How Is Rising Air Pollution Level Driving Demand for Fatty Acid Esters?

With rampant urbanization and industrialization, the disposable income of people in developed and developing countries is increasing. This is why people are now spending more on things they earlier avoided splurging on, such as cosmetics and personal care products. Additionally, the sale of such products is also rising on account of the increasing appearance consciousness among people, driven by the influence of TV, social media, and fashion and lifestyle magazines. As a result, major companies that offer such products are augmenting their manufacturing output to increase their profit.

According to P&S Intelligence, the rising demand for personal care and cosmetic products will be a key reason behind the growth of the fatty acid esters market to $3,688.9 million in 2030 from $2,240.9 million revenue in 2019, at a 4.6% CAGR between 2020 and 2030. This is because fatty acid esters are vastly utilized in the production of skin creams as a thickener and emollient. Additionally, these chemicals find usage as detergent cleansing agents. The biggest reason fatty acid esters are becoming an important ingredient in the personal care and cosmetic industry is the rising demand for bio-based products.

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In this regard, a key driver for the fatty acid esters market is the use of crude oil derivatives for manufacturing lubricants and powering automobiles. As the burning of crude oil derivatives is the biggest cause of air pollution, the levels of which are continuously rising, governments around the world are implementing policies to adopt cleaner automotive fuels, such as biodiesel, which has fatty acid esters as a key ingredient. Similarly, most of the lubricants available today have a mineral oil base, and due to the rampant exploration and production (E&P) activities, oil reserves are depleting fast, thereby driving the demand for bio-based lubricants.

Hence, with the shift toward bio-based personal care products, cosmetics, automotive fuels, and lubricants, increasing volumes of fatty acid esters will be used around the world.

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What Is Application of Acetic Anhydride in Tobacco Industry?

The global population is on path to reaching 9.7 billion in 2050 from 7.7 billion in 2019, as per the United Nations (UN). Among the hordes of types of products this population boom is leading to the rising demand for are medical drugs. This is because the number of people alive is directly linked to the prevalence of diseases and other problems that call for medical treatment. This is driving the growth of the worldwide pharmaceutical industry, with companies investing both to increase their manufacturing output and look for more-effective and cheaper drugs.

P&S Intelligence says that the rising pharmaceutical production will be a key factor that will propel the acetic anhydride market from $3,476.1 million in 2019 to $4,950.4 million in 2030, at a 2.3% CAGR between 2020 and 2030. This is because the compound, represented chemically as C4H6O3, is used for the production of acetaminophen (paracetamol) and aspirin. These are two of the most-common drugs used to manage fever, reduce pain, and suppress inflammation. With the increasing number of people suffering from these conditions for short or long periods, the demand for these two drugs is rising, thereby driving the consumption of acetic anhydride in the pharmaceutical industry.

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As a result of the growing pharmaceutical and construction sectors, the largest acetic anhydride market in 2019 was Asia-Pacific. Moreover, the World Health Organization says, “Over 80% of the world's 1.3 billion tobacco users live in low- and middle-income countries.”, a lot of which are in APAC. This has been fueling the consumption of acetic anhydride for the production of cellulose acetate, which is important in the tobacco sector. The fastest market growth will be seen in the Middle East and Africa due to the expansion in end-use industries.

Hence, as the booming population pushes up the demand for medical drugs, cigarettes, and houses, the consumption of acetic anhydride will rise.

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Why Is Internet of Things Key Enabler of Smart Home Healthcare Solutions?

 Gone are the days when people had to visit the doctor every time they wanted a consult or get themselves tested for routine stuff, such as heart rate, blood glucose, and blood pressure. With connected devices and the internet of things (IoT), such things can be done at home. Connected devices, such as smartwatches and multiparameter monitors, track several aspects of health and fitness and automatically transmit the data to the doctor via the internet. This way, people don’t even have to visit the doctor to get their lab results analyzed.

