Growing Popularity of Solar Technology Propelling Demand for Solar Encapsulants

The ballooning requirement for photovoltaic (PV) modules that convert solar energy into electrical energy via solar cells, is boosting the demand for solar encapsulants across the globe. Due to their various benefits such as their ability to offer eco-friendly solutions and economic viability, several countries have augmented their PV module manufacturing capacities. For example, as per the China Photovoltaic Industry Association (CPIA), the solar panel manufacturing capacity of China grew to 48 gigawatts (GW) in 2016.

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Furthermore, the organization estimates the solar panel production capacity of China to rise to 110 gigawatts (GW) by 2020. In the solar energy sector, there have been various research and development (R&D) activities, especially in the domain of solar cell technology regarding improvements in the durability and efficiency of solar cells, during the last few years. This has fueled the development of modern third-generation photovoltaics that have the ability to overcome the current performance and efficiency limits. 

Moreover, the rising technological advancements and energy requirements in the solar photovoltaic module industry have caused a massive fall in the prices of these items over the last few years. Besides these factors, the growing public awareness about the various benefits of solar cell technology is also powering the demand for solar encapsulants all over the world. This is, in turn, driving the progress of the global solar encapsulant market. 

According to the estimates of P&S Intelligence, a market research firm based in India, the solar encapsulant market will demonstrate the highest growth in the Asia-Pacific (APAC) region in the forthcoming years. This will be due to the soaring solar module manufacturing capacity of major solar module manufacturing companies operating in the region. Furthermore, many manufacturers are rapidly shifting their production facilities and plants from Europe to China, because of the rising costs of solar products in the European countries.

Thus, it can be safely concluded that the demand for solar encapsulants will boom all over the world in the coming years, mainly because of the growing usage of solar energy for power generation in various countries.

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Traditional Wound Dressings Being Preferred over Traditional Products

 Diabetes is among the most common chronic diseases and occurs when pancreas is unable to produce the required amount of insulin or when the body is not able to utilize the insulin that is produced. In 2019, the prevalence of diabetes, globally, was 9.3% (463 million people) and is predicted to rise to 10.2% (578 million people) by 2030.  While it has become fairly easy to lead a normal life for diabetic patients, developing a diabetic foot ulcer still remains a major complication. The wound affects about 15% of the people suffering from diabetes and 6% of these are hospitalized because of infection or some other complication.

It is important that the ulcer heals quickly in order to minimize the chance for an infection and, wound dressing products are utilized for taking of the same. Wound dressing makes sure that the infected areas is kept covered and moisture is locked in, thereby facilitating faster healing of wounds. 

Access Report Summary - Wound Dressing Market Global Industry Analysis and Demand Forecast Report

Geographically, North America has been the largest wound dressing market, owing to the growing number of road accidents, surging geriatric population, rising burn cases, and increasing number of diabetes and obesity cases in the region. Apart from this continent, the demand for different wound dressing products is expected to rise considerably in Asia-Pacific during the forecast period. This is because of the growing number road traffic cases, rising ageing population, and surging prevalence of diabetes in the region.

In conclusion, the demand for wound dressing products is being driven by the rising prevalence of diabetes and diabetic foot ulcers around the globe.  

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Demand for Hydrogen Storage Set to Soar in Coming Years

During the last few years, the usage of hydrogen storage increased sharply in the transportation sector. This was because of its high requirement in power fuel cell automobiles, on account of its low cost and high-storage performance. Additionally, as per the estimates of the World Nuclear Association, the requirement for hydrogen for producing transport fuels from crude oil will rise rapidly in the future years. This will, in turn, fuel the demand for hydrogen storage in the coming years.

Additionally, the implementation of strict emission policies in Japan, India, South Korea, and China and the growing requirement for methanol and ammonia are predicted to push up the demand for hydrogen storage throughout the world in the forthcoming years. Lubricant and oil and gas industries are increasingly requiring hydrogen storage technologies, thereby fueling the global demand for the technology. This is subsequently causing the growth of the global hydrogen storage market. 

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According to the forecast of P&S Intelligence, a market research company based in India, the valuation of the market will rise from $426.4 million in 2015 to $991.7 million by 2026. Moreover, the market is predicted to grow at a CAGR of 7.6% from 2016 to 2026. Material-based and physical are the most commonly adopted hydrogen storage technologies. Of these, the demand for the physical hydrogen storage technology was found to be higher in the past years.

Globally, the hydrogen storage market recorded the highest growth in Asia-Pacific (APAC) in the past. The region will also witness rapid expansion of the industry in the future. This will be because of the rising utilization of the methanol made from hydrogen and the growing usage of various environment-friendly transportation fuels in the region. 

Hence, it is safe to say that the requirement for hydrogen storage will shoot-up across the world in the forthcoming years, mainly because of the rising usage of the technology in the transportation, lubricants, and oil and gas industries.

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Why Is Silica Aerogel Used in Insulation Systems?

Silica aerogel is used in thermal insulation systems, as it has the potential to substitute traditional insulation materials like fiberglass, polystyrene foam, cellulose, mineral wool, and polyurethane foam, and the systems made with this synthetic material consume less energy. Silica aerogel with low thermal conductivity offers more benefits than the traditional materials used for thermal insulation. Moreover, its efficiency in transmitting solar radiation increases its importance in the construction industry, and its transparency property makes it suitable for windows and skylights, which are used in buildings, for the insulation process. 

