Reviving the Road Exploring the Second-Life Automotive Lithium-Ion Battery Market

The second-life automotive lithium-ion battery market was USD 987.5 million in 2023, and it will rise to USD 4,379.2 million, advancing at a 23.8% CAGR, by 2030. 

The growth of this industry is mainly because of the costly battery recycling procedure as well as the increasing acceptance of electric vehicles all over the globe.

Different nations across the globe are strictly introducing their goal to accept electric vehicles in the coming years, thus, forming profitable growth opportunities for EV and battery makers.

The rising count of partnerships as well as collaborations is a key trend being witnessed in this industry. Key energy storage technology providers and OEMs around the globe have taken different business initiatives, such as pilot projects, to discover the applications of utilized EV batteries. 

This is being carried out to support energy storage in commercial, residential, and industrial locations and promote electric vehicle charging at both public charging stations and homes.

The lithium–iron phosphate category was the largest contributor to the second-life automotive lithium-ion battery market in 2023, with a 35% share. This can be because LFP batteries are relatively safer compared to other kinds and have a better life span, thus, it is favored by numerous EV makers, particularly in China.

The passenger car category led the industry in 2023, with approximately 50% share. This can be because of the backing from the governments of key automobile-selling nations, including the U.S. and China, for making new-energy cars.

In addition, the increase in the need for fully electric passenger cars with a high-range-per-charge feature is also boosting this category expansion.

The base stations category was the largest contributor to the industry in 2023, with approximately 45% share. This can be mainly because battery systems are progressively being employed in telecommunications base stations as aggregated as well as highly distributed assets for frequency containment reserves.

APAC accounted for the largest share of the industry in 2023, of approximately 55%. This can be mainly because of the region’s largest EV sales across the globe, powered by China. Moreover, China stands as the largest electric car industry in the world, with approximately 60% of the worldwide electric cars sold in 2022. 

Europe was the second-largest contributor to the industry, and the region is further likely to advance at the fastest compound annual growth rate, of 24.4%, in the years to come. This will be primarily because of the surge in the sales of electric vehicles; sales rose by more than 15% in 2022.

With the costly battery recycling process, coupled with the surging acceptance of electric vehicles worldwide, the second-life automotive lithium-ion battery industry will grow continuously in the years to come.

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U.A.E. Diesel Generator Set Market Will Reach USD 204.5 Million By 2030

The U.A.E. diesel generator set market is witnessing growth and is projected to reach USD 204.5 million by 2030. The significant development is credited to the growing need for main and backup energy sources, mainly in retail stores, residential buildings, hotels, office spaces, and hospitals.

Additionally, the industry development is propelled by the high-volume need for medium- and high-energy diesel gensets from the commercial industry and the development in the mining, construction, oil & gas, energy & power, and manufacturing industries.

In recent years, the 376–750 kVA category had the leading revenue share in the industry, of over 40%. This can be credited to the increasing installation of such diesel gensets in commercial buildings, such as healthcare facilities, shops, manufacturing facilities, hospitality units, and several other services as a backup power source. Diesel generators are favored in the region due to their affordability and widespread availability, making them the preferred choice to address power interruptions caused by outages.

With the fast-growing demand for high-performance diesel generator sets, particularly among the major construction firms, oil and gas companies, and the enterprises that seek the latest models being in the lead, the UAE has witnessed an increase in such markets. 

And to cater to this expanding market, many companies are therefore innovating to present top-notch products and are also allocating and investing funds for developing or for setting up their supply chains. On top of it, some companies decided to form partnerships to receive more customers and clients in the U.A.E.

The U.A.E. is experiencing a growing utilization of data centers by hyperscale cloud providers and other businesses looking to capitalize on domestic and worldwide data usage. Local authorities have also contributed to growing the demand for the nation's cloud services.

Besides these, a remarkable growth of technology including the Internet of Things (IoT), edge computing and 5G networking is giving birth in the U.A.E. to another requirement of massive data storage. 

Additionally, the process of big data application extends to different segments of the economy including e-commerce, online payment systems, and Internet banking, among others, which brightens the market for data centers in the near future.

In recent years, on the basis of application, the industrial category had the largest revenue share, of more than 40%, and the industry is also estimated to show substantial development during the forecast period. Industrial development growth becomes the key drive for the sale of diesel generator sets. 

Going along, the growing number of large-scale industrial construction projects in the country would lead to a higher number of industrial-purpose diesel generator sets in the same period.

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Exploring the Automotive Anti-Pinch Power Window System Market

The number of passenger vehicles across the globe has risen considerably over the past few years. The sales of mid-priced passenger cars reached more than 30% among the global sales, in 2016, and the industry is further expected to advance at a considerable rate in the years to come. 

