated Concreate Demand

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With the increasing urbanization and industrialization rates, the demand for autoclaved aerated concrete is growing rapidly across the world. Due to their excellent characteristics such as low cost and the ability to sustain fire and earthquakes and availability in various sizes, autoclaved aerated concretes are being increasingly used in the construction industry. These products also reduce the construction time by 20%, as the blocks are available in multiple sizes. Furthermore, the increasing construction and infrastructural development activities in emerging economies such as those pertaining to the development of highways and roads, are also fueling the requirement for autoclaved aerated concrete blocks. 

Besides the aforementioned factor, the increasing demand for sound-proof and green buildings is also fueling the requirement for autoclaved aerated concrete (AAC) blocks. The production of these blocks is non-polluting in nature, as they are made up of non-toxic materials and does not produce toxic gases. Moreover, the total energy required for manufacturing autoclaved aerated concreate blocks is less than half of what it is needed for manufacturing alternative building materials such as clay brick. 

Because of the above-mentioned reasons, the global autoclaved aerated concrete market reached $4,498.5 million revenue in 2019 and it is predicted to progress at a CAGR of 6% from 2020 to 2030 (forecast period). Road sub-base, construction materials, roof insulation, void filling, bridge sub-structure, and concrete pipes are the major application areas of autoclaved aerated concrete blocks. Out of these, the usage of AAC blocks was found to be the highest in construction materials in the past years, and this trend is predicted to continue in the upcoming years as well.

Hence, it can be said with confidence that the demand for AAC blocks will rise sharply in the years to come, mainly because of their mushrooming requirement in the construction sector, increasing infrastructural development activities, and rising urbanization and industrialization rates in several countries.

How Is Epoxy Coating Usage Fueling Polyetheramine Consumption?

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Polyetheramines are colorless curing agents, which consist of polyether and amine moieties, and are used to increase the flexibility, toughness, hydrophobicity, or hydrophilicity of a variety of products. The application areas of this substance include resins, polyurea, epoxy coatings, composites, elastomers, inks, sealants, polyamides, and adhesives. Epoxy coatings are, in turn, used in fiberglass, carbon fiber, and several other composite materials. Polyetheramines are also utilized as fuel additives for cleaning carburetors, valves, and injectors.

Among these, epoxy coatings are the most widely used products containing polyetheramines. Epoxy coatings and durable coatings can be used for durable paints, fiberglass, carbon fibers, and strong adhesives and coatings for metals and floors. These coatings are also used to seal the surface of fresh concrete and prevent the rapid loss of moisture. Other uses of polyetheramine include demulsification of oilfields, acid neutralization, and cement additives. Thus, the key industries that consume polyetheramine-based products are paints & coatings, automotive, and construction. 

The widening application base of these products and growing end-use industries will accelerate the polyetheramine market progress at a CAGR of 10.5% between 2016 and 2022. As per P&S Intelligence, the polyetheramine market revenue stood at $660.4 million in 2015. The spurring demand for epoxy coatings and composite materials will boost the requirement for polyetheramine, globally. Moreover, the expansion of the manufacturing sector, especially in developing countries, will amplify the consumption of this substance.

The demand for fuel additives in the region is driven by the rising sale of automobiles. With people becoming richer, they are spending more than ever on luxury goods, such as automobiles. Moreover, the rising awareness on the role of fuel additives in increasing the fuel economy of vehicles is propelling the consumption of such materials. Being the most-polluted region in the world, APAC has a strong need to cut down its greenhouse gas emissions, which is another area where fuel additives are helpful.

Thus, the growing requirement for epoxy coatings in various end-use industries and rising need for fuel additives will boost the production of polyetheramines in the foreseeable future.

Why Is Construction Glass Replacing Conventional Building Materials?

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Glass has become a substitute for many building materials, including wood, bricks, and polycarbonate, as it is environmentally sustainable and can increase the safety, security, and natural light influx in buildings. It offers high resistance to chemicals and electricity and protection from harmful solar radiation. Construction glass finds wide applications in doors, external walls, and windows as it is a translucent glazing material. Moreover, the advancements in glass manufacturing technologies have resulted in the production of lightweight and sturdy glass for the construction industry.

The flourishing construction sector and surging need for environment-friendly building materials, due to the worldwide sustainability initiatives, will accelerate the construction glass market advance at a CAGR of 7.6% during forecast period. According to P&S Intelligence, the market stood at $81.9 billion in 2015. Moreover, the growing disposable income of the middle-class population will fuel the consumption of different types of construction glass, such as low-E glass and special glass, in the coming years. Manufacturers use the float process or rolled/sheet process to produce these types of glass.

In the coming years, the South American, Middle Eastern, and African regions will consume a high volume of construction glass due to the rapid growth in their infrastructure sector. Apart from this, European and the two North American countries will also adopt a significant quantity of this material, due to its physical and chemical properties. To meet the requirement from various regions, material providers like AGNORA, Nippon Sheet Glass Co. Ltd., Guardian Industries, JE Berkowitz, Central Glass Co. Ltd., Asahi Glass, AGC Glass Company Inc., PPG Industries, and Schott AG produce construction glass in large quantities.

Thus, the exceptional chemical and physical properties of construction glass will boost its adoption in the infrastructure sector in the foreseeable future. Moreover, the growing focus on energy-efficient and eco-friendly products across the world will amplify its usage.

Increasing Construction Activities Fueling Worldwide Sales of Microcellular Plastics

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Due to the surging requirement for microcellular plastics in the healthcare and food packaging industries, their sales are soaring sharply all over the globe. Moreover, these plastics are also extensively used in the transportation, electronic, and toy manufacturing industries, on account of the fact that they have better and enhanced characteristics than the conventionally used materials such as lesser material consumption. The mushrooming requirement for high performance materials in various end-use industries is also boosting the sales of microcellular plastics.

