How Is Paints and Coatings Industry Steering Crotonic Acid Market Growth?

The increasing consumption of crotonic-acid-based dispersions in paints, coatings, and adhesives will steer the crotonic acid market at a CAGR of 7.9% during the forecast period (2021–2025). Adhesives containing this acid offer rapid solidification, owing to which their application has significantly surged in high-speed manufacturing lines, such as those of packaging and textiles. The soaring demand for these adhesives will propel the market to $853.7 million by 2025 from $592.0 million in 2020.

Another key factor driving the market is the spurring demand for paints and coatings. This acid is a vital ingredient of these products as it can form copolymers when blended with other chemical compounds. Additionally, when the crotonic acid monomer is copolymerized with other compounds, it results in a thickener, which is applied in the manufacturing of glossy emulsion paints. These paints offer extra glow and protection to the interiors and exteriors of buildings. Thus, the soaring demand for glossy emulsion paints will facilitate market growth in the forecast years.

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Further, the end user segment of the crotonic acid market is categorized into chemical, pharmaceutical, paints and coatings, automobile, packaging, textile, and electronics. Among these, the paints and coatings category held the largest market share in 2020, and it is expected to register the fastest growth in the forecast years. This can be owed to the exponential use of crotonic-acid-based binders in paints and coatings to hold the pigments in place by binding them and form a coating layer. The spiking demand for paints and coatings from the automotive, packaging, and construction sectors will fuel the growth of this category.

Globally, China dominated the crotonic acid market during the historical period (2016–2020), and it is expected to reflect the same trend in the forecast years. Additionally, the Chinese market is also projected to demonstrate the fastest growth throughout the forecast period. This can be ascribed to the magnifying demand for adhesives and paints and coatings for the repair and renovation of residential and commercial buildings. Moreover, the growing application of crotonic acid as a plasticizer, fungicide, and intermediary in the chemical, agriculture, and pharmaceutical industries will boost the market growth in China.

With the rising consumption of adhesives and paints and coatings, the demand for crotonic acid will surge in the coming years.

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U.S. Expected to Witness Explosive Growth in North American Shower Glass Door Market in Future

The North American shower glass door market generated a revenue of $3,493.4 million in 2020 and it is predicted to advance at a CAGR of 7.6% between 2021 and 2030. According to the forecast of the market research company, P&S Intelligence, the market will attain a valuation of $7,151.7 million by 2030. The major factors driving the market advancement are the rising urbanization rate, the growth of the real estate sector, and the expansion of the tourism and hospitality industry.

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The increasing urbanization rate is one of the major factors propelling the expansion of the market. In this region, the urban population has grown at an explosive pace over the last few years and this trend is predicted to continue in the coming years. As per the 2018 Revision of World Urbanization Prospects produced by the United Nations Department of Economic and Social Affairs (UNDESA), nearly 68% of the global population will live in towns and cities by 2050.

The North American shower glass door market recorded the highest growth in the U.S. in the past years. Moreover, the market will demonstrate the fastest growth in the U.S. in the coming years. This is ascribed to the fact that the urban population of the country has grown massively over the last few years, on account of the surging employment opportunities and disposable income of the people residing in the country.

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Hence, it can be said with full confidence that the market will register huge expansion in the forthcoming years, mainly because of the rising disposable income of people and the increasing urbanization rate in the region. 

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Increasing Popularity of Renewable Energy Sources Fueling Demand for Energy Storage Systems

Due to the increasing adoption of renewable sources of energy, the demand for energy storage systems is growing rapidly across the world. With the rise in the pollution levels, the public preference for renewable energy sources such as solar and wind is increasing explosively over the conventionally used energy sources such as coal, gas, and oil. Furthermore, as the renewable energy sources have extremely variable outputs, their growing usage is positively impacting the demand for energy storage technologies.

Due to the above-mentioned factors, the popularity of energy storage technologies is soaring all over the world. This is propelling the growth of the energy storage market. As per P&S Intelligence, a market research company based in India, the size of the market was 171,039.3 Megawatts (MW) in 2019. The size of the market is predicted to rise by 69,917.6 MW between 2020 and 2030. Furthermore, the market will progress at a CAGR of 3.3% from 2020 to 2030.