This is ascribed to the increasing disposable income of people and strong economic growth in various countries. Furthermore, over 60% of passenger car sales is accounted for by developing countries, where the sales are predicted to increase by 5%–6% by 2020. This growing demand for passenger vehicles is leading to the rising demand for automotive anti-pinch power window. 

The anti-pinch technology is utilized as a safety system in modern vehicles that are integrated with power windows, which use an electric motor for operating. The anti-pinch technology avoids the winding up of the power window. In case the system senses any hurdle in the path of the glass, it stops the window glass from moving up, thereby preventing possible injuries to the passengers and drivers. It is due to such advantages of this technology that the automotive anti-pinch power window system market is expected to progress at a considerable rate in the years to come. 

The demand for this technology in the automotive sector has been growing due to the increasing electrification of vehicles and the rising awareness regarding safety features among customers. In addition to this, governments of various countries are also implementing various policies and are taking several initiatives to make sure that the safety of vehicles is increased. The demand for this technology is particularly high for luxury cars in emerging economies. Since the technology is considerably new, it is mostly integrated in luxury vehicles. This factor is further driving the demand for luxury vehicles in various countries. 

Between these two, the passenger vehicles division accounted for the major share of the market in the past, owing to the swiftly growing automotive industry, primarily in developing countries, such as Brazil, India, South Africa, and China. As per a report by P&S Intelligence, North America and Europe together accounted for about 70.0% of the global automotiveanti-pinch power window system market in 2016. This can be attributed to the strict safety norms regarding vehicle safety, rise in vehicles export and production, technological advancements, and increasing investments in the automotive industry. 

Hence, the demand for the anti-pinch technology is growing due to the rising sales of passenger vehicles, increasing demand for luxury vehicles, electrification of vehicles. 

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Exploring the Electrolyzers Market Trends, Applications, and Future Prospects

The electrolyzers market was USD 496.7 million in 2023, which will increase to USD 51,992.8 million, advancing at a 94.7% compound annual growth rate, by 2030.

Moreover, the increasing need for green ammonia derived by electrolysis is assisting the expansion of this industry. The majority of ammonia is made via conventional approaches, necessitates more power, and it contributes approximately 1.8% of worldwide carbon dioxide emissions.

The rising emphasis of nations around the world on net-zero carbon dioxide emissions is the major reason behind the rising utilization of the electrolysis technique for making green ammonia.

The proton exchange membrane (PEM) category, on the other hand, is likely to advance significantly in the years to come. This can be primarily because of the progressions in this technology, coupled with the fact that these types are a basis of high-purity hydrogen.

The more than 2,000 kW category, based on capacity, will advance significantly during this decade. This is because of the rising need for electrolyzers of this category in the industrial and automotive sectors.

In addition, because of the rising incorporation of these devices in electric grids, the industry is expanding.

APAC is likely to observe a high compound annual growth rate in the years to come. This is because of the increasing need for fuel-cell EVs in South Korea, Japan, and China and the commencement of key green H2 projects in China.

It is because of the rise in the need for clean energy sources, the electrolyzers industry will continue to advance significantly in the years to come.

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Exploring the Advantages of Automotive OTA Updates

It is hardly believable to imagine a world where we go inside any store every time to update our phone or computer OS. But we’re used to using OTA technology to keep up with the latest updates such as bug fixing and also launching new functions.

Though currently only a few of us link OTA updates with the auto vehicles, our views will soon change. With the help of this technology, manufacturers are trying to save and make money by looking for means of recalling and introducing updates.

Understanding Automotive OTA Updates 

OTA updates may include the software component known as SOTA, and FOTA – firmware over-the-air. Currently, SOTA updates are more likely to be used in vehicles than FOTA. If you are wondering why, it assists in understanding the differences between firmware and software.

Most of the automotive FOTA updates are directed to the essential systems. Alternatively, SOTA updates are mainly used to address the other non-safety issues such as poor latency that causes laggy touch screens.

Now, let’s look at some major advantages of Automotive OTA Updates:

When your car has a breakdown, it is very stressful and troublesome. The benefit of the OTA updates is that they take much less time from the consumers. Even if there is an advanced coffee maker, nobody would like their day to go by sitting in the dealership’s service waiting room.

A second benefit is money. People want to know how they can pay less for the repairs. Removal of the labor charges by the OTA updates reduces repair costs for any problems that are not recalled or beyond the manufacturing warranty limits. That is also great news for the dealers affected by a national shortage of auto technicians.

Moreover, data scientists will use the benefit of bidirectional connectivity that is being offered by OTA to upgrade the battery technology. Automakers can send or receive data from electric vehicles to enhance their performance over time.