Apart from the aforementioned factors, the boom in the construction industry in several countries, on account of the soaring investments being made in infrastructural development and construction projects, is also positively impacting the demand for microcellular plastics across the world. These plastics are majorly used in scaffolding, which is basically a temporary structure that is set up during construction activities such as the construction of a building for supporting the work crew.

For instance, the U.K. government’s investment in the country’s public sector is predicted to rise from USD 4.9 billion to nearly USD 77.7 billion between 2013 and 2014. This spending is further predicted to grow to as much as USD 93.0 billion in 2015–2016. The surge in public sector investment will lead to a massive rise in the number of infrastructural development projects, which will, in turn, push up the demand for microcellular plastics.

Due to the above-mentioned factors, the sales of microcellular plastics are exploding all over the world, which is, in turn, driving the expansion of the global microcellular plastics market. Microcellular plastics are a kind of biodegradable plastics that have high sustainability, selective light diffusion and transmission, thermal and sound insulation, tissue engineering scaffolds and filtration, and energy absorption characteristics. As these plastics have cheaper production processes, they are increasingly being used in place of the traditional plastics in various applications.

According to the findings of P&S Intelligence, a market research company based in India, the demand for these plastics was also very high in Europe during the last few years. This was ascribed to the presence of a thriving automotive industry in the region. COMPAGNIE DE SAINT-GOBAIN, INOAC Corporation, Rogers Corporation, Grisworld LLC, Huntsman Corporation, ABC Group Inc., Evonik Industries AG, and Mearthane Products Corporation are some of the major microcellular plastics producing companies across the world.

Hence, it is clear from the above paragraphs that the sales of microcellular plastics will rise enormously all over the world in the coming years, primarily because of their growing requirement in various end-use industries such as construction and automotive.

Increasing Demand for Stable Grids Driving Need for Energy Storage

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The rising requirement for reducing the reliance on gas, coal, and oil for power generation is massively pushing up the demand for energy storage systems. These systems are required in renewable-energy power plants for dealing with the variable power outputs provided by renewable energy sources. These systems smoothen out the power supply, thereby ensuring that the electricity needs are met during the peak hours. Apart from this, storage technologies also enable quick power discharge to the grid.

This rapid response is necessary for ensuring that the grid remains stable during hours of peak energy demand. Unlike the conventionally used fossil fuel-based energy production systems that take a long time to produce and deliver power, these storage technologies help utilities save time. As a result, the global energy storage market size stood at 171,039.3 Megawatts (MW) in 2019 and it is predicted to rise to 240,956.9 MW by 2030. According to the estimates of the market research company, P&S Intelligence, the market will progress at a CAGR of 3.3% from 2020 to 2030.

Geographically, the energy storage market is expected to boom in the Asia-Pacific (APAC) region in the forthcoming years. This will be because of the increasing engineering, procurement, and construction (EPC) activities in the regional countries such as China, India, and Japan. In addition to this, the burgeoning requirement for stable and smart grids and the increasing production of renewable energy are also driving the demand for energy storage systems in the region. 

Hence, it can be safely said that the market will grow massively in the upcoming years, primarily because of the increasing generation of renewable energy, lack of stable grids in several countries, and fluctuating prices of conventional energy sources such as oil and coal.

What Are Potential Applications of Conductive Polymers in Prosthetics?

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According to several sources, the world is home to more than 3 billion people with smartphones. Originally introduced to the developed world, they are now more-widely used in developing countries owing to their shifting manufacturing base to the latter and their dropping prices as a result. Moreover, people around the world are witnessing a rise in their purchasing power, which has played a vital role in propelling the sale of such consumer electronics.

Thus, P&S Intelligence expects the conductive polymers market revenue to grow from $4,441.7 million in 2017 to $7,341.2 million by 2023, at an 8.7% CAGR between 2018 and 2023. This is because these materials have become essential for such products, especially the lightweight and high-performance ones. Simply put, conductive polymers are plastic-like materials that conduct electricity and show optical properties that can be modified as per requirement. Thus, with the rising sale of consumer electronics in emerging economies, the consumption of such materials will only surge.

Presently, North America is the largest conductive polymers market because of the extensive research being conducted to explore and widen the applications of such materials. The region is home to the most-advanced medical device sector, which is why most of the trials and research activities regarding the usage of conductive polymers in prosthetics and implantable medical devices are being conducted here. In the coming years, the demand for such materials is set to shoot up in Asia-Pacific (APAC), home to the largest consumer electronics sector in the world. Moreover, regional countries are rapidly creating solar power plants, which are a key application area of conductive polymers.

Therefore, with continuous research being undertaken to come up with advanced materials for a number of applications, the demand for conductive polymers will only increase.

Surging Automobile Manufacturing Propelling High Temperature Elastomer Sales

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The surging usage of high temperature elastomers in the automotive industry is propelling their sales around the world. Moreover, with the boom in the automotive industry, especially in the Latin American and Asia-Pacific countries, the demand for these elastomers is rising sharply. These elastomers are extensively used in gaskets, boots, seals, dampers, and hoses, on account of their various beneficial characteristics such as resistance to automotive lubricants and heat, flexibility, and durability.

Besides, these elastomers are also heavily used in the oil and gas, healthcare, electrical, transport, and aerospace industries. For example, they are used for producing seat covers, tyres, and specialty rubber in the transport industry. On the other hand, in the consumer goods, electronics, and healthcare industries, they are used as additives, on account of their beneficial traits. Additionally, these elastomers also have several applications in the construction industry. Furthermore, many manufacturing companies are launching campaign programs and advertisements for promoting the use of high temperature elastomers, thereby fueling the expansion of the high temperature elastomers market. 

