Asia-Pacific Benzalkonium Chloride Market To Exhibit Highest CAGR During 2020–2030

The global benzalkonium chloride market generated a revenue of $525.0 million in 2019, and it is predicted to progress at a CAGR of 9.6% between 2020 and 2030. Furthermore, the market will reach a value of $1,301.1 million by 2030, as per the estimates of P&S Intelligence, a market research company based in India. The market is being driven by the booming oil & gas and pharmaceutical sectors across the world. 

The compound is heavily used in the pharmaceutical sector, due to its ability to serve as a disinfectant, antiseptic, antimicrobial preservative, wetting agent, and solubilizing agent. As a result, the surge in the pharmaceutical sector, because of the soaring disposable income of people, huge investments being made by the governments of several countries, and the increasing affordability of healthcare services, is boosting the demand for benzalkonium chloride across the world.

When type is taken into consideration, the market is also classified into benzalkonium chloride 80% and benzalkonium chloride 50% categories. Between these, the benzalkonium chloride 50% category is predicted to hold the larger share in the market in the upcoming years. This is ascribed to the fact that the compound is extensively used in numerous personal care and pharmaceutical applications, owing to its less toxic nature than benzalkonium chloride 80%.

Globally, the benzalkonium chloride market is predicted to exhibit the highest growth rate in Asia-Pacific (APAC) in the forthcoming years. This will be because of the rapid expansion of the chemical industry in India and China. In addition to this, the soaring requirement for disinfectant products, because of the COVID-19 pandemic, and the increasing implementation of various strategic initiatives by several companies operating in the specialty chemicals industry are also driving the expansion of the market in this region.

Hence, it is safe to say that the market will grow substantially in the coming years, primarily due to the surging usage of benzalkonium chloride in water treatment facilities, disinfectants, and personal care products and also in the pharmaceutical and oil & gas sectors across the world.

Source: www.psmarketresearch.com

India Metal Polish Market To Generate $37.10 Million Revenue by 2030

Factors such as the rising consumption of metal polish in the marine sector of India, on account of the surging maritime trade; and increasing realization about enhancing the aesthetic appearance of metallic surfaces, due to the mounting disposable income, will drive the Indian metal polish market at a CAGR of 4.6% during the forecast period (2020–2030). Owing to these factors, the market is expected to grow from $26.51 million in 2019 to $37.10 million by 2030.

The surging use of such polishes in the marine sector will also facilitate the market growth in the future. The Indian marine industry uses a large volume of metal polishes to remove corrosion, tarnish, and surface rust, caused by prolonged exposure to air, saltwater, and ultraviolet (UV) rays, on metal fittings and boats and cargo ship railings. Moreover, the polish offers a shine to the deck of marine vehicles. In recent years, traders and ship owners have been increasingly focusing on the maintenance of marine vessels, due to the rising maritime trade.

According to P&S Intelligence, 3M Company dominated the Indian metal polish market in 2019, due to the extensive distribution network and supply chain of the manufacturer. The metal polishing products manufactured by 3M Company are used by the automotive, automotive refinish, defense, marine, and residential industries. The polishes provided by this firm help in restoring the aesthetic beauty of products, such as cars. The company also offers aluminum, nickel, and cobalt (ALINCO) metal alloys for furniture polishing. 

Thus, the rising demand for aesthetic and durable products in India and the increasing advancements in polishing methods will augment the consumption of metal polishes in the country, in the foreseeable future.

Source: www.psmarketresearch.com

Why will Sales of Aerosol Products Shoot Up in Asia-Pacific in Coming Years?

The expansion of the personal care sector, on account of the increasing per capita income and the surging disposable income of people in several countries, is pushing up the demand for aerosol products across the world. Many personal care product manufacturers are focusing on expanding and diversifying their range of offerings. For example, Nivea India Private Limited launched NIVEA DEO MILK deodorant in August 2020, with milk as one of the key ingredients. 

These innovations in personal care products are further boosting the worldwide demand for aerosol products. Another major factor driving the sales of aerosol products is the increasing industrialization rate in the developing countries such as India, Brazil, China, Indonesia, and Thailand, due to the huge investments being made by many multinational companies for building their manufacturing units. As aerosols are extensively required for greasing and lubrication applications, their sales are surging sharply due to the increasing construction activities. 