OTA technology additionally makes it possible to monitor in real-time, and this will be very useful for any company that benefits from knowing the location of its drivers at any given moment and how a car is used.

Wrapping This Up

With the growing count of EVs and connected cars, the demand for automotive OTA updates will reach USD 13,959.5 million by the end of this decade.

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Fiberglass Market Will Reach USD 49.1 Billion By 2030

The global fiberglass market is expected to reach an estimated USD 30.1 billion in 2023 and grow by 7.3% during the period between 2024 and 2030, reaching a value of USD 49.1 billion over that period. This is mainly due to the exclusive features of fiberglass, like high tensile strength, high resistance to chemicals, relatively low density, and non-flammable nature. Therefore, it has applications in many industries, like aerospace, construction & infrastructure, automobile, wind energy, septic tanks, boats, and water tanks.

On the basis of type, the E category is leading the industry, with the largest share of 25%, in 2023. This is mainly due to the special features of E glass, like resistance to vibrations and abrasion, higher specific resistance than steel, and good flexibility. Thus, E glass fibers are utilized on a large scale as an insulator for electrical conductors, in the textile sector, and for manufacturing advanced composites.

In 2023, composites claim the majority share by application, primarily attributed to the numerous advantages of fiberglass composites when compared to conventional materials like wood and steel. These composites offer cost-effectiveness, resistance to corrosion, strong structural capabilities, and minimal maintenance needs. Consequently, the growing adoption of fiberglass composites in industries such as automotive, aerospace, and construction is anticipated to propel market growth throughout the forecast period.

In 2023, the APAC region commands a market dominance with a 50% share. This is attributed to the widespread use of fiberglass across various industries, a rise in industrialization levels, and the substantial population in China and India. Additionally, the market in the APAC region is expected to experience growth during the forecast period due to increasing disposable income and the presence of major players.

The fiberglass sector is driven by the replacement of conventional materials with fiberglass across various industries.

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North America Foam Blowing Agents Market Will Reach USD 451.5 Million By 2030

In 2023, the North American foam-blowing agents market stands at a robust USD 305.8 million, with a projected compound annual growth rate (CAGR) of 5.8% anticipated during the period from 2024 to 2030. This substantial growth trajectory is expected to propel the market to reach an impressive USD 451.5 million by the year 2030.

Moreover, new applications in the healthcare market will aid in the growth of the sector. for instance, the FDA approved a new foaming agent for therapeutic gastrointestinal injuries in armed personnel by being injected into the abdomen. The needed pressure to halt the bleeding is molded by blowing agents. A recent study discovered that in the past few years, contemporary foaming tech aided in averting close to 91% of mortalities on the frontline.

Another major sector that utilizes foam-blowing agents is manufacturing, which endures to boom in the U.S. and Canada. Furthermore, the rising need for greater blowing agents to manufacture polymeric foams helps the sector grow. Apart from construction and building, the rising automotive & transportation, packaging, marine, furniture & bedding, electrical appliances, and packing sectors are driving the polymer foam market.

The foam category is segmented into polyurethane foam, polystyrene foam, phenolic foam, and polyolefin foam. The polyurethane foam category dominates the industry, and this dominance can be credited to the flexibility and distinctive properties linked with polyurethane foams.

In addition, in the field of use as roof or wall reinforcement for agriculture, home, and commercial buildings, there is a growing demand for PU foam blow agents. In this respect, the continuing growth of these sectors and the fact that building insulation is vital in a region as cold as it is has led to an increased market. It is only by good insulation that the desired temperature inside buildings may be maintained, and energy needs for heating are reduced.

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Rising Air Pollution is Driving Compressed Air Filter and Dryer Market

The size of the compressed air filter and dryer market was USD 5,596.7 million in 2023, and it will power at a rate of rate of 5.8% by the end of this decade, to touch USD 8,350.1 million by 2030. This has a lot to do with the growing air pollution, rising consciousness among individuals with regards to the advantages of strict government guidelines, fast industrialization, and progressions in tech with regards to compressed air filters and dryers.

Furthermore, the air dryer is majorly used in the in the elimination and control of moisture in the air and offering pure, clean, and safe compressed air, which will endorse its evolution in demand in the years to come. 

Furthermore, this is because the tech is proceeding particularly in the automation and manufacturing sectors and the substantial development in the automotive industry. Also, the requirement is growing for effective and dependable systems associated with compressed air dryers and filters for improving competence, quality of the product, and productivity in the vehicle manufacturing.

It is because of the increasing urbanization and air pollution all over the world, the demand for compressed air filters and dryers is on the rise. This trend will continue in the years to come as well.