As a result, the market value is expected to grow from $9,991.7 million in 2017 to $14,951.4 million by 2023. According to the forecast of P&S Intelligence, a market research company based in India, the market will progress at a CAGR of 7.0% from 2018 to 2023. Perfluorocarbon elastomers, fluorocarbon elastomers, silicone elastomers, fluorosilicone elastomers, polyacrylate, and nitrile are the most commonly used types of high temperature elastomers. Out of these, the demand for the silicone elastomers was found to be the highest during the last few years.

This is ascribed to the existence of several end use industries and many electrical and electronics manufacturing firms, increasing construction activities, and rapid economic progress of the regional countries. In addition to this, the expanding industrial base in India and China, due to their economic growth, is also driving the demand for these elastomers in the region. KCC Corporation, Dow Corning Corporation, Wacker Chemie AG, Solvay S.A., 3M Company, and Momentive Performance Materials Inc., are some of the major high temperature elastomer producing companies across the world. 

Hence, the expansion of the automotive industry and surging construction activities will drive the sales of high temperature elastomers all over the world in the upcoming years.

Exceptional Thermal Properties of Polyimide Films Propelling Their Use in End-Use Industries

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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 2017–2023. The market was valued at $1,850.0 million in 2016 and it is projected to reach $3,608.3 million by 2023.

In recent years, PI films have replaced epoxy resins, polyurethanes, and polycarbonates in the production of flexible printed circuit (FPC), due to their blend of chemical, thermal, mechanical, and electrical properties. Further, the high thermal resistance imparted by PI films to FPCs makes them viable for applications subject to high heat generation. Moreover, such films have numerous applications in the production of light weight and compact FPC assemblies. Apart from this, the usage of PI films has also significantly surged in traction motors, generators, and transformers, as they are used to create a buffer against the corona discharge effect.

Whereas, North America held the second position in the polyimide films market in the recent past, due to the escalating usage of PI tapes in the high-tech aerospace industry, increasing application of PI films in the medical sector, and burgeoning demand for insulation tape for producing automotive components in the region. Besides, the increasing product innovations made by major polyimide product manufacturers also augmented the usage of PI films in the region during the last few 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.

Coding and Marking Systems Mitigating Counterfeit Automobile Component Sales

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As per the Automotive Aftermarket Suppliers Association (AASA), the global automobile industry loses nearly $12.0 billion every year due to sales of counterfeit products, such as compression systems, lighting systems, steering linkages, suspension components, brake pads, and batteries. To combat this financial loss, vehicle manufacturers are increasingly using coding and marking systems to code part numbers or put anti-counterfeit labels on vehicle parts. Automobile manufacturers are currently opting for invisible yet scannable anti-counterfeiting printing inks and barcodes to combat the threat of counterfeits.

Apart from the automobile sector, the food and beverages industry is also using coding and marking systems in abundance, due to the burgeoning sales of bottled water, packaged food, dairy products, and fruit juices. Thus, the booming demand for such food items is expected to fuel the coding and marking systems market at a CAGR of 6.4% during 2020–2030. According to P&S Intelligence, the market revenue stood at $3,832.4 million in 2019, and it is projected to reach $7,469.6 million by 2030.

Geographically, Asia-Pacific (APAC) dominated the coding and marking systems market in the recent past, and it is expected to retain its position in the coming years as well. This can be credited to the rising food production, toughening government regulations regarding printing materials, and surging export of packaged food items from the region. Moreover, the soaring penetration of piracy and counterfeiting in most of the industries of APAC will fuel the adoption of coding and marking systems in the forthcoming years.

Thus, the booming demand for packaged food items and beverages and increasing penetration of counterfeit automotive parts will amplify the usage of coding and marking systems in the foreseeable future.

1,3-Butylene Glycol Making Cosmetic and Personal Care Products Aromatic

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1,3-butylene glycol is widely used as a humectant in cosmetic products due to its ability to serve as a viscosity-reducing component. Moreover, the usage of this organic compound helps in stabilizing volatile compounds, such as flavors and fragrances, by fixing their cosmetic formulations, thereby helping in aroma retention. Additionally, the compound also prevents the spoilage caused to cosmetic formulations by microorganisms. Besides, the excellent distribution coefficient of this organic compound results in lowering the content of applied preservatives, thereby improving the efficacy of the cosmetic formulations.

Thus, the surging consumption of cosmetic products owing to the mounting disposable income and booming geriatric population will help the 1,3-butylene glycol market advance at a CAGR of 5.0% during 2020–2030. According to P&S Intelligence, the market was valued at $139,994.9 thousand in 2019, and it is expected to reach $227,057.5 thousand by 2030. As per the World Ageing Population 2020 report, the population of people aged 65 years and above is expected to surge from 727 million in 2020 to 1.5 billion by 2050. 

At present, 1,3-butylene glycol manufacturers are actively engaging in partnerships and agreements to cater to a wider customer base. For instance, in October 2019, Daicel Corporation entered into an exclusive sales agreement with Genomatica Inc. to sell and promote the Brontide natural 1,3-butylene glycol of the latter in the Asia-Pacific (APAC) region. Similarly, in May 2020, Glenn LLC received the exclusive distribution rights for Brontide natural butylene glycol from Genomatica Inc. in the U.S.

Globally, the 1,3-butylene glycol market will exhibit the fastest growth in the Asia-Pacific (APAC) region in the upcoming years. This is attributed to the ballooning sales of beauty care products in the emerging economies such as India and China, due to the surging disposable income of the people residing in these countries. Moreover, many beauty care product manufacturers are rapidly expanding their production capacities for meeting the soaring requirements. 