Due to the above-mentioned factors, the demand for aerosol products is rising sharply. This is subsequently fueling the growth of the global aerosol market. According to the estimates of P&S Intelligence, a market research company based in India, the market value will grow from $81.1 billion in 2019 to $149.7 billion by 2030. Furthermore, the market is expected to exhibit a CAGR of 6.4% between 2020 and 2030.

This will be a result of the implementation of lenient regulations regarding the usage of these products by the governments of regional countries and the soaring requirement for aerosol paints and personal care products in the region. Apart from these, the growing public awareness about cosmetic products such as shampoos and conditioners and the uniform propulsion, aesthetic appeal, and ease of application of aerosols are also propelling their popularity in the region.

Hence, it is safe to say that the demand for aerosol will skyrocket all over the world in the upcoming years, mainly because of the growing sales of personal care products and the increasing industrialization rate in several developing countries.

Source: www.psmarketresearch.com

Ballooning Popularity of Wind Energy Fueling Demand for Wind Towers

Due to the increasing concerns being raised in several countries over the escalating pollution levels caused due to the large-scale usage of fossil fuels for power generation, the surging number of wind power capacity installations, and the increasing implementation of favorable government regulations regarding wind projects, the demand for wind towers is growing rapidly across the world. Wind towers are basically tall structures that support wind turbines and their various components. 

Basically, the wind tower holds the nacelle and rotor of the turbine and supports the turbine blades and ensures that the blades safely clear the ground. The turbine is built at an optimum height for producing electric power from wind. Turbines having higher capacities require high wind speeds. As the speed of wind increases with the increasing height of the turbine, the height of a wind tower is an important factor for attaining efficient power production. 

Moreover, as tall wind towers have lesser turbulence, the performance of tall wind towers and power plants is much better than the smaller ones. The growing deployment of wind towers for optimum wind power generation is fueling the expansion of the global wind tower market. The growth of the market is creating numerous job opportunities for skilled labor across the globe, as workers specialized in mechanical engineering, electrical engineering, and civil engineering are required for constructing wind towers.

Whereas, the Middle East and Africa (MEA) region is still in its early phase of adoption of wind energy. Currently, the region has a few large-scale wind farms that have installed some wind towers. Additionally, emerging economies of Latin America and Africa are still in the process of drafting policies to increase reliance on renewable energy by reducing the dependency on conventional fuels like petroleum. The regulation and implementation of these policies will increase the installation of wind farms that will generate huge demand for wind towers in coming years.

Thus, the increasing need for green and clean energy is driving the demand for wind towers, due to the expansion of the wind energy sector.

Source: www.psmarketresearch.com

Installation of Air Conditioning Systems Augmenting Critical Power and Cooling Solutions Adoption

Critical power and cooling solutions include generators, inverters, converters, humidifiers, uninterrupted power supply (UPS), power transfer switching, generator paralleling breakers, liquid cooling solutions, breaker transfer pairs, switch transfer pairs, transfer switches, chilling units, air conditioning, control systems, economizer systems, air coolers, and pumping units. These solutions offer protection against hardware damage, data loss, and downtime. Additionally, these solutions also ensure improved manageability, smooth performance of the equipment, and improved cooling efficiency. These solutions are provided by companies such as Xiamen Kehua Hengsheng Co. Ltd., Johnson Controls International Plc, Schneider Electric, and General Electric Company. 

With the surging need to reduce the anomalies in power supply, the critical power and cooling solutions market will advance at a CAGR of 10.8% during 2017–2023. The market was valued at $16,320 million in 2016 and it is projected to reach $32,900 million revenue by 2023. As data centers and banking, financial services, and insurance (BFSI) organizations require uninterrupted supply of power, the soaring number of such centers and financial institutes will amplify the adoption of such solutions in the coming years. 