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Based on type, the energy storage market is divided into electrochemical, mechanical, thermal, and chemical categories. Out of these, the mechanical category had a considerable share in the market during the last few years. This is credited to the fact that the usage of the mechanical utility storage devices has been traditionally very high all over the world, predominantly because of their very high storage capacities and the vast volumes of energy produced from the pump hydro mechanical systems.

Historically, the Asia-Pacific (APAC) energy storage market exhibited the highest growth in the world. This is attributed to the high number of engineering, procurement, and construction (EPC) projects in Japan, China, and India. Furthermore, the market is predicted to register major advancement in the region in the forthcoming years, on account of the increasing installation of energy storage systems in the region. Additionally, the storage capacity added by the APAC region in the market over the next several years is predicted to be the highest across the world.  

Hence, it can be concluded that the market will demonstrate tremendous growth in the upcoming years, primarily because of the increasing requirement of energy storage, on account of the rising power prices, environmental damage caused from conventional energy generation, and growing adoption of renewable energy sources such as wind and sunlight for power production throughout the world.

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Automated External Defibrillator Market to Have Bright Future in Asia-Pacific (APAC)

Every year, 800,000 people in the U.S. die of cardiovascular diseases (CVD), according to the American Heart Foundation. The annual global mortality associated with these conditions has been estimated by the World Health Organization (WHO) at 17.9 million. The most common CVDs include coronary artery disease, congestive heart failure, stress cardiomyopathy, and arrhythmias. Coronary artery disease ultimately results in a myocardial infarction (heart attack), while prolonged, untreated arrhythmias (most commonly ventricular fibrillation) can lead to cardiac arrest. During such events, the normal sinus rhythm is compromised, which is why it is essential to restore it, to manage these conditions.

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Semi-automatic and fully automatic are the two types of devices used, of which the fully automatic ones witnessed the higher demand during 2014–2019, as they are perfect for people prone to sudden cardiac arrest (SCA). These devices automatically detect the heart rhythm, asses the need for sending an electric pulse, and then send shock the myocardium themselves, without the requirement for a second person. Thus, they offer patients independence as well as quicker symptomatic relief, which is why the preference for them is high.

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Additionally, with the surging prevalence of CVDs, the focus on providing automated external defibrillators in public spaces is growing. Such devices are being rapidly installed in places with a high footfall, including schools, railway stations, shopping centers, colleges, airports, and leisure centers, wherein they are called public access defibrillators, as they can be used by anyone in need. For instance, the Sudden Cardiac Arrest Foundation funded a number of schools in the U.S., in 2016, to purchase AEDs. Similarly, in June 2019, the Heart Foundation and Coles Group partnered to make AEDs available at all of the latter’s supermarkets in Australia.

Therefore, the requirement for AEDs will continue to surge, as an increasing number of people fall prey to heart problems. 

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What Will Government Support Add to Saudi Arabia Facility Management Market?

A surge in construction activities and growth in the tourism industry in Saudi Arabia are expected to expand the Saudi Arabian facility management market at a 9.3% CAGR during 2020–2030 (forecast period). At this rate of advancement, the market size is expected to rise from $32,480.4 million in 2019 to $76,244.9 million by 2030. Additionally, the increasing focus of the Saudi government toward economic diversification is also benefitting the market.

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The government of Saudi Arabia is attempting to reduce its dependency on the oil & gas sector by developing a long-term economic plan that incorporates economic reform plans, such as 'Saudi Vision 2030'. Under this initiative, the government aspires to develop public sectors that encompass tourism, health, recreation, infrastructure, and education. The development of these sectors will increase the adoption of several maintenance services, thereby, propelling the growth of the market.

Based on the type segment, the Saudi Arabian facility management market is bifurcated into hard and soft services. Of these, the demand for hard services will rise more rapid than soft services, as they are highly applied in professional services. With the expansion of the infrastructure sector and support from the government, the Saudi Arabian market is expected to generate more revenue from the hard services, in comparison to soft services. 

As for the strategic measures, players in the market are focusing on winning client deals. Keeping up with the trend, Tadbeir Company Ltd. signed a contract with Emaar Middle East LLC, in December 2018, to offer facility management services at Jeddah Gate. The company will provide its services at a residential tower and Emaar square that host several restaurants, showrooms, buildings, and a public plaza that spreads across an area of 413,000 square meters.