Therefore, it is clear that the demand for 1,3-butylene glycol will surge in the upcoming years, mainly because of its growing usage in the pharmaceutical industry and cosmetics and personal care products and the expansion of these industries across the world

What Are Advantages of Polymer Concrete in Infra Repair & Maintenance?

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In 2018, the Construction Industry Value Chain report of the International Finance Corporation, which works under the World Bank, had said that more than 75% of the infrastructure needed in 2050 hasn’t even been constructed yet. This reflects a massive growth in the global construction industry in the coming years, which would propel the demand for all kinds of construction chemicals and materials. One of the most-important such materials is concrete, which forms the literal ‘building blocks’ of buildings and other pieces of infrastructure.

This is why the polymer concrete market size has been projected by P&S Intelligence to rise to $2,964.0 million by 2023 from $1,975.8 million in 2017, at a 7.1% CAGR between 2018 and 2023. This is because with the increasing focus on the safety and durability of structures, conventional concrete is being replaced with polymer concrete. Such material uses a polymer to bind everything together, instead of lime-type cements. The key advantages of polymer concrete are high flexural, compressive, and tensile strength, longer durability with regards to thaw and freeze cycles, strong chemical and corrosion resistance, and good adhesion.

Presently, North America is the largest polymer concrete market because of the increasing infrastructure repair activities here. All pieces of civil, commercial, industrial, and residential infrastructure are strongly regulated and thoroughly inspected for safety and longevity. As a result, several infrastructure repair projects are underway in the region, along with those involving fresh construction. Moreover, several construction chemical companies operate in the region, which leads to an easy availability of advanced materials, including polymer concrete.

Hence, with the focus shifting to high-performance structures, the demand for polymer concrete will increase.

Source: www.psmarketresearch.com

Why Is OLED Material Consumption Highest in Asia-Pacific?

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The technology of TV displays has evolved significantly from the cathode ray tubes of the mid-20th century to the liquid crystal displays (LCDs) and light-emitting diodes (LEDs) of the first decade of the 21st century. With efforts on to make the displays even better, organic light-emitting diodes (OLEDs) have been invented, which are rapidly becoming popular in TVs, smartphones, laptops, tablets, and automotive displays. This is because of the several advantages OLED screens offer, including brighter pictures, larger viewing angles, ability to work in a wider temperature range, and lower power consumption.

Moreover, OLEDs are so thin that they can be used for curved and folded screens, which are becoming rapidly popular, especially in wearable devices and other consumer electronics. Similarly, transparent displays, which are helping revolutionize advertising activities, have become possible due to OLEDs. P&S Intelligence cites these advantages and the constant research being put in to make the technology better while forecasting that the OLED materials market value, which stood at $6,000.0 million in 2016, will reach $27,818.4 million by 2023, at a 24.5% CAGR between 2017 and 2023.

Due to the high automotive and consumer electronics production, the OLED materials market will continue to be led by Asia-Pacific (APAC) in the years to come. China, South Korea, India, and Japan are home to some of the largest consumer electronics and automotive manufacturers. Moreover, with the rising urbanization rate in the region, the purchasing power of people is increasing, which is propelling automotive and consumer electronics sales. In addition, the road accident and fatality rates are rather high here, which is why most of the vehicles in the future are expected to have ADAS.

GLOBAL OLED MATERIALS MARKET

  • By Type – Cathode, EML, ETL, HIL, Anode, Encapsulation, Substrates, and Others
  • By Application – Display (Television and Monitors, Smartphones, Notebooks and Tablets, Automotive, and Others), and Lighting
  • By End User – Residential, Commercial, and Industrial
  • By Region – North America, Europe, Asia-Pacific (APAC), and LAMEA

Why will Demand for Automotive Refinish Coatings Soar in U.S. in Future?

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With the increasing income of people and surging gross domestic product (GDP) of countries, the sales of automobiles are rising. This is, in turn, pushing up the requirement for automotive refinish coatings, especially in developing countries such as China and India. For example, in China, due to the growing GDP, the sales of four-wheelers rose by 28.03 million in 2016. This massively propelled the demand for refinish coatings, as they were required in abundance for vehicle repair and maintenance. 

Besides the aforementioned factors, the growing deployment of recreational vehicles (RVs) is also fueling the growth of the automotive refinish coatings market. In recent times, the sales of RVs have increased sharply, especially in Europe and North America, primarily because of the increasing disposable income of people. For example, the global RV shipment rose from 28,346 units in 2015 to 33,398 units in October 2016. With the burgeoning requirement for RVs, automakers are focusing on various modifications for providing customized and economically viable models to customers. 

Because of the above-mentioned factors, the revenue of the automotive refinish coatings market will surge from $7,855.3 million in 2016 to $11,099.7 million by 2023, while the market will advance at a CAGR of 5.1% during forecast period. Depending on product type, the market is divided into clearcoat, basecoat, and primer & filler categories. Out of these, the clearcoat category is predicted to exhibit the fastest growth in the market during the forecast period. This is credited to the fact that these coatings protect basecoats from damage and give a shiny look to the vehicle.

Across the globe, the demand for automotive refinish coatings is predicted to surge in Asia-Pacific (APAC) in the upcoming years. This is ascribed to the mushrooming sales of vehicles in the regional countries such as China and India and the growing number of vehicle manufacturing facilities in the region.

Hence, it can be safely said that the demand for automotive refinish coatings will shoot up in the future, primarily because of the surging sales of automobiles, ballooning popularity of customized RVs, increasing average lifespan of vehicles, and the growing incidence of road accidents in various countries.

