Why will Demand for Electroceramics Surge in Asia-Pacific in Coming Years?

The rapid expansion of the semiconductor and electronics industry is one of the major factors responsible for the mushrooming sales of electroceramics across the world. This is because electroceramics are extensively used for manufacturing electronic devices and semiconductors such as data storage devices, sensors and actuators, power distribution devices, and capacitors. Electroceramics are technologically feasible and have the ability to maintain economic viability and optimize size and space constraints in various final products such as computers, laptops, and smartphones.

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They are used in oxygen sensors, spark plugs, knock sensors, and combustion sensors in automobiles. Moreover, the vehicles that run on internal combustion engines such as cars, motorcycles, commercial vehicles, low-engine power vehicles, and boats/ships use these systems and sensors to monitor qualitative and key performance indicators in automobiles. Due to these factors, the demand for electroceramics is growing sharply all over the world. This is driving the advancement of the global electroceramics market.

Across the globe, the electroceramics market recorded the highest growth in the Asia-Pacific (APAC) region in the past years. Moreover, the market is predicted to demonstrate the fastest growth in this region in the forthcoming years as well. This will be because of the mushrooming requirement for electroceramics in automotive and consumer electronics manufacturing plants and facilities in the regional countries such as India, China, Japan, Taiwan, and South Korea.

Hence, it is safe to say that the demand for electroceramics will shoot up all over the world in the upcoming years, primarily because of their ballooning utilization in the automotive and semiconductor and electronics industries and the rapid expansion of these industries in several countries.

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Why is Demand for Plastic Recycling Surging in Asia-Pacific?

The soaring generation of waste products is augmenting the pollution levels, which is, in turn, fueling rapid environmental degradation. As a result, the governments of several countries are enacting policies aimed at mitigating waste material production or better managing the disposal of these waste materials. For instance, the Chinese government banned the imports of as many as 24 kinds of waste materials including non-industrial plastic wastes, in the country in December 2017. 

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This ban directly affected a very high volume of around 5.1 million metric tones of plastic waste. Moreover, this policy has fueled the popularity of plastic recycling in the country. Apart from these government regulations, the escalating marine, air, and land pollution levels in several countries, on account of the rising commercialization and industrialization rates, are also fueling the requirement for plastic recycling and changing plastic consumption patterns across the world. 

Furthermore, the rising public awareness about environmental consequences of plastic waste generation and disposal, the mushrooming demand for environment-friendly waste disposal methods, and the growing popularity of domestic recycling, especially in various North American and European countries, are also propelling the demand for plastic recycling processes throughout the world. This is driving the expansion of the global market for plastic recycling. The market valuation is predicted to surge from $41,238.8 million in 2018 to more than $64,139.7 million by 2024.

Geographically, the plastic recycling market will exhibit huge expansion in the Asia-Pacific region in the upcoming years, as per the estimates of P&S Intelligence, a market research company based in India. This will be due to the development of numerous small-scale processing facilities and plants in this region. Furthermore, the existence of affordable labor and relaxed environmental regulations and norms regarding plastic usage is propelling the market advancement in the region. 

Therefore, it can be said with full surety that the demand for plastic recycling will soar all over the world in the coming years, primarily because of the rising public awareness about the environmental consequences of plastic disposal and heavy generation of plastic wastes and the increasing enactment of strict regulations regarding plastic disposal in several countries.

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How Is Mining Sector Fueling U.S. Engine-Driven Welder Market?

The U.S. engine-driven welder market will grow at a CAGR of 6.0% during the forecast period (2019–2024), on account of the rising adoption of engine-driven welders in the mining sector and pipeline construction and maintenance operations. The mining and pipeline operations require such welders in remote locations, where there is lack of electricity supply. These factors, will therefore, help the market in escalating from $133.1 million in 2018 to $188.9 million by 2024, in the country. 

In recent years, the U.S. engine-driven welder market has witnessed a significant demand for advanced engine-driven welders. This market trend has encouraged leading manufacturers, such as Lincoln Electric Holdings Inc. and Miller Electric Mfg. LLC, to develop easy-to-operate, lightweight, and compact welders that require less set-up time. For example, Lincoln Electric Holdings Inc. introduced Ranger 330 MPX, a new gas-based engine-driver generator and welder, in February 2019. This product has smaller footprint, is lighter, and has smaller capacity than other machines of its kind. 

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Based on fuel type, the U.S. engine-driven welder market is classified into gasoline and diesel. Between the two, the diesel category is predicted to demonstrate higher growth in the market in the future years. Moreover, this category is predicted to register faster growth in the market in the upcoming years. This would be because of the growing usage of engine-driven welders in pipeline maintenance and construction operations in the country.

The U.S. engine-driven welder market is highly consolidated in nature, with the presence of few major manufacturers, including Hobert Welding Products, Multiquip Inc., Tomahawk Power LLC, Denyo Co. Ltd., and ESAB AB. However, the market is characterized by a large number of distributors such as Airgas Inc., WELDING SUPPLIES FROM IOC, A&B Welding Supply, Middlesex Welding Sales, One Source Equipment Rentals Inc., Cryo Weld, Barnes Welding Supply, TS Distributors Inc., Service Welding Supply, and Norco Inc.

Thus, with the rising number of mining and construction activities, the market will advance at a significant rate in the forecast years.

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Automotive OEM Coatings Market to Display Fastest Growth in Asia-Pacific

The automotive original equipment manufacturer (OEM) coatings market stood at $10,997.4 million in 2018, which is projected to reach $13,661.4 million by 2024, progressing at a CAGR of 4.2% during the forecast period of 2019–2024. The market growth can be driven by technological innovations and developments and the booming automobile industry in developing countries. Besides, the shift toward power coatings from liquid coatings, due to reduced emission of volatile organic compounds (VOCs), is the current trend being observed in the market.

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Additionally, advancement and innovation in the market will add to its growth during the forecast period. This can be ascribed to the increasing focus of OEM paint and coating producers toward novel products, technologies, and processes, to offer premium products for car manufacturers. Besides, automotive producers are seeking technological initiatives and advancements that cover different features and benefits in automobile coatings. These benefits include low maintenance cost, regulatory compliance, greater functionality, and reduced emission.

