How Is Flourishing Metallurgy Sector Driving Asia Charcoal Briquettes Market?

The soaring popularity of barbecued food and flourishing cement and steel industries will drive the Asian charcoal briquettes market at a CAGR of 6.2% during the forecast period (2020–2024). The market stood at $952.5 million in 2019, and it is projected to reach $1,158.4 million by 2024. Asia has a vivid culture, with every nation having its signature cuisines and cooking styles. However, changing food preferences of people and a growing awareness about a healthy lifestyle can be observed in every country. Owing to this, the consumption of grilled or barbecued food is rapidly rising in the region.

Moreover, the growing metallurgy industry in the region will facilitate the Asian charcoal briquettes market growth in the future. The mushrooming production of steel in China and India has resulted in a high demand for fuels such as charcoal briquettes, as they offer a notable amount of heat for the manufacturing process. The steel industry is increasingly using charcoal briquettes as they are a cost-effective raw material and work as an effective substitute for traditional fuels. Moreover, this fuel is a clean and renewable source of energy.

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India is presently the largest Asian charcoal briquettes market because it is home to a number of producers, therefore accounts for a rather high-volume availability of the fuel. In 2018, 2,880.0 thousand tons of the fuel were produced in the country, says the Food and Agriculture Organization (FAO), which allowed for its easy availability in rural areas, where many people still do not have gas stoves and rely on charcoal for everyday cooking. Moreover, the fuel is also becoming popular for industrial usage in the country.

The Asian charcoal briquettes market is extremely unorganized due to the presence of several small players. Some of the leading players are Thailand Premium Charcoal Supplier, Sagar Charcoal and Firewood Depot, Matsuri International Co. Ltd., Life Green Charcoal Sdn Bhd, PT. Coconut Charcoal Briquette Factory, Mackay Green Energy Inc., PT. Ruby Privatindo, Mesjaya Abadi Sdn Bhd, COCO Energy, and Subur Tiasa Holdings Berhad. These companies are using several strategic measures, such as product launches and distribution agreements, to increase their revenue.

Thus, the growing inclination toward barbecued or grilled food and strengthening metallurgy industry in Asia will fuel the demand for charcoal briquettes in the future.

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Why will Indian Aerosol Market Boom in Northern India in Coming Years?

The aerosol market in India reached a revenue of $526.28 million in 2019 and it is predicted to progress at a CAGR of 6.0% between 2020 and 2030. Furthermore, the market will attain a valuation of $891.13 million by 2030. The market is being driven by the burgeoning requirement for aerosols in the manufacturing and automotive industries and the increasing enactment of favorable government initiatives regarding research and development (R&D) activities in the manufacturing industry.

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With the surging manufacturing of commercial vehicles, passenger cars, two-wheelers, three-wheelers, and quadracycles, the sales of aerosols are growing rapidly in India. As per the Society of Indian Automobile Manufacturers (SIAM), in India, the automotive industry manufactured 30,915,420 vehicles during 2018–19. As per the India Brand Equity Foundation (IBEF), because of the soaring population of young people and the disposable income of people, the sales of automobiles will skyrocket in the coming years.

Geographically, the Indian aerosol market registered the highest growth in the northern part of the country during the last few years and this trend will continue in the forthcoming years as well, as per the forecast of P&S Intelligence, a market research company based in India. This is credited to the growing consumer preference for various personal hygiene products such as antiperspirants and deodorants and aerosol-based homecare and car care products in the northern region.

Hence, it can be said with full confidence that the market will demonstrate huge expansion in the coming years, primarily because of the growing requirement for aerosol in the manufacturing and automotive industries in the country.

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Why is Worldwide Popularity of Critical Power and Cooling Solutions Soaring?

The increasing popularity of cloud computing and digitalization and the burgeoning requirement for improving cooling efficiency in data centers are some of the major factors propelling the demand for critical power and cooling solutions across the world. The mushrooming adoption of cloud computing and digitalization is fueling the development of data centers. Moreover, the existence of poor grid infrastructure is powering the demand for proper backup power sources that can protect electrical equipment from the consequences of grid power fluctuations. 

