Global Industry Trends

Factors such as the surging consumer expenditure and the expanding packaging industry will help the hot melt adhesives market to display a CAGR of 6.1% during the forecast period (2020–2030). According to P&S Intelligence, the market generated a revenue of $7,717.0 million in 2019, and it is expected to reach $12,761.3 million by 2030 . Hot melt adhesives are widely used in the electronics, construction, packaging, and automotive industries, due to their ease of application, non-volatile organic compound (VOC) emitting, and fast setting time properties. The flourishing packaging industry, primarily on account of the burgeoning demand for packaged food and drinks and the growing e-commerce sector, is one of the key contributors to the market growth, worldwide. Since packaged products require both rigid and flexible packaging, this industry uses hot melt adhesives in abundance because of their easy application and fast setting time features. With the increasing penetration of e-comme

The United States Environmental Protection Agency (EPA) recently implemented the Pollution Prevention Act under the National Pollution Prevention Policy. The policy aims at preventing or reducing pollution at the source whenever feasible and recycling pollution that cannot be prevented in an environment-friendly manner whenever feasible. Similarly, the Air (Prevention and Control of Pollution) Act, 1981 was enacted by the Government of India to prevent, control, and abate air pollution. Likewise, the European Union (EU), has drafted the Ambient Air Quality Directive to control ambient concentrations of air in the EU. Thus, the increasing implementation of air pollution control laws is expected to drive the liquid and air filter bags market at a CAGR of 6.5% during the forecast period (2018–2023). Additionally, the soaring number of water pollution prevention laws and wastewater treatment legislations will also fuel growth in the market revenue from $4,220.2 million in 2017 to $6,144.9

With the surging disposable income of people and the rising health concerns, people from both developed and developing economies are spending heavily on healthcare services. As per the Centers for Disease Control and Prevention (CDC), in the U.S., the total national healthcare expenditure was $3.2 trillion in 2015 and the per capita national healthcare expenditure stood at $9,990. Furthermore, according to the reports published by the U.K. Office for National Statistics (ONS), the total healthcare expenditure in the U.K. was $282.8 billion in 2015. From the above-mentioned data, it is clear that the healthcare expenditure of many countries is surging sharply, primarily because of the growing disposable income of people, soaring medical awareness among people, and rapid advancements in surgical facilities. Owing to this reason, patients diagnosed with different chronic ailments are opting for surgeries, which is, in turn, fueling the expansion of the surgical glue market. Besides this f

Governments across the world and international regulatory bodies are drafting stringent fire safety norms for residential, commercial, and manufacturing units to ensure the safety of people and avoid asset loss. For instance, the National Fire Protection Association (NFPA) publishes over 300 consensus codes and standards, such as standards for portable fire extinguishers and standards on hybrid (water and inert gas) fire extinguishing systems, to minimize the possibility and effects of fire and other risks. To comply with such regulations, fire extinguishers are being deployed in large numbers. Moreover, the increasing construction activities in developing countries will help the fire extinguishers market advance at a CAGR of 6.2% during 2018–2023. According to P&S Intelligence, the market was valued at $4,487.0 million in 2017, and it is projected to generate $6,452.3 million revenue by 2023. The construction industry in India, Saudi Arabia, Indonesia, and China and developed cou

Under the National Infrastructure Pipeline launched in 2019, India has earmarked a total investment of $1.4 trillion (INR 102 lakh crore) on infrastructure development. Moreover, by 2025, the construction sector of India will be the third-largest in the world, behind that of the U.S. and China. Naturally, the two most-populated countries in the world account for the largest construction sectors in the world. Moreover, the government of these nations is extending its support for the real estate and infra sector. Due to the rampant growth of this industry, P&S Intelligence predicts the Asia-Pacific (APAC) construction chemicals market revenue to rise from $19,754.8 million in 2017 to $29,686.2 million by 2023, at a 7.1% CAGR between 2018 and 2023. This will essentially be due to the burgeoning population of the region, which is already the highest on earth. More people means a requirement for more houses, roads & highways, transportation facilities, schools, office complexes, ho