The technology segment of the market is classified into the powder coatings, solvent-borne coatings, water-borne coatings, and UV-curved coatings. Of these, the water-borne coatings category is expected to grow the fastest in the automotive OEM coatings market till 2024. This can be credited to the increasing inclination toward water-borne coatings over solvent-borne coatings, due to several environmental benefits offered by them. Also, the stringent norms regarding the emission of VOCs are adding to the high-volume demand for water-borne automotive coatings.

Due to the presence of few major players, the automotive OEM coatings market has a consolidated nature. This consolidated market is led by only seven manufacturers: Akzo Nobel N.V., BASF SE, PPG Industries Inc., Nippon Paint Holdings Co. Ltd., Axalta Coating Systems Ltd., The Sherwin-Williams Company, and Kansai Paint Co. Ltd. These players are adopting measures like product launches, geographical expansions, strategic alliances, and mergers, to gain a competitive edge in the market. 

Thus, the increasing demand for automobiles is driving the growth of the market during the forecast period.

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Demand for Acrylates Set to Shoot Up in Asia-Pacific in Near Future

The burgeoning requirement for paints and coatings in the construction industry is one of the major factors fueling the demand for acrylates across the world. Moreover, because of this reason, the boom in the global construction industry, on account of the surging population levels and the increasing urbanization rate, is causing a massive rise in the sales of acrylates across the world. Many countries are making huge investments in infrastructural development projects.

This is pushing up the requirement for acrylate-based paints and coatings, on account of the fact that these materials have high durability, can remain stable at extreme temperatures, and contain zero or negligible concentration of volatile organic compounds (VOCs). Apart from the expansion of the construction industry, the ballooning requirement for acrylic esters in adhesives and sealants is also positively impacting the demand for acrylates across the world. This is, in turn, fueling the advancement of the global acrylates market.

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This was primarily because of the huge requirement for acrylic formulations in various architectural paints and coatings that are applied on the exterior and interior walls of buildings. One of the major trends currently being witnessed in the acrylates market is the increasing preference of consumers for acrylic-based (or water-based) emulsions over the conventionally used oil-based products, due to the various beneficial traits of these products such as short drying time, resistance to water and wear, color fastness, and eco-friendliness.

Hence, it is safe to say that the demand for acrylates will skyrocket all over the world in the coming years, primarily because of the expansion of the construction industry and the surging requirement for acrylic esters in adhesives and sealants.

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Huge Growth Expected in Medical Connectors Market in Future

Cardiovascular diseases kill about 18 million people, while cancer claims around 9.5 million lives each year, says the World Health Organisation (WHO). Similarly, the CDC says that every six in 10 people in the US have a chronic disease. This rising prevalence of long-term diseases is leading to an increase in the demand for healthcare and medical services. Thus, with the expanding patient pool, new hospitals and other healthcare centers are being constructed, which is creating a high demand for various medical devices and associated components.

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This is the primary reason for the growth of the medical connectors market, as none of the electrical systems in medical settings can effectively function without connectors. Board-to-board, push–pull, radio-frequency (RF), magnetic, disposable plastic, hybrid, light-weighted hospital-grade, power/high-voltage, and input/output (I/O) rectangular connectors and power cords with retention systems are used in the healthcare sector. Among these, the demand for RF connectors would rapidly rise in the coming years, owing to the swift miniaturization of medical equipment.

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Among the various healthcare and related settings — diagnostic laboratories & imaging centers, hospitals, academic institutions, ambulatory surgical centers & clinics, and research laboratories — the demand for medical connectors has traditionally been the highest in hospitals. This is because these are much larger than other settings, thus account for a higher number of medical devices in use. Additionally, with more patients visiting hospitals than other places for diagnosis or treatment, the medical devices here work more than elsewhere, thereby leading to wear and tear and higher component replacement rates.

In the coming years, the medical connectors market is expected to witness the fastest growth in Asia-Pacific (APAC), as a result of the rising geriatric population, incidence of chronic illnesses, primarily diabetes and cancer, spending on healthcare and medical research and development (R&D), and disposable income of people. For instance, according to the United Nations Department of Economic and Social Affairs (UNDESA), people aged 60 and above made up 23.2% of the Japanese population in 2000, and this percentage would rise to 35.1% by 2025.

Therefore, as hospitalization rate increases as a result of the growing incidence of chronic diseases and rising geriatric population, the demand for medical connectors would surge too.

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What are Key Factors Driving the Growth of Medical Equipment Maintenance Market?

 The market growth is propelled by the improvements in medical devices, rise in the awareness regarding preventive maintenance, and stringent regulatory ecosystem. At present, end users are entering into multi-vendor contracts to reduce the complexities and additional expenses related to different services offered under individual agreements with the producers of medical equipment.

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One of the key growth drivers for the medical equipment maintenance market is the advancements in the medical device industry. Manufacturers of medical equipment are developing an array of high-quality products by using innovative technologies, on account of the heavy investments in research and development (R&D) activities. Medical devices have a certain life expectancy and need maintenance or replacement after a certain time. Thus, the expansion of the medical device industry will boost the market growth during the forecast period.

Another factor supporting the medical equipment maintenance market growth is the rising awareness regarding preventive medical equipment maintenance. Healthcare facilities are emphasizing cleanliness due to the guidelines laid down by international organizations to prevent infections and improve the cleanliness regimen. For example, as per the hospital hygiene and infection control guidelines of the World Health Organization (WHO), hospitals must focus on equipment management. Due to this, healthcare facilities are adopting numerous types of maintenance services for various medical devices.

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Moreover, the Asia-Pacific medical equipment maintenance market is projected to exhibit the fastest growth during the forecast period. This market is stimulated by the rising number of diagnostic tests in the region and increasing incidence of chronic ailments, which need medical devices for early diagnosis. Moreover, the rapid rise in the number of hospitals in the region, especially in China, will drive the market growth in the future. The number of hospitals in China increased from 27,600 in 2015 to nearly 33,000 in 2019.

Thus, the largescale construction of hospitals, rapid installation of advanced medical equipment, and increasing awareness regarding preventive medical equipment maintenance will fuel the market growth in the coming years.

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Revenue Boom Expected in Global Micromobility Telematics Market Between 2021 and 2030

The global micromobility telematics market revenue stood at $957.7 million in 2020, and the market is predicted to advance at a CAGR of 26.7% from 2021 to 2030. Furthermore, the market will reach a value of $13,010.4 million by 2030, as per the forecast of P&S Intelligence, a market research company based in India. The market is being driven by the large-scale adoption of micromobility solutions all over the world. 