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Critical power and cooling solutions are highly reliable and help in extending the lifespan of various electrical equipment. Additionally, with the rising industrialization and urbanization, especially in Asia-Pacific, the demand for data storage and power generation is growing rapidly, which is, in turn, propelling the requirement for critical power and cooling solutions. Furthermore, the soaring power requirements in several end-use industries such as hospitals, power plants, and banking and financial services are massively boosting the demand for these solutions.

Due to the above-mentioned factors, the popularity of these solutions is rising sharply across the globe. This is driving the progress of the global critical power and cooling solutions market. Critical power and cooling solutions consist of generators, inverters, converters, uninterrupted power supply (UPS), transfer switches, breaker transfer pairs, power transfer switching, generator paralleling breakers, air conditioning, switch transfer pairs, chilling units, liquid cooling solutions, cooling towers, economizer systems, pumping units, control systems, air coolers, and humidifiers.

In this region, the demand for these solutions was found to be the highest in the U.S. during the last few years. The popularity of these solutions was also very high in several European countries such as Germany and also in the Asia-Pacific region in the years gone by. In the coming years, the critical power and cooling solutions market is predicted to exhibit the fastest growth in the Latin America, Middle East, and Asia-Pacific regions.

Hence, it can be said with full surety that the demand for critical power and cooling solutions will surge sharply all over the world in the coming years, primarily because of the rising requirement for backup power in data centers.

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Where will Wearable Fitness Trackers Market be in 2023?

One of the key factors responsible for the surge in the demand for wearable fitness trackers is the rising adoption of smartphone-based fitness tracking apps across the world. These apps, owing to their ability to provide a wide array of useful features, functions, and designs that help the consumers in their fitness journey, are witnessing a ballooning demand. Furthermore, the support granted to these apps by all the major smartphone operating systems, such as Android, Apple, and Blackberry, is resulting in their easier accessibility, thereby leading to their high utilization. 

The global wearable fitness trackers market is expected to register massive growth during the forecast period (2018–2023), with a CAGR of 16.5%. The mushrooming sales of wearable fitness trackers, as a result of their escalating global demand, are expected to result in $48.2 billion revenue by 2023. In simple terms, a fitness or activity tracker monitors how well people are working on their fitness, by measuring the distance traveled, calories burnt, and also the heart rate. Many of the modern-day activity trackers are synced to a smartphone, which is why the increasing downloads of fitness apps is significant.

Several variants of wearable fitness trackers are now available for purchase: smart garments and body sensors, leg-wear, and wrist-wear. Amongst these, smart garments and body sensors, on account of the rising collaboration of fitness, fashion, and high-tech companies, are expected to record the fastest growth in demand in the near future. Wearable fitness trackers are sold in the market through direct and indirect distribution channels. Owing to the skyrocketing number of online stores and the rising popularity of the online shopping concept, indirect distribution channels recorded higher sales in 2017. 

An increasing number of product launches and  cross compatibility and integration of personal assistance and personal health apps are being observed in the wearable fitness trackers market. The prominent companies manufacturing such devices are frequently launching new and innovative products, primarily to achieve their aim of expanding their global presence and product portfolio. For instance, Garmin International Inc., owned by Garmin Ltd., launched the Approach X10, a golf band variant of its wearable devices, in January 2018, which is compatible with the company’s golf app. 

Geographically, North America was the region which recorded the largest sale of such devices during 2013–2017. This was a result of the presence of prominent consumer electronics companies, such as Fitbit Inc., Apple Inc., and Fossil Group Inc., high frequency of chronic diseases, growing adoption of fitness trackers for health monitoring, and rising healthcare expenditure in the region. In the coming years, people in Asia-Pacific (APAC) are expected to purchase these devices at the highest rate, as the internet penetration is rapidly rising here.

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Why Is Automotive Sector Replacing Nuts and Bolts with Hot melt Adhesives?

With the increasing disposable income around the world, industrialization activities are picking up. This is eventually leading to the growth of the packaging industry, as anything that leaves a factory needs to be packaged, to protect it from the elements till it reaches the end customer. An important raw material required for packaging, both rigid and flexible, is the adhesive. Presently hot melt adhesives, which are available as solid, cylindrical sticks, to be applied by being heated up inside a gun, are becoming popular.