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Semiconductors Chemicals Market Will Reach USD 28.3 Billion by 2030

The global market size of semiconductor chemicals was estimated to be USD 12.5 billion. billion by 2023, and it is expected to grow at a compound annual growth rate of by 2030, the rate of 12.5% over 2024 to 2030 should reach USD 28.3 billion.

This growth of the market can be credited to the increasing usage of electronic devices, such as smartphones, laptops, and IoT gadgets, which has, ultimately, propelled the making of semiconductors. This has generated a high demand for chemicals that are utilized in wafer fabrication procedures. Furthermore, the progressing semiconductor technologies, like complex designs, and the evolution to smaller nodes require the growth of new chemicals, in order to fulfill the needs for efficiency, miniaturization, and performance.

The APAC region holds a substantial position in the semiconductor chemicals industry, and the region is projected to reach a value of over USD 6.0 billion by 2030. This can be credited to the increasing automotive sector and the increasing output of semiconductors. Along with the growing semiconductor production, the increasing R&D in this area is a substantial driver. The industry is also rising due to the robust government aid for digitization and the existence of key companies. In APAC, China grips the foremost position, credited to the fast acceptance of progressive technologies.

The global semiconductor market is witnessing a major trend, driving substantial growth in the semiconductor chemicals market. This growth is attributed to the pivotal role of semiconductor chemicals in powering electronic devices like tablets, smartphones, and laptops.

The increasing demand for semiconductor chemicals is driven by the widespread adoption of modern technologies across various industries. These chemicals play a crucial role in manufacturing and advancing semiconductor components used in diverse sectors such as aerospace, automotive, and general manufacturing.

The conductivity and efficiency of semiconductors are determined by the dopants incorporated during production. Proper functioning of these devices requires processes like etching, cleaning, doping, polishing, servicing, and regular maintenance. There is a continuous effort to improve efficiency and functionality by employing new materials in wafer fabrication, with a significant emphasis on sustainability. These advancements align with the growing use of renewable energy, electric vehicles, the Internet of Things (IoT), and other environmentally friendly approaches to life.

The market for semiconductor chemicals is driven by the adoption of advanced digital technologies across industries.

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Waste Heat Recovery Market Will Reach USD 133.2 Billion By 2030

By 2023, the market for waste heat recovery is expected to be worth USD 75.4 billion and it will grow at a compound annual growth rate of 8.5% between 2024 and 2030 in order to exceed USD 133.2 billion by 2030. This growth of the market can be credited to the growing concern for greenhouse gases (GHGs). Along with this, the increasing automation level is causing the growing need for power, and the growing electricity expenses propel the world to produce it sustainably.

Climate change shows a great test for financial, political, social, and environmental dimensions globally. The most lucrative and dependable method to justify carbon releases and saving on expenditures is advancing power effectiveness. Delivering electricity for justifiable financial growth is a shared aim of both advanced and emerging nations.

Industrial amenities produce significant heat during their workings while contributing to a heightened carbon footprint and opposing ecological consequences. Waste heat retrieval systems play a vital role in accelerating the overall electricity efficiency of industrial manufacturing procedures by decreasing the requirement for fossil fuels to produce primary electricity.

The waste heat is transported to a medium or fluid, which can then be utilized to produce steam to propel a turbine in a making facility. Moreover, in the aluminum and copper sectors, the gases generated after recovery can be used to preheat the stock. The benefit of this is a decrease in the danger of explosions that can result from entrapped water vapor.

The cement category is expected to have a high growth rate in the end-user segment during the forecast period. Rapid worldwide growth of the construction sector has given rise to a strong demand for waste heat recovery systems within the cement industry, as well as with regard to other developing economies. In particular, educational, social, retail, health care, and residential sectors have been experiencing such growth in India, China, and Indonesia.

In a wide range of manufacturing processes, heat exhaust gases are discharged into the atmosphere. This heat can be captured and transferred to a different medium such as water or air, with the use of heat exchangers. Recovered heat may be used for the preheating of incoming process fluids, space heating or to generate steam in other processes.

The largest industry for waste heat recovery systems is Europe. The European Union's rules to produce energy from waste and the growing public consciousness of power effectiveness and air pollution are the major industry development propels in this region.

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Waxing Trends: Navigating the Global Wax Market

The wax market was USD 10.6 billion in 2023, which will touch USD 14.7 billion, growing at a 4.9% compound annual growth rate, by 2030.

The paraffin category is the largest contributor to the industry. This is because of the fact that paraffin wax is employed for various applications in different sectors. For example, paraffin wax is employed for coating packaging material in the packaging sector. 