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With the increasing adoption of network services, smartphone connectivity, fleet optimization, and locking mechanisms into these services, the market will register rapid expansion in the coming years. Besides these, the burgeoning requirement for first- and last-mile transportation is also fueling the advancement of the micromobility telematics market around the world. Micromobility services provide mobility solutions for shorter distances, which, in turn, bridges the gap existing in first- and last-mile transportation.

These services are generally required for covering a distance of less than 5 km (3.1 miles) per trip. Furthermore, these services are majorly provided via the station-less or dock-less model, that allows users to leave the vehicle after use at any location as per their convenience. This is massively improving first- and last-mile traveling. Another major factor driving the expansion of the micromobility telematics market is the huge investments being made in the industry by top investors across the world. 

Globally, the Asia-Pacific (APAC) region dominated the micromobility telematics market in 2020. This was attributed to the huge investments received by various regional micromobility telematics firms and the emergence of several technology start-ups in the region. Furthermore, the industry players operating in this region are increasingly focusing on offering affordable micromobility solutions in order to gain the first-mover advantage. This is massively propelling the expansion of the market in this region.

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Hence, it is safe to say that the market will exhibit huge expansion in the years to come, primarily because of the surging adoption of micromobility solutions, soaring requirement for first- and last-mile connectivity, and the huge investments being made by various venture capitalists and investors in the industry. 

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Surging Demand for Bio-Based Packaging Fueling Global Green Chemicals Market Boom

The global market for green chemicals attained a valuation of $9,540.0 million in 2019 and it is predicted to generate a revenue of $18,474.2 million by 2030. Furthermore, the market will progress at a CAGR of 6.6% between 2020 and 2030, as per the forecast of the market research company, P&S Intelligence. The major factors driving the advancement of the market are the growing popularity of bio-based packaging and the rapidly depleting reserves of fossil fuels around the world. 

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In recent times, there has been a sharp surge in the popularity of various bio-based packaging materials, on account of their highly eco-friendly nature. These materials are made from renewable and environment-friendly sources such as animal wastes and plants. Moreover, these materials are non-toxic, have low production costs, need less raw materials for their production, and can be disposed easily, which, in turn, helps in reducing the overall carbon footprint.

Globally, the green chemicals market is predicted to exhibit rapid expansion in the Asia-Pacific (APAC) region in the coming years. This will be because of the burgeoning requirement for these chemicals in various end-use industries such as automotive, agriculture, and personal care and the growing public awareness about the several advantages of using these chemicals over the traditional synthetic ones, especially in the emerging economies such as China and India. 

Hence, it can be said with full surety that the market will demonstrate huge expansion across the world in the coming years, mainly because of the growing demand for eco-friendly chemicals and the rising public awareness about the environmental degradation caused due to the usage of synthetic chemicals.

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How Is Cosmetics Industry Influencing Bismuth Nitrate Market Growth?

The largescale adoption of bismuth nitrate over other derivates of bismuth and rapid growth of the pharmaceutical sector will drive the market for bismuth nitrate at a CAGR of 5.1% during the forecast period (2020–2030). The market was valued at $190.6 million in 2019 and it is expected to reach $287.7 million by 2030. Additionally, the increasing adoption of the compound in the cosmetics industry for the production of hair sprays, nail polishes, eye shadows, and lipsticks has become a key market trend.

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Moreover, the growing inclination toward bismuth nitrate over other derivatives of bismuth will facilitate the market growth in the coming years. In recent years, largescale manufacturers have increased their focus from bismuth oxychloride, bismuth hydroxide, bismuth subsalicylate, and bismuth sub carbonate to bismuth nitrate, owing to the high suitability of the compound to serve as a suitable reactant for selective oxidation of sulfides to form sulfoxides. Besides, the low cost and easy-to-handle features of the compound have also accounted for its higher popularity over other derivatives.

Geographically, the Asia-Pacific bismuth nitrate market generated the highest revenue in 2019, and it is expected to continue its dominance during the forecast period. This is due to the rising R&D investments in the pharmaceutical industry to develop medications for diseases, which do not have any cure, at present. Moreover, the increasing prevalence of cancer in the region also facilitates the market growth. Cancer patients require pain-relieving drugs in large quantities and the requirement for such medicines will accelerate the demand for bismuth nitrate in the future.

Thus, the increasing usage of bismuth nitrate in the pharmaceutical and medical industries will boost the market growth in the coming years.

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Why will Sales of Chlorine Rise in Asia-Pacific in Future?

Growth drivers like soaring demand for polyvinyl chloride and increasing consumption of chlorine for water treatment applications will escalate the market for chlorine at a CAGR of 5.2% during 2020–2030. The market stood at $36,845.0 million in 2019 and it is projected to reach $63,121.6 million by 2030. Moreover, the adoption of this compound for treating water used for irrigation purposes and swimming pools, is increasing. Additionally, governments across the world are taking initiatives to regulate the supply of safe, treated, and clean water, thereby, facilitating the market growth.

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The widescale applications of PVC in siding and piping in the building and construction sector, windshield system components in the automotive industry, and non-breakable containers in the medical industry will fuel the chlorine market in the foreseeable years. Increasing utilization of PVC in several end-use industries can be owed to the various advantageous features of PVC such as high melt viscosity and improved thermal stability. The production of PVC requires high volume of chlorine during the chlorination process, which, in turn, drives the demand for the compound.

The application type segment of the market is categorized into ethylene dichloride (EDC)/PVC, solvents, inorganic chemicals, chloromethanes, and isocyanates & oxygenates. Among these, the EDC/PVC category dominated the market in 2019 and it is expected to continue its dominance throughout the forecast period. This is ascribed to the widescale application of chlorine in the chlorination process for the production of EDC/PVC. With the amplifying demand for EDC/PVC in end-use sectors like building and construction, electrical and electronics, and automotive, the demand for this chemical will rise in the coming years.

Geographically, Asia-Pacific generated the highest revenue in the chlorine market in 2019, and it is expected to maintain its dominance in the forecast period as well. This can be ascribed to the high-volume consumption of chlorine in emerging economies of India, Thailand, and China for the production of EDC/PVC. These products are mostly used in the electrical and electronics, automobile, and building and construction sectors. Moreover, the amplifying usage of the compound in water treatment plants and pharmaceutical industry will give an impetus to the regional market growth.

