Global Industry Trends

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 envi

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

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

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

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 fo

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 wi

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 w

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 requiremen

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 becaus

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 ca

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

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 te

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

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 impl

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 p

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

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 obs

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,

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

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, th

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 bondin

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 pr

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 dro

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 m

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

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-o

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

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 milli

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 r

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

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