Global Industry Trends

The expansion of the automotive industry is driving the demand for adhesive tapes across the world. This is because tapes having adhesive characteristics are extensively used in the automotive industry, primarily in the form of protection tapes and double-sided tapes. Moreover, automobile manufacturers are increasingly preferring to use automotive tapes having adhesive properties over the conventionally used mechanical fasteners in order to reduce the weight of the automobiles. As mechanical fasteners such as screws and bolts increase the automobile’s weight, they are being rapidly replaced by lightweight adhesive tapes. Besides the aforementioned factor, the development of recyclable adhesive tapes is also creating lucrative growth opportunities for the players operating in the adhesive tapes market. Many countries are restricting or banning the use of hazardous chemicals, which are generally needed for producing adhesive solutions. Additionally, various end users are preferring eco-f...

From $1,891.3 million in 2015, the ceramic matrix composites market size is projected to witness a 13.7% CAGR during 2016–2024 (forecast period), to reach $6,006.1 million by 2024. The key factors driving product sales include the rising usage of lightweight composites in aircraft manufacturing and surging demand for CMCs in the defense sector. These materials consist of a ceramic matrix with ceramic fibers embedded in it. Their biggest advantages are high-temperature functionality, resistance to wear and tear, high stiffness, and corrosion resistance. Silicon carbide (SiC), oxide, carbon, and others are the categories when the market is segmented on the basis of product. Among these, during the historical period (2014–2015), the SiC category dominated the ceramic matrix composites market on account of the rising demand for SiC-based CMCs in the defense, aerospace, and electronics industries. The hardness, high strength, corrosion resistance, high thermal stability, and low mass densi...

The mushrooming popularity of the aerial mode of transportation is fueling the expansion of the aerospace industry, which is, in turn, driving the worldwide sales of thermal spray materials. Moreover, the increasing defense expenditure of several countries, such as India, the U.S., Japan, and China is also propelling the growth of the aerospace industry. For example, as per various estimates, China will spend more than $1.1 trillion in aircrafts over the next 20 years.  As thermal sprays are extensively used in coatings, which are applied on turbo-machinery, such as high-pressure turbine seals, rotor-path linings, bearings, compressor seals, airframe, engine components, and oil seals, in order to improve fuel efficiency and fluid dynamics, reduce maintenance expenses, and prevent wear and tear, the soaring sales of both defense and commercial aircrafts are driving their demand across the world. Apart from the booming aerospace industry, the rising urbanization rate, especially in t...

A lot of diseases spread via bodily fluids and excretions, including some really nasty ones, such as cholera, bacillary dysentery, typhoid, hepatitis A and E, E. coli, amoebiasis, toxoplasmosis, and tapeworms. This is why the focus on personal hygiene is rising around the world, which is driving the sale of diapers, feminine hygiene pads, and toddler training pants. Moreover, the awareness campaigns being run by international agencies, such as the World Health Organization (WHO), and national governments are propelling the sale of such products. As a result, according to P&S Intelligence, the spunbond nonwovens market value , which was $11,040.1 million in 2017, is set to witness an 8.1% CAGR between 2018 and 2023, to reach $17,651.9 million by 2023. This is because such materials are widely used in the production of hygiene pads, diapers, and wipes. Therefore, with the focus on hygiene and general cleanliness having grown manifold during the ongoing pandemic, spunbond nonwoven sal...

With the expansion of the manufacturing and construction industries, on account of the implementation of various government initiatives such as Make in India and the launch of outreach programs for micro, small, and medium enterprises (MSMEs), the demand for gensets is surging sharply in India. Moreover, the government is making huge investments in the development of industrial corridors and providing financial incentives, which are also contributing heavily toward the surge in the manufacturing industry. This is, in turn, pushing up the requirement for gensets, owing to their ability to meet the captive, uninterrupted, and centralized power supply needs of the industry. Additionally, with the establishment of new facilities, the demand for gensets is predicted to rise even more, as they will be required for supply continuous power in these facilities. Just like the manufacturing industry, the construction industry in the country is also booming, owing to the soaring investments being ...

Factors such as the flourishing manufacturing sector in India and burgeoning demand for power for commercial applications will help the Indian diesel genset market to advance at 12.5% CAGR during the forecast period (2020–2030). The market was valued at $1,105.7 million in 2019 and it is expected to generate $2,365.2 million revenue by 2030. Diesel gensets are required in almost every manufacturing and commercial facility to maintain continuous power supply, on account of the frequent power cuts in the country. In recent years, the booming manufacturing sector in India has become a primary catalyst for the market growth. The boom in the manufacturing sector can be credited to the launch of government initiatives such a Make in India and the introduction of numerous outreach programs for micro, small, and medium enterprises (MSMEs). Additionally, the hefty investments being made by the government in industrial corridors are also facilitating the growth of the manufacturing sector in th...