Thus, the rising awareness regarding water-borne diseases and the increasing usage of PVC in several end-use industries will fuel the demand for chlorine in the future.

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Huge Revenue Jump Expected in Global Automotive OTA Updates Market During 2021–2030

The global automotive over-the-air updates market attained a revenue of $2,422.6 million in 2020, and it is predicted to progress at a CAGR of 19.5% between 2021 and 2030. Furthermore, the market will reach a valuation of $13,859.5 million by 2030, as per the forecast of P&S Intelligence, a market research company based in India. The factors driving the market advancement are the growing deployment of electric vehicles (EVs) and connected cars across the world. 

The increasing deployment of these vehicles is pushing up the requirement for OTA updates, as these vehicles are heavily reliant on the software for their efficient functioning. Moreover, many original equipment manufacturers (OEMs) are making huge investments in OTA upgradation technologies for making it easier for the vehicle owners to update the software of their vehicles. The simplification of the automotive software upgradation process is propelling the growth of the automotive OTA updates market.

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Furthermore, the surging rate of automotive digitalization is pushing up the demand for regular software updates, including updates for cybersecurity solutions. Instead of sending the vehicle to the garage, it is more economical to install these software updates wirelessly or OTA. OTA updates enhance the functionality and facilitate an internet of things (IoT)-integrated environment, which, in turn, makes it very easy to launch new features and protect the devices against data breaches, hacking, and various other types of cyberattacks. 

Another major factor fueling the advancement of the automotive OTA updates market is the increasing implementation of stringent vehicle safety regulations in several countries, because of the rising incidence of road accidents. Automotive manufacturing companies all over the world have always prioritized vehicle safety and with the enactment of vehicle monitoring standards and safety regulations, it has now become imperative for them to make their products compatible with the vehicle standards.

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Therefore, it can be said with full surety that the market will demonstrate rapid expansion in the forthcoming years, mainly due to the increasing deployment of electric vehicles and connected cars and the surging implementation of strict vehicle safety policies by various governments around the world. 

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Why will Demand for Retail E-Commerce Packaging Shoot Up in Middle East and Africa in Future?

The mushrooming demand for various consumable and non-consumable products, on account of the surging global population, is pushing up the requirement for retail e-commerce packaging solutions across the world. As per the United Nations Department of Economic and Social Affairs (UNDESA), the total population of the world is soaring rapidly. It is predicted to grow from 7.6 billion in 2019 to 8.6 billion, 9.8 billion, and 11.2 billion by 2030, 2050, and 2100 respectively. 

Additionally, the increasing penetration of the internet and the growing usage of smartphones are fueling the demand for retail e-commerce packaging solutions across the world. This is because the rapid expansion of digital industries such as the e-commerce industry, on account of the soaring internet penetration, is positively impacting the demand for various packaging materials. Apart from these factors, the ongoing COVID-19 pandemic is also fueling the growth of the retail e-commerce packaging market around the world. 

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As per the World Trade Organization, the imposition of lockdowns, social distancing, and several other protective measures for controlling the spread of the infection in various countries has caused a sharp surge in various online shopping activities, teleconferencing and web conferencing usage, film and video streaming, and social media usage. This has, in turn, propelled the business-to-customer (B2C) sales of household essentials, food products, and medical supplies all over the world.

Across the globe, the Middle East and Africa retail e-commerce packaging market is predicted to demonstrate the fastest growth in the upcoming years. This will be a result of the implementation of various government policies in the regional countries such as the U.A.E. and Saudi Arabia for reducing the economic dependence of these countries on the oil and gas industry and fueling growth in various other sectors such as e-commerce. 

Hence, it can be said with surety that the demand for retail e-commerce packaging will shoot-up across the world in the coming years, primarily because of the burgeoning requirement for different consumable and non-consumable products and the increasing popularity of e-commerce in various countries. 

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Revenue Explosion Expected in Global Automotive Busbar Market Between 2021 and 2030

The global automotive busbar market reached a value of $17.4 million in 2020, and it is predicted to progress at a CAGR of 24.6% between 2021 and 2030. Furthermore, as per the estimates of P&S Intelligence, a market research company based in India, the market will generate a revenue of $177.1 million in 2030. The surging deployment of electric vehicles (EVs) in several countries is a key factor driving the expansion of the market.

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This is primarily because busbars are extensively used in EVs, as traditional cell connections such as strips, lugs, and welded wires are extremely prone to failure due to the dislocation of the cells because of the vibrations caused by a moving automobile. Moreover, busbars have low thermal and electrical resistance and are thus, used heavily in EV manufacturing processes. Besides these, the soaring usage of plug-in hybrid EVs (PHEVs) is also fueling the worldwide demand for automotive busbars.

Many automakers such as BMW AG, Tesla Inc., and Hyundai Motor Company are increasingly focusing on manufacturing EVs, thereby positively impacting the market expansion across the world. The other factors fueling the market growth are the operational benefits and lower costs of busbars than cables. Busbars reduce the assembly time, which, in turn, curtails the internal manufacturing and material handling costs. Additionally, they are widely preferred in motor control center applications, due to their ability to provide ease of retrofitting. 

Because of the aforementioned factors, automobile manufacturers are increasingly preferring busbars over cables. Depending on conductor, the automotive busbar market is divided into aluminum and copper. Between these, the copper category accounted for majority shares in the market in 2020. This was because of the large-scale usage of copper as a conducting material in busbars, on account of its high electrical conductivity, non-magnetic and easily machinable characteristics, and high corrosion resistance. 

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Hence, it can be safely said that the market will register huge expansion in the coming years, primarily because of the growing deployment of EVs and EV charging stations in several countries around the world. 

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Asia-Pacific Set to Witness Surge in Graphite Market in Coming Years

The global graphite market generated a revenue of $19,092.9 million in 2019 and is predicted to reach a valuation of $36,889.1 million by 2030. According to the estimates of P&S Intelligence, a market research company based in India, the market will progress at a CAGR of 7.4% between 2020 and 2030. The factors driving the advancement of the market are the rising requirement for graphite products in the electronics and metallurgy industries around the world. 

