Why Does Automotive Industry Require Polypropylene?

PlasticsEurope estimates the global plastic production in 2018 at 359 million tons, of which polypropylene (PP) accounted for 19.3%, the largest share. This highly versatile plastic is used for manufacturing lightweight sports equipment, tote bags, cold- and hot-weather clothing, flip-flops, surgical sutures, medical tools, containers, and equipment; domestic-use products, toys, and even furniture. Such a wide application base of PP is owed to its wear & tear, heat, oil & solvent, microbe, and water resistance and a high melting point.

As per P&S Intelligence, due to such an expansive usage base of PP, the polypropylene market will likely grow from $122.7 billion in 2019 to $226.8 billion in 2030, at a 5.7% CAGR during 2020–2030 (forecast period). Apart from those mentioned above, a prominent application area of PP is in flexible and rigid packaging, the demand for which is growing with the booming population. In addition, the increasing number of one-person households, rapid urbanization, busy schedules, and rising demand for wellness and health products is pushing up the demand for packaging.

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In 2019, Asia-Pacific dominated the polypropylene market, and it is also expected to witness the fastest growth during the forecast period. This is attributed to the increasing number of manufacturing plants and advancements in rigid and flexible packaging materials. Due to the expanding end-use industries, such as consumer & institutional, packaging, furniture & furnishings, transportation, machinery, building & construction, and electrical & electronics, regional PP producers, including Reliance Industries Limited, China Petroleum & Chemical Corporation, and PetroChina Company Limited, are prospering.

Hence, as the rising population pushes up the demand for plastic products, the consumption of PP will continue to surge across the globe.

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Artificial Disc Market to Witness Robust Growth in Coming Years

The number of people above 60 years of age is predicted to grow from 901 million in 2015 to 1.4 billion in 2030, as per the United Nations. One of the most common effects of aging is the decrease in the bone mass, which causes diseases such as osteoporosis or vertebral column deformity. The latter mostly happens due to functional issues in the intervertebral discs, which allow the backbone to bend slightly and absorb shock. In the event of a deformity, the natural discs need to be replaced by artificial ones via surgery, thereby allowing people to regain some degree of forward and backward bending movement.

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Another reason for the rising popularity of disc replacement is its long-term cost benefits compared to spinal fusion. Though the former procedure has more upfront costs than the latter, it has no requirement for follow up surgeries, unlike spinal fusion. According to a recent study by the Texas Back Institute and Rothman Institute, over a 48-month period, the cost of disc replacement is $5,000 less than spinal fusion. This is making the former more preferred among patients, thereby leading to the growing demand for artificial discs.

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The popularity of advanced surgical methods is also being positively influenced by the increasing healthcare expenditure by the government of numerous nations. The World Bank reported an average rise in the worldwide healthcare expenditure, from 9.5% of the gross domestic product (GDP) in 2010, to 9.9% in 2014. With more funds, voluntary health associations, research institutions, and local and central government bodies are increasing the investments in medical research and development (R&D), which is leading to the development of more-effective spinal corrective procedures.

North America recorded the highest usage of artificial discs during 2014–2017, and the situation is predicted to be the same in the near future. The reason behind this is that many devices are being tested in clinical trials, and a number of them are predicted to be approved by the FDA soon. The high per capita income in the region allows patients to afford the expensive disc replacement procedures. Within the region, the artificial disc market growth in the U.S. would be faster, as its per capita income and population is significantly higher than Canada, and the awareness regarding the procedure is also surging rapidly here.

Hence, the usage of artificial discs would continue growing as the geriatric population increases and more people suffer from degenerative spine disorders in the coming years.

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How Is Specialty Chemicals Market Getting Boost from Developing Nations?

Driving forces such as the widening application base of specialty chemicals, escalating need for an improved crop quality, and rapid industrialization will accelerate the specialty chemicals market growth at a CAGR of 5.5% during the forecast period (2020–2030). The market generated $639,935.8 million in 2019, and it is expected to value $980,423.7 million by 2030. The demand for these chemicals will be driven by the growing automobile, textile, and food and beverage industries, especially in developing countries.

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Specialty chemicals are used as additives to generate the desired effect in substances and end products. These chemicals have diverse features and are compatible with other chemicals. Owing to these properties, they find wide application in various end-use industries. For example, the automobile sector uses specialty chemicals as fuel additives to improve the properties of the fuel. Similarly, methyl oleate, a specialty chemical, is used as an active pharmaceutical ingredient in a variety of creams and lotions.

