Why is Worldwide Demand for UV-cured Printing Inks Surging?

The surging requirement of printing inks in several end-use industries, such as advertising, labeling, and packaging, is fueling their sales across the world. With the increasing gross domestic product (GDP) of many countries, surging disposable income of people, mushrooming population of young individuals, and rapidly changing lifestyles of people, the demand for packaged products is soaring, which is, in turn, driving the expansion of the packaging industry. This is subsequently fueling the requirement for printing inks.

The adoption of printing inks in the packaging industry is predicted to soar in the coming years, primarily because of their growing requirement in labels and tags, flexible materials, and metal cans. Besides, the rising demand for ultra violet (UV)-cured printing inks is also propelling their sales across the world. These printing inks provide low heat generation, zero ozone generation, long service life, and energy efficiency. Moreover, these printing inks are environment-friendly. 

Organizations, such as Co. KGaA and Siegwek Druckfarben AG are increasingly focusing on producing innovative and environment-friendly printing inks, such as UV-cured inks and water-based inks in order to achieve short production time and optimal efficiency. Furthermore, the growing public awareness about the benefits of using flexible printing products in directories, periodicals, inserts, catalogs, and magazines is also driving the expansion of the global printing inks market.

Globally, the sales of printing inks were observed to be the highest in North America in the years gone by. In this region, the demand for these inks was the highest in the U.S. during the last few years. On the other hand, in the Asia-Pacific (APAC) region, the sales of these inks were the highest in China, while Germany dominated the European printing inks market in the past years. Additionally, in Latin America, Brazil witnessed the highest demand for these inks, while Turkey registered the highest sales of these inks in Middle East and Africa during the past few years. 

Hence, it can be said without any hesitation that the demand for printing inks will surge sharply in the coming years, mainly because of their growing requirement in various end use industries, such as packaging and advertising.

Why Are Acrylic Surface Coatings Beneficial for Environment?

Low levels of volatile organic compounds (VOCs) in acrylic surface coatings have led to the increased adoption of such coatings. This can be ascribed to the growing awareness about harmful effects of VOCs like cancer and respiratory illnesses. Moreover, the amplifying environmental concerns, has encouraged manufacturers and customers to shift toward acrylic products. On account of these reasons, governments of various countries have amended norms to lower VOC emission levels. Thus, they are implementing stringent regulations to coerce the manufacturers to develop eco-friendly coatings.

Moreover, increasing usage of coatings for decorative purposes will escalate the acrylic surface coating market at 5.2% CAGR during forecast period. The market was valued at $24,121.1 million in 2015 and it is expected to reach $34,720.3 million by 2022. These coatings are used for amplifying the aesthetic value of vehicles, interior and exterior walls, and furniture. High volume adoption of decorative coatings can be owed to the rapid urbanization and surge in disposable income, globally. Moreover, rising investments in the infrastructure sector, especially in developing nations, will boost the utilization of acrylic surface coatings in the foreseeable future.

According to P&S Intelligence, Asia-Pacific (APAC) will lead the acrylic surface coating market in the coming years, while displaying the fastest growth. This can be attributed to the vast consumer base, stringent norms for utilization of environment-friendly coatings, and huge investments in the infrastructure sector. Besides, the growing automotive industry and rising purchasing power of people in the region will propel the adoption of acrylic surface coatings in the future. For instance, China is one of the leading automobile manufacturing hubs, which uses a large quantity of coatings to enhance the aesthetic appeal of vehicles produced in the country.

Thus, the environment-friendly nature of acrylic surface coatings will boost their application in the automobile, construction, and furniture sectors, worldwide.

Why Are Data Centers Amplifying Diesel Generator Set Need in U.S.?

The increasing number of data centers in the U.S., on account of the rising need for additional data storage space, owing to the rapid evolution and adoption of 5G, internet of things (IoT), and edge computing technologies in the country, is creating a high requirement for power backup facilities. This power backup need in the U.S. is being met by diesel gensets. Moreover, the soaring investments being made in the development of data centers will also augment the need for diesel gensets in the country. 

Besides, the rising number of power cut instances in the country, mainly on account of overloading and the presence of an aging power grid infrastructure, will also fuel the U.S. diesel genset market at a CAGR of 7.2% during 2020–2030. According to P&S Intelligence, the market value is expected to rise from $2,187.4 million in 2019 to $3,797.6 million by 2030. According to the U.S. Energy Information Administration (EIA), the instances of power outages in the country surged from 95 in 2017 to 127 in 2018.

In the coming years, the residential sector is expected to install diesel gensets at the fastest pace, owing to the vast requirement for prime backup and standalone power. Residential units, such as mobile homes, on-lease properties, and family houses, have been increasingly deploying such power generating systems, due to the surging instance of power outages and amplifying load on the grid system. Moreover, the low initial cost of diesel gensets and their high reliability will further augment their usage in residential facilities in the foreseeable future.

The burgeoning need for backup and standalone power in the country is being met by Atlas Copco AB, Caterpillar Inc., Kohler Co., Cummins Inc., SouthWest Products Corporation, Generac Holdings Inc., and American Honda Motor Co. Inc. These players of the U.S. diesel genset market are currently engaging in product launches to reach out to more customers. For instance, in March 2020, Caterpillar Inc. introduced a new line of standby power solutions, named Cat GC diesel generator sets. This new series consists of eight new models with standby power ratings 250 kW–60 kW. 

Thus, the booming number of data centers, expanding construction sector, and growing power outage instances in the U.S. will fuel the need for diesel gensets in the country in the forthcoming years.

Why are Worldwide Sales of Nanoporous Materials Booming?

Nanoporous materials are basically materials that comprise a regular organic or inorganic framework which reinforced a regular porous structure. These pores generally have a size of around 100 nanometers or sometimes even smaller. Most of these materials are classified as membranes or bulk materials. As nanoporous materials have large surfaces, they exhibit excellent catalytic and absorbent properties, which make them highly suitable for use as absorbents and catalysts. Moreover, some organic nanoporous materials can be made artificially.

According to the International Union of Pure and Applied Chemistry (IUPAC), nanoporous materials are segregated into three segments namely microporous materials with a pore size in the 0.2–2nm range, mesoporous materials with pore size in the 2–50nm range, and microporous materials with pore size more than 50nm. Nanoporous materials are also used in ion-exchange applications. Moreover, they are needed in nano reactors, guest-host interaction, and low dielectric constant mediation. In addition, they are extensively used in biomedical applications for preventing bacteria and decontamination, slowing down drug release, and filtration in hemodialysis. 

Because of the large-scale use of nanoporous materials in the above-mentioned applications, the global nanoporous materials market is predicted to exhibit huge expansion in the coming years. The market generated a revenue of $6,411.7 million in 2015 and it will progress at a CAGR of 8.3% from 2016 to 2022, as per the estimates of P&S Intelligence, a market research company based in India. Petroleum refining, water treatment, pet litter, chemical processing, food and beverages, and detergents are the major end-users of these materials.