The International Organization of Motor Vehicle Manufacturers (OICA) states that 139,886 commercial vehicles and 551,400 cars were manufactured in Indonesia in 2020. The automobile industry uses coding and marking systems for labeling metal, plastic, rubber, and other vehicle parts to provide quality assurance to customers. Additionally, effective labeling helps automakers track the components throughout the supply chain and keep a tab on counterfeiting. Thus, the surging automobile production, owing to the growing disposable income of people, will boost the adoption of such systems in the country. Moreover, the increasing tobacco consumption will help the Indonesian coding and marking systems market grow at a healthy CAGR of 10.1% during 2018–2023. The market valued $27.4 million in 2017, from where it is expected to reach $48.7 million revenue by 2023. Tobacco companies use modernized and sophisticated coding solutions owing to their increasing focus on cleanliness. The adoption of

Due to the surging construction activities and the increasing requirement for die casting for manufacturing automotive components, the Indian mold release agents market is exhibiting huge expansion. According to the forecast of the market research company, P&S Intelligence, the market revenue will rise from $114.6 million in 2018 to more than $153.9 million by 2024. Furthermore, the market is expected to progress at a CAGR of 5.2% from 2019 to 2024. Due to the increasing urbanization rate and booming population, the Indian government is making huge investments in infrastructural development and construction projects. For example, the government is launching initiatives such as Housing for All and Smart City Mission. Additionally, as per the Union Budget 2019–2020, the Ministry of Road Transport and Highways received investments worth $15.48 billion (INR 1.12 trillion) from the government. These funds will be used for constructing highways and roads in the country. The launch of su

The U.S. Energy Information Administration (EIA) estimated that the proven reserves of crude oil in the U.S. increased to 367 million barrels and the natural gas reserves in the country stood at 494.9 trillion cubic feet, in 2019. Furthermore, the proven reserves of natural gas from shale in the country surged from around 68% of the total reserves in 2018 to about 71% in 2019. Whereas, the proven crude oil reserves in Canada stands at 171.0 billion barrels.  The presence of extensive reserves of oil and gas in North America is resulting in increased exploration and production (E&P) activities in the region. As a result of the surging E&P activities, the low strength proppants market will advance at a CAGR of 9.8% during 2020–2030. According to P&S Intelligence, the market revenue will grow from $3,713.3 million in 2019 to $5,294.8 million by 2030. Both the U.S. and Canada have been using low strength proppants in conventional and non-conventional oil and gas wells to incre

The expansion of the pharmaceutical industry, especially in the developing nations of Asia-Pacific (APAC) such as India, Indonesia, Thailand, and China, owing to the surging investments being made in research and development (R&D) activities and the expansion of several large drug producing companies in the regional countries, is propelling the demand for acetic anhydride . Moreover, the healthcare sector is booming in this region, on account of the availability of affordable raw materials and labor and high government expenditure, which is also fueling the demand for acetic anhydride. This is credited to the fact that the compound is extensively used as a synthesizer in acetaminophen, aspirin, and various other medicated drugs. Besides these factors, the mushrooming population of geriatric people is also positively impacting the worldwide sales of acetic anhydride. As per the World Population Ageing 2020 report published by the United Nations Department of Economic and Social Affa

The mushrooming manufacturing and sales of commercial vehicles, passenger cars, two-wheelers, quadracycles, and three-wheelers are fueling the demand for aerosols in India . As per the Society of Indian Automobile Manufacturers (SIAM), the automotive industry in India manufactured 30,915,420 vehicles in 2018–10, which was 6.3% higher than the number of vehicles that were manufactured in the previous year (29,094,447). Similarly, as per the India Brand Equity Foundation (IBEF), the demand for automobiles will soar in the country in the coming years, owing to the increasing income of middle-class people and surging population of young individuals. This will, in turn, propel the requirement for aerosols in the country. Apart from this factor, the expansion of the manufacturing sector, on account of the burgeoning requirement for electrical equipment, machinery, and consumer electronic devices, is also driving the expansion of the Indian aerosol market. Moreover, as per the Ministry of Com