In addition, it is utilized in the lubrication and electrical insulation sectors as it offers exceptional heat retention and absorption abilities.

The candles category, on the basis of application, is the largest contributor to the wax market. This is because of the growing need for aromatherapy via scented candles for relaxation and stress reduction. Furthermore, the rising trend of people selecting candles with color and fragrance, to improve room décor or ambiance, boosted the requirement for wax.

The packaging category is the second-largest contributor to the industry. Quality control is highly essential in the food sector, particularly in developed nations, where government rules are strict. Waxes possess great moisture barrier properties; therefore, they are employed in packaging to preserve the food products' quality.

Moreover, the surging utilization of cosmetic products like lotions, makeup, sunscreens, and creams by the younger populace in India, Japan, Indonesia, China, and South Korea will further boost the regional industry expansion.

With the rising need for this product across different sectors owing to its good chemical resistance, high gloss, and water repulsion, the wax industry will continuously progress in the coming years.

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Automotive Lithium-Ion Battery Market Will Advance at a 16.8% CAGR

The automotive lithium-ion battery market is estimated to touch USD 18.7 billion in 2023, which will rise to USD 55.6 million, propelling at a 16.8% CAGR, by 2030.

The progression of this industry is because of the surging need for hybrid & electric vehicles and the increasing R&D activities to enhance such battery performance.

Moreover, the strict as well as necessary government guidelines implemented to protect the environment are also aiding the industry expansion.

The passenger car category, based on vehicle type, is the largest contributor to the industry, and it will further propel at a 16.6% CAGR, during this decade. The increasing disposable salaries of customers, swift urbanization, and changing lifestyles are raising the demand for passenger cars across the globe, particularly in China.

The Lithium Iron Phosphate (LFP) category, on the basis of battery type, is dominating the automotive lithium-ion battery market. This can be because of the surging demand for LFP batteries from electric cars and electric bus makers. This is because these batteries have long lifespans and high energy density as well as thermal stability making them less likely to thermal runaway and overheat.

In 2023, the fully electric category, on the basis of vehicle technology, is the largest contributor to the industry, with a 45% share. This can be because of the enhanced average quantity of batteries employed in fully electric vehicles compared to those in PHEVs and HEVs.

The cylindrical category, based on battery form, will propel at the highest rate, during this decade. This is because of the swift heat loss by cylindrical cells in the discharging and charging, their increasing acceptance in various sectors, and their cost-efficiency.

Europe is likely to propel at the fastest rate during this decade. This is because of the goal set by regional governments to boost the sales of EVs as well as the existence of key automobile businesses in this continent.

It is because of the surging demand for hybrid as well as electric automobiles, the automotive lithium-ion battery industry will continue to progress in the years to come.

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Rising Preference for EVs and Low-Emission Vehicles Boosts India EVSE Market

The India EVSE market is estimated at USD 5,591.7 million in 2023, which is likely to touch USD 44,269.2 million, with a 32.6% compound annual growth rate, by 2030. 

The growth of this industry is because of the rising fondness for low-emission automobiles, as well as the increasing acceptance of electric vehicles. 

Additionally, India is likely to generate both direct as well as indirect job opportunities in the electric vehicle sector, such as jobs in charging infrastructure development, manufacturing, and other associated services. The potential of job creation is an enticing investment as well as further boosting the industry growth.  

The public category, based on application, will advance at a faster rate in the India EVSE market, with a 33.0% CAGR, during this decade. This is because the government is offering support by implementing strategies and providing monetary incentives to establish fast-charging networks in the nation.

Furthermore, this category is further boosted by the arrival of major companies, along with their continuing partnerships with original equipment manufacturers in the nation.

The northern region, on the other hand, which comprises states such as Haryana, Delhi, Punjab, and Uttar Pradesh, will advance at the fastest rate during this decade. This is because of the high level of congestion and air population in the main cities of these states, which increase the government's efforts to enhance air quality.

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Cross-Linked Polyethylene Market was Led by the Wires and Cables

The revenue of the cross-linked polyethylene market generated USD 7,544.8 million by 2023, which will power at a compound annual growth rate of 7.7% by the end of this decade, touching a value of USD 12,587.5 million by 2030. 

The use of this material is quickly growing in the automotive sector, for wires and cables; and the construction sector, in pipes and wiring. The main reason behind the use of this polymer in the automotive industry for cables and wiring systems is that it offers electrical insulation and sturdiness.

Automotive will be the fastest-growing category, with a rate of 8%, in the years to come. This is as a result of the growing use of this polymer in numerous automobile mechanisms and parts for its sturdiness, elasticity, electrical insulation, and high resistance to rust and extreme temperatures. 