Hence, it can be said without hesitation that the sales of nanoporous materials will soar all over the world in the coming years, mainly because of their mushrooming usage in various end-use industries, such as chemicals, petroleum, and food and beverages. 

Why are Sales of Inorganic Salts Soaring in Asia-Pacific?

With the mushrooming consumption of salt, expansion of the agrochemical industry, and surging application pool of inorganic salts in the chemical producing industry, the worldwide demand for inorganic salts is soaring. Inorganic salts are heavily required in the chemicals industry, as they are needed for use as the primary feedstock in the production of synthetic soda ash and chlor alkali. Moreover, inorganic salts, such as magnesium oxides are extensively used as antacids in the pharmaceutical sector and also as ‘epsom’ salts in the cement manufacturing sector.

Additionally, inorganic salts, such as calcium salts, zinc salts and nitrates, and ammonium phosphate are heavily used as fertilizers in agricultural processes, owing to their ability to enrich soil nutrients. Furthermore, zinc oxide is an important component for the vulcanization of rubber during rubber processing. Inorganic salts are also used as catalysts in animal feed in small portions. Due to these factors, the demand for inorganic salts is surging sharply across the world, which is causing the expansion of the global inorganic salts market.

Geographically, the demand for inorganic salts was found to be the highest in the Asia-Pacific (APAC) region in the years gone by. In this region, China is currently the largest consumer of these salts, primarily because of the expansion of the chemical industry in the country. In addition, the surging construction and infrastructure development activities are also predicted to fuel the requirement for inorganic salts in the country in the coming years.

The sales of inorganic salts are also predicted to rise sharply in India over the next few years, owing to the boom in the healthcare sector. As these salts are required for producing generic drugs, the surge in the healthcare sector is positively impacting their demand in the country. Furthermore, many countries in Europe are using acetate inorganic salts for producing apparels, home furnishings, dress linings, and upholstery, which is boosting the advancement of the inorganic salts market in the continent. Similarly, the industry is also booming in the U.S. and several Middle-Eastern countries, on account of the large-scale usage of sulphates for chemical processing in these nations. 

Hence, the demand for inorganic salts is certain to shoot up all over the world in the upcoming years, mainly because of the growing use of various inorganic salts in the chemical, pharmaceutical, healthcare, agriculture, and construction sectors. 

Why Do Photovoltaic Cell Manufacturers Use Acetyls?

Organic compounds containing a methyl group joined with a carbonyl group by a single bond are known as acetyls. The acetyl group is primarily found in acetic acid, acetylsalicylic acid, acetylcysteine, acetylcholine, and acetaminophen. Acetylation refers to the chemical process of formulating the acetyl group into a molecule. The acetyl groups of acetic anhydride, vinyl acetate monomers, and acetic acid are used in the intermediates themselves used in the production of inks, adhesives, solvents, and water-based paints.

Large volumes of acetyls are being used in the production of purified terephthalic acid (PTA) and ester solvents, which require acetic acid in abundance. Thus, the surging use of acetic acid in the production of PTA and ester solvents will help the acetyls market progress at a CAGR of 6.9% during 2016–2022. According to P&S Intelligence, the market had a value of $22,004.7 million in 2015. Additionally, the burgeoning demand for adhesives from numerous industries will propel the consumption of vinyl acetate monomers globally.

Geographically, Asia-Pacific (APAC) consumed the highest volume of acetyls in the recent past, and it is also expected to adopt these compounds at the highest rate in the forthcoming years. This can be attributed to the flourishing electronics sector, expanding automotive manufacturing base, and increasing investments in the oil and gas sector in the region. Moreover, the surging healthcare expenditure, owing to the mounting per capita income and improving living standards of people, will augment the consumption of acetyls in the region.

Furthermore, the Rest of the World (RoW) acetyls market is expected to register a significant sale of these chemicals in the upcoming years. This will be due to the mounting investments being made in the automotive, pharmaceutical, and oil and gas industries in the region. Besides, the accelerating industrialization and urbanization rates will propel the consumption of the compounds in RoW. Acetyl requirements of end-use industries of APAC and RoW are met by Eastman Chemical Company, DuPont, The Dow Chemical Company, Jubilant Life Sciences, Wacker Chemie AG, BP PLC, Helm AG, and Celanese Corporation.

Thus, the burgeoning demand for acetic acid and increasing installation of PV cells will fuel the consumption of acetyls globally.

Why is Demand for Tungsten Carbide Exploding?

The growing adoption of tungsten carbide in various industries such as oil & gas, defense, metalworking, power generation, and automotive is fueling its sales across the world. Tungsten carbide exhibits high stiffness and thermal conductivity and provides good resistance against ethanol, gasoline, acetone, water, ammonia, organic solvents, and weak acids. It can be easily molded and pressed into various sizes and shapes for use in applications in cutting tools, equipment, industrial machinery, abrasives, and drills. 

Besides, the recovery in the oil and gas industry and increasing oil and gas exploration & production (E&P) activities and expansion of the metalworking industry are also propelling the demand for tungsten carbide across the world. Due to these factors, the global tungsten carbide market is exhibiting huge expansion, as a result of which, the revenue of the market is predicted to rise from $1,762.1 million in 2017 to $2,176.8 million by 2023, while the market will advance at a CAGR of 3.6% from 2018 to 2023 (forecast period).

Geographically, the tungsten carbide market will register the fastest growth in the Asia-Pacific (APAC) region in the coming years, as per the estimates of the market research company, P&S Intelligence. This will be because of the growing requirement for tungsten carbide powder in the automotive industry. For example, China witnessed the largest manufacturing of commercial vehicles and passenger cars in the world in 2017. The manufacturing of motor vehicles grew in the country from 28.1 million in 2016 to 29.0 million in 2017. 

Hence, it is safe to say that the demand for tungsten carbide will rise enormously in the coming years, primarily because of the growing usage of the material in the automotive, construction, and oil & gas industries, which are themselves exhibiting huge expansion all over the world.

Why Are Old Iron Water and Sewage Pipes Being Replaced with FRP Variants?

Despite a strong focus on reducing the consumption of fossil fuels, the demand for crude oil and natural gas keeps increasing. For instance, oil imports to India grew from $70.72 billion in 2016–17 to $101.4 billion in value in 2019–20, says the India Brand Equity Foundation (IBEF). Similarly, according to the Organisation for Economic Co-operation and Development (OECD), worldwide crude oil production increased from 3.41 million tonnes of oil equivalent (Mtoe) in 2000 to 3.97 Mtoe in 2017. This has been possible because of the rampant exploration and production (E&P) activities being undertaken around the world.

As per P&S Intelligence, the rising E&P activities will be one of the many reasons behind the growth of the fiber-reinforced plastics (FRP) pipe market value to $3.8 billion by 2023 from $2,134.4 million in 2016, at an 8.4% CAGR between 2017 and 2023. This is because these pipes are widely used in the oil & gas industry as they conform to the safety requirements this sector has to meet. These pipes possess high tensile and impact strength and fire resistance, which make them suitable and reliable for oil & gas companies.