The International Organization of Motor Vehicle Manufacturers (OICA) estimated that a total of 3,742,454 vehicles were manufactured in Germany in 2020. Further, the German Association of the Automotive Industry stated that the production volume of passenger cars in Germany increased from 123,504 units in August 2021 to 208,700 units in September 2021. Thus, the increasing vehicle production in the country, owing to the presence of automobile giants, will propel the adoption of automotive adhesives and sealants in the country, as they help in improving reliability, performance, driving comfort, and safety of vehicles.  Moreover, the increasing adoption of electric vehicles (EVs), owing to the mounting government support toward environment-friendly mobility solutions to mitigate air pollution, is also expected to fuel the German automotive adhesives and sealants market at a CAGR of 4.5% during 2018–2023. According to P&S Intelligence, the market revenue will rise from $891.8 mil...

The global plasticizers market reached a value of $13,967.9 million in 2018 and it is expected to generate $16,700.6 million revenue by 2024. According to the estimates of P&S Intelligence, a market research company based in India, the market will demonstrate a CAGR of 3.5% from 2019 to 2024 (forecast period). The market is being driven by the booming construction industry and the soaring requirement for polyvinyl chloride (PVC) in the electronics and electrical industry.  Plasticizers are required for building various tools and materials, such as roof and wall insulation, building interiors, and pipes and tubes, which are needed in large quantities in the construction industry. As most of these tools are produced from PVC, the increasing construction activities in several countries are propelling its demand. Furthermore, the construction industry has exhibited huge expansion during the last few years, primarily because of the increasing urbanization rate and mushrooming popul...

The Indian industrial aerosol market value stood at $70.95 million in 2019, and it is expected to surge to $115.85 million by 2030. Furthermore, the market will advance at a CAGR of 5.6% from 2020 to 2030 (forecast period), as per the market research firm, P&S Intelligence. The major factors propelling the market are the surging requirement for aerosols in automobile manufacturing plants and the automobile aftermarket, booming manufacturing industry, and increasing implementation of government initiatives for augmenting research and development (R&D) activities in the country’s manufacturing industry. With the surging manufacturing and sales of commercial vehicles, passenger cars, two-wheelers, quadracycles, and three-wheelers, the requirement for industrial aerosols is rising sharply. As per the Society of Indian Automobile Manufacturers (SIAM), 30,915,420 vehicles were manufactured in India in 2018–19, which registered an increment of 6.3% from the number of vehicles manufac...

Pharmaceutical companies around the world are increasingly using chlorobenzene, especially trichlorobenzene, to synthesize intermediates of a wide range of medicines, such as antibiotics and vitamin supplements. In recent years, these companies in developing countries have focused on the local production of essential generic drugs to reduce cost burden on customers. Since 2006, the United Nations Industrial Development Organization (UNIDO) has offered advisory services and technical cooperation to facilitate local pharmaceutical production (LPP) in developing countries with a large number of private- and public-sector partners. Thus, the rising production of generic drugs will create a huge requirement for chlorobenzene worldwide.  Moreover, the expanding chemical industry will also contribute to the chlorobenzene market growth during the forecast period (2021–2030). According to P&S Intelligence, the market generated $2.3 billion revenue in 2020. Chemical companies are using ...

Artificial lifts are deployed in oil wells to enhance the pressure within the reservoirs, to bring the oil to the surface. These machines are used to recover oil from reservoirs that are witnessing a reduced pressure due to the constant extraction. Artificial lifts can be used in offshore as well as onshore mature oil fields to increase the bottom-hole pressure of the reservoirs. These lifts can be gas-assisted or pump-assisted. Currently, oil companies are preferring pump-assisted artificial lifts over gas-assisted variants as the former can increase the bottom-hole pressure of the tube string. Thus, the rising number of mature oil fields is expected to drive the artificial lift market at a CAGR of 5.3% during the forecast period. Additionally, the surging availability of recoverable shale gas reserves in different parts of the world will help the market revenue grow from $8,010.8 million in 2017 to $10,883.1 million by 2023. For instance, the U.S. Energy Information Administration (...

The microfiltration membrane market is expected to exhibit a CAGR of 9.0% during the forecast period (2020–2030), owing to the surging usage of filtration technology in the food and beverage industry, flourishing pharmaceutical industry, and burgeoning demand for microfiltration technology for the treatment of industrial wastewater. According to P&S Intelligence, the market was valued at $2,885.57 million in 2019 and it will generate $7,517.38 million revenue by 2030 . Unlike conventional separation technologies, microfiltration technologies can efficiently treat solutions containing excessive dissolved organic compounds.  One of the primary growth drivers of the market is the flourishing pharmaceutical industry. Pharmaceutical companies use an extensive volume of microfiltration membranes, such as polyethersulfone (PES), polypropylene (PP), and polyvinylidene fluoride (PVDF), for the filtration of proteins and preservatives, due to their high-flow rate, low-protein binding abi...