Additional key factor powering the requirement for this polymer amongst automotive OEMs is that it improves the life of automobiles as a result of its mechanical strength.

Wires & cables dominated the industry. In telecom, copper and fiber-optic cables support worldwide connectivity, enabling data, voice, and video transmission. In aerospace, lightweight, and high-performance cables have an important role to play in navigation, communication, and powering aircraft. 

Furthermore, in healthcare, cables are put to use for connecting diagnostic equipment and patient monitoring systems, to allow accurate diagnoses and care.

With regards to volume and value, the largest type in the market is HDPE. It is an all-rounder material for plumbing uses as a result of its, high tensile strength, high density, firmness, strong resistance to chemicals, and aptitude to endure higher temperatures than LDPE. Therefore, tubing and pipes made of HDPE have expanded significance in the construction and industrial sectors.

APAC cross-linked polyethylene market is growing the fastest, with regards to both value and volume, and showcase the fastest rate in the future. XLPE’s requirement has been growing in the region in diverse applications, for example plumbing, wires & cables, and automotive. 

China, India and Japan are the key nations in the region with regards to the consumption of this polymer. The ongoing expansion of the construction sector, growing rate of urbanization, booming population, easy availability of raw material, increasing R&D in key industries, and players of the industry’ implementation of strategies to fulfill the requirement for this material powers the industry.

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What Are Inorganic Salts, and Where Are They Used?

To most people, ‘salt’ simply means table salt, or sodium chloride. However, the word has a specific meaning in chemistry, hence denotes a wide array of compounds, almost all of them powders. In technical terms, any compound that has a cation (positively charged atom) bonded to an anion (negatively charged atom), such that the net charge of the molecule is 0, is a salt. In the simplest form, a salt can be produced by reacting an acid with a base (alkali).

According to P&S Intelligence, the inorganic salts market is expected to display a 6.5% CAGR during 2024–2030, to reach USD 290.8 billion by 2030 from an estimated USD 188.6 billion in 2023. Inorganic salts are those that do not contain a carbon–hydrogen bond. In fact, the majority of the industrially used salts are inorganic. They are used as raw materials, intermediates, and final products in a variety of applications, such as fertilizers, food and beverage products, construction chemicals, healthcare, cosmetics, and personal care and homecare products. Hence, due to such a wide application area of such compounds, their consumption keeps on growing.

Such chemicals can be classified both on the basis of their cation and anion. For instance, sodium chloride can be classified both as a sodium salt and a chloride salt. This makes the segregation of these compounds based on their application a little easier. For instance, phosphate salts, specifically diammonium phosphate and ammonium dihydrogen phosphate (also known as monoammonium phosphate), are majorly used in fertilizers. Similarly, silicate salts are widely consumed in the glass industry; silica being the major raw material that goes into the production of glass.

In the same way, titanium dioxide is a major component of paints and coatings as it gives them their white color. Hence, as construction activities burgeon around the world, the demand for paints and coatings will grow, which will drive the consumption of titanium dioxide. Another key material that is witnessing a booming demand with the growing construction sector is steel. It is used widely as a structural element in buildings, bridges, and towers. Its burgeoning consumption is propelling the demand for aluminum oxide, or alumina, which is used as a refractory, the bricks that line the furnaces.

Moreover, a large volume of inorganic salts isn’t used itself, but to extract their base mineral. Many important metals do not exist in the elemental stage, but as oxides and sulphides. For instance, iron exists as ferrous oxide and ferric oxide, while copper, which is also available in its native (elemental) state, is usually extracted from cuprite (cupric oxide) and chalcolite (copper [I] sulphide). Similarly, bauxite contains aluminum in the form of hydroxide salts. In the same way, calcium is usually mined from calcium carbonate (marble), while silver is found in the form of silver sulphide.

Currently, Asia-Pacific (APAC) is the largest inorganic salts market because of its massive chemical industry. The demand for pharmaceuticals, paints and coatings, personal care products, food and beverage products, and fertilizers is booming in the region, which is propelling the demand for a variety of inorganic salts. For instance, the growing automotive sales and construction activities are propelling the demand for paints and coatings, while the rising prevalence of several diseases is driving the consumption of pharmaceuticals. As all these products contain some or the other inorganic salts, their increasing demand is driving that of the latter.

Therefore, with the widening industrial production, the demand for inorganic salts will rise.

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What is the Application of Natural Fiber Composite in Automotive Sector?

There has been increased customer consciousness towards new products from renewable sources over the past few years. Fresh opinions on recycling, green marketing, alteration of cognitive values, and social influence have directed customers towards eco-friendly outcomes. 