Additionally, the growing requirement for graphite in lithium-ion batteries and steel production processes is fueling the expansion of the market for graphite across the world. As per the World Steel Association, the global crude steel manufacturing increased from 1,814 million tons in 2018 to 1,869 million tons in 2019. The surge in steel manufacturing is because of the rising requirement for steel products in several end-use industries such as automotive, oil & gas, residential, and construction. 

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Because of its various beneficial traits such as high durability, strength at extreme temperatures, and high corrosion resistance, graphite is extensively used in the steel manufacturing process. Besides this, the mushrooming usage of graphite in lithium-ion batteries is also propelling the growth of the graphite market all over the world. Graphite is used in huge quantities in lithium-ion batteries as an anode. Each lithium-ion battery needs more graphite (10–20 times) than lithium.

Globally, the market is predicted to register huge expansion in Asia-Pacific (APAC) in the forthcoming years. This will be a result of the growing usage of smartphones, the soaring sales of automobiles, particularly electric vehicles, the expansion of mining operations, and surging commercial applications of graphite in the regional countries. In addition to these, the increasing manufacturing and import of graphite for meeting the domestic requirement for lithium-ion batteries is further boosting the sales of graphite in this region. 

Hence, it can be said with full confidence that the market will exhibit rapid advancement all over the world in the upcoming years, primarily because of the rising requirement for graphite in metallurgy, automobile, and electronics industries around the world.

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Triazine Sales Predicted to Boom in North America in Coming Years

With the growing usage of triazine in the petrochemical industry, its sales are climbing across the world. The compound is heavily used as a scavenger chemical in the stripping process for removing H2S from crude oil. The monitoring of H2S concentrations in petroleum reservoirs is extremely important, on account of the fact that it is a highly corrosive, flammable, and life-threatening gas. Moreover, because of these characteristics of H2S, stringent safety protocols are followed during the operation of various oilfields.

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As the compound has a plethora of beneficial pharmacological characteristics such as anti-inflammatory and antimicrobial features, it is increasingly being used for developing novel drugs. Additionally, the ring structure of triazine is found in various naturally occurring antibiotics such as toxoflavin, reumycin, and fervenulin. 1,3,5- triazine, which is one of the oldest known and most popular organic compounds, is widely used in acetoguanamine, cyanuric acid, aceto-guanide, and ammeline as a lead structure.

Another major factor propelling the growth of the triazine market is the ballooning usage of the compound in the agriculture sector. In this industry, the compound is heavily used as selective post- and pre-emergence weed control agents for corn, sugarcane, barley, sorghum, and wheat. Moreover, because of the surge in the area under farming and cultivation, the production of sugarcane, wheat, and barley is soaring, particularly in the emerging economies around the world.

Therefore, it can be said with full surety that the demand for triazine will shoot up all over the world in the upcoming years, mainly because of the mushrooming requirement for the compound in the petrochemical and healthcare industries and also in farming processes as weed control agents.

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How Is Flourishing Metallurgy Sector Driving Asia Charcoal Briquettes Market?

The soaring popularity of barbecued food and flourishing cement and steel industries will drive the Asian charcoal briquettes market at a CAGR of 6.2% during the forecast period (2020–2024). The market stood at $952.5 million in 2019, and it is projected to reach $1,158.4 million by 2024. Asia has a vivid culture, with every nation having its signature cuisines and cooking styles. However, changing food preferences of people and a growing awareness about a healthy lifestyle can be observed in every country. Owing to this, the consumption of grilled or barbecued food is rapidly rising in the region.

Moreover, the growing metallurgy industry in the region will facilitate the Asian charcoal briquettes market growth in the future. The mushrooming production of steel in China and India has resulted in a high demand for fuels such as charcoal briquettes, as they offer a notable amount of heat for the manufacturing process. The steel industry is increasingly using charcoal briquettes as they are a cost-effective raw material and work as an effective substitute for traditional fuels. Moreover, this fuel is a clean and renewable source of energy.

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India is presently the largest Asian charcoal briquettes market because it is home to a number of producers, therefore accounts for a rather high-volume availability of the fuel. In 2018, 2,880.0 thousand tons of the fuel were produced in the country, says the Food and Agriculture Organization (FAO), which allowed for its easy availability in rural areas, where many people still do not have gas stoves and rely on charcoal for everyday cooking. Moreover, the fuel is also becoming popular for industrial usage in the country.

The Asian charcoal briquettes market is extremely unorganized due to the presence of several small players. Some of the leading players are Thailand Premium Charcoal Supplier, Sagar Charcoal and Firewood Depot, Matsuri International Co. Ltd., Life Green Charcoal Sdn Bhd, PT. Coconut Charcoal Briquette Factory, Mackay Green Energy Inc., PT. Ruby Privatindo, Mesjaya Abadi Sdn Bhd, COCO Energy, and Subur Tiasa Holdings Berhad. These companies are using several strategic measures, such as product launches and distribution agreements, to increase their revenue.

Thus, the growing inclination toward barbecued or grilled food and strengthening metallurgy industry in Asia will fuel the demand for charcoal briquettes in the future.

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Why will Indian Aerosol Market Boom in Northern India in Coming Years?

The aerosol market in India reached a revenue of $526.28 million in 2019 and it is predicted to progress at a CAGR of 6.0% between 2020 and 2030. Furthermore, the market will attain a valuation of $891.13 million by 2030. The market is being driven by the burgeoning requirement for aerosols in the manufacturing and automotive industries and the increasing enactment of favorable government initiatives regarding research and development (R&D) activities in the manufacturing industry.

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With the surging manufacturing of commercial vehicles, passenger cars, two-wheelers, three-wheelers, and quadracycles, the sales of aerosols are growing rapidly in India. As per the Society of Indian Automobile Manufacturers (SIAM), in India, the automotive industry manufactured 30,915,420 vehicles during 2018–19. As per the India Brand Equity Foundation (IBEF), because of the soaring population of young people and the disposable income of people, the sales of automobiles will skyrocket in the coming years.

Geographically, the Indian aerosol market registered the highest growth in the northern part of the country during the last few years and this trend will continue in the forthcoming years as well, as per the forecast of P&S Intelligence, a market research company based in India. This is credited to the growing consumer preference for various personal hygiene products such as antiperspirants and deodorants and aerosol-based homecare and car care products in the northern region.