Other players in the Saudi Arabian facility management market include Nesma Trading Co. Ltd., Petrojana, EMCOR Group Inc., Al Borj International, Khidmah LLC, Interserve plc., and Engie S.A. All these players aim at bagging contracts for large infrastructure facilities. In the same vein, EMCOR Group Inc. entered into a contract with Tatweer Buildings Company to offer facility management services for three years. EMCOR would provide facility management services to 2,714 Saudi schools, including those in the cities of Madinah, Mecca, and Jeddah.

Taking into account all the growth drivers and market trends, it can be projected that the market holds a strong potential for growth in Saudi Arabia.

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How is Expanding Manufacturing Industry Driving Indian Diesel Genset Market?

The Indian diesel genset market had a valuation of $1,105.7 million in 2019 and is predicted to generate a revenue of $2,365.2 million by 2030. Furthermore, the market will progress at a CAGR of 12.5% between 2020 and 2030, as per the estimates of P&S Intelligence, a market research company based in India. The rapid expansion in the manufacturing sector and the growing requirement for power for various commercial applications in the country are the main market growth drivers.

The launch of several government programs such as ‘Make in India’ and the implementation of favorable government policies with respect to the progress of the micro, small, and medium enterprises (MSMEs) are fueling the boom in the country’s manufacturing sector. Moreover, the surging investments being made in the development of industrial corridors are positively impacting the sales of diesel gensets in India. This is because of the burgeoning requirement for backup power supply among manufacturing facilities across the country.

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The commercial category is further subdivided into telecom towers, retail establishments, hospitals, restaurants, offices, and hotels. Out of these, the telecom tower category registered the highest growth in the Indian diesel genset market during the past few years. Moreover, this trend is predicted to continue in the upcoming years as well. This will be because of the high requirement for backup power in telecom facilities and organizations around the country. 

Furthermore, it is predicted that by 2022, the enactment of government policies such as the National Digital Communications Policy will raise investments of around $100 billion in the telecom sector. It will also fuel the development of an additional 100,000 mobile towers for catering to the demands of the mushrooming subscriber base. This will, in turn, push up the requirement for diesel generators in the country. The market will demonstrate the fastest growth in Tamil Nadu in the upcoming years. 

Hence, it can be safely said that the market will grow substantially in the coming years, primarily on account of the rapid expansion of the construction and manufacturing industries in the country.

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What Does Beta-Carotene of Palm Methyl Ester Add to Personal Care Products?

Palm oil derivates are widely used in the production of personal care products, as they contain beta-carotene, which is a strong antioxidant that eliminates free radicals. These derivates are, therefore, used as viscosity modifiers, humectants, and emollients in such items. Products containing such derivates are non-toxic and highly biodegradable in comparison to petroleum-derived substitutes. In this regard, the rapid shift toward natural personal care products has led to the production of organic haircare and skincare products containing palm methyl ester derivatives.

Moreover, the rise in the adoption of palm-oil-based biodiesel is catalyzing the demand for the derivatives of palm methyl ester. There has been a rapid shift toward renewable energy sources, including biodiesel, from conventional sources, as they are a less-polluting fuel. Biodiesel is derived from fatty acid methyl esters (FAMEs) of vegetable oils like palm oil and rapeseed oil, which is why it has a weaker environmental impact in comparison to diesel fuel. This factor will, therefore, assist the palm methyl ester derivatives market in growing from $1,443.4 million in 2018 to $2,106.7 million by 2023 at a 6.4% CAGR during the forecast period (2019–2024).

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According to P&S Intelligence, the Asia-Pacific region has demanded the largest quantity of palm methyl ester derivatives till now. This can be owed to the high-volume availability of the feedstock, low manufacturing cost, and widescale adoption of beauty and personal care products. Owing to these reasons, APAC will remain the largest consumer of these derivatives in the coming years, with China utilizing their highest quantity. With a surge in their disposable income and growing influence of the Western culture, regional inhabitants have become more conscious of their appearance, which is why cosmetics and personal care companies are making brisk business.

Thus, the switch toward natural cosmetic products and biodiesel will amplify the application of palm methyl derivatives in the coming years.

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