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Smart home healthcare solutions are especially useful for older people (65 years and above), 1.5 billion of whom would inhabit the earth by 2030, compared to 703 million in 2019, as per the United Nations. Not only do the elderly suffer from more diseases than younger people, but they are also physically weak, which is why it is not possible for them to make repeated doctor visits. In addition, having their health and fitness parameters monitored and delivered to the doctor right from their home also helps them in saving on healthcare expenditure. 

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Fall detection and prevention, health status monitoring, safety and security monitoring, nutrition/diet monitoring, memory aids, and several other smart home healthcare solutions are available presently. Among these, health status monitoring solutions are the most popular, as these are easy to deploy and give a basic idea of a person’s health. With the increasing consciousness about personal wellbeing, people are increasingly tracking their heart rate, number of steps walked and calories burned, and sleep quality.

Presently, the largest contribution to the smart home healthcare market is made by North America, which boasts a higher per capita income, thereby leading to high sales of such expensive solutions. Moreover, a number of companies offer such solutions in the region, and several new smart home healthcare products are being launched, driven by R&D. Along with North America, the adoption of the concept will increase quickly in Asia-Pacific (APAC), because numerous major consumer electronics companies offer these. In addition, the smartphone penetration, health consciousness, and disposable income are increasing here.

Hence, as more people become aware about the innovative applications of connected devices and smartphones for personal wellbeing, the demand for smart home healthcare solutions will burgeon.

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Why will Demand for Charcoal Briquettes Surge in South Africa in Coming Years?

The rich tradition of barbecue food is one of the main factors responsible for the growing sales of charcoal briquettes in South Africa. The people residing in this country love preparing barbecue food items on their own. During get togethers, parties, and other occasions, people like preparing barbecued food items, especially during the summers. Because of this tradition, the requirement for barbecue fuel such as charcoal briquettes is always high in the country. 

Moreover, the country is one of the most favorite destinations for international tourists in the African continent. As per reports, as many as 10.4 million international travelers generated nearly $6.0 billion revenue from tourism activities in the country in 2019. Therefore, it can be said that the charcoal briquettes are not only used by the locals but they are also hugely popular among travelers, especially those wanting to try barbecue foods. 

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Apart from the aforementioned factors, the reducing prices of the charcoal briquettes are also positively impacting the growth of the South African charcoal briquettes market. People living and working there prefer these materials for cooking over other cooking fuels such as kerosene and liquified petroleum gas (LPG), because of their lower prices. As charcoal briquettes are made using various leftover materials (leftover powder after charcoal production), they cost lesser and are more affordable than the traditionally used cooking fuels.

Out of these, the barbecue category recorded the highest growth in the South African charcoal briquettes market in the past and this trend is likely to continue in the forthcoming years as well, primarily because of the surging tourism activities and the increasing number of international travelers in the country. Tourists come here for experiencing the country’s rich culture, soul-satisfying cuisines, and scenic landscapes. According to South African Tourism, 29.0 million overnight trips were recorded in the country in 2019.

Hence, it can be safely concluded that the demand for charcoal briquettes would surge in South Africa in the upcoming years, mainly because of the ballooning popularity of barbecued food items in the country.

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Booming Tourism Sector Fueling Burgeoning Demand for Facility Management in Kuwait

With the rapid expansion of the hospitality industry, the demand for facility management services is growing explosively in Kuwait. The flourishing tourism sector is generating huge demand for clean premises, which is, in turn, pushing up the requirement for facility management services and solutions in the country. Moreover, the government is launching initiatives and taking measures such as encouraging investments from private players, expanding the capacities of airports, and developing new attractions for boosting the tourism industry.

Besides the aforementioned factor, the surging infrastructural development projects are also fueling the surge in the demand for facility management services in the country. Due to the soaring investments being made in various projects such as those related to processing facilities, oil and gas extraction, malls, and residential units, the requirement for facility management services is rising rapidly in the country. Additionally, many real estate development organizations in Kuwait are rolling out their facility management affiliates.