Source: www.psmarketresearch.com

Why Is Construction Industry in APAC Using Specialty Chemicals in Abundance?

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Specialty chemicals or performance chemicals are used in the production of numerous goods in several end-use industries. Such chemicals are directed toward specific services and consumer needs, rather than general use. These chemical products add significant value to a wide range of products, such as detergents, electronics, paints, and petroleum products. For example, automakers use such chemicals as fuel additives to enhance fuel properties. Likewise, the pharmaceutical industry uses specialty chemicals as active ingredients in numerous creams and lotions. 

The escalating industrialization rate in Asia-Pacific (APAC) countries, owing to the booming middle-class population and mounting disposable income of people, will fuel the APAC specialty chemicals market at a CAGR of 5.7% during 2018–2023. According to P&S Intelligence, the market was valued at $259.6 billion in 2017 and it is expected to reach $361.0 billion revenue by 2023. The surging number of manufacturing units in the  food and beverage, cosmetics, and agriculture industries will create a huge requirement for specialty chemicals in the in the region in the foreseeable future.

In recent years, China has emerged as the leader of the APAC specialty chemicals market, due to the burgeoning domestic demand for commercial and residential buildings, on account of the surging in the country. Moreover, the presence of a large manufacturing base in China, owing to the availability of cheap labor and abundant raw materials, will also fuel the consumption of specialty chemicals in the country in the coming years. Additionally, the expansion of the automotive industry is also fueling the demand for performance chemicals in this APAC region.

Whereas, India is expected to adopt specialty chemicals at the highest rate in APAC in the coming years, as per P&S Intelligence. This can be primarily credited to the accelerating urbanization rate, mounting disposable income of people, and burgeoning demand for improved aesthetics in residential infrastructure in the country. Moreover, the automotive, personal care, electronics, and food and beverage industries in India are also expected to adopt a significant volume of specialty chemicals in the forthcoming years. 

Thus, the rising industrialization rate and the flourishing construction industry will fuel the adoption of specialty chemicals in APAC in the foreseeable future. 

Source: www.psmarketresearch.com

Why Are Coding and Marking Systems Becoming Important in U.S.?

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There were 36,486 food and beverage processing factories in the U.S. in 2017, as per government sources. Some of the world’s largest food and beverage companies are based in the U.S., which results in massive production and export volumes. This industry is strongly regulated by the Food and Drug Administration (FDA), which mandates that all product details, including ingredient list and nutritional values, batch number, manufacturer contact information, and manufacturing and expiry dates, be clearly mentioned on the packaging.

Due to such strict regulations, the U.S. coding and marking systems market will likely grow to $860.6 million by 2023 from $558.4 million in 2017, at a 7.6% CAGR between 2018 and 2023, says P&S Intelligence. This is because it is these systems that print the required information on the primary and secondary product packaging. Moreover, with people becoming more aware of natural and organic ingredients and their nutritional values, they read the product packaging carefully before buying.

Due to the combined effect of the FDA’s product labeling mandates, anti-counterfeiting and intellectual property protection regulations, and growing trade of fake goods, the usage of continuous inkjet, thermal inkjet, thermal drop on demand (DoD), laser coding and marking, transfer overprinting (TTO), and print and apply labeler systems is rising in the U.S. Among these, continuous inkjet systems are preferred because they print fast and virtually on any material, work for long hours, and carry a low requirement for servicing. Moreover, they can print millions of characters with just one liter of ink, thereby helping save materials, most importantly, water.

Similarly, the healthcare sector is a significant end user in the U.S. coding and marking systems market because drugs and medical devices are among the most-sensitive goods anywhere. Hence, the FDA strongly regulates these and requires companies to clearly state the product info on the packaging and the product themselves. Consuming expired or fake drugs can lead to severe reactions, including death, which is why healthcare products need proper labeling.

Therefore, with the laws related to keeping customers aware of what they are purchasing strengthening in the country, the usage of coding and marking systems will increase too.

Source: www.psmarketresearch.com

What Is Significance of Can Coatings for Food and Beverage Industry?

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“The roughly 4.5 billion low-income people in developing countries collectively spend more than $5 trillion a year… They spend $2.3 trillion a year on food and beverages alone.” These stats by the World Bank clearly reflect a bright future for the global food and beverage industry. Moreover, as per a recent article in Forbes, amid the falling consumer spending during the COVID-19 pandemic, non-alcoholic beverages and food were among the goods that saw a rising demand, mainly because of the lockdown frenzy making people stockpile such goods at homes.

With the growing food and beverage industry, P&S Intelligence expects the can coatings market revenue to increase to $2,588.9 million by 2023 from $2,100.6 million in 2017, at a 3.5% CAGR between 2018 and 2023. This is because cans are one of the most-common food and beverage containers, being widely used for soft drinks and beers, sauces, processed meats, raw ingredients, such as olives and tomatoes, pet food, baby food, energy drinks, chips, and spices. Thus, with the growing population and its disposable income, the consumption of processed foods is rising, which is driving the demand for cans and, ultimately, can coatings.


Similarly, aerosol-based paints, automotive products, and mold-release agents are witnessing an increasing usage. A variety of coatings are used on the interior and exterior surfaces of all such cans. They are used more on the interior surface as the contents need to be prevented from coming into contact with the can metal, which could lead to chemical reactions and diminish the usability of the product; on the other hand, a corrosive liquid could eat up the can if a protective coating hasn’t been applied on the interior surface. The usage of coatings on the exterior of the can serves the purpose of protecting it from the elements, such as moisture (rust) and heat.

