How is Growing Demand for Higher Vehicular Safety Boosting Sales of Automotive Adhesives and Sealants?

Automotive adhesives and sealants are rapidly becoming the latest buzzwords in the automotive industry. The mushrooming requirement for luxury vehicles and the rapid incorporation of advanced driver assistance systems in both commercial vehicles and passenger cars are pushing up the demand for automotive adhesives and sealants, especially in North America. Moreover, the ballooning popularity of lightweight vehicles, on account of their high fuel efficiency, is causing a steep rise in the sales of these materials across the world.

Due to the above-mentioned factors, the demand for automotive adhesives and sealants are surging sharply all over the world. This is subsequently fueling the expansion of the global automotive adhesives and sealants market. As a result, the value of the market is predicted to surge from $7,438.2 million in 2019 to $12,646.8 million by 2030. According to various estimates, the market would advance at a CAGR of 7.0% from 2020 to 2030.

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Globally, the automotive adhesives and sealants market would register the fastest growth in Asia-Pacific (APAC) in the future years, as per the forecast of P&S Intelligence, a market research company based in India. This would be due to the surging investments being made by several European automakers for expanding their operations in the Southeast Asian market. Additionally, the soaring disposable income of people in the developing countries will further boost the market advancement in the region in the coming years.

Hence, it is safe to say that the sales of automotive adhesives and sealants would explode all over the world in the coming years, mainly because of the rising demand for lightweight vehicles and the growing requirement for higher vehicular safety.

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Drug of Abuse Testing Market to Grow Considerably Because of Growing Trade of Illicit Drugs

Peer pressure, particularly among young adults and school children, can result in some bad decisions, such as usage of drugs. Drug abuse, also known as substance abuse, is the utilization of certain chemicals for pleasuring the brain, which end up causing more harm than benefits, in the long run. 

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Consumables, such as assay kits & reagents and rapid test kits, and equipment, including breath analyzers, immunoassay analyzers, and chromatography instruments, are utilized for tracking drug abuse. As consumables are easily available for utilization and provide swifter test results as compared to equipment, their demand was higher in the past. Rapid test kits are projected to be in need the most in the coming years, owing to the fact that they are easy to use. Apart from this, the demand for breath analyzers is also expected to grow in the near future, because they can easily detect the presence of alcohol and drugs in the breath and are less expensive than other analyzers.

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When geographical scenario is taken into consideration, North America emerged as the largest drug of abuse testing market in the past, which is ascribed to the growing workplace monitoring activities for the consumption of illicit drugs, increased availability of banned substances, and rising drug trafficking activities in the region. According to the National Institute on Drug Abuse, about 24.6 million Americans aged above 12 years, which is 9.4% of the total population, were using illicit drugs in 2013. In addition to this, Asia-Pacific is also projected to witness a rise in drug of abuse testing in the coming years, because of the growing compliance in organizations to workplace drug of abuse testing.

In conclusion, the demand for drug of abuse testing is rising due to the rising prevalence of drug usage and increased trade of illicit intoxicants.

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Surging Demand for Electronics Devices Boosting Sales of Polyimide Films

The ballooning requirement for flexible, heat resistant, light weight, and compact electronics devices is one of the biggest factors responsible for the growing utilization of polyimide (PI) films in semiconductor component manufacturing processes around the world. According to various industry experts, the expansion in the electronics sector will push up the requirement for PI films all over the world in the coming years. This will be because of the extensive usage of PI films in electronics part manufacturing processes.

Polyimide films consist of polyimide, which is basically a polymer of imide monomer. PI films are famous all over the world for their high chemical and temperature resistance and high dielectric constant. Because of these unique characteristics, PI films are heavily used for manufacturing heat resistant electronics components and parts such as pressure sensitive tapes, wires, and flexible printed circuits (FPC). Due to these factors, the global polyimide films market size is predicted to grow substantially in the future years.

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In the coming years, the market is predicted to exhibit the fastest growth in the APAC region. This will be a result of the rising requirement for electronics devices made from polyimide films in the regional countries. As the semiconductor manufacturing plants and foundries are the biggest end users of these films, the rapid expansion of semiconductor manufacturing plants and foundries in Taiwan, Japan, and China is creating lucrative growth opportunities for the players operating in the industry. 

Hence, it is safe to say that the demand for PI films will skyrocket around the world in the upcoming years, mainly because of their growing requirement in the manufacturing of electronics parts and components and semiconductor component manufacturing processes.

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Road Freight Transportation Market to Witness Growth due to Adoption of Industry 4.0

The transportation of goods from one place to another has always been a matter of importance. People are mostly aware regarding home delivery of things that they order online, however, it is but a miniscule part of road transport or road freight. Goods are transported on a daily basis from industries to wholesale stores or retail stores, or from wholesale to retail stores. This transportation of merchandise and goods via road, using vehicles such as vans or trucks, is referred to as road freight. While goods can now be transferred via air or ocean transport, road transport remains one of the most common ways of delivering goods.

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Road freight is effective, efficient and significantly cheaper than air freight. Swift urbanization and expanding e-commerce sector are among the key factors resulting in the rising demand for road freight. As the spending ability of people and awareness regarding e-commerce services is growing, the need for efficient and faster delivery systems is also increasing. It is because of all these factors, that the global road freight transportation market is projected to progress at a considerable rate in the coming years. Medium & heavy commercial vehicles and light commercial vehicles are utilized for road freight services.