According to P&S Intelligence, North America dominates the critical power and cooling solutions market, due to the booming number of data centers in Canada and the U.S., primarily on account of the burgeoning demand for data storage and soaring need for data processing power. Of the North American nations, the U.S. is the larger user of such solutions. Moreover, the increasing adoption of mobility solutions and cloud-based technologies will also fuel the usage of such solutions in the region in the foreseeable future.

Thus, the growing need to reduce anomalies in power supply and surging installation of air conditioning units in various end use sectors will fuel the need for such solutions in the foreseeable future.

Source: www.psmarketresearch.com

How Is Increasing Desalination Fueling Water Treatment Chemicals Market Growth?

Factors such as the rising concerns regarding waterborne diseases, surging desalination activities, and stringent government regulations regarding water treatment are expected to drive the water treatment chemicals market at a CAGR of 5.2% during the forecast period (2020–2030). The market was valued at $48,938.1 million in 2019, and it is projected to reach $85,341.8 million by 2030. Currently, the development of advanced chemical-based water treatment technologies has become a key trend in this market.

The increasing desalination activity is expected to facilitate the water treatment chemicals market growth in the coming years. In recent years, desalination has gained rapid momentum in countries with limited freshwater reserves, such as the U.A.E., Qatar, Saudi Arabia, and sub-Saharan nations. The desalination process is adopted in these countries to convert brackish water, or seawater, into freshwater, or potable water. With the burgeoning population in these water-starved nations, the demand for water treatment chemicals will escalate rapidly owing to the soaring demand for high-quality freshwater in these countries.

According to P&S Intelligence, the APAC water treatment chemicals market will also display the fastest growth during the forecast period. This will be due to the surging awareness among the people of developing countries about the vitality of treated water and waterborne diseases. Moreover, the strengthening regulatory framework regarding water treatment will also augment the demand for such chemicals in the coming years. Besides, the rising need to preserve freshwater and growing consciousness regarding the same will also facilitate the market growth in APAC.

Thus, the increasing desalination activities and toughening government framework regarding water treatment will steer the market growth in the forecast years.

Source: www.psmarketresearch.com

How Is Processed Food Industry Fueling Adoption of Corrugated Packaging Solutions?

Corrugated packaging materials are being used in large quantities in the electrical and electronics industry, owing to the increasing consumption of consumer electronics that demands packaging in lightweight micro- and fine-flute corrugated configurations. Besides, the expansion of the e-commerce sector will also amplify the sales of such materials, as it has become the most convenient and affordable option for purchasing electronic devices. With the rising demand for consumer electronic goods, the consumption of these packaging materials will escalate in the coming years.

The electrical and electronics and processed food industries are increasing their reliance on corrugated packaging, as it is made up of natural materials and is one of the most cost-effective packaging solutions for these sectors. Since these materials are developed from natural ingredients, they have the highest recycling rate in comparison to the other packaging materials. In recent years, regulatory and government bodies have raised numerous concerns regarding sustainability and environment. Owing to these reasons, end-use industries are switching to environment-friendly packaging materials for packaging their products.

Moreover, corrugated packaging solutions also find wide application in industries such as footwear, chemicals, tobacco, personal and household care, beverages, wood and timber, furniture, direct mail and dispatch, glassware and ceramics, transport, paper, apparel, textiles, and fresh food produce. It is being projected that the burgeoning demand for personal and household care products like home furniture, cosmetics, and personal care items will fuel the adoption of corrugated packaging solutions in the near future. 

The broadening application base of these cost-effective and environment-friendly packaging materials in various end-use industries has encouraged market players, such as Nine Dragons Paper (Holdings) Limited, Packaging Corporation of America, Georgia-Pacific Equity Holdings LLC, International Paper Company, Lee & Man Paper Manufacturing Ltd., DS Smith PLC, Smurfit Kappa Group, Mondi Group, and Oji Holdings Corporation, to produce corrugated packaging materials in large quantities. The packaging solutions developed by these players help e-commerce and courier companies in easy and convenient delivery of goods to the door-step of consumers.

Thus, the growth of the processed food, electrical and electronics, and e-commerce sectors will lead to the largescale consumption of corrugated packaging materials, globally.

Source: www.psmarketresearch.com