Presently, North America is the largest can coatings market because of its growing food and beverage sector. Some of the world’s largest food and beverage companies, including PepsiCo., The Coca-Cola Company, The Kraft Heinz Company, Conagra Brands Inc., and Archer Daniels Midland Company, are headquartered in North America. Moreover, many medium-scale companies have their food and beverage processing plants here, which creates a massive requirement for coated cans and, in turn, can coatings.

Hence, with the rising demand for processed food and beverages and personal care items, the usage of protective coatings inside and outside cans will burgeon.

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


Why Are Wastewater Treatment Plants Using Flocculants and Coagulants?

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Flocculants and coagulants refer to the chemicals that are used to separate solids from water during the water treatment process. Flocculants accelerate the clumping of particles, which amplifies the water treatment process, whereas coagulants neutralize the electrical charges present in the water and accumulate the dissolved materials to form larger particles that can be eliminated through filtration, clarification, or any other solid elimination process. Separation of solid particles from water is easier through the flocculation process than the coagulation process, as the former combines the small clumps developed during coagulation to form larger clumps, which are easier to remove.

The consumption of such water treatment chemicals will amplify in the coming years due to the burgeoning demand for clean water. Thus, the augmenting need for clean water, owing to the mounting health concerns, will aid the flocculants and coagulants market to exhibit a CAGR of 5.4% during 2018–2023. The market was valued at $10,270.2 million in 2017 and it is projected to reach $14,225.3 million revenue by 2023. Large-scale industrialization and urbanization, on account of the booming population, are the main factors responsible for the pollution of water bodies across the world.

According to P&S Intelligence, the Asia-Pacific region dominated the flocculants and coagulants market in the recent past, and it is expected to adopt a significant volume of such water treatment chemicals in the forthcoming years. This can be attributed to the flourishing chemical industry and mounting industrial output in the region. Moreover, the burgeoning need for flocculants and coagulants in the oil and gas, metal, and food and beverage industries will also boost the adoption of such chemicals in the region in the forthcoming years.   

Thus, the burgeoning demand for treated water and expanding food and beverage industry will propel the consumption of flocculants and coagulants in the foreseeable future.

Read More: https://www.psmarketresearch.com/market-analysis/flocculants-and-coagulants-market

Soaring Oil & Gas E&P Activities Driving Centralizers and Float Equipment Market Growth

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The global centralizers and float equipment market reached a revenue of $991.6 million in 2018 and it is expected to attain a value of $1,439.3 million by 2024. Furthermore, as per the estimates of P&S Intelligence, a market research company based in India, the market will advance at a CAGR of 6.3% from 2019 to 2024 (forecast period). The market is being driven by the increasing exploration of oil and gas reserves, burgeoning requirement for oil and gas products, and recovery in worldwide crude oil prices. 

Centralizers are basically casing tools which are used for retaining uniformity of the cement sheath around the pipe. In simpler terms, these tools play the role of a seal between casing and wellbore. On the other hand, float equipment is used to reduce strain on derrick and provide a landing platform for top and bottom cementing plugs and backpressure valve for preventing the flowing back of the cement into the inner diameter of the well casing.

Moreover, with the increasing energy consumption, upstream E&P activities will surge in the upcoming years. According to the estimates of the Organization of Petroleum Exporting Countries (OPEC), the demand for oil all over the world is predicted to grow from 95.4 million b/d in 2016 to 111.1 million b/d by 2040. Depending on equipment type, the centralizers and float equipment market is divided into float equipment and centralizers. Between these, the float equipment category dominated the market in 2018. This category is also expected to surge sharply in the coming years, on account of the launch of several oil and gas E&P projects and moderate prices of float equipment. 

When application is taken into consideration, the centralizers and float equipment market is classified into offshore and onshore. Between these, the onshore category led the market, by accounting for over 80% of the market shares in 2018. This is credited to the large-scale E&P activities that were carried out in onshore oil and gas fields during the last few years. Moreover, nearly 80% of the worldwide oil and gas drilling wells were made in onshore fields. In the future years, the offshore category is predicted to register faster growth. 

Therefore, the market is set for prosperity in the coming years, owing to the increasing oil and gas E&P activities, because of the surging demand for oil and gas in various industries.

Why is Medical Sector Using Polytetrafluoroethylene?

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Polytetrafluoroethylene (PTFE), commonly known as Teflon, is a fluoropolymer used in the production of electronic products such as barb insulators, cable ties, connectors, battery binders, circuit breakers, brush holders, and semiconductor devices. The increasing use of the material in the electrical and electronics industry can be attributed to the chemically inert, non-flammable, and non-toxic features of PTFE. Moreover, the hydrophobicity, non-reactivity, good insulating property, and low coefficient of friction of the material makes it ideal for nonstick coating for cookware.

Additionally, the rising application of the fluoropolymer in the medical sector is expected to drive the polytetrafluoroethylene market at a CAGR of 5% during the forecast period (2019–2024). The market revenue stood at $2,197.8 million in 2018 and it is projected to reach $2,953.6 million revenue by 2024. PTFE has substituted conventional plastics in several medical applications as it is a biocompatible material. Moreover, the escalating investments in research and development (R&D) and introduction of improved PTFE-based products has resulted in the production of advanced materials that offer better protection to medical components and equipment.

According to P&S Intelligence, Asia-Pacific consumed the largest volume of PTFE in the recent past, and it is projected to adopt this material at the fastest pace in the coming years. This can be credited to the increasing production of automobiles, rising industrial processing activities, and burgeoning demand for consumer electronics in the region. In the coming years, China will emerge as the largest consumer of PTFE, due to the presence of a large number of electronics manufacturers in the country.

Thus, the mounting demand for electronics, beauty products, and medical products will boost the adoption of PTFE in the coming years.