Hence, it can be said with full confidence that the market will demonstrate huge expansion in the coming years, primarily because of the growing requirement for aerosol in the manufacturing and automotive industries in the country.

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Why is Worldwide Popularity of Critical Power and Cooling Solutions Soaring?

The increasing popularity of cloud computing and digitalization and the burgeoning requirement for improving cooling efficiency in data centers are some of the major factors propelling the demand for critical power and cooling solutions across the world. The mushrooming adoption of cloud computing and digitalization is fueling the development of data centers. Moreover, the existence of poor grid infrastructure is powering the demand for proper backup power sources that can protect electrical equipment from the consequences of grid power fluctuations. 

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Critical power and cooling solutions are highly reliable and help in extending the lifespan of various electrical equipment. Additionally, with the rising industrialization and urbanization, especially in Asia-Pacific, the demand for data storage and power generation is growing rapidly, which is, in turn, propelling the requirement for critical power and cooling solutions. Furthermore, the soaring power requirements in several end-use industries such as hospitals, power plants, and banking and financial services are massively boosting the demand for these solutions.

Due to the above-mentioned factors, the popularity of these solutions is rising sharply across the globe. This is driving the progress of the global critical power and cooling solutions market. Critical power and cooling solutions consist of generators, inverters, converters, uninterrupted power supply (UPS), transfer switches, breaker transfer pairs, power transfer switching, generator paralleling breakers, air conditioning, switch transfer pairs, chilling units, liquid cooling solutions, cooling towers, economizer systems, pumping units, control systems, air coolers, and humidifiers.

In this region, the demand for these solutions was found to be the highest in the U.S. during the last few years. The popularity of these solutions was also very high in several European countries such as Germany and also in the Asia-Pacific region in the years gone by. In the coming years, the critical power and cooling solutions market is predicted to exhibit the fastest growth in the Latin America, Middle East, and Asia-Pacific regions.

Hence, it can be said with full surety that the demand for critical power and cooling solutions will surge sharply all over the world in the coming years, primarily because of the rising requirement for backup power in data centers.

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Where will Wearable Fitness Trackers Market be in 2023?

One of the key factors responsible for the surge in the demand for wearable fitness trackers is the rising adoption of smartphone-based fitness tracking apps across the world. These apps, owing to their ability to provide a wide array of useful features, functions, and designs that help the consumers in their fitness journey, are witnessing a ballooning demand. Furthermore, the support granted to these apps by all the major smartphone operating systems, such as Android, Apple, and Blackberry, is resulting in their easier accessibility, thereby leading to their high utilization. 

The global wearable fitness trackers market is expected to register massive growth during the forecast period (2018–2023), with a CAGR of 16.5%. The mushrooming sales of wearable fitness trackers, as a result of their escalating global demand, are expected to result in $48.2 billion revenue by 2023. In simple terms, a fitness or activity tracker monitors how well people are working on their fitness, by measuring the distance traveled, calories burnt, and also the heart rate. Many of the modern-day activity trackers are synced to a smartphone, which is why the increasing downloads of fitness apps is significant.

Several variants of wearable fitness trackers are now available for purchase: smart garments and body sensors, leg-wear, and wrist-wear. Amongst these, smart garments and body sensors, on account of the rising collaboration of fitness, fashion, and high-tech companies, are expected to record the fastest growth in demand in the near future. Wearable fitness trackers are sold in the market through direct and indirect distribution channels. Owing to the skyrocketing number of online stores and the rising popularity of the online shopping concept, indirect distribution channels recorded higher sales in 2017. 

An increasing number of product launches and  cross compatibility and integration of personal assistance and personal health apps are being observed in the wearable fitness trackers market. The prominent companies manufacturing such devices are frequently launching new and innovative products, primarily to achieve their aim of expanding their global presence and product portfolio. For instance, Garmin International Inc., owned by Garmin Ltd., launched the Approach X10, a golf band variant of its wearable devices, in January 2018, which is compatible with the company’s golf app. 

Geographically, North America was the region which recorded the largest sale of such devices during 2013–2017. This was a result of the presence of prominent consumer electronics companies, such as Fitbit Inc., Apple Inc., and Fossil Group Inc., high frequency of chronic diseases, growing adoption of fitness trackers for health monitoring, and rising healthcare expenditure in the region. In the coming years, people in Asia-Pacific (APAC) are expected to purchase these devices at the highest rate, as the internet penetration is rapidly rising here.

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Why Is Automotive Sector Replacing Nuts and Bolts with Hot melt Adhesives?

With the increasing disposable income around the world, industrialization activities are picking up. This is eventually leading to the growth of the packaging industry, as anything that leaves a factory needs to be packaged, to protect it from the elements till it reaches the end customer. An important raw material required for packaging, both rigid and flexible, is the adhesive. Presently hot melt adhesives, which are available as solid, cylindrical sticks, to be applied by being heated up inside a gun, are becoming popular.

Hence, as per P&S Intelligence, the booming packaging industry will take the hot melt adhesives market value from $7,717.0 million in 2019 to $12,761.3 million by 2030, at a 6.1% CAGR between 2020 and 2030. Within the packaging sector, the usage of such materials for food and beverage packaging is burgeoning. With the increasing purchasing power of people, especially in developing countries, the consumption of packaged food and beverage products, such as potato chips, cold drinks, bakery and confectionery products, ready-to-eat food, biscuits and cookies, and other snacks, is increasing.

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Moreover, the APAC region will also be the fastest-growing region in the hot melt adhesives market during the forecast period. Owing to the booming population in the region, the demand for packaged food, clothing, automobiles, and consumer electronics is rising. Further, raw materials and labor are available at cost-effective prices in regional countries, which is why manufacturers from North America and Europe are setting up their factories here. As a result, the region is also the largest producer of chemicals, including hot melt adhesives, thereby resulting in their ready availability at low rates.

Hence, with the growth of the automotive, packaging, and other sectors, the demand for hot melt adhesives is rising.

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Why Are Researchers Switching to E-Clinical Solutions?

E-clinical solutions are used by healthcare providers, contract research organizations (CROs), and pharmaceutical and biotechnology companies, to acquire, manage, convert, and standardize data. Owing to such features, e-clinical solutions are widely used for clinical trials conducted by pharmaceutical and biotechnology companies. Furthermore, the CROs are using such solutions for supporting the pharmaceutical and medical device sectors, by offering research services, such as biopharmaceutical development, clinical trials management, preclinical research, clinical research, and biological assay management, on a contractual basis.