Moreover, surging application of silica aerogel in the oil & gas sector will increase the revenue of the silica aerogel market from $273.0 million in 2015 to a substantial size by 2022. The installation process for this material is easy and quick that reduces the cost incurred by fabricators and installers.   According to P&S Intelligence, the market will showcase a CAGR of 31.1% during forecast period. Furthermore, the high thermal insulation capacity and lightweight feature of silica aerogel have led to its increased usage in the aerospace and defense sectors. 

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Geographically, North America consumed the maximum quantity of silica aerogel in 2015 and the U.S. emerged as the largest consumer in the world. This is due to the comprehensive research and development (R&D) conducted by the National Aeronautics and Space Administration (NASA) on silica aerogel. On account of its exceptional thermal insulation property and lightness, the aerogel was utilized by NASA for the Mars Exploration Rover Mission. The space agency is also working toward curtailing the production cost of silica aerogel to make it viable for commercial purposes.

Thus, the excellent insulation and eco-friendly properties of silica aerogel will increase its application in the coming years.

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Boom Predicted in Ceramic Matrix Composite Sales in Coming Years

Ceramic matrix composites (CMCs) are used extensively in the aerospace industry. This is ascribed to the high strength-to-weight ratio and the excellent mechanical characteristics of these materials. Because of these properties, CMCs are heavily used in power transmission lines, high-speed machine components and parts, helicopter rotor blade sleeves, jet engine fans, and fighter aircraft ventral fins. Moreover, with the surging aircraft manufacturing in several countries, especially in the European countries, the demand for CMCs is skyrocketing across the world. 

As ceramic matrix composites are extremely lightweight and provide stiffness, high strength-to-weight ratio, wear resistance, and durability, they are being extensively used in aircraft manufacturing processes. Additionally, the usage of nano-composites in place of the traditionally used materials not only increases the overall efficiency and reliability of the manufacturing process but also reduces the mass of the aircraft. Apart from being heavily used in the aerospace industry, ceramic matrix composites are also extensively used in the defense sector.

The other major application area of these materials is the energy and power sector. With the mushrooming sales of these materials, the global ceramic matrix composites market is set for rapid expansion in the future years. The valuation of the market is predicted to grow from $1,891.3 million in 2015 to $6,006.1 million by 2024. Furthermore, the market is predicted to progress at a CAGR of 13.7% between 2016 and 2024.

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Globally, the ceramic matrix composites market will exhibit the fastest growth in the Asia-Pacific (APAC) region in the upcoming years, as per the forecast of P&S Intelligence, a market research company based in India. This will be primarily because of the mushrooming requirement for CMCs, on account of the increasing energy consumption, the soaring defense expenditure, and the surging investments being made in several space exploration projects in the emerging economies such as India and China. 

Therefore, it is quite clear that the sales of ceramic matrix composites will boom all over the world in the coming years, primarily because of their rising usage in the aerospace, defense, and automotive industries.

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Rising Sales of Counterfeit Products Fueling Demand for Anti-Counterfeit Packaging Technologies

The increasing concerns being raised many product manufacturing organizations in several countries over the losses incurred due to the sales of counterfeit products are causing a sharp rise in the demand for anti-counterfeit packaging solutions across the world. In addition to this, the concerns being raised by several pharmaceutical organizations over the damages caused due to the usage of spurious products are augmenting the demand for anti-counterfeit packaging technologies around the world. 

Many manufacturers are increasingly adopting these solutions, primarily because of their concerns regarding damage to brand image, on account of the usage of fake and counterfeit products by their customers. Furthermore, the threat of lawsuits, financial losses, and concerns over the health of their customers are making many organizations operating in the chemicals, consumer goods, and food and beverages industries adopt anti-counterfeit packaging solutions. This is, in turn, fueling the advancement of the global anti-counterfeit packaging market. 

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Geographically, the anti-counterfeit packaging market registered the highest growth in North America in the past years, as per the observations of P&S Intelligence, a market research company based in India. This was because of the huge production capacities of organizations working in the food and beverages, clothing and apparels, and pharmaceutical industries in the U.S., Mexico, and Canada. The market is predicted to record the fastest growth in the Asia-Pacific (APAC) region in the future.

Hence, it can be said with full confidence that the demand for anti-counterfeit packaging solutions will explode all over the world in the upcoming years, primarily because of the rising concerns being raised over the sales of counterfeit products by various organizations across different verticals.

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Asia-Pacific Printing Inks Market Set for Prosperity in Coming Years

The Asia-Pacific printing inks market is set for lucrative growth in the coming years. The major factors propelling the advancement of the market are the rising usage of packaged food items and the growing requirement for bio-based products throughout the world. Printing inks are pastes or liquids that contain dyes or pigments and are used for coloring surfaces for producing images, designs, or texts. They are heavily used for coloring various surfaces such as cardboards and newspapers.

Depending on product, the market is divided into gravure inks, lithographic inks, digital inks, letterpress inks, flexographic inks, and others, wherein, the others category includes fluorescent inks, magnetic inks, and metallic inks. Amongst these, the flexographic inks category recorded the highest growth in the market in the past. This was because of the various beneficial traits of these inks such as their ability to support numerous colors and their ability to be used with both oil-based and water-based inks.

During the last few years, regional countries such as Indonesia, China, and India have emerged as some of the biggest printing inks markets in the APAC region. The rapid commercialization and industrialization in these economies have caused a sharp rise in the usage of printing inks, especially in offices. Additionally, the improving living standards of people in these countries are pushing up the demand for food items, which is, in turn, propelling the requirement for printing inks in the region.

Thus, it can be said with certainty that due to the growing requirement for printing inks in various packaging applications, the market will register huge growth in the coming years. 

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