Source: www.psmarketresearch.com

Chloromethane Sales To Skyrocket in Asia-Pacific in Near Future

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The mushrooming use of chloromethanes as a raw material for producing industrial solvents is driving its demand across the world. Large quantities of this compound are processed for producing dimethyldichlorosilane and various associated organosilicon compounds. Dimethyldichlorosilane basically serves as a precursor to the silicones that are heavily used for producing medicines, sealants, adhesives, lubricants, and cooking utensils and also in electrical and thermal insulation. In addition to this, several other derivatives of chloromethane such as trimethylsilyl chloride and methyltrichlorosilane are heavily used as solvents in various chemical processes.

Many exporters and producers of chloromethanes are rapidly setting up their warehouses and plants, respectively, in the Latin American (LATAM) and Middle East and Africa (MEA) regions, primarily because of the presence of a well-established agriculture industry and an untapped pharmaceutical industry and surging oil and gas exploration and production (E&P) activities in the regions. Moreover, many overseas chloromethane producers are rapidly establishing new production facilities, expanding their existing plants, and improving their current production efficiency in order to leverage the soaring growth opportunities being generated in the regions.

For example, Nouryon, which was earlier known as AkzoNobel N.V., announced in April 2019 that it aims to expand the production capacity of its facility in Frankfurt, Germany to take maximum advantage of the booming opportunities. Due to these measures, the global chloromethanes market is predicted to exhibit huge expansion in the coming years. According to the forecast of P&S Intelligence, a market research company based in India, the market revenue will surge from $2,675.9 million in 2018 to $3,286.9 million by 2024.

Globally, the sales of chloromethanes were observed to be the highest in the Asia-Pacific (APAC) region in the past years. Moreover, the chloromethanes market is predicted to exhibit the fastest growth in APAC in the forthcoming years. This is attributed to the soaring production and usage of chloromethanes in the regional countries such as India and China. China holds a major share in the global market, as it is one of the world’s biggest producers of several chemicals and intermediates, pharmaceuticals, and agrochemicals.

Hence, it is safe to say that the sales of chloromethanes will explode in the coming years, mainly because of the growing requirement for the compound in the production of various chemicals and industrial solvents.

Source: www.psmarketresearch.com

Advantageous Properties of Structural Adhesives Driving their Demand in Automotive Industry

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The transportation sector is switching from traditional fasteners to structural adhesives, due to the surging preference for high structural strength vehicles like automobiles, ships, and airplanes. This shift can be owed to the lower cost, better fuel economy, eco-friendliness, and lesser weight of structural adhesives, as compared to fasteners. In addition, these adhesives also have the ability to lower differential expansion rates, a natural, watertight, and inert protective barrier between potentially corrosive metals. Thus, these benefits will fuel the adoption of structural adhesives in the coming years.

In addition, the rising application of structural adhesives in the infrastructure sector will drive the structural adhesives market at 5.2% CAGR during 2019–2024. The market was valued at $11,677.9 million in 2018 and it is expected to reach $15,683.0 million by 2024. These products are used to bind several surfaces and for repairing roads, railways, and bridges, owing to their high strength and resistance toward chemicals, temperature, and weather. Also, rapid urbanization has led to the construction of several residential and commercial units, which require large quantities of structural adhesives for binding purposes.

The technology segment of the structural adhesives market is categorized into solvent-based, solid reactive, water-based, and others. Among these, the solid reactive category accounted for the largest market share in 2018. These adhesives are primarily used in production of automobiles for the adhesion of several materials like aluminum and steel, and components of the vehicles. Other applications of structural adhesives in the automobile sector include sheet molding, roof linings, glazing, and bonding of seat units. 

The widening application base of such adhesives has encouraged market players like DuPont de Nemours Inc., Parker Hannifin Corporation, Illinois Tool Works Inc., H.B. Fuller Company, Sika AG, Arkema Group, 3M company, and Henkel AG & Co. KGaA to expand their product portfolio. These players are involved in the production of structural adhesives like urethane, epoxy, anaerobic, acrylic, instant adhesive, and polyurethane. Owing to the global presence, these companies are able to sell their products in several regional markets.

Thus, the growth of the construction, transportation, and automotive sectors will lead to the largescale consumption of structural adhesives in the coming years.

Source: www.psmarketresearch.com

Why Is Food and Beverage Packaging Sector Creating High Demand for Acrylic Adhesives?

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The surging use of low-tack adhesives (LTAs) in reclosable packaging solutions, due to their high-adhesion property, is fueling the production of packaging adhesives across the world. Moreover, the cost-effectiveness and better usability of LTAs are also fueling their adoption by packaging product manufacturers. Unlike zipper sales, LTAs are not required to be precisely aligned to be reclosed. Furthermore, these new types of adhesives do not collect crumbs, dust, or other product pieces like traditional packaging adhesives. 

Moreover, the large-scale consumption of adhesives in the food and beverage packaging sector, primarily on account of the increasing customer awareness regarding health, will also fuel the packaging adhesives market at a CAGR of 4.6% during 2020–2030. According to P&S Intelligence, the market was valued at $10,426.9 million in 2019 and it is projected to reach a revenue of $17,137.4 million by 2030. The usage of packaging adhesives in the food and beverage sector helps in maintaining the freshness and increasing the shelf-life of the products.

Geographically, Far East dominated the packaging adhesives market in the past and it is expected to maintain its dominance in the coming years as well. This can be attributed to the large-scale usage of packaging adhesives in the e-commerce, personal care, consumer good, and food and beverage industries of China. In addition, the flourishing e-commerce sector in China and Japan, on account of the convenience of direct product delivery at home, is propelling the demand for such materials in the region.

Thus, the rising shift toward LTAs and soaring concerns regarding health will amplify the usage of adhesives in packaging applications.

