Rising Product Demand from Oil & Gas Industry Driving Metering Pump Market Growth Globally

In 2018, the global metering pump market generated a revenue of $4.2 billion and is projected to witness a 6.0% CAGR during the forecast period (2019–2024). The market is growing due to the rising demand from the oil & gas industry, strict government regulations regarding water treatment, and growing demand from the chemical industry.

A metering pump is utilized for moving precise volumes of fluids (chemicals, solutions, and water) in a specified period of time and at an adjustable volumetric flow rate.

When type is taken into consideration, the metering pump market is divided into piston, diaphragm, and others (which include peristaltic pumps and syringe pumps). Out of these, the largest share of the market was occupied by diaphragm pumps during the historical period (2014–2018), both in terms of value and volume.

The division is further bifurcated into metallic and polytetrafluoroethylene (PTFE). The category of PTFE is predicted to hold the larger share of the market and grow at the faster pace during the forecast period, as PTFE pumps are cheaper than metallic pumps.

On the basis of end user, this market is categorized into petrochemicals, chemical processing, pharmaceuticals, pulp & paper, water treatment, oil & gas, food & beverage, and others (which include mining, construction, textiles, and agriculture).

Based on region, the metering pump market is categorized into Europe, Latin America, Asia-Pacific (APAC), Middle East & Africa, and North America. During the historical period (2014–2018), the largest share in the market, in terms of revenue, was accumulated by the APAC region

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Among these, the water treatment category accounted for the major share of the market during the historical period and is further predicted to retain its position during the forecast period. Metering pumps are utilized in wastewater treatment and municipal drinking water treatment applications for making water suitable for disposal or reuse.

Therefore, the market for metering pumps is headed toward a bright future due to the increasing exploration activities for CBM and oil & gas.

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Growing Smartphone Penetration Accelerating Organic Light-Emitting Diode (OLED) Market Advance

Surging disposable income, increasing sales of smartphones, and rising demand for organic light-emitting diode (OLED) materials from the automotive industry are the key factors driving the growth of the OLED materials market. In 2016, the market generated a revenue of $6,000.0 million, and it is predicted to progress at a CAGR of 24.5% during the forecast period (2017–2023). OLED consists of an emissive electroluminescent layer, including an organic compound film, which emits light in reply to an electric current. 

On the basis of type, the OLED materials market is categorized into electron transport layer (ETL), cathode, hole injection layer (HIL), emissive layer (EML), substrates, and encapsulation. Out of these, in 2016, the substrates category held the largest revenue share of more than 25.0% in the market, and it is predicted to continue leading it during the forecast period. Owing to their easy availability, these are the most preferred diodes in semiconductor foundries. Substrates are electrical insulators and semiconductors used in diodes and transistors. 

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Based on application, the OLED materials market is bifurcated into lighting and display. Of the two, in 2016, the display application made a revenue contribution exceeding 90.0% to the market, and it is anticipated to dominate it during 2017–2023 as well. This is ascribed to the rising manufacturing of television and smartphone displays. The display application is further classified into smartphones, automotive, notebooks and tablets, and television and monitors, among which the smartphones classification led the market, owing to the increasing use of such devices among young and aged people. 

The OLED technology is speedily evolving, and the enhancements have improved the display screen in TVs, cameras, and mobile phones. Growing usage of OLED materials in smartphones is augmenting the OLED materials market growth. As per industry professionals, in 2017, the global smartphone shipments showed an increase of 3.7% in the first quarter. Brands from China such as Huawei, OPPO, and Vivo had already earned a significant market share with considerable growth in 2017. This was due to their ability to offer low-priced products, particularly for India and other developing markets. 

OLED is a lighting and display technology used to produce thin, efficient, and bright lighting panels and displays. OLEDs are transparent and flexible, and thus have a wide application range. In the automotive sector, OLED displays are integrated in internal and external lighting, dashboard and heads up displays, and digital rear-view internal mirrors. One of the challenges faced by the automotive sector with respect to OLED displays is their inhibited ability to withstand heat, humidity, cold, constant vibration, and UV radiation, to which hermetically encapsulated OLEDs offer a reliable solution. 

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Further, the rising disposable income is another factor boosting the OLED materials market. In the past few years, in China, the disposable income has risen by a considerable amount. A higher consumer income leads to increasing spending on leisure, entertainment activities, and electronic devices, such as laptops, smartphones, tablets, and gaming consoles. Further, the growing awareness on internet and smartphone usage is boosting the sales of such consumer electronics. Thus, the increasing popularity of smartphones is anticipated to escalate the consumption of OLED materials, thereby resulting in the market progress during the forecast period. 

Therefore, the accelerating sales of smartphones, rising demand for OLED materials in different products, and extensive OLED application in the automotive sector are predicted to strengthen the market.

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Rising Inclination of Government Toward Digital Transformation Driving Government Cloud Market

The global government cloud market generated a revenue of $20.8 billion and is expected to register a 15.4% CAGR during the forecast period (2017–2023). The market is growing due to the increasing inclination of government toward digital transformation, reduction in total cost of ownership (TCO), and government cloud enabling improved agility and adaptability. The advanced cloud computing solutions which are majorly developed for government organizations and institutions are referred to as government cloud. The solutions focus on the hosting of critical and bulk agency’s data onto cloud. 

When product is taken into consideration, the government cloud market is bifurcated into service and product. Between these two, the market was dominated by the product classification during the historical period (2013–2016). In terms of product, the market is divided into disaster recovery (DR), risk & compliance (RCM), storage, identity & access management (IAM), and others (which include work load management and security). The storage division held the largest share of the market during the historical and is predicted to dominate the market during the forecast period. The increased reduction in TCO is a major driving factor of the government cloud market. The government sector is always under intense pressure to cut down capital expenditure without undercutting critical public services. Factors such as labor optimization, measured services, asset utilization, and facilities consolidation are the major aspects due to which different agencies are adopting government cloud. Government institutions are being attracted toward cloud computing by estimating the total savings that comes from consolidating their data centers.