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Adoption of e-clinical solutions has accelerated, due to rising attempts to invent treatments for diseases like cancer, acquired immunodeficiency syndrome (AIDS), and diabetes. These attempts have encouraged pharmaceutical, biopharmaceutical, clinical research, and life sciences firms to invest hefty amounts in the development of e-clinical solutions market. Furthermore, surging incidence of cancer and diabetes will increase the application of e-clinical solutions. For example, the World Health Organization (WHO) states that cancer accounts for nearly 9.6 million deaths, annually. Whereas, the International Diabetes Federation (IDF) estimates that around 629 million people will suffer with diabetes, globally, by 2045.

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Additionally, booming ageing population will accelerate the requirement of e-clinical solutions, as the elderly are highly susceptible to chronic diseases like cancer, diabetes, and cardiovascular diseases (CVDs). According to the United Nations Department of Economic and Social Affairs (UNDSEA), the population size of individuals aged 65 years or above will reach 225.4 million in India, 356.6 million in China, 84.8 million in the U.S., and 52.0 million in Brazil, by 2050. They require better drugs due to the rising complexities in life-threatening diseases, on account of climatic abnormalities and changing lifestyle pattern.

Another factor driving the demand for such solutions is the government efforts to digitally transform their medical infrastructure. For instance, as part of its Health Information Technology for Economic and Clinical Health (HITECH) Act, the U.S. government incentivizes healthcare professionals who use digital technologies. Similarly, in 2015, the European Union (EU) announced plans to invest $18.1 million for developing the digital health infrastructure in the region, so that as many medical services as possible can be dispensed virtually, thereby resulting in time and cost savings for patients as well as caregivers.

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Surging Deployment of Electric Vehicles Fueling Demand for Lithium-Ion Batteries

With the mushrooming sales of electric vehicles, the demand for lithium-ion batteries is growing rapidly across the world. Due to the soaring air pollution levels and the fluctuating oil prices, the governments of many countries are implementing policies aimed at augmenting the deployment of electric vehicles. As per the Global EV Outlook 2018, 3.1 million electric passenger cars were sold around the world in 2017. This registered an increment of 57% from the electric passenger car sales recorded in 2016. 

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As lithium-ion batteries are extensively used in modern battery electric vehicles (BEVs), due to their high energy density, the ballooning sales of electric vehicles (EVs) are positively impacting the demand for these batteries across the world. Besides the surging sales of EVs, the growing adoption of lithium-ion batteries in various consumer electronics devices is also propelling their worldwide sales. The rising energy density of these energy storage devices is creating lucrative growth opportunities for many lithium-ion battery manufacturing organizations.

Due to the above-mentioned factors, the demand for lithium-ion batteries is increasing sharply all over the world, which is, in turn, fueling the expansion of the global lithium-ion battery market. As a result, the valuation of the market is predicted to rise from $33,720.8 million in 2018 to more than $106,493.0 million by 2024. Furthermore, the market is predicted to progress at a CAGR of 21.8% from 2019 to 2024. 

Across the globe, the lithium-ion battery market is predicted to boom in the Asia-Pacific (APAC) region in the coming years. This will be due to the burgeoning requirement for electric vehicles (EVs), on account of their rapidly falling prices and the implementation of favorable government policies regarding their adoption, and smartwatches, smartphones, smart vacuum cleaners, smart bulbs, laptops, and various other smart devices and the rapid technological advancements being made in this region. 

Therefore, it is quite clear that the sales of lithium-ion batteries will shoot up all over the world in the upcoming years, mainly because of their growing usage in consumer electronics products and the mushrooming deployment of electric vehicles in several countries.

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How Are Lead-Acid Batteries Aiding Transition to Renewable Energy?

Around the world, the population continues to grow, which is leading to the rising demand for electricity, among almost all other things. More people and houses mean more electrical appliances in use, which is putting immense pressure on national grids. In a large number of countries, especially the developing ones, the energy being produced is still way lesser than required. Thus, the existing grids regularly witness high-load conditions, which lead to power cuts for short and long durations.

As power cuts disrupt the day-to-day life, the demand for equipment that can continue to provide power in case of outages has been steadily increasing. Therefore, uninterruptible power supply (UPS) sales are increasing around the world. Since these devices draw electricity from lead–acid batteries, P&S Intelligence has forecast a 3.7% CAGR for the lead–acid battery market during 2018–2023. At this rate, the revenue generated from the sale of these energy storage systems will likely rise from $56.9 billion in 2017 to $70.7 billion by 2023.

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Similarly, the demand for these batteries is also growing in the renewable energy sector. As air pollution continues to mount and days become hazier every year, countries are setting up wind, solar, and hydroelectricity plants to reduce the consumption of crude oil and coal at thermal power stations. Though renewable energy can potentially make the earth greener, its output isn’t reliable. This is why batteries are required at such establishments to store any extra electricity that is produced, so that it can be discharged to the grid when the power demand surges.

Owing to the combined effect of the growing automotive, renewable, and other sectors, the lead–acid battery market is presently dominated by Asia-Pacific (APAC), a trend unlikely to change in the coming years. APAC is the largest producer of vehicles, both conventional and electric, as well as of renewable energy. Coupled with this, construction activities are rampant in the region, which is another factor propelling the installation of batteries, both during construction and for UPSs, after the properties have been bought or leased.

Therefore, with the rapid urbanization pushing up the demand for continuous electricity supply at houses, hospitals, factories, and public transport establishments, the sales of lead–acid batteries will keep escalating.

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Remote Consulting and Patient Monitoring a Reality with Telemedicine

To make healthcare easily accessible to the masses, governments of numerous countries are investing heavily in digital and virtual technologies. For instance, the Health Resources and Services Administration (HRSA) and U.S. Department of Health and Human Services (HHS) invested $15 million in May 2020 in 159 organizations working in the field of telemedicine, to help them ramp up their capabilities amidst the devastating COVID-19 pandemic. Moreover, a month ago, the congress, under the Coronavirus Aid, Relief, and Economic Security (CARES) Act, authorized the Federal Communications Commission (FCC) to invest $200 million for the provision of connected care across the country.

