Increasing Consumption of Poultry Driving Methionine Market

The global methionine market attained $5,114.3 million in 2017 and is predicted to generate $9,121.9 million by 2023, advancing with a CAGR of 10.2% during 2018–2023 (forecast period). The market is witnessing growth due to the increasing research & development activities by the key players and rising demand for animal feed due to the growing poultry consumption. Methionine is a vital amino acid that cannot be biosynthesized in the animal body and thus is taken externally. It is utilized as a feed additive to increase the productivity of animals. 

On the basis of application, the methionine market is categorized into aquaculture, food processing, pharmaceuticals, animal feed additives, and others. Among these, the category of animal feed additives led the market during the historical period (2013–2017), contributing more than 70.0% and 60.0% sales volume and value, respectively, in 2017. One of the primary reasons for this is the increasing consumption of meat across the globe, which leads to the rising demand for poultry. This is further driving the need for the utilization of the amino acid in animal diet. 

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The surge in poultry consumption is one of the major driving factors of the methionine market. Changing dietary preferences, population growth, and rising income of people are responsible for the surging poultry consumption. According to the global poultry trend statistics, poultry meat consumption is projected to rise by 1.7 kg per person, to 14.9 kg in 2023 from 13.2 kg in 2013. Moreover, as per a research done by the Worldwatch Institute’s Nourishing the Planet Project, meat consumption and production across the world have increased considerably, leading to a rising demand for animal feed additives. 

The escalating demand for methionine in pharmaceutical applications is creating wide opportunities for the players looking to invest in the methionine market. Due to methionine’s therapeutic advantages in the treatment of various diseases, its pharmaceutical application is on the rise. This chemical is extensively used in the preparation of vitamins and liver medicines for treating toxic hepatitis and cirrhosis. The amino acid also helps in the treatment of Parkinson’s disease, asthma, copper poisoning, allergies, and wounds. 

When type is taken into consideration, the methionine market is divided into L-Methionine, DL-Methionine, and methionine hydroxy analog (MHA). The market was dominated by the division of DL-Methionine during the historical period, with more than 60.0% and 55.0% market share in 2017, respectively, in terms of volume and value. The reason for this is the wide application of this type in pharmaceuticals, animal husbandry, and food processing. The highest value CAGR is predicted to be witnessed by the division of MHA during the forecast period. 

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A major trend being observed in the methionine market is the shift toward bio-methionine from synthetic sources. Methionine is majorly derived from petrochemical sources; however, due to the use of hard-to-handle hazardous raw materials, such as carbon disulfide, mercaptan, and hydrogen cyanide, in the synthesis of methionine, biochemical methods are being implemented and researched. Furthermore, the rising demand for bio-based materials because of their environment-friendly nature is resulting in the shifting preference of manufacturers toward these materials from synthetic sources. 

Thus, the market is witnessing considerable growth because of the rising consumption of poultry all around the world and the increasing demand for methionine for pharmaceutical applications.

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Solar Vehicles Industry is Set to Boom in Near Future

The solar powered vehicles market size is expected to witness a notable growth during the forecast period, majorly driven by increased emphasis by governments of various countries to promote environment-friendly vehicles. Moreover, the declining prices of solar panels and technological advancements in the industry would continue to benefit the solar powered vehicles market during the forecast period. Solar powered vehicles use photovoltaic cells to convert solar energy into electrical energy (stored in a battery), to power the vehicle.

On the basis of electric vehicle type, the global solar powered vehicles market is categorized as hybrid electric vehicles and fully electric vehicles. Hybrid electric vehicles use both internal combustion engine (ICE) and battery to propel the vehicle. Full electric vehicles do not have ICE and use only the power generated by battery. The full electric vehicle category would witness faster growth during the forecast period, due to increasing government support for these vehicles in the form of incentives and subsidies.

On the basis of vehicle type, the solar vehicle market is segmented into passenger cars and commercial vehicles. On the basis of type, the market is segmented into three wheelers and four wheelers. The market for four wheelers are expected to witness a faster growth during the forecast period due to increasing adoption of solar panels in passenger cars and buses.

Growth Drivers
The increasing emphasis by the governments of major economies to reduce vehicular pollution is a major driver of the solar powered vehicles market. For example, the European Union targets to reduce carbon dioxide emission by 20% by 2020, from the emission levels recorded in the year 2008. Similarly, many countries have also proposed regulations on motor vehicle fuel efficiency or carbon emission, benefiting the solar powered vehicles market.