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The rising government inclination toward digital transformation is another factor driving the growth of the government cloud market. The ongoing trend of digital transformation has positively impacted the government sector for adopting new cloud computing technologies. For example, the Obama administration’s “Cloud First” initiative kicked off the mainstream implementation of government cloud, which has further attracted other central/federal agencies to opt for digital solutions and ramp up their traditional data centers. Hence, the effort for streamlining government’s inefficient technology infrastructure is creating huge demand for government specific cloud offerings in the last few years.

A key trend being observed in the government cloud market is the surging big data in the government industry. Big data in the government sector facilitates effective decision making with enhanced administration. Huge amount of public data is being generated on a daily basis due to the surging population around the world and the digital transformation of the government industry. By making use of this big data, governments can enable breakthroughs in several management programs, where they can use the best available public information and modify or update citizen welfare policies as per data patterns.

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Rising Water Contamination Leading to the Growth of the Flocculants and Coagulants Market

Rising water pollution levels and increasing incidents of water-borne diseases are driving the growth of the flocculants and coagulants market. Globally, the market is expected to reach $14,225.3 million by 2023, providing huge opportunities to manufacturers and suppliers of flocculants and coagulants. Coagulants destabilize a colloid by neutralizing the charged particles. On the other hand, flocculants bring these destabilized particles together, so these form a lump or floc that can be easily removed from water. These are the two categories of the domain when segmented by type. 

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The problem of water pollution is as old as human existence itself. We need water for every basic life process, from drinking, cooking, and agriculture to bathing and washing. However, almost every water source available today is contaminated, especially in developing countries. This is the reason water and sewage treatment has become the need of the hour. Consequently, the flocculants and coagulants market has grown rapidly around the world. Both these substances recorded almost equal sales across the world in 2017, with flocculants edging out coagulants. The forecast period 2018–2023 is expected to display the same trend. 

The APAC utilizes flocculants and coagulants more than other regions owing to an acute water pollution problem. The difference in the 2017 sales of these substances in APAC and North America was over 1500 kilotons, hinting that the flocculants and coagulants market has prospered more in developing countries. The consumption of these materials in the APAC region in the coming years is slated to be almost triple compared to North America! A reason for this is the shift from simple chemicals like alum to more advanced substances, as these are better at the process and also more cost-effective. 

Another factor that cannot be ignored is the rise in the occurrence and awareness about waterborne disease. As most water sources in the APAC countries are contaminated, the demand for flocculants and coagulants for water treatment is increasing rapidly. Although the availability of alternative technologies, such as UV irradiation and membrane filtration, might impede the growth of the flocculants and coagulants market to some extent, these are rather expensive and quite complicated to use. 

Countries going through industrialization will offer huge opportunities to the flocculants and coagulants market players, as more industries mean more effluents being discharged into rivers and seas. Players are already preparing to deal with the demand surge by acquiring or merging with related firms, expanding their manufacturing capacities and coming up with more effective substances. For instance, Akzo Nobel N.V. and Evonik Industries AG entered into a joint venture in 2018 to increase their potassium hydroxide and chlorine production exponentially. 

With an unceasing surge in population and industrialization and the consequent rise in demand for clean water, the size of the industry is only slated to grow.

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Electric Car Witnessing Robust Growth in Asian Region

The Asia-Pacific electric car market is dominated by China with Japan being a distant second. This is followed by South Korea and India. The overall share of electric cars in the total car sales in Asia-Pacific region is negligible. Small cars account for a significant share of electric cars market in Asia-Pacific due to low prices of these cars and cost sensitive buying behaviour of customers in this region. The electric car market in Asia-Pacific is expected to show a significant growth over the next decade driven by government support, rising income levels and increasing environmental awareness. Current high price of electric car, underdeveloped infrastructure and uncertain political environment are some of the challenges for this market.

Rising environmental awareness and government support are expected to drive the Asia-Pacific electric cars market. Economies in this region are reducing their dependence on costly fossil fuel by promoting electric cars. For instance, India plans to replace all cars by electric ones by 2030. China is offering considerable subsidy on electric cars depending upon the battery size. Rising environmental awareness among people is also benefiting the sales of these cars in Asia-Pacific.

Rising income levels and increasing urbanisation in the emerging economies in Asia-Pacific is a strong growth driver for the electric car market. In emerging economies such as India and China, the car penetration is still less compared to the developed countries. Rising income levels and aspirations to own a car would open opportunities for electric car companies in these countries. The electric car market growth in Asia-Pacific would be faster than North America and Europe, as companies would not have to wait for the conventional cars to be replaced by the electric ones. Due to current low penetration of cars in Asia-Pacific, many first-time owners of a car would opt for an electric car.

A typical car customer in major economies, such as India and China, is highly cost sensitive. Even though the running cost of an electric car is low (6kms per 1KWh), it is the high battery cost, which increases the upfront or showroom price of electric car, making owning expensive for an average customer. High upfront cost of an electric cars could slow down its sales in the region. However, declining prices of lithium-ion batteries over the last few years is a positive sign for the Asia-Pacific electric car market.

A considerable number of players are operating in the Asia-Pacific electric car market. These players can be broadly divided into two categories. The local Chinese players (such as BYD, BAIC and Dongfen) whose sales are mostly restricted to China and the global international companies (such as Nissan and General Motors) which are present in the many countries in the region including China. Due to the dominance of China in total sales, the local Chinese manufacturers together constitute a considerable share in the global sales.

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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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