The rapid industrialization and adoption of Industry 4.0 is further resulting in the growing need for road freight. The fourth industrial revolution is characterized by the use of internet of things, artificial intelligence, and connected devices, thereby automating various processes and operations in industries. Industry 4.0 is responsible for low-cost production of quality products at a much faster pace, which is important for catering to the needs of the growing population across the globe. Owing to this growing production of goods, road freight services will come into play for delivering the goods to consumers.

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Hence, the demand for road freight transportation services is growing due to the expanding e-commerce industry and adoption of Industry 4.0.  

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Factory Automation Efforts Propelling Industrial Brakes Market

The industrial brakes market is being driven by the increasing requirement for such devices in a wide range of sectors, which includes construction, manufacturing, oil and gas, and metal and mining. These factors are expected to propel the industry at a 3.0% CAGR during 2019–2024, which will lead to an increase in its size to $1,105.7 million by 2024 from $930.3 million in 2018. These devices are used to control the motion of cranes, packaging machines, wind turbines, construction machinery, metal and mining machines, tube machines, and marine and shipping machines.

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On the basis of industry, the industrial brakes market is classified into metal and mining, manufacturing, power generation, marine and shipping, construction, and others, wherein ‘others’ includes aerospace, military, entertainment, printing, transportation, and oil & gas. Among all these, the manufacturing category dominated the market in 2019 owing to the heavy investments being poured for setting up new manufacturing plants and modernizing the existing ones. Additionally, regulations mandating a safe working environment in factories are being implemented around the world, thereby driving the demand for brakes.

A lucrative opportunity area for the players in the industrial brakes market is the adoption of the industrial internet of things (IIoT). The Industry 4.0 revolution aims for the creation of smart factories with reduced energy consumption and automated operations. Here, brakes equipped with sensors are being used, with the sensors preventing any unauthorized movement of the machine, by leveraging artificial intelligence. Such brakes could also improve the working conditions, such as by stopping the movement of cranes carrying heavy stuff should anyone come below it.

Hence, the growing manufacturing industry due to government initiatives and rising purchasing power of the masses will propel the market for industrial brakes.

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Unprecedented Growth Expected in European Carsharing Market in Future

The presence of favorable government policies and measures in many European countries and cities is one of the important factors responsible for the soaring adoption of carsharing services in Europe. For instance, the Mayor of London announced, in 2018, his plans of building public parking spaces in the city that would significantly reduce the private ownership of cars and facilitate car parking in the city. Similarly, the Mayor of Paris announced, in April 2017, her plans of making the city the first post-car city in the world.

Powered by the above-mentioned factors, the European carsharing market is predicted to register huge growth in the coming years. The most widely used types of cars in the carsharing services in the region are—luxury, executive, and economy class cars. Out of these, the adoption of economy class vehicles was found to be the highest in the carsharing services in Europe in the past. This is mainly credited to the higher fuel efficiency and lower requirement of maintenance services in these cars.

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One of the prominent trends currently being observed in the European carsharing market is the rising deployment of electric vehicles in the carsharing fleets by the carsharing service providing companies in Europe. EVs are being increasingly adopted in carsharing services, on account of the global warming and environmental damage caused by the emissions from the fossil-fuel powered cars. Moreover, the electric cars require lesser maintenance and have lower total cost of ownership (TCO) as compared to the conventionally used vehicles and are thus, being increasingly preferred in carsharing services.

Hence, it can be said with full surety that the demand for carsharing services will shoot-up across Europe in the coming years, owing to the increasing road congestion in several European cities, rising popularity of shared mobility solutions, and the presence of numerous government policies supporting the adoption of carsharing services in the European countries.

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Market Segmentation:

Based on Car Type

• Economy
• Executive
• Luxury

Based on Propulsion

• Electric
• Fuel-Based

Based on Model

• Peer-to-Peer (P2P)
• Round-Trip
• One-Way Trip

Based on Application

• Business
• Private

Geographical Analysis

• Germany
• U.K.
• France
• Italy
• Spain
• Netherlands
• Rest of Europe

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Asia-Pacific to Witness Rapid Expansion in Dye-Sensitized Solar Cells Market in Future

The global dye-sensitized solar cells market size generated a revenue of $28,451.4 thousand in 2017 and is predicted to reach a valuation of $60,589.4 thousand by 2023. Furthermore, the market will grow at a CAGR of 13.2% between 2018 and 2023. The increasing requirement for solar energy and the implementation of strict government regulations in several countries regarding the usage of solar modules are the main factors driving the progress of the market.

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The global demand for sustainable and clean power is rapidly increasing, on account of the rising concerns being raised over the escalating carbon emissions, energy security, and the surging abnormalities in weather conditions around the world. With the signs of climate change becoming more prevalent, many governments are increasingly preferring renewable sources of energy such as solar energy over the conventionally used fossil fuels. Dye-sensitized solar cells have the ability to boost the popularity of solar energy in the future.

Geographically, the dye-sensitized solar cells market would register the fastest growth in the Asia-Pacific (APAC) region in the future years, as per the estimates of P&S Intelligence, a market research company based in India. The rising implementation of strict government regulations is predicted to boost the adoption of renewable sources of energy such as solar in the developing countries such as India, China, Vietnam, and Thailand in the coming years. 

Thus, it is quite clear that the market will record huge expansion across the world in the coming years, mainly because of the rising popularity of solar energy and the increasing implementation of favorable government policies regarding the usage of solar energy for power generation in several countries around the world.

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