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Declining prices of solar panel, which form a major part of solar roof cost, are benefiting the solar powered vehicles market. The prices of solar panels have seen a significant decline over the last decade and the industry participants expect the prices to decline further by 25-27%, by 2022. Apart from this, technological advances by major car companies such as Audi AG would continue to help in faster adoption of solar panels in vehicles during the forecast period, thus benefiting the solar powered vehicles market.

Industry Competitive Analysis
The solar powered vehicles market is at a nascent stage, and is characterized by the presence of many small companies, such as Weifang Guangsheng New Energy Co., Ltd. Some of the key international automotive companies in the market include Ford Motor Company and Toyota Motor Corporation and Audi AG. In 2017, Audi announced its partnership with Alta Devices Inc, to embed solar cells into the roof glass of passenger cars. During the same year, Panasonic Corporation showcased the solar roof (capable of producing 180 Watts of output) for the Toyota Prius Prime, for the Japanese market.

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Smart Home Healthcare Industry Growth Rate and Future Analysis

Surging geriatric population as well as rising demand for personalized healthcare, mHealth technologies and advanced smart home healthcare technologies are taking the smart home healthcare market forward.

Valued in 2017 by P&S Intelligence at $4.5 billion, the domain size is predicted to grow to $30.0 billion by 2023 at a 37.3% CAGR during the forecast period 2018–2023. Smart home healthcare refers to the use of IT-enabled devices at home for healthcare applications, including safety and security monitoring, fall prevention and detection, health status monitoring, memory aid, nutrition/diet monitoring, and others.

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According to the World Population Ageing report published by the United Nations Department of Economic and Social Affairs (UNDESA) in 2017, people above 60 years of age, who numbered 382 million in 1980, increased to 962 million in 2017. Further, it is being estimated that by 20500end, the elderly across the world would number 2.1 billion. With the growing geriatric population, the demand for personalized care at their home is predicted to increase, taking the smart home healthcare market ahead during the forecast period.

Historically, North America contributed the largest revenue to the domain and will continue to do so during the forecast period as well. However, the fastest smart home healthcare market growth is expected in Asia-Pacific (APAC), where it will progress at a CAGR of 41.1%. The reasons for this would be increasing life expectancy and patient base, growing awareness about the advanced applications of such devices and technologies, restructuring of healthcare policies in several countries, and increasing IT investments in the field.


Thus, it is clear that the growing geriatric population will be one of the major factors in the domain prosperity across the world.

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Smart E-Drive Market: Highlights on Future Development

The global smart e-drive market is expected to witness significant growth in the coming years, owing to the implication of stringent governments’ norms and regulations for emissions on the automotive industry across the globe. Additionally, the growing demand for hybrid and electric vehicles, with an objective to reduce carbon emission is another reason, which is anticipated to propel the market growth. Furthermore, advancement of truck platooning and integrated mobility solutions, which are probable to use the hybrid and electric automobiles for ideal functioning, are expected to boost the demand for smart e-drive systems.

Among all categories based on drive type, all-wheel drive (AWD) is the leading category and is anticipated to continue dominating this segment during the forecast period, owing to its advantages, which include benefits of both front-wheel drive (FWD) and rear-wheel drive (RWD). Additionally, growing demand for better traction, acceleration, and towing capabilities in vehicles has fueled the demand for sport-utility vehicles (SUVs) and multi-utility vehicles (MUVs) equipped with AWD drivetrain, globally. Furthermore, rising demand for electric and hybrid SUVs and MUVs, the AWD category is expected to dominate the smart e-drive market in the coming years.

Smart E-Drive Market

Geographically, the market is classified into North America, Europe, Asia-Pacific, and Rest of the World (RoW). The European region is expected to dominate the smart e-drive market during the forecast period. The reasons being the strict environmental norms and regulations by the European Union Commission, and thus increasing the demand for hybrid and electric vehicles, resulting in the growth of the market in the region. Also, the presence of established original equipment manufacturers (OEMs) such as Robert Bosch GmbH, ZF Friedrichshafen AG, Continental AG, and others, and rapid expansion of charging infrastructure are acting as the driving forces for the market.