Currently, the FRP pipe market is led by Asia-Pacific (APAC), which is home to the most people and largest manufacturing sector in the world. In addition, urbanization is also the fastest in this region, with the UN saying that among the countries leading this demographic shift in the coming years, China and India will be two of the most significant. Already, Tokyo, Delhi, and Shanghai are number one, two, and three, respectively, on the list of the most-populated cities in the world, with Dhaka, Mumbai, and Beijing also prominent names on it.

Hence, with the booming urban population driving industrial production and demand for potable water, the adoption of FRP pipes will burgeon.

Surging Need for Water Treatment Driving PVDF Membrane Demand in Asia-Pacific

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

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

This will be because of their large-scale usage in water purification processes and their ability to operate in a low-pressure environment with a high-water flux and enhanced rejection for even the smallest monovalent ions. Biopharmaceutical, food and beverage, and water and wastewater treatment are the major application areas of PVDF membranes. Out of these, the requirement for these membranes was observed to be the highest in the biopharmaceutical applications in the years gone by. 

This is credited to the boom in the biopharmaceutical industry, because of the rising requirement for vaccines and more purified drugs, on account of the surging prevalence of various diseases. Globally, the demand for the PVDF membranes was the highest in North America during the last few years. This was because of the huge requirement for the membrane technology in the food and beverage, water and wastewater treatment, and biopharmaceutical industries in the region. 

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

Why Are Automakers Using Injection Molded Plastics?

Plastics have become an important part of automobiles, as they are capable of reducing the overall weight of vehicles by a significant margin. Automakers across the world are focusing on the production of lightweight vehicles, as these automobiles help in enhancing fuel efficiency. According to the U.S. Department of Energy, a 10% reduction in vehicle weight can lead to an improvement of 6–8% fuel economy. Thus, the increasing emphasis of automobile manufacturers on enhancing fuel efficiency will fuel the adoption of injection molded plastics in the automotive sector in the foreseeable future.

Moreover, the rising preference for biodegradable polymers among medical device manufacturing companies will drive the injection molded plastics market at a CAGR of 6% during the forecast period (2017–2025). According to P&S Intelligence, the market revenue stood at $283.5 billion in 2016, and it is projected to reach $496.2 billion by 2025. The surging consumption of this form of plastic can be attributed to the implementation of stringent regulations by governments regarding the use of eco-friendly medical grade polymers in the healthcare sector.

Geographically, Asia-Pacific (APAC) accounted for the largest share in the injection molded plastics market in 2016, and it is expected to retain its dominance throughout the forecast period as well. This can be primarily ascribed to the soaring demand for packaging solutions from the cosmetics and toiletries and food and beverage industries in the region. In the APAC market, China is expected to generate the highest revenue during the forecast period, due to the presence of a large number of automobile and electronics manufacturing facilities in the country. 

Thus, the booming demand for lightweight vehicles and FMCG products will fuel the consumption of injection molded plastics in the forthcoming years.

Booming Food & Beverage Industry Augmenting Sales of Extrusion Coatings

With the ballooning sales of electronic items, sporting goods, personal care products, and consumer goods, the demand for extrusion coatings are rising sharply across the globe. Extrusion coating materials are extensively used in the production of papers, paperboards, and packaging films, that are widely required for packaging various consumer products. Moreover, the mushrooming requirement for several types of packaging solutions in various industries is also fueling the demand for extrusion coatings around the world.

The other major factor propelling the demand for these coatings is the expansion of food and beverage industry in several countries, primarily because of the surging population, increasing disposable income, and the growing public awareness about health. Increasing health concerns among people are pushing up the demand for sugar-free, lactose-free, gluten-free, and low-calorie food products. In the food and beverage industry, extrusion coating materials are heavily used in packaging applications.

This is because their ability to protect the product from various external environmental factors and improve its aesthetics. Besides these factors, the rapid economic progress of various developing countries in Latin America (LATAM), Asia-Pacific (APAC), and Middle East and Africa (MEA) is also positively impacting the demand for extrusion coatings across the world. This is because of the boom in the healthcare, food and beverage, personal care, consumer goods, and electronics industries in these countries.

According to the International Trade Administration (ITA), the value of the healthcare industry in India was $110 billion in 2016, and it is predicted to rise to $280 billion by 2020, due to the surging requirement for healthcare products and services in the country. This will subsequently propel the demand for extrusion coatings, which will, in turn, fuel the expansion of the global extrusion coating market in the coming years.

Geographically, the sales of extrusion coating materials will surge in Europe and Asia-Pacific (APAC) in the coming years, as per the estimates of the market research company, P&S Intelligence. This will be because of the soaring usage of paper-based containers and liquid cartons in the food and beverage industry in these regions. Apart from this factor, the increasing disposable income of people and the rapid price deflation are also augmenting the requirement for packaged food items in these regions.

Hence, it can be safely said that the demand for extrusion coating materials will shoot up in the upcoming years, primarily because of the mushrooming sales of consumer goods and electronic items and the growing requirement for packaged food products all over the world.

How Are Automakers Reducing Vehicle Weight Through Automotive NVH Materials?

Agents or substances capable of blocking or reducing the noise, vibrations, and harshness (NVH) originating from automobile parts, such as brake and accelerator pedals, engine boxes, armrests, and steering wheels, are known as automotive NVH materials. NVH is usually sensed at the engine box, steering wheel, armrests, pedals, and floor of the vehicle. At present, bio-based-polyurethane is gaining traction as an NVH material due to the surging focus of the automobile industry on pollution control and environment preservation.

The adoption of NVH materials in automobiles helps in reducing the overall vehicle weight, owing to which a surge in lightweight vehicle production and adoption will drive the automotive NVH materials market at a CAGR of 7.2% during the forecast period. The market was valued at $7,579.8 million in 2017, and it is expected to generate $11,467.5 million revenue by 2023. As lightweight vehicles help in reducing emissions, conserving energy, and decreasing wear and tear on brakes and tires, automakers across the world are using NVH materials in abundance.

The application segment of the automotive NVH materials market is classified into insulation, vibration damping, and sound absorption. Under this segment, the sound absorption category is expected to demonstrate the fastest growth throughout the forecast period due to the soaring number of complaints of unwanted noise from vehicle parts. For instance, according to the European Union (EU), approximately 40% of the EU populace is exposed to road traffic noise at levels exceeding 55 decibels.

According to P&S Intelligence, Asia-Pacific (APAC) dominated the automotive NVH materials market during the historical period (2013–2017) owing to the rising automobile production and sale in developing countries, such as China and India. Whereas, North America held the second position in the market in 2017 owing to the soaring disposable income of people and mounting investments being made in the automotive sector of the region. Automobile manufacturers in this region are largely focusing on improving the overall ride quality and reducing NVH.