Precisely, composite materials are being produced as well as reshaped to enhance and adapt conventional products and present new products responsibly and sustainably.

Natural fiber composites, shortly NFCs, are composite materials, in which at least the supporting fibers are produced from carbon dioxide neutral and renewable resources like plants or wood.

Increasing Application in Automotive Sector 

The automotive sector is a significant user of the natural carbon fiber composites. Because of the increasing worries regarding greenhouse gas releases, sustainability, and fuel efficiency, vehicle manufacturers are constantly searching for lightweight materials to decrease the vehicle's weight and improve their total performance. 

A major benefit of natural fiber composites for the automotive sector is their remarkable strength-to-weight ratio. Such composites are extremely lightweight; however, they have significant stiffness and strength, making them a perfect option for the structural parts of automobiles. 

By integrating natural fiber composites, vehicle manufacturers can significantly decrease the weight of vehicles, resulting in greater fuel efficiency as well as decreased carbon emissions. 

Explaining the Rising Importance of Natural Fiber Composite

The requirement for recyclability is a key booster for the increasing importance of natural fiber composites. The capability to recycle as well as reuse natural fiber composites encourages sustainable practices, offers monetary benefits all through the value chain, and addresses environmental problems. 

In contrast to conventional carbon fiber composites, which are generally hard to recycle because of the energy-intensive and complex procedures involved, the natural types are recyclable to produce more quantities of elements. These composites can undergo mechanical recycling, where they are ground, shredded, and chopped into tinier pieces, which can be employed to extract functional material.

To Wrap it All Up

With the increasing need for environmentally friendly materials across different sectors, the demand for natural fiber composite is likely to surge, and it will reach a value of USD 546.3 million by the end of this decade.

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Automatic Number Plate Recognition System Market is Led by North America

The automatic number plate recognition system market is estimated to generate USD 3,219.9 million in 2023, which will touch USD 6,010.8 million, propelling at a 9.5% compound annual growth rate, by 2030.

The growth of this industry is because of the increasing usage in agencies, such as parking, toll plazas, traffic management, and police force; the growing automotive sector; and the rising trend for pay-per-use roads.

Moreover, the high capital funding mainly in developing countries, coupled with the increasing acceptance of advanced systems and technology by different governments to control traffic, also boosts the industry.

In 2022, the fixed category, based on type, was the largest contributor to the industry, and it will remain the largest throughout this decade. This can be because of the increasing utilization of these systems for traffic management and the rising transformation in road infrastructure.

Moreover, this category is also driven by its high deployment in interstate areas and borders with heavy traffic, as well as the surging need for automated parking management systems.

In 2022, the government category, based on end user, led the industry, and it will remain leading throughout this decade. This can be because of the rising count of government infrastructural projects, coupled with the increasing acceptance of developed technologies by public safety agencies.

The commercial category, on the other hand, is likely to propel at a faster rate during this decade. This is mainly because of the increasing number of commercial complexes, luxury apartments, and shopping malls, where this technology is used for parking management.

In 2022, North America dominated the industry, and it will remain dominating throughout this decade. This can be because of the developments in current traffic control systems, the swift digitalization, and the increasing need for human-free involvement in traffic monitoring devices.

APAC is likely to propel at the fastest rate during this decade. This is because of the increasing urbanization rate; the easy accessibility of sensors employed in such systems; and the growing living standard along with rising per capita income.

With the rising growth in the automotive sector, the automatic number plate recognition system industry will continue to progress in the coming years.

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Piezoelectric Ceramics Market is Led by the APAC Region

The piezoelectric ceramics market is valued around USD 1,498.6 million in 2023, which will reach USD 2,098.5 million by 2030, driving at a rate of 5.2%. 

As a result of the increasing consumer requirement for smart devices, smartphones, wearable electronics, and IoT devices, the electronics industry is increasing incessantly. Actuators, sensors, and transducers play an important role in these gadgets; hence, the requirement for dependable and effective sensing & propulsion capabilities in electronic goods powers the industry. 

These ceramics are put to use as the main sensing components in various sensors in numerous sectors. Precision, wide sensing range, and rapid responses are vital from high-performance sensors, which these resources can deliver.

Lead zirconate titanate has a considerable share of 35%, in 2023, chiefly because of its high piezoelectric coefficient, allowing it to efficiently convert mechanical stress into electrical signals and vise-versa. 

In the application segment, capacitors will have a robust growth, because of the increasing requirement for cutting-edge capacitors in electronic products. For making capacitors with sufficient energy storage, these are advantageous. 

Furthermore, they are seamless for the capacitors combined into cells, computers, and IoT devices, to which they provide quick and efficient functioning.