Key growth drivers in the global smart e-drive market are strict norms and regulations by governments across the globe, cost benefits in terms of declining battery price, and improved vehicle efficiency and fuel economy. The adoption of greener energy pertaining to the current environmental scenario also contributes to drive the growth of the market. The demand for electric and hybrid vehicles is increasing, which is primarily fueled by stringent governments’ rules and regulations, subsidies, tax refunds, and grants. In 2017, more than one million electric vehicles were sold, increased the total number of electric and plug-in hybrid cars on roads to more than 3 million, which grew by 54% as compared to the sales in 2016. The growing sales of environment-friendly vehicles will boost the market for smart e-drive systems during the forecast period.

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There are few established players operating in the smart e-drive market. For a new entrant, it is difficult to make its place in the industry, owing to the domination of the established players and high research and development cost. Some of the key players in the market are Magna International Inc., Robert Bosch GmbH, GKN plc, Hitachi Ltd., Hyundai Mobis Co. Ltd., Continental AG, Siemens AG, Schaeffler AG, ZF Friedrichshafen AG, MAHLE GmbH, BorgWarner Inc., Infineon Technologies AG, and AISIN SEIKI Co. Ltd.

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India Electric Rickshaw Charger Market Competition Analysis and Growth Forecast to 2024

Large-scale adoption of electric rickshaws for public transportation across the country is offering ample growth opportunities to the players operating in the Indian electric rickshaw charger market. These low-cost electric rickshaws are a cost-effective and easy mode of transportation for the price-sensitive Indian consumers, and this factor continues to drive the adoption of these rickshaws, further supporting the growth of the market in the country.

On the basis of type, the Indian electric rickshaw charger market is categorized into portable charger and fixed charger. Between the two, portable charger is expected to witness faster growth in demand in the forecast period 2019–2024. Portable chargers work as an alternative to charging stations and allow anytime, anywhere charging, thus gaining popularity owing to the factor of convenience associated with them.

Delhi is the largest market for electric rickshaw chargers in India, and this can be mainly ascribed to the early and wide adoption of electric rickshaws in the city. Delhi ranks among the worst cities in terms of heat-trapping and toxic emissions. Moreover, high population and vehicle usage has made Delhi one of the largest contributors of emissions in India. Since electric rickshaws are an eco-friendly and convenient mode of transport, they have increasingly been adopted in the capital in recent years, which, in turn, has contributed to the demand for electric rickshaw chargers.

However, Uttar Pradesh is expected to hold the largest share in the Indian electric rickshaw charger market during the forecast period, mainly due to the increasing demand for electric rickshaws from the rural–urban fringes, Tier-1 cities, and Tier-2 cities in the state.

One of the major drivers for the Indian electric rickshaw charger market is the growing number of electric rickshaws on Indian roads. Electric rickshaws have gained traction in India in recent times, on account of their lower cost of operation than conventional auto rickshaws and additional advantages over cycle rickshaws. In addition, the Indian government has taken several initiatives in the form of incentives to encourage the adoption of these vehicles. The electric rickshaw market witnessed triple-digit growth in the historical period, mainly ascribed to environmental policies and incentive plans executed by the government, which resulted in the high adoption of these rickshaws in the country.

Furthermore, major automotive players such as Mahindra & Mahindra Limited and Hero Electric Vehicles Pvt. Ltd. have entered the electric rickshaw market in recent years and more such players are expected to enter the market in the coming years, owing to the high growth potential in the market. This, subsequently, is expected to contribute to the growth in demand for chargers, further supporting the Indian electric rickshaw charger market.

Some of the major players operating in the Indian electric rickshaw charger market are Axiom EV Products Private Limited, Krishna Enterprises, Fujiyama Power Systems Private Limited, Rayon Engineers, Mac Auto India, Lzen Electronics India, and KLB Komaki Private Limited.

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Automotive Wrap Films Market Witnessing Robust Growth - Automotive Trend

The global automotive wrap films market is projected to grow at a significant rate during the forecast period (2020–2030). The market growth is primarily driven by the growing need to provide protection to passengers from harmful solar radiation and up surging demand for mobile advertising. Furthermore, these wrap films also protect vehicle’s interior from deteriorating and fading, and prevent the glass from breaking during accident. Such factors boost the growth of the market.
Based on film type, the automotive wrap films market is categorized into window films, wrap films, and paint protection films. Among these, window films dominated the market during the historical period (2014–2019). These films are used in vehicle as they block up to 80–85% of solar radiation from entering the vehicle, resulting in temperature reduction inside the vehicle. Furthermore, these films also improve the security and safety of an automobile.