Therefore, the booming demand for lightweight vehicles and rising focus of automakers on reducing cabin sounds, engine vibrations, and suspension feedback of vehicles will create a huge requirement for NVH materials.

Surging Lightweight Vehicle Sales Driving Automotive Adhesives and Sealants Demand in APAC

Automotive adhesives and sealants refer to the substances that are used for several bonding and sealing applications in the automobile industry. These substances are chemically similar but functionally different. Such adhesives and sealants help in enhancing performance, driving experience, reliability, and vehicle safety. These substances are being used in large quantities in Indonesia, Thailand, Vietnam, the Philippines, Japan, and China, due to the implementation of automotive fuel economy policies in such Asia-Pacific (APAC) countries. As adhesives and sealants improve the fuel economy of light trucks and cars, automakers have started using them in large quantities.

Moreover, the surging preference for lightweight vehicles, for optimizing the speed and power of automobiles, will also help the APAC automotive adhesives and sealants market advance at a CAGR of 6.5% during forecast period. The market was valued at $3,403.6 million in 2017 and it is expected to reach $4,938.0 million revenue by 2023. In recent years, the automotive industry has been replacing steel with lightweight materials such as aluminum, composites, and plastic, to improve the fuel efficiency of vehicles.

At present, the aforementioned companies are largely involved in the production of epoxy, due to their increasing adoption in the automotive industry, owing to their high-temperature stability, excellent dimensional stability, exceptional heat-resistance, surface hardness, fire-resistance, cost-effectiveness, and very low flammability properties. Additionally, these companies are also producing hot melts, rubber, acrylics, silicones, polyurethanes, and polyvinyl chloride (PVC), as they are required in the automobile industry. Currently, automotive adhesives and sealants producing companies are largely focusing on developing technologically improved products to improve the fuel economy of vehicles.

According to P&S Intelligence, China dominated the APAC automotive adhesives and sealants market in the recent past, due to the presence of a strong automotive manufacturing base in the country. Moreover, the high purchasing power parity and high nominal gross domestic product (GDP) of the country also fuels the consumption of adhesives and sealants in the automobile industry. China is one of the largest exporters of such substances in the world. 

Therefore, the increasing implementation of government policies aimed at promoting automotive fuel economy and the growing shift toward lightweight vehicles will fuel the need for automotive adhesives and sealants in APAC in the foreseeable future.

Why Is Anti-Counterfeit Packaging Essential for Pharmaceutical Sector?

In 2019, counterfeit goods accounted for 3.3% of the global retail sales value, as per the Organisation for Economic Co-operation and Development (OECD). In 2007, the total sales value of counterfeit goods was $250 billion, which increased massively to $461 billion in 2016! Counterfeiting not only includes manufacturing cheap copies of branded products, but also copying the labeling and packaging of the originals. As a result, P&S Intelligence expects the anti-counterfeit packaging market value to increase from $114.4 billion in 2017 to $208.3 billion by 2023, at a 10.9% CAGR between 2018 and 2023. 

With the growing trade of counterfeits, companies manufacturing the originals are taking steps to tackle this problem, as it not only affects their brand image and revenue generation, but could also be hazardous to human health, such as in case of fake food, personal care, cosmetic and pharmaceutical products. In developing countries, where the laws are either weak or not properly implemented, it is easy to produce counterfeit goods. As such products are only meant for profits and not brand reputation building, low-cost labor and manufacturing techniques and almost no research and development (R&D) are used to produce them.

Such packaging not only helps stop the trade of counterfeits at numerous points along the supply chain, such as ports and logistics terminals, warehouses, customs checkpoints at airports, wholesale and retail shops, and street hawkers, but also aids in tracking the whereabouts of the original. There are four major types of anti-counterfeit packaging: track & trace, forensic, overt, and covert. Among these, track & trace technologies are the most popular among brands as they allow for the tracking of the original products. Apart from this, it alerts brand owners if the code or hologram is copied for counterfeiting.

Due to this fact, the Asia-Pacific (APAC) region is expected to be the fastest-growing anti-counterfeit packaging market in the years to come. The OECD says that India accounted for the highest value of confiscated fraudulent pharma products in 2016, followed by China. Moreover, as per the United Nations (UN), China and Hong Kong rank at the top considering the export of all counterfeit goods worldwide. Other countries with a high total value of seized fake products globally are India, Singapore, Thailand, and Malaysia.

Hence, with the strengthening of anti-counterfeit laws by governments and international trade bodies, the demand for advanced packaging solutions will only grow.

Burgeoning Paper Demand in Emerging Economies Fueling Cut Size Uncoated Freesheet Paper Sales

Cut size uncoated freesheet paper refers to a type of graphic paper that is manufactured by using about 10% mechanical pulp and 90% chemical pulp. This paper is available in rectangular sheets in three sizes— 210 mm*297 mm (A4), 215 mm*345 mm (legal), and 297 mm*420 mm (A3). A4-sized uncoated freesheet paper is preferred over other types of papers due to its higher compatibility with a variety of printers, such as laser and inkjet printers, and lower cost. 

As cut size uncoated freesheet paper is compatible with a variety of papers, the surging printer sales are expected to accelerate the cut size uncoated freesheet paper market at a CAGR of 2.4% during 2018–2023. The market revenue stood at $16,122.3 million in 2017 and it is projected to reach $18,483.6 million by 2023. Printers are used for producing textual and graphical output received from a computer on a printable medium, such as paper. 

According to P&S Intelligence, Asia-Pacific dominated the cut size uncoated freesheet paper market in the past and it is expected to retain its dominance in the coming years as well. This can be attributed to the soaring number of educational institutes and offices and the flourishing paper industry in the region. Moreover, the mounting printer sales in the region will also boost the consumption of this grade of paper in the forthcoming years. Additionally, the APAC region is also expected to adopt cut size uncoated freesheet paper at the highest rate in the forthcoming years.

Thus, the surging adoption of printers and the rising number of educational institutes in emerging economies will fuel the consumption of cut size uncoated freesheet paper in the foreseeable future. 

Why Is Power Sector Deploying Control Valves?

The escalating energy demand, primarily on account of the booming population, is creating a huge requirement for control valves in the power sector. To meet the high electricity demand, the power industry needs to adopt upgraded equipment for producing, processing, and transporting energy, which narrows down the demand-supply gap considerably. The supply gap can be narrowed by using control valves, which are power-operated devices utilized to manipulate the flow of steam, water, and oil and gas in several power generation plants.

Thus, the expanding power sector will help the control valves market to progress at a CAGR of 6.3% during 2018–2023. The market was valued at $11,137.0 million in 2017 and it is projected to exceed  $16,057.5 million revenue by 2023. Conventionally, control valves were used mechanically, however, the burgeoning energy demand has resulted in the development of control valves having chips or processors, which help in improving the operations of power companies and mitigating unplanned shutdowns. Additionally, processor-embedded control valves also help in predictive maintenance by delivering real-time data on operating conditions and flow rates.