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Due to the above-mentioned factors, the popularity of facility management services is ballooning in Kuwait. This is fueling the expansion of the Kuwait facility management market. As a result, the market revenue is predicted to increase from $958.2 million in 2019 to $2,057.5 million by 2030. Furthermore, the market is predicted to progress at a CAGR of 8.3% between 2020 and 2030. Based on end user, the market is divided into residential, commercial, and industrial categories.

Out of these, the HVAC maintenance services will demonstrate the fastest growth in the Kuwait facility management market in the forthcoming years, as per the estimates of P&S Intelligence, a market research company based in India. The main factor driving the advancement of the market is the presence of extreme weather conditions in the country that generate a huge demand for the renovation and refurbishment of the existing equipment in the commercial and industrial buildings for enhancing their efficiency. 

Hence, it is safe to say that the demand for facility management services will soar in Kuwait in the future years, primarily because of the rapid expansion of the tourism and hospitality sectors in the country.

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What Are Investment Opportunities in Wind Tower Market?

The strongest factors leading to the growth of the wind tower market are the increasing government support for wind farms, rising capacity of such installations, and surging need for geopolitical energy security and energy independence. As a result, the industry revenue, which stood at $26,140.5 million in 2015, is projected to increase at a 7.4% CAGR during 2016–2022 (forecast period). A wind tower is the main support system for the wind turbine and other components of a windmill, including the generator.

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The tower type segment of the wind tower market is categorized into concrete towers, tubular steel towers, lattice towers, hybrid towers, and guyed pole towers. Among these, the industry was dominated in 2015 by the tubular steel towers category, which will keep holding the largest share till 2022. This is attributed to the cost-effectiveness and strength of these variants. As the tower costs make up for around 30% of the windmills’, having a cost-effective tower is essential to produce electricity cheaply and sell it at reasonable per-unit prices.

A prominent trend in the wind tower market is the opportunities being created for skilled laborers. As the renewable energy sector is growing, an increasing number of people with expertise in civil engineering, electrical engineering, and mechanical engineering are finding employment. Governments and private companies around the world are investing heavy sums in the wind power sector to reduce the rate of environmental degradation and dependence on oil, natural gas, and coal to produce electricity.

In 2015, Asia-Pacific (APAC) was the largest wind tower market as a result of the increasing capacity of wind power plants to cater to the rising demand for electric power. China and India are among the largest wind energy producers on earth, and many more wind power plants are under various stages of commissioning in these countries. The Middle East and Africa (MEA) would grow the fastest during the forecast period due to the lower penetration of wind power here, which will offer market players immense opportunities for expansion.

Hence, the installations of wind towers are set to keep rising, as the focus on renewable energy becomes stronger.

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How Are Eating Habits Impacting Charcoal Usage?

Growing preference for barbecue foods has increased the consumption of charcoal worldwide. This is due to the alteration in taste and preference for new cooking styles. Moreover, application of live barbecue stations at residential households and restaurants for cooking will fuel the growth of the charcoal market in coming years. Furthermore, the application of these stations is rising in developing countries, like India and China, owing to the augmenting preference for grilled and smoked food.

Owing to this changing lifestyle and food preference, the charcoal market size is projected to increase its revenue size from $5,882.8 million in 2018 to $6,566.5 million by 2024. According to P&S Intelligence, the market will progress at a CAGR of 1.9% during 2019–2024. Besides, silicon producers will replace coal with charcoal in the production process to curtail carbon dioxide emission. For instance, companies such as Simcoa Operations Pty. Ltd. and Elkem ASA are already utilizing charcoal to produce silicon and developing technologies to entirely replace coal with charcoal, while keeping the quality intact.

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Due to the widening application base of charcoal, the demand for lump charcoal, charcoal briquettes, and sugar charcoal is escalating in the charcoal market growth. In 2018, lump charcoal was used in the highest volume, as it burns faster, achieves higher temperature, and produces less ash than the other types. Additionally, the adoption of charcoal briquettes is also increasing due to its low ash content and high-calorific value. Further, the application of sugar charcoal will rise in future, due to its usage in the preparation of artificial diamonds.

Thus, the rising preference for barbecue foods and the increasing number of water treatment plants will augment the charcoal market in foreseeable future.

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