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This is because among many of its purposes, telemedicine is used for monitoring the condition of patients remotely. These days, a number of connected medical devices, such as multi-parameter monitors, blood glucose monitors, sphygmomanometers, capnographs, and electroencephalograms (EEG), are being used to monitor patients’ health and transmit the data over the internet or the phone line to the server of their doctors. Since it saves patients the trouble of physically visiting their doctor for routine stuff, remote monitoring is becoming increasingly popular in far-flung areas.

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However, the most-prominent purpose for which telemedicine is presently used is teleconsulting. In this method, the doctor communicates with the patient via telephone or internet audio and video, wherein regular conditions are diagnosed, symptoms shared, and medical and dietary advice taken. This helps patients in at least two ways: first, it saves them the time and money spent in visiting a healthcare facility, and second, it prevents the transmission of healthcare-acquired infections (HAI). With doctors currently not seeing patients personally for non-COVID illnesses, teleconsulting is being increasingly practiced.

Since the usage of audio and video equipment for remote healthcare purposes mandates technological advancements and heavy investments, the telemedicine market of North America has been the most productive till now. Moreover, the prevalence of chronic diseases, especially cancer and heart issues, is quite high in the region, which creates the need for extensive patient monitoring. Moreover, as per the UN, the geriatric population in the region will increase to 96.3 million by 2050 from 59.9 million in 2019, thereby driving the demand for various telemedicine services.

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Growing Popularity of OLED Displays Fueling Demand for OLED Materials

With the surge in the demand for organic light emitting diode (OLED) displays in smartphones, the sales of OLED materials are growing rapidly across the world. Nowadays, people are preferring smartphones equipped with high quality displays that can be integrated with OLED films. As more and more consumers are preferring electronic products equipped with features such as camera, internet, and multimedia, on account of their surging disposable income, manufacturers are increasingly incorporating OLED displays in smartphones.

Additionally, the growing usage of these materials in the automotive industry is also fueling their sales across the globe. Due to these factors, the global organic light emitting diode materials market is exhibiting rapid expansion. OLED is basically a light emitting diode that is organic in nature and comprises an emissive electroluminescent layer which emits light when electric current falls on it. OLED displays can e driven by active matrix (AMOLED) or passive matrix (PMOLED) control schemes.

Geographically, Asia-Pacific has been the largest OLED materials market in the past. This is because of the surging population in the region driving the demand for residential facilities, which, in turn, are resulting in the increasing need for OLED materials for lighting and display purposes. In addition to this, because of the growth in disposable income of people in countries such as India and China, the demand for smartphones with enhanced display qualities is also increasing, which is further resulting in the rising need for OLED materials. 

In conclusion, the benefits of OLED display, growing demand for smartphones, and increasing residentials projects are driving the requirement for OLED materials.  

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Thanks to Wireless Charging, Long Uninterrupted Drives on Your Tesla Are Now Possible

The ballooning usage of electric vehicles (EVs) is pushing up the global demand for advanced electric vehicle charging technologies such as wireless charging. Wireless electric vehicle charging is a recent innovation that is rapidly replacing the conventional method of charging the electric vehicles by plugging them to a power source. Also known as inductive charging, wireless charging enables the operation of electric vehicles in a similar way to that of the conventional internal combustion engine (ICE) vehicles. 

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Wireless chargers are installed at various points within a roadway for offering continuous charging to the electric vehicles. This way these chargers eliminate the need for batteries having large capacities and the range anxiety issues usually associated with electric cars. Moreover, with the rising requirement for PEVs (plug-in electric vehicles) and fast-charging facilities and the increasing number of research and development (R&D) activities in wireless technology, the adoption of wireless EV charging will rise enormously in the coming years.

While the aforementioned factors are playing a major role in fueling the worldwide demand for wireless EV charging facilities, the flourishing EV industry is the biggest factor responsible for the expansion of the wireless EV charging market. Due to the rising pollution and the growing environmental awareness among the masses, the deployment of EVs is surging sharply across the world. Many people are increasingly preferring to buy EVs over the ICE vehicles, because of the eco-friendly nature of these vehicles.

Globally, the Asia-Pacific (APAC) wireless EV charging market will be very lucrative in the upcoming years, as per the forecast of P&S Intelligence, a market research firm based in India. This will be mainly because of the mushrooming usage of electric vehicles in the regional countries, especially China, which is home to the fastest rising electric vehicle industry in the world. Furthermore, China is one of the biggest producers of inductive chargers all over the world.

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Hence, it can be said without any doubt that the development of wireless electric vehicle charging systems will rise sharply, especially in the APAC region, in the upcoming years, primarily because of the increasing utilization of electric vehicles and the growing requirement for advanced charging systems around the world. 

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What are Major Factors Driving Growth of Competitive Landscape of Private Healthcare Insurance Industry?

 The healthcare industry is among the most prominent industries; however, the cost of private healthcare services is extremely high and most of the people are not able to afford those services. Attributed to this, private healthcare insurance companies provide several kinds of plans for disease, medical, and income protection. Customers have to pay tax-free premiums annually or monthly for such a service. The medical insurance is health insurance policy which covers high deductible medical expenses. The policy covers limited amounts of certain expenses, including emergency services, hospital bed expenses, and ambulatory patient services. 

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The private healthcare insurance industry in the U.S. is being driven by the rising prevalence of chronic diseases, government funding programs for healthcare insurance, and increasing geriatric population. As per the Population Reference Bureau report “Aging in the United States”, the number of people aged 65 years and above in America is expected to increase from 46 million in 2016 to more than 98 million by 2060. Since aged people need medical attention more often, it leads to frequent visits to clinics and hospitals, thereby increasing the burden of medical bills. Ascribed to this, people in this age group tend to increasingly invest in health insurance for lowering the burden of medical expenses. 

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The Asia-Pacific region is expected to emerge as the fastest growing private healthcare insurance industry in the coming years, and countries including Australia, India, Japan, and China are expected to majorly contribute to the industry. This is owing to the expansion of healthcare insurance industry, growing healthcare awareness, and increasing incidence of chronic ailments in the region. In addition to this, the the growing medical tourism in the region is also resulting in the growth of the private healthcare insurance in the region. 

In conclusion, the surging prevalence of chronic diseases and growing geriatric population is leading to the rising adoption of healthcare insurance. 

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