According to P&S Intelligence, Asia-Pacific (APAC) dominated the control valves market in the recent past, and it is expected to adopt these devices at the highest rate in the forthcoming years. This is due to the accelerating economic growth, burgeoning need for energy, rising number of manufacturing companies, and improving infrastructure in the region. Among APAC nations, China adopts the highest volume of control valves, due to the surging number of infrastructural development projects and amplifying use of these devices in the automotive, oil and gas, water and wastewater treatment, and power generation industries in the country.

Thus, the rising demand for energy and burgeoning need for improving operational efficiency in the manufacturing sector will fuel the adoption of control valves in the foreseeable future.

Why Are OEMs and Aftermarkets in Indonesia Using Automotive Refinish Coatings?

The International Organization of Motor Vehicle Manufacturers (OICA) states that 139,886 commercial vehicles and 551,400 cars were manufactured in Indonesia in 2020. OICA further mentions that the country recorded sales of 388,925 passenger cars and 143,152 commercial vehicles in 2020. Original equipment manufacturers (OEMs) and aftermarkets across Indonesia are using refinish coatings on passenger cars and commercial vehicles to increase vehicle age and enhance the aesthetics of such automobiles. Apart from commercial vehicles and passenger cars, such coatings are also applied on two-wheelers for protective and decorative purposes. 

Thus, the escalating automobile sales in this Asian country, primarily on account of the mounting disposable income of people, will help the Indonesian automotive refinish coatings market progress at a CAGR of 4.9% during forecast period. The market revenue stood at  $240.2 million in 2017 and it is expected to reach $336.6 million by 2023. Apart from observing the booming sales of new automobiles, the country is also witnessing a spike in the sales of second-hand vehicles from pre-owned car dealerships. Thus, the rising prevalence of such sales will also amplify the demand for automotive refinish coatings in the country in the coming years.

Nowadays, automotive refinish coating producers, such as PT. NP Auto Refinishes Indonesia, PT. Hartwell Paint Indonesia, Akzo Nobel N.V., KCC Corporation, PT. Anugerah Berkat Cahayaabadi, The Sherwin-Williams Company, BASF SE, and PT PABRIK CAT DAN TINTA PACIFIC PAINT, are offering clearcoats, primers and fillers, and clearcoats to OEMs and organizations operating in the automotive aftermarket in Indonesia. At present, the OEMs and aftermarket companies are preferring clearcoats over other variants, due to their ability to enhance the resistance of the part to the damage caused by foreign substrates and fluids.  Additionally, these coatings are applied over basecoats and metal bodies to prevent cracking and peeling of paints on vehicles. 

According to P&S Intelligence, West Java dominates the Indonesian automotive refinish coatings market. This is due to the presence of a vast customer base, several metropolitan cities, high-volume product demand from the automotive industry, and rapid macroeconomic growth in the region. Moreover, the existence of a large number of body repair shops in West Java will also fuel the consumption of automotive refinish coatings in the region in the forthcoming years.

Thus, the mounting automobile sales will augment the need for automotive refinish coatings in in Indonesia in the foreseeable future.

Demand for Sodium Sulphate Set to Explode in Asia-Pacific in Future

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

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

In recent years, sodium sulphate manufacturers, such as MINERA DE SANTA MARTA S.A., Nafine New Material Co. Ltd., Xinli Chemical, Grupo Industrial Crimidesa, and Jiangsu Yinzhu Chemical Group Co. Ltd., have been largely focusing on geographical expansions, product launches, and mergers and acquisitions to cater to a vast consumer base. For example, in November 2018, an independent private equity firm, Beautiful Mind Capital (BMC), acquired Cordenka from Chequers Capital, with an investment of $268 million. The latter will transfer all its assets, including its Obernburg site, which produces 40,000 metric tons of anhydrous sodium sulphate.

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

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

Increasing Automobile Production Fueling Demand for Automotive OEM Coatings

A number of factors such as the rising technological advancements and innovations and expanding automotive industry in the developing countries will drive the automotive original equipment manufacturer (OEM) coatings market at a CAGR of 4.2% during the forecast period (2019–2024). The market was valued at $10,997.4 million in 2018 and it is projected to reach $13,661.4 million revenue by 2024. In recent years, the surging preference for powder coatings over liquid coatings has become a prominent market trend, due to the lower content of volatile organic compounds (VOCs) in the former.

One of the key growth drivers of the automotive OEM coatings market is the increasing technological advancements being made in automotive OEM coatings in the Asia-Pacific (APAC) region. Coating manufacturing companies in APAC are largely focusing on developing novel products, processes, and technologies to meet the ever-changing demands of automakers. Automobile manufacturers are opting for coatings with greater functionality, low maintenance cost, and reduced emissions. The end users are looking out for advanced coatings to comply with the stringent government regulations.

Moreover, the flourishing automobile industry in countries such as Indonesia, India, and Thailand will also contribute to the market growth in the coming years. The mounting sales of four-wheeler and two-wheeler vehicles in these countries, primarily on account of the escalating purchasing power and improving road connectivity and infrastructure, are driving the demand for these coatings in these Southeast Asian nations. Additionally, the growing strategic alliances between automakers will also fuel the expansion of the market in the forecast years.

Globally, Asia-Pacific (APAC) will account for the largest share in the automotive OEM coatings market throughout the forecast period, while progressing at the highest rate. This can be primarily credited to the presence of leading automobile companies in the region, particularly in India, China, and Indonesia. Among APAC nations, China will generate the highest revenue in the market in the foreseeable future, due to the large-scale production of vehicles in the region. According to the International Trade Administration, the annual domestic automobile production in China will reach around 35 million units by 2025.

Thus, the increasing technological advancements being made in the APAC automotive industry and prospering automobile sector in developing countries will support the market growth in the immediate future.

How Is High Energy Consumption Fueling Net Zero Energy Buildings Construction?

Net zero energy buildings (NZEBs) refer to highly efficient buildings having extremely low energy requirements, that is met by non-conventional energy sources. These structures produce as much energy as they consume annually. To attain their net zero energy goals, buildings must reduce their energy demands by using energy-efficient technologies and utilize non-conventional energy sources to meet the remaining demand. Owing to these properties of NZEBs, governments across the world are taking numerous initiatives to reduce the usage of fossil fuels in residential and commercial buildings. 

Moreover, the surging focus on reducing greenhouse gas (GHG) emissions during electricity production is expected to drive the net zero energy buildings market at a CAGR of 15.6% during the forecast period (2019–2024). According to P&S Intelligence, the market revenue is projected to increase from $896.6 million in 2018 to $2,106.6 million by 2024. According to the World Green Building Council, the construction industry accounts for over 35% of global energy consumption and around 40% of the energy-based carbon dioxide emissions.