In terms of vehicle type, the automotive wrap films market is divided into passenger vehicle and commercial vehicle. Of these, the demand for automotive wrap films in commercial vehicle category is expected to grow significantly during the forecast period, owing to high replacement rate of these films in commercial vehicles, due to their considerable surface areas. Furthermore, due to their ability to reach a wider audience, light commercial vehicles and buses are largely preferred by advertising companies for product promotions. This will further boost the growth of the automotive wrap films industry.

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When segmented on the basis of sales channel, the automotive wrap films market is classified into original equipment manufacturer (OEM) and aftermarket. Between the two, the aftermarket category is projected to grow at a faster pace during 2020–2030. The increasing demand for custom solutions and availability of several wrap film producers that offer reliable services are some major factors propelling the growth of the market in this category.

Geographically, Asia-Pacific (APAC) holds a significant share in the automotive wrap films market. This is due to the fact that APAC is the largest market for passenger cars and commercial vehicles across the globe. Furthermore, the regional market is projected to grow substantially during the forecast period. Rising living standards, increasing demand for vehicle customization, and existence of major vehicle manufacturers are the factors driving the growth of the wrap films industry in the region.

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The growing demand for personalized cars and change in lifestyle of customers are some factors that are expected to have a positive impact on the growth of the automotive wrap films market. Furthermore, increasing demand for wrap advertising, owing to cost effectiveness, also accounts for the rapid growth of the market. Commercial vehicles, such as large vans and buses, which are used for tourism, also use wrap films for advertising and promotions. These films protect original paint from wearing and chipping and also enhance the look of vehicles. The requirement for protecting the original paint of automobiles for an extended time period is further spurring the demand for these films.

Major players operating in the global automotive wrap films market include Eastman Chemical Company, 3M Company, Avery Dennison Corporation, LINTEC Corporation, Saint-Gobain Performance Plastics Corporation, Arlon Graphics LLC, and Hexis UK Ltd.

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How is Growth in Global Air Conditioner and Refrigerator Markets Driving Insulation Market?

The global air conditioner and refrigerator markets are witnessing significant growth, majorly because of the increasing demand for these systems from countries such as China and India. Moreover, due to global warming, the need for energy efficient heating, ventilation, and conditioning (HVAC) equipment is also surging. The energy efficiency of HVAC systems is determined by the amount of energy that is being consumed for the desired level of heating or cooling; hence the lesser the energy consumed, the higher the efficiency of the appliance. In order to reduce the consumption of energy by enhancing the efficiency of insulation materials utilized in heating and cooling systems, various technological advancements are being undertaken. 

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The rising requirement for insulating materials for residential and industrial applications is a key driving factor of the insulation market. Over the past few years, the U.S. has registered a significant growth in the demand for housing, which has resulted in the increased residential construction activities. A similar situation is being witnessed in European countries, which are recovering from the negative economic growth. All these residential projects are creating a high demand for insulating materials in order to save energy costs. Moreover, insulation products are utilized in industries for thermal and acoustic insulation. Most of the industries and manufacturing units today need insulation for cost-effective operations. 

The process of insulation refers to the prevention of flow of sound, heat, or electricity, either from or into a building, by making use of non-conducting material. As per a study conducted by P&S Intelligence, in 2017, the global insulation market reached a value of $52,296.0 million and is predicted to grow at an 8.6% CAGR during the forecast period (2018–2025). The primary products utilized for providing insulation are mineral wool, expanded polystyrene (EPS), glass wool, and extruded polystyrene (XPS). Some other insulating products include calcium silicate, cellular glass, melamine foam, polyethylene, aerogel, calcium-magnesium-silicate fibers, perlite, expanded rubber, and spray foam. 

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Among all the insulation products, the largest demand was created for glass wool during 2014–2017. Glass wool is a thermal insulator comprising knotted and flexible glass fibers that traps the air inside, resulting in low density. The insulator is made up of sand and has acoustic and thermal insulation properties, in addition to low weight and high tensile strength. During the forecast period, however, the largest demand is projected to be created for EPS. This is ascribed to its extensive usage in several thermal and acoustic applications due to its various properties including fire resistance, durability, light weight, and ease of recycling. 

The different application areas of insulators are non-residential construction, residential construction, and HVAC, industrial, and original equipment manufacturers (OEM). Out of these, the largest demand for insulating materials was created for residential construction applications during 2014–2017. This is attributed to the large-scale utilization of various insulating products in construction activities, which are increasing at a high rate due to the surging population and rising income of people around the globe. The fastest growth in demand for insulators is expected to be created for the industrial, HVAC, and OEM application. 

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