In the piezoelectric ceramics market sensors will also experience rapid expansion in the years to come. These ceramics exhibit high sensitivity and accuracy in detecting force, pressure acceleration, and vibrations, making them vital in the aerospace, healthcare and automobile sectors. In applications for example structural health monitoring, process control, and environmental monitoring, these offer trustworthiness and precision.

Therefore, the development of these sectors generates a high requirement for piezoelectric ceramics. The requirement for smartphones, wearable technology, tablets, and other devices is powered by the massive population and growing middle class, making the region the world's leading consumer electronics market. 

To provide front-line functionalities and notable user experiences, these gadgets make heavy use of vibration sensors, capacitive touchscreens, and other components. Due to the rising demand for consumers for smart devices, the requirement for piezoelectric ceramics will continue to grow in the years to come as well.

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Air Brake System Market Will Reach USD 4,079.8 Million By 2030

The global air brake system market has garnered USD 3,021.2 million in revenue in 2023, and it is projected to rise at the rate of 4.7% from 2023 to 2030, to capture USD 4,079.8 million by 2030.

This is mainly because of the wide utilization of such components in heavy commercial automobiles as they offer dependable performance, simultaneous and powerful braking, independence from engine energy, and several other benefits. The fast industrialization and urbanization, combined with an increasing populace, are directing the beginning of construction and building activities on a massive scale. This, ultimately, generates a high need for the transport of raw materials by semi-trailer tractors, and trucks, all of which use this braking technology.

The industry is mainly being propelled by the surge in the making and sale of light- and heavy-duty trucks. Technical progress and the mounting emphasis on growing the making capacity have caused automated assembly lines; therefore, vehicle production endures to boom. Furthermore, as trucks commonly carry heavy masses across mountains, air brakes are essentially combined into them.

Additionally, with the rise in the pace of urbanization, distributing goods in metro metropolises has become a test for vendors. Mainly because of this light-duty trucks are experiencing a significant development in utilization as they are utilized to transport goods in jammed areas. This has made way for motorized component producers worldwide to make better and enduring components, guaranteeing a lengthier life and tougher safety, for light-duty vehicles as well.

In recent years, the drum category dominated the industry with the largest industry share, of 70%, and it is projected to grow with a substantial CAGR, of 4%, during the projection period. This is mainly because of the lesser price of drum brakes than the disc variants.

Furthermore, the latter are easy to manufacture and maintain; this makes it particularly attractive in price-sensitive markets. Moreover, they have been used in different types of vehicles such as cars, trucks, and trailers for a long time. Their adaptability and familiarity are, to a large extent, the driving force for their use in diverse applications.

The APAC region is dominating the air brake system market with a revenue share of 50%, and the region is projected to display a development rate of 5%. This is mainly because it is the residence of a few of the world’s major automotive producers, like Xiamen Kinglong, Tata Motors, Toyota, Zheng Zou Yutong, and Ashok Leyland.

This has made India, China, and Japan 3 of the most protuberant automotive industries in the world. Additionally, APAC holds more than 60% of the worldwide commercial vehicle making. China made a record 3.17 million commercial vehicles in 2022, while the second position is held by Japan produced 1.27 million units.

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Electric Pallet Jack and Stacker Market To Reach USD 7,069 Million by 2030

As stated by a market research institution, P&S Intelligence, the revenue generated by the electric pallet jack and stacker market was USD 4,402 million in 2022, and it will  power at a CAGR of 6.1% by the end of this decade, to touch USD 7,069 million by 2030.

The operator-driven type was the major category, with approximately 90% share of the revenue, in 2022. These kinds of variants are put to use for conveying pallets in a warehouse. The necessity for operator-driven material handling equipment is growing unceasingly to advance competence in logistics and manufacturing facilities. 

The operator-driven category is divided into walkie and ride-on, of which electric walkies was the dominator of the market. 

The above 2,000 kg load capacity will grow at the highest rate in the market. The requirement for these machines is powered by the powerful motors, offering them a considerable lifting capacity of above 2,000 kg. 

Therefore, these pallet jacks and stackers are put to use in industrial and heavy manufacturing industries for lifting heavy loads. This equipment offers more than a few advantages, for example increased efficiency, speed and reduced effort on the part of the operator. Moreover, it offers a strong structure for handling heavy loads and a strong base for stability.

APAC dominated electric pallet jack and stacker market, regarding revenue. The ascendancy of the region on the worldwide market is credited to the high acceptance of industrial automation solutions. 

Moreover, the quick propagation of logistics centers and warehouses in diverse regions is supporting the requirement for these kinds of material handling solutions.

 It is because of the increasing acceptance of latest technologies; the electric jack and stacker sales will continue to increase in the years to come.

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