Globally, North America accounted for the largest share in the net zero energy buildings market in 2018 and it is projected to exhibit the fastest growth throughout the forecast period. The mounting concerns regarding GHG emission, owing to the increased burning of fossil fuels for electricity generation, will boost the construction of NZEBs, as these buildings can reduce pollution during the construction phase and ensure carbon neutrality. Moreover, the energy consumption targets set by the governments of Canada and the U.S. to attain sustainable energy demand will also support the market growth in the region.

Thus, the accelerating need to meet the high energy demand and curtail GHG emission from the construction sector will augment the construction of NZEBs in the foreseeable future.

Booming Manufacturing Activities Driving Metal Bonding Adhesive Sales in India

The expansion of the manufacturing sector is propelling the sales of metal bonding adhesives in India. As per the India Brand Equity Foundation, the manufacturing sector in India boomed during April 2000–June 2019 and reached a value of $91.2 billion in 2019, mainly due to the surge in foreign direct investments. Additionally, several government initiatives such as ‘Make in India’ have fueled the growth of this sector, thereby creating new avenues for manufacturing firms and for the use of advanced industrial equipment. This is subsequently pushing up the requirement for metal bonding adhesives.

Owing to their low weight, these lightweight adhesives are also being increasingly used in ships and aircrafts. Another major factor fueling the demand for metal bonding adhesives in India is the growth of the healthcare industry. Due to the surging healthcare expenditure of the government, the country’s healthcare industry is predicted to attain a value of $372 billion by 2022. As metal bonding adhesives are heavily used for producing healthcare equipment such as surgical instruments, X-ray machines, implantable devices, and biosensors, the boom in the healthcare industry is positively impacting their sales.

Due to the above-mentioned factors, the value of the Indian metal bonding adhesives market is predicted to rise from $198.9 million in 2019 to $343.6 million by 2030. The market is also expected to advance at a CAGR of 5.2% between 2020 and 2030. Epoxy, acrylic, cyanoacrylate, anaerobic, rubber, and polyurethane are most commonly used metal bonding adhesives in India. Out of these, the demand for epoxy adhesives is predicted to rise at the highest rate in the country in the forthcoming years.

This is credited to the growing adoption of epoxy adhesives for joining the metal sheets used in automobiles and trains. Moreover, these adhesives have features such as high resistance to extreme temperatures, moisture, chemicals, oil, stress, and various other solvents, and are highly compatible with several metals. Automotive, industrial machinery, industrial maintenance, consumer appliances, and construction are the major application areas of metal bonding adhesives in India. Out of these, the usage of these adhesives was the highest in automotive applications in the past years, and this trend will continue in the upcoming years as well.

Thus, it is clear that due to the expansion of the manufacturing, automotive, and healthcare sectors, the sales of metal bonding adhesives will rise tremendously in India in the coming years.

Rapid Shift toward Biofuels Driving Fatty Acid Ester Demand

The increasing consumption of personal care products and cosmetics, owing to the surging female working population and escalating consciousness about physical appearance, will create a huge requirement for fatty acid esters in the forthcoming years. These chemicals are being increasingly used as detergent cleansing agents and as emollients and thickeners in skin creams. Additionally, the rising customer awareness about bio-based cosmetics will fuel the consumption of such esters in the personal care and cosmetics industry.

Moreover, the usage of such chemicals as lubricant additives in automotive, metal cutting, and hydraulic applications will help the fatty acid esters market advance at a 4.6% CAGR during 2020–2030. According to P&S Intelligence, the market was valued at $2,240.9 million in 2019, and it is expected to generate $3,688.9 million revenue by 2030. The rapid shift toward bio-based fatty acid esters can be credited to their lower toxicity and excellent lubricity.

At present, fatty acid ester manufacturers are engaging in mergers and acquisitions and geographical expansions to enhance their customer base. For example, in February 2018, KLK Oleo completed the acquisition of Elementis Specialties Netherlands B.V., which manufactures fatty acid polyglycol esters and other chemical products, to strengthen its downstream chemical specialties business in Europe. Furthermore, in 2019, Matangi Industries announced its plan to expand the production capacity of fatty acid esters to 14,400 tons annually.

Apart from these two companies, Esterchem Ltd., Tokyo Chemical Industry Co. Ltd., American eChem Inc., Temix Oleo Srl, and Oleon NV are offering oleates, dimerates, laureates, pelargonates, stearates, palmitates, and tall oil fatty acid (TOFA)-based esters for the lubricants, food additives, personal care, and industrial solvents and additives industries. Nowadays, oleates are consumed in the largest volume due to their increasing application in personal care products, pharmaceutical solvents, and lubricants, owing to their exceptional lubrication, excellent cold flow, and low toxicity and volatility.

Therefore, the burgeoning demand for personal care products and biofuels will propel the consumption of fatty acid esters.

Soaring Demand for Lubricants Strengthening 300–450 TBN Calcium, Barium, and Magnesium Sulphonates Market Growth

The 300–450 TBN calcium, barium, and magnesium sulphonates market is expected to exhibit a CAGR of 10.9% during the forecast period (2020–2030), due to the increasing preference of lubricant producers for calcium sulphonate over lithium sulphonate. Additionally, the beneficial properties of calcium sulphonate greases will also help the market revenue to surge from $73.5 million in 2019 to $231.2 million in 2030. At present, the key players in the market are focusing on mergers and acquisitions and partnerships to expand their product portfolio and geographical reach.

The market is currently driven by the surging preference of lubricant manufacturers for calcium sulphonate over lithium sulphonate for grease production, owing to the implementation of numerous environmental protection legislations. The increasing use of calcium sulphonate as a thickener in grease-based products, such as automobile and industrial lubricants can be credited to its high mechanical and shear strength and dropping point. Moreover, the exceptional resistance of the salt to oxidation, temperature, wear, and water also makes it ideal for being used as a thickener in lubricants.

Globally, Asia-Pacific (APAC) is expected to hold the largest share in the 300–450 TBN calcium, barium, and magnesium sulphonates market throughout the forecast period. This will be due to the burgeoning demand for passenger cars and commercial vehicles in the region. The turbocharged direct-injection engines being deployed in passenger cars require greases and lubricants with strong additives, such as calcium sulphonate. Moreover, the rapid economic progress of India and China and the booming industrial sector will also augment the demand for calcium, magnesium, and barium sulphonates in the region in the coming years.

Thus, the increasing use of calcium sulphonate in grease production will augment the market growth in the foreseeable future.

Global Sales of Organic Fertilizers Predicted to Explode in Future

The proliferation of huge organic foods and beverages retail markets in Europe and North America is boosting the demand for organic fertilizers across the globe. As per the observations of the International Federation of Organic Agriculture Movement (IFOAM), in 2019, the sales of organic items were majorly concentrated in Europe and North America for a short period of time. The sales of these products were considerably in countries such as France, the U.S., and Germany. 