Ballooning Usage of Eco-Friendly Flame Retardants Fueling Global Bromine Market Boom

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The global bromine market generated a revenue of $1,864.3 million in 2019. Furthermore, it will advance at a CAGR of 5.7% between 2020 and 2030, as per the estimates of P&S Intelligence, a market research company based in India. The market is being driven by the growing usage of bromine compounds for reducing mercury emissions, surging utilization of environment-friendly polymeric flame retardants, and the soaring adoption of clear brine fluids during drilling for oil and gas. 

Clear brine fluids are heavily used in gas and oil drilling activities, on account of their ability to reduce the temperature and bottom hole pressure in the borewells. Many soluble salts are added to them after taking into consideration the clarity, temperature/pressure freeze points, and freezing points of the wells. Brines exhibit high wellbore stability in the salt, lesser fine-hole formation, fill, and gauge damage, and faster shale penetration than the other fluids.

When application is taken into consideration, the bromine market is categorized into flame retardants, clear brine fluids, water treatment, and pharmaceuticals. Amongst these, the flame retardants category led the market in 2019, due to the fact that various bromine compounds such as ethyl bromide, allyl bromide, vinyl bromide, and ammonium bromide are extensively used in fire extinguishers and retardants. These chemicals not only help in putting out the fire, but they also reduce the flammability of the materials containing them. 

Across the globe, the Asia-Pacific (APAC) region is predicted to generate the highest revenue in the bromine market till 2030. This will be because of the surging urban population and the increasing disposable income of the people residing in the region. Additionally, the soaring demand for electronic and plastic products in the regional countries such as Japan, Thailand, South Korea, and China is also driving the market expansion, as bromine-based flame retardants are heavily used in these products.  

Hence, it is safe to say that the market will register rapid expansion in the upcoming years, mainly because of the surging requirement for clear brine fluids in oil and gas E&P activities and the rising popularity of polymeric flame retardants across the world.

Global Retail E-Commerce Packaging Market Revenue To Surge Above $60,000 By 2030

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The global retail e-commerce packaging market was valued at $19,022.7 million in 2019, and it is expected to attain a revenue of $68,388.1 million by 2030. Furthermore, the market will progress at a CAGR o 12.1% from 2020 to 2030, as per the forecast of P&S Intelligence, a market research company based in India. The factors driving the expansion of the market are the increasing population in several countries and the growing affordability of smartphones and internet connections. 

Another major factor fueling the growth of the retail e-commerce packaging market is the increasing affordability of smartphones and internet connections, mainly because of technological advancements and innovations and the surging competition in the telecommunications industry in several countries. This is, in turn, driving the advancement of several digital industries such as e-commerce, which is subsequently propelling the demand for packaging products across the world, thereby powering the expansion of the market.

Besides the aforementioned factor, the changing buying behavior customers, the growing popularity of online channels, and the mushrooming adoption of advanced technologies by millennials are also driving the progress of the e-commerce industry and thus, fueling the sales of packaging products. In addition to these factors, the COVID-19 pandemic is also powering the growth of the retail e-commerce packaging market. This is because the pandemic is driving the penetration of the internet and smartphones and digitization all over the world.

Depending on material type, the market is divided into envelopes, boxes, and others, such as bubble wraps, tapes and labels, and air cushions categories. Amongst these, the boxes category contributed the highest revenue to the market from 2014 to 2019. Geographically, the Asia-Pacific (APAC) region held the largest share in the retail e-commerce packaging market in 2019, and this trend will continue in the coming years as well, primarily due to the thriving e-commerce industry in the region. 

Hence, it can be said without any hesitation that the market will surge sharply in the forthcoming years, mainly because of the increasing penetration of the internet and smartphones and the ballooning popularity of online shopping around the world.

Source: www.psmarketresearch.com

Increasing Electric Vehicle Deployment Adding Wings to Worldwide Graphite Demand

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The increasing production of steel, due to the mushrooming requirement for steel products in end-use industries such as automotive, residential (household use), construction, and oil & gas, is fueling the global demand for graphite. As per the World Steel Association, the worldwide crude steel production increased from 1,814 million tons in 2018 to 1,869 million tons in 2019. Graphite exhibits high corrosion resistance and excellent strength and durability at extreme temperatures.

As natural graphite is cheaper than synthetic graphite and lithium titanate, the mushrooming sales of Li-ion batteries are driving the worldwide demand for graphite. This is, in turn, causing the expansion of the global graphite market. As a result, the revenue of the market is predicted to rise from $19,092.9 million in 2019 to $36,889.1 million by 2030. Furthermore, the market is predicted to advance at a CAGR of 7.4% from 2020 to 2030.

Depending on application, the market is divided into refractories, electrodes, foundries, lubricants, batteries, graphite shapes, and friction products categories. Out of these, the electrodes category dominated the graphite market in 2019. This was because graphite electrodes were used extensively in electric arc furnaces, as they were the primary heating elements. These furnaces were used during steel manufacturing, where scrap from old appliances or vehicles is melted for producing crude steel. 

Additionally, graphite electrodes have various beneficial traits such as the ability to withstand extremely high levels of heat and high electrical conductivity and are thus, extensively used in the steel manufacturing process. When end-use industry is taken into consideration, the graphite market is classified into automotive, metallurgy, and electronics categories. Out of these, the automotive category is predicted to hold the largest share in the market in the upcoming years.

Hence, it is safe to say that the demand for graphite will shoot up in the forthcoming years, primarily because of its increasing usage in the steel production process and Li-ion batteries and the mushrooming production of steel and the ballooning sales of Li-ion batteries, on account of the growing deployment of electric vehicles, across the world.

Source: www.psmarketresearch.com