Global Industry Trends

The Government of France has set up a target of increasing plug-in electric vehicle (PHEV) (passenger vehicles) and battery electric vehicle (BEV) (passenger vehicles) stock to 1.8 million and 3 million, respectively, by 2028. Likewise, Indonesia aims to expand the electric vehicle (EV) stock (passenger vehicles) to 2 million units by 2030. Similarly, the New Zealand government aspires to introduce 64,000 EVs (passenger cars) by 2025. The increasing number of EVs, on account of the growing need to reduce vehicular emissions, will, therefore, augment the need for oxygen-free copper products worldwide. Moreover, the expanding electrical and electronics industry will also steer the oxygen-free copper market growth during the forecast period (2021–2030). According to P&S Intelligence, the market generated nearly ~$20.0 billion revenue in 2020. The growth of the electrical and electronics industry can be ascribed to the rising demand for consumer electronics, especially in developing c

From $457.734 in 1960, the global per capita income has risen to $10,910.084 in 2020. This means that on average, people have more to spend than 60 years ago. As a result, the sale of several products and services that were earlier only purchased via the wealthy, such as electrical appliances, consumer electronics, and automobiles, are being widely bought by the middle and even lower classes. Another kind of products that are now gaining a widening customer base are cosmetics. Thus, P&S Intelligence expects the cosmetic chemicals market size , which was already $20.0 billion in 2020, to grow significantly in the years to come. Cosmetic is anything with or without actual health benefits that is used to enhance the appearance. Apart from the rising disposable income, the increasing appearance consciousness is propelling the usage of such products. The surge in the appearance consciousness is attributed to the growth in the influence of the Western culture via TV shows, magazines, and

Perovskites are basically a class of materials that have a similar structure and possess various characteristics such as magnetoresistance and superconductivity, owing to which, they are being increasingly used in solar cells for generating solar power. Furthermore, the perovskites-based solar cells offer greater convenience, in fabrication, and are available at much lower costs than the traditionally used solar cells. In addition to this, these solar cells provide excellent power conversion rates, which in turn, leads to higher efficiency in power generation.  Besides the above-mentioned factors, the other reasons behind the soaring sales of perovskite solar cells (PSCs) are the surging awareness amongst the people about the various advantages offered by these cells over the conventionally used silicon photovoltaic (PV) systems and the rising number of research and development (R&D) activities being performed on PSCs. Moreover, the increasing popularity of solar energy is boostin

The adoption of internet of things, along with its emphasis on data collection from distributed nodes, is increasing in almost all industries, including the agriculture industry. In the agriculture industry, smart farm relies heavily on several nodes that are spread across hundreds of acres for collecting data on soil moisture level, weather, evaporation, and other things. These nodes are usually are battery-powered and rely on techniques of energy harvesting, including solar power for supplementing existing battery capacity. Attributed to this, the demand for smart battery chargers is growing rapidly. Smart battery chargers are much more sophisticated, since along with offering various switchable charging modes, they are further programmed to offer a varied and planned output to maintain and charge the battery in the best condition. Several smart chargers have numerous charging modes, tailored for different charging requirements and battery types. In addition smart chargers are progr

The reducing costs of renewable energy sources is one of the biggest factors responsible for their soaring utilization across the globe. In addition to this, the increasing number of investments being made for the development of clean energy is another important factor contributing toward the surge of the renewable energy market throughout the globe. For example, according to the Statista report of 2004, the investments on clean energy was found to be more than $45 billion during the same year. Moreover, in 2017, the clean energy investments all around the world were recorded to be $279.8 billion. The increasing capacity of various renewable energy sources and the surging popularity of battery storage devices are the other major factors fuelling the rising demand for renewable energy sources across the world. Additionally, the increasing pollution levels and global warming caused due to the large-scale utilization of fossil fuels for power generation are expected to significantly boos

The burgeoning demand for personal care products, such as laundry detergents, soap bars, and shampoos, on account of the mounting disposable income of people and increasing availability of such products, will create a huge requirement for ethanolamines in the foreseeable future. Personal care product companies use this chemical as an emulsifying ingredient and surfactant. The Organisation for Economic Co-operation and Development (OECD) states that the per capita gross adjusted disposable income of Australia and the European Union (EU) stood at $42,700 and $33,445, respectively, in 2020. Thus, the rising need for personal care products, on account of the escalating awareness consciousness and disposable income, will help the ethanolamines market progress at a CAGR of 5% during 2020–2030. According to P&S Intelligence, the market revenue will grow from $2,933.5 million in 2019 to $5,079.0 million by 2030. In contemporary times, diethanolamine (DEA) is preferred over monoethanolamin

The U.S. Energy Information Administration (EIA) states that around 535 million short tons of coal were produced in 22 states of the country. Further, the U.S. Geological Survey reveals that 190 tons of gold were mined in the country in 2020. The organization also states that 150 tons of beryllium were produced in the country in 2020. The surging mining activities in the U.S. will create an enormous requirement for engine-driven welders, as they are required to repair mining machinery, remove damaged parts or cracks, and generate electricity for power auxiliary operations in the absence of base electricity. Additionally, the rising construction activities, primarily on account of the increasing number of housing projects, will help the U.S. engine-driven welder market grow at a CAGR of 6% during the forecast period (2019–2024). According to P&S Intelligence, the market was valued at $133.1 million in 2018, and it will generate more than $188.9 million revenue by 2024. The U.S. Dep