This was mainly due to the high per capita income of the inhabitants of these countries. Moreover, as per the IFOAM, the demand for these products would climb in the forthcoming years, which will, in turn, growth opportunities for the organizations operating in the global organic fertilizers market in the future. The surging acreage and the number of organic farmlands is also pushing up the demand for organic fertilizers all over the world. 

This is subsequently driving the expansion of the global organic fertilizers market. The market value is predicted to grow from $4,512.1 million in 2019 to $14,746.2 million in 2030. Industry experts predict that the market would exhibit a CAGR of 14.1% from 2020 to 2030. The major sources of these materials are animals and plants. Of these, the sales of animal-based fertilizers were found to be higher in the last few years.

Across the globe, the organic fertilizers market would demonstrate the fastest growth in the Rest of World (RoW) region in the upcoming years, as per the estimates of P&S Intelligence, a market research firm based in India. The biggest factor fueling the rapid advancement of the market in this region is the large-scale farming of quinoa, especially in the Latin American (LATAM) countries such as Uruguay, Argentina, and Mexico. This is because organic fertilizers are heavily used in quinoa farming.

Thus, it can be said with full confidence that the sales of organic fertilizers would shoot-up all over the globe in the years to come, primarily due to the rising demand for organic foods and beverages in various countries across the world.

Booming Packaging Industry Fueling Global Demand for Polypropylene

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

Besides, the booming nonwoven polypropylene fiber consumption is also driving the demand for polypropylene. According to an article published in the International Fiber Journal, 14.9 million tons of nonwoven roll goods were utilized globally in 2018. Staple fibers held a share of 59% in the global nonwoven industry. Furthermore, polypropylene staple fibers accounted for a 11% share in the industry, with polypropylene staple fibers accounting for around 1.0 million tons of the total nonwoven roll goods sold across the world. 

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

Across the globe, the Asia-Pacific (APAC) region will hold the largest share in the polypropylene market in the forthcoming years, as per the forecast of P&S Intelligence, a market research company based in India. This will be because of the surging investments being made in research and development (R&D) projects and the increasing implementation of policies by the governments of the regional countries for promoting the production of sustainable polypropylene packaging. 

Hence, it is safe to say that the demand for polypropylene will skyrocket in the upcoming years, mainly because of the rising usage of the material in packaging applications, expansion of the packaging industry, and the growing consumption of nonwoven polypropylene fiber around the world.

Why Does Automobile Industry Require Lubricants?

The International Organization of Motor Vehicle Manufacturers (OICA) stated that, in 2020, 53,598,846 passenger cars and 24,372,388 commercial vehicles were sold across the world. The soaring adoption of automobiles can be majorly ascribed to the mounting per capita income of people in countries such as Brazil, India, Mexico, and China. Lubricants are utilized in the crankcase of the automotive engine to ensure the efficient operation of automobiles. The usage of these crude oil by-products also helps in increasing the lifespan of vehicles, as these products reduce the vehicle’s wear and tear.

Thus, the increasing adoption of automobiles in developing nations and burgeoning consumer awareness about the benefits of these crude oil by-products will help the lubricants market advance at a CAGR of 2.3% during 2020–2030. According to P&S Intelligence, the market is expected to generate a revenue of $115,350.6 million by 2030. Lubricant producers across the world are adopting customer-oriented methods to generate brand awareness through visual and print media. Additionally, the provision of gifts and free samples by such production companies during promotional campaigns and trade shows also helps in imparting awareness regarding lubricants.

Geographically, Asia-Pacific (APAC) led the lubricants market in the recent past and it is expected to retain its dominance in the coming years as well. This is due to the rapid shift of manufacturing facilities to Asian nations from Western countries, owing to the availability of cost-effective labor and the existence of flexible environmental rules in the region. Moreover, the surging automobile production and sales will also augment the use of lubricants in the region. For instance, according to the Society of Indian Automobile Manufacturers (SIAM), India produced 22,652,108 vehicles and sold 18,615,588 automobiles during the financial year 2020–2021.

Whereas, the Middle East and African (MEA) region is expected to consume lubricants at the highest rate in the coming years, due to the existence of numerous oil wells in the region. Additionally, the flourishing manufacturing sector, owing to the mounting focus of MEA nations on diversifying their economies and reducing their economic reliance on oil, will also boost the adoption of lubricants in the region in the foreseeable future. Manufacturing facilities in MEA countries obtain lubricants at a low cost, due to the abundant availability of oil reserves in the region.

Thus, the burgeoning vehicle sales and growing consumer awareness about the benefits of lubricants will fuel the consumption of lubricants in the forthcoming years.

How Is Medical Sector Adding To Triazine Market Growth?

The rising application of triazine in the petrochemical, agrochemicals, and medical industries will accelerate the triazine market at a CAGR of 5.6% during the forecast period (2020–2030). According to P&S Intelligence, the market stood at $518.68 million in 2019 and it will reach $814.55 million in 2030. Currently, the market is witnessing a trend of mergers and acquisitions among the players. This market trend has supported the established and emerging players in increasing their profit share.

The increasing consumption of the compound in the petrochemical industry is a key growth driver for the triazine market. Triazine is used as a scavenger material to separate Hydrogen Sulfide (H2S) from crude oil, through the stripping process. The concentration of H2S is tracked in petroleum reservoirs as it is a flammable, corrosive, and life-threatening gas. As the exploration and operation of oilfields are done in adherence to the safety protocols, large quantities of triazine are used in these reservoirs.

The type segment of the triazine market is categorized into 1,2,3-triazine, 1,2,4-triazine, and 1,3,5-triazine. In 2019, the 1,3,5-triazine category held the largest market share, because this type is the most stable isomeric form of triazine and is consumed in high quantity in the chemical and oil and gas industries. This isomer is used in the production of triazine derivatives, such as melamine, monomethylamine (MMA), and monoethanolamine (MEA). In addition, 1,3,5-triazine is used in the production of pesticides and for scavenging operations in the oil and gas industry.

Geographically, North America dominated the triazine market in 2019, due to the booming production of shale gas and oil in the region. According to the Energy Information Administration (EIA), in the last decade, shale production in the U.S. has increased twelvefold. Shale gas is an economic substitute to crude oil and it serves as a feedstock for the production of various chemicals. Besides, the soaring investments in the oil and gas sector in the U.S. will also augment the demand for the compound in the foreseeable future.

Thus, the rising usage of triazine in the medical, petrochemical, and agrochemical industries will supplement market growth in the forecast years.

Surging Popularity of Traditional Recipes Driving Charcoal Demand in Philippines

With the growing popularity of barbecued and grilled foods, the demand for charcoal is surging in Philippines. Moreover, the traditional favorability of the material among the people, on account of its lower cost than traditionally used fuels, huge popularity of charcoal-based cooking recipes, easy availability of feedstock (coconut shells and wood), affordability of accessories and stoves, and large-scale preference of people for foods cooked with the help of charcoal over other methods, is also propelling its sales in the country.