The presence of numerous players, such as Evonik Industries AG, BASF SE, China Petroleum and Chemical Corporation, Dow Inc., Henkel AG & Co. KGaA, Akzo Nobel N.V., Mitsubishi Chemical Corporation, Huntsman Corporation, and Clariant International Limited, gives a fragmented character to the specialty chemicals market. These players are expanding the capacity of their manufacturing facilities to gain a competitive edge. For instance, in December 2019, BASF SE announced its plans to expand its facility in Jiangmen, Guangdong Province, China, and invest in its coating business in Asia.

Thus, the growth of the end-use industries in developing countries and a wide application base of specialty chemicals will propel the market advance in the coming years.

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Flourishing Automotive Industry Fueling Sales of Industrial Aerosols in India

Due to their rising requirement in the automotive sector, the sales of industrial aerosols are rising sharply in India. Industrial aerosols are used extensively in the automotive sector in various applications such as engine degreasing, vehicle polishing, friction and wear reduction, and lubrication. The mushrooming sales of vehicles in the country are predicted to cause surge in the automotive aftermarket in the future years, which will, in turn, push up the requirement for industrial aerosols.

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These materials are also used in automobiles for various painting and maintenance purposes. Apart from the thriving automotive industry, the rapidly expanding manufacturing sector in the country is also positively impacting the demand for industrial aerosols. This is because industrial aerosols are used heavily for tool cleaning and degreasing and the maintenance of factory machinery in the country. This, in turn, allows factories and manufacturing facilities to maintain their optimum production volumes. 

Depending on cleaning application, the Indian industrial aerosols market is divided into engine cleaners, tire cleaners, electronics, and carpet cleaners. Amongst these, the engine cleaners category recorded the highest growth in the market during the last few years. This was because of the huge requirement for engine cleaners in various automotive engine components and industrial machinery. Furthermore, aerosol cleaners have a powerful stream that eliminates grease, grime, oil, and dirt without causing the dissembling of the engine.

Hence, it is safe to say that the demand for industrial aerosols will explode in the country in the upcoming years, mainly because of their growing requirement in the automotive and manufacturing sectors.

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How Are Data Centers Fueling Diesel Genset Market Growth?

The diesel genset market is expected to grow at a CAGR of 6.0% during the forecast period (2020–2030), due to the surging demand for stationery and emergency power backup across industries such as marine, manufacturing, oil and gas, automotive, telecom, healthcare, and construction. The market generated revenue of $13,773 million in 2019 and it is expected to generate $21,929.9 million by 2030. Moreover, the escalating number of data centers, owing to the largescale creation and consumption of data, will propel the diesel genset market growth in the coming years.

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Hyperscale creation and consumption of data has led to the establishment of numerous data centers, as supportive infrastructure, to analyze and store the data. Additionally, factors such as developments of intelligent personal assistants and autonomous cars and widening application of technologies, including cloud computing and internet of things (IoT), and digital currencies, will lead to the creation of a large number of data centers. This would, therefore, propel the demand for diesel gensets to serve prime and auxiliary power requirements at the data centers.

Geographically, the Asia-Pacific diesel genset market accounted for the largest share in 2019, due to the large number of installation of low-power gensets in telecom towers, rise in construction activities, and largescale adoption of these systems in the residential and commercial industries in the region. Furthermore, the regional market is expected to display lucrative growth in the forecast period, on account of the escalating investments in telecom infrastructure, surging demand for backup power in residential units, and growing manufacturing sector in APAC nations.

Thus, the uncertainties in power supply and the development of data centers will propel the market growth in the coming years.

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Growing Urbanization Fueling Worldwide Sales of Centrifugal Water Pumps

The rising urbanization rate in several countries is fueling the demand for centrifugal water pumps across the world. For instance, in India, the urban population is predicted to rise to 404 million by 2050. Similarly, in China, the population of people living in urban areas is predicted to increase to 292 million by 2050. This growth in urban population will generate pressure on the already existing water supply network and infrastructure, that includes wastewater treatment facilities and utility water supply. 

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This is making several governments in Africa and Asia implement drinking water schemes and increase their irrigation spending. Moreover, there has been a sharp rise in the usage of water pumps during the past few years, especially in the urban households. The lifestyles of the people living in the urban areas is very modern and fast-paced as compared to the lifestyles of the rural people. Urban people mainly use water pumps for operating jacuzzi, shower panels, and bathtubs.

This is augmenting the requirement for water pumps that can offer high efficiency and capacity. Additionally, the governments of many countries are implementing policies that are making water recycling and reusing necessary for commercial enterprises. Apart from this, the rapid expansion of the construction industry is also positively impacting the global demand for centrifugal water pumps. Due to these factors, the global centrifugal water pump market is recording huge expansion.

Hence, it can be safely said that the demand for centrifugal water pumps will shoot-up across the world in the coming years, mainly because of the rising urbanization and the increasing water scarcity in several countries.

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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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