According to the European Centre for Disease Prevention and Control (ECDC), 8.3% of patients admitted to intensive-care units (ICUs) for more than two days were affected by at least one ICU-acquired healthcare-associated infection (HAI) in European countries in 2017. These patients were affected by HAIs such as urinary tract infection (UTI), pneumonia, and bloodstream infection. Similarly, the Centers for Disease Control and Prevention (CDC) estimates that on any given day, around 1 in 31 patients in hospitals of the U.S. have at least one HAI.  To reduce the cases of HAIs, doctors around the world are using antimicrobial coatings, as they help in preventing the spread of viral, bacterial, and fungal particles on a surface. Thus, the surging concerns among healthcare professionals regarding HAIs are expected to drive the antimicrobial coatings market growth during the forecast period (2021–2030). According to P&S Intelligence, the market generated around $3.6 billion revenue in 20

The pharmaceutical industry is witnessing a monumental growth in emerging economies, such as India, Brazil, and China, owing to which the consumption of polyethylene glycol (PEG) is increasing exponentially, as it is used as an inactive ingredient in the pharmaceutical sector. PEG is used as a surfactant, solvent, and suppository base for capsules and tablets. Additionally, the rapid technological advancements in the pharmaceutical sector will also facilitate the consumption of PEG in the forthcoming years. Moreover, the escalating healthcare expenditure, on account of the surging cases of skeletal problems, obesity, hypertension, and cardiovascular diseases (CVDs), will also catalyze the polyethylene glycol market growth during the forecast period (2021–2030). According to P&S Intelligence, the market generated ~$4.5 billion revenue in 2020. The market growth can also be owed to the burgeoning demand for personal care products, as PEG is used as a specialty solvent and surface-ac

The soaring demand for food products, on account of the mushrooming population across the globe, is fueling the requirement for seed treatment products, as they assist in improving the productivity of crops. As per the United Nations (UN), the global population will surge from 7.7 billion in 2020 to around 8.9 billion by 2030. Seed treatment products are also used for protecting young plants and seedlings from various diseases and ensuring high crop yield. Besides the aforementioned factor, the burgeoning requirement for biofuels, owing to the increasing environmental concerns over the deteriorating air quality level and escalating pollution levels, is also fueling the expansion of the seed treatment market . Different types of plants are used for producing biofuels. For example, bioethanol is made from the fermentation of the sugar produced from starchy crops, such as sugarcane. Thus, in order to make high quality biofuels, the seeds of the plants from which the sugar or oil is to be

Physical vapor deposition (PVD) refers to a vacuum deposition process that can be used to fabricate thin films and surface coatings. In this process, the material changes from a condensed phase to a vapor phase and then again to a thin film condensed phase. Conventionally, PVD has been utilized at the industrial scale and combined with multiple methods to produce coatings with superior characteristics. In recent years, advancements in nanoscience have made the PVD technique more useful for the fabrication of micro-structure and nanostructured coatings. Currently, solar selective coatings produced by using the PVD technique are being consumed in large quantities, due to the rising focus of governments and individuals on generating electricity through solar energy. Coatings with high absorptance and low thermal emittance are being applied on solar panels to harness solar energy. Thus, the increasing deployment of solar cells and panels will catalyze the physical vapor deposition market g

The U.S. Energy Information Administration (EIA) estimates that the production of crude oil in the U.S. increased by 12.7% from 2018 to 2019. As per the EIA, onshore production in the Lower 48 states increased from 3,141 million barrels (MMBbl) in 2018 to 3,591 MMBbl in 2019. The surge in onshore oil drilling activities can be ascribed to the low cost associated with the extraction process and the presence of a majority of the aging wells in onshore fields. Thus, the rising onshore oil drilling activities will facilitate the deployment of pump jacks in the forthcoming years. Additionally, the increasing number of mature oil reserves, which cannot be economically restarted once they are shut down, will also help the pump jack market grow at a CAGR of 5.0% during the forecast period (2017–2023). According to P&S Intelligence, the market was valued at $2,712.8 million in 2016, and it will generate $3,800.0 million revenue by 2023. Deployment of pump jacks in oilfields allows the extr

The World Steel Association estimates that 563.3 million tons (Mt), 57.9 Mt, 35.2 Mt, and 15.0 Mt of steel was manufactured in China, India, South Korea, and Iran, respectively, during January 2021–June 2021. The high-volume steel production in these Asian countries creates a huge requirement for charcoal briquettes, as they can provide a high amount of heat during the manufacturing process. In recent years, charcoal briquettes have become an ideal substitute for conventional fuels due to their low production cost and environment-friendly property. Moreover, the soaring popularity of barbecued food in Asian countries will drive the Asian charcoal briquettes market at a CAGR of 6.2% during the forecast period (2020–2024). The market revenue stood at $952.5 million in 2019, and it is projected to reach $1,158.4 million by 2024. Globalization has increased the popularity of the barbecue culture in Asian countries, owing to which restaurants, hotels, and households are preparing it in abu

The United States Environmental Protection Agency (EPA) mandates the registration of all diesel and gasoline motor vehicle fuel additives in accordance with the regulations under 40CFR 79. As per the EPA, gasoline used in the U.S. must contain detergent additives that are certified as per the norms of Subpart G of 40 CFR 80. This agency has listed the registered diesel and gasoline additives at Registered Fuels & Fuel Additives Under 40 CFR Part 79. Similarly, the Canadian Environmental Protection Act (CEPA) Environmental Registry mandates the usage of non-lead fuel additive content in Canada. Enforcement of such stringent government regulations regarding the usage of fuel additives in several countries to reduce emissions is expected to drive the fuel additives market at a CAGR of 4.9% during the forecast period (2021–2030). The market was valued at $5,032.7 million in 2020, and it is projected to generate $7,990.6 million revenue by 2030 . Additionally, the burgeoning demand for