Additionally, charcoal is widely used in both upper-income and low-income households in the country, owing to its ability to preserve the natural flavor of foods, which further boosts its sales. Besides these factors, the extensive usage of the material for producing energy in both commercial and residential sectors is also driving the expansion of the Philippines charcoal market. As a result, the revenue of the market is predicted to rise from $500.0 million in 2019 to $688.2 million by 2030. Furthermore, the market will demonstrate a CAGR of 2.9% from 2020 to 2030 (forecast period).

The Philippines charcoal market is highly disorganization with the presence of a small number of domestic organizations, as per the observations of P&S Intelligence, a market research company based in India. These players are either small or medium scale enterprises and they have started including green charcoal in their product portfolios in recent years for effectively navigating regulatory and environmental constraints. Premium A.C. Corporation, Celebes Agricultural Corporation, Cenapro Inc., BF Industries Inc., Jacobi Group, GCF Multi Products Development Corporation, and MacKay Green Energy Inc. are some of the major charcoal producing companies in Philippines. 

Hence, it can be said without any doubt that the demand for charcoal will soar in Philippines in the coming years, mainly because of the surging requirement for the material as a cooking fuel, on account of the huge popularity of traditional charcoal-based cooking recipes and barbecued foods in the country.

What are Factors Propelling Global Demand for Compressed Air Energy Storage (CAES) Systems?

Compressed air energy storage (CAES) is used for storing the generated energy so that it can be used later. The utility sector uses this method for releasing the energy produced during periods of low demand (off-peak) in the periods of higher demand or peak load periods. In the CAES facilities, ambient air or some other gas is compressed and then stored under high pressure in a container that is kept underground. When power is required, this air is heated and made to undergo expansion in a turbine, which in, turn, drives the generator for producing power.

Apart from the surging energy requirements in several countries, the increasing concerns being raised over the pollution caused due to the large-scale usage of fossil fuels for power generation is also fueling the rise in the adoption of compressed air energy storage systems across the world. For example, “the International Energy Association (IEA) estimated that, in order to keep global warming below 2 °C, the world is expected to require 266 GW of energy storage by 2030, up from 176.5 GW in 2017”. 

According to the findings of Bloomberg New Energy Finance, at the current rate of energy storage across the globe, the energy storage industry will reach its storage targets and expand rapidly to a cumulative capacity of 942 GW in 2040. Thus, with the rapid advancement of the energy storage industry and the increasing focus on energy storage, the global compressed air energy storage (CAES) market will exhibit substantial growth over the next few years.

Diabatic, isothermal, and adiabatic are the most commonly used types of compressed air energy storage systems throughout the world. Out of these variants, the usage of the diabatic compressed air energy storage system is currently being observed to be very high. This is because of its simple design and construction and lower operating price than the isothermal and adiabatic compressed air energy storage systems. Furthermore, the isothermal and adiabatic energy storage systems are still in the developing phase.

However, despite their many advantages, the diabatic energy storage systems are being gradually replaced by more energy-efficient storage systems in many countries. This is because of the lower efficiency of these systems than the other storage devices. The efficiency of the adiabatic energy storage systems is almost 20% greater than the diabatic systems. Furthermore, the diabatic storage plants need gas-firing for their operations which causes environmental pollution. As a result, these facilities are being rapidly closed down in several countries.

Thus, due to the growing demand for power in many developing and developed countries and the rising environmental concerns being raised over the usage of fossil fuels for power production, the demand for compressed air energy storage systems will increase rapidly throughout the world in the future years. 

Why is Demand for Facility Management Services Soaring in Kuwait?

With the increasing tourist footfall, the hospitality industry is booming in Kuwait. This is, in turn, augmenting the requirement for facility management services in the country. Additionally, the government is taking various initiatives for boosting the tourism industry such as encouraging huge investments from private companies, increasing the capacity of airports, developing new attractions, and launching international promotion campaigns, which are accelerating the expansion of the hospitality industry. As tourists need hotels, resorts, and guest houses and clean premises, their soaring population is driving the need for facility management services in the country. 

Furthermore, the government is making hefty investments in various projects, particularly those pertaining to oil and gas extraction activities and processing facilities, malls, and residential buildings, which are further pushing up the requirement for facility management services in Kuwait. For example, the burgeoning requirement for public housing is predicted to fuel large-scale residential construction in the country in the coming years. Moreover, many real estate developers in the country are launching several facility management affiliates, thereby propelling the demand for facility management services.

Owing to the aforementioned factors, the value of the Kuwait facility management market is expected to rise from $958.2 million in 2019 to $2,057.5 million by 2030, while the market is predicted to advance at a CAGR of 8.3% between 2020 and 2030 (forecast period). The industry is highly fragmented in nature and the major players are currently focusing on contract wins in order to augment their revenue and gain an edge over their rivals.

When the type of property services is taken into consideration, the Kuwait facility management market is divided into mechanical & electrical maintenance, heating, ventilation, and air conditioning (HVAC) maintenance, and others. Amongst these, the HVAC maintenance services category will register the fastest growth in the market in the forthcoming years, as per the estimates of the market research firm, P&S Intelligence. This will be because of the extreme weather conditions in the country that generate a huge requirement for the renovation and refurbishment of the existing systems in commercial and industrial buildings for enhancing their efficiency. 

Hence, the demand for facility management services will rise enormously in Kuwait in the coming years, mainly because of the expansion of the tourism sector and the rapid development of various commercial, residential, and industrial buildings in the country.

Growing Construction Sector Driving Facility Management Solutions Demand in GCC Nations

The construction industry in Gulf Cooperation Council (GCC) countries is observing significant growth due to the surging tourism activities and improving economic conditions. In recent years, GCC member nations have been allocating huge budgets to the construction sector, owing to which, the countries are adopting facility management solutions in abundance. The rising budgetary allocation to this sector can be attributed to the escalating focus of member nations on reducing their economic dependence on oil and gas revenue. 

Additionally, the flourishing travel and tourism industry is also expected to drive the GCC facility management market at a CAGR of 10.1% during the forecast period (2020–2030). The market was valued at $53,804.3 million in 2019 and it is projected to reach $137,297.8 million revenue by 2030. The growth of the travel and tourism sector is supported by the vision of the governments to divert their attention from the oil and gas industry to other industries. Moreover, the introduction of the new visa system of Saudi Arabia will attract over 100 million visitors to the country by 2030. 

According to P&S Intelligence, Saudi Arabia led the GCC facility management market in the recent past, owing to the flourishing tourism and infrastructure sectors in the country. Moreover, the surging investments being made by the government of Saudi Arabia in the construction and infrastructure sectors, primarily on account of their increasing focus on reducing the country’s economic reliance on the oil and gas industry, are fueling the installation of facility management systems in the nation. For instance, the launch of real estate initiatives such as the Red Sea Project by 2030 and Amaala by 2028 will fuel the installation of such systems in the country in the forthcoming years.

Therefore, the growing construction sector and expanding travel and tourism industry will augment the demand for  facility management services in the GCC in the coming years.