Hence, as per P&S Intelligence, the booming packaging industry will take the hot melt adhesives market value from $7,717.0 million in 2019 to $12,761.3 million by 2030, at a 6.1% CAGR between 2020 and 2030. Within the packaging sector, the usage of such materials for food and beverage packaging is burgeoning. With the increasing purchasing power of people, especially in developing countries, the consumption of packaged food and beverage products, such as potato chips, cold drinks, bakery and confectionery products, ready-to-eat food, biscuits and cookies, and other snacks, is increasing.

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Moreover, the APAC region will also be the fastest-growing region in the hot melt adhesives market during the forecast period. Owing to the booming population in the region, the demand for packaged food, clothing, automobiles, and consumer electronics is rising. Further, raw materials and labor are available at cost-effective prices in regional countries, which is why manufacturers from North America and Europe are setting up their factories here. As a result, the region is also the largest producer of chemicals, including hot melt adhesives, thereby resulting in their ready availability at low rates.

Hence, with the growth of the automotive, packaging, and other sectors, the demand for hot melt adhesives is rising.

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Why Are Researchers Switching to E-Clinical Solutions?

E-clinical solutions are used by healthcare providers, contract research organizations (CROs), and pharmaceutical and biotechnology companies, to acquire, manage, convert, and standardize data. Owing to such features, e-clinical solutions are widely used for clinical trials conducted by pharmaceutical and biotechnology companies. Furthermore, the CROs are using such solutions for supporting the pharmaceutical and medical device sectors, by offering research services, such as biopharmaceutical development, clinical trials management, preclinical research, clinical research, and biological assay management, on a contractual basis.

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Adoption of e-clinical solutions has accelerated, due to rising attempts to invent treatments for diseases like cancer, acquired immunodeficiency syndrome (AIDS), and diabetes. These attempts have encouraged pharmaceutical, biopharmaceutical, clinical research, and life sciences firms to invest hefty amounts in the development of e-clinical solutions market. Furthermore, surging incidence of cancer and diabetes will increase the application of e-clinical solutions. For example, the World Health Organization (WHO) states that cancer accounts for nearly 9.6 million deaths, annually. Whereas, the International Diabetes Federation (IDF) estimates that around 629 million people will suffer with diabetes, globally, by 2045.

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Additionally, booming ageing population will accelerate the requirement of e-clinical solutions, as the elderly are highly susceptible to chronic diseases like cancer, diabetes, and cardiovascular diseases (CVDs). According to the United Nations Department of Economic and Social Affairs (UNDSEA), the population size of individuals aged 65 years or above will reach 225.4 million in India, 356.6 million in China, 84.8 million in the U.S., and 52.0 million in Brazil, by 2050. They require better drugs due to the rising complexities in life-threatening diseases, on account of climatic abnormalities and changing lifestyle pattern.

Another factor driving the demand for such solutions is the government efforts to digitally transform their medical infrastructure. For instance, as part of its Health Information Technology for Economic and Clinical Health (HITECH) Act, the U.S. government incentivizes healthcare professionals who use digital technologies. Similarly, in 2015, the European Union (EU) announced plans to invest $18.1 million for developing the digital health infrastructure in the region, so that as many medical services as possible can be dispensed virtually, thereby resulting in time and cost savings for patients as well as caregivers.

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Surging Deployment of Electric Vehicles Fueling Demand for Lithium-Ion Batteries

With the mushrooming sales of electric vehicles, the demand for lithium-ion batteries is growing rapidly across the world. Due to the soaring air pollution levels and the fluctuating oil prices, the governments of many countries are implementing policies aimed at augmenting the deployment of electric vehicles. As per the Global EV Outlook 2018, 3.1 million electric passenger cars were sold around the world in 2017. This registered an increment of 57% from the electric passenger car sales recorded in 2016. 

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As lithium-ion batteries are extensively used in modern battery electric vehicles (BEVs), due to their high energy density, the ballooning sales of electric vehicles (EVs) are positively impacting the demand for these batteries across the world. Besides the surging sales of EVs, the growing adoption of lithium-ion batteries in various consumer electronics devices is also propelling their worldwide sales. The rising energy density of these energy storage devices is creating lucrative growth opportunities for many lithium-ion battery manufacturing organizations.

Due to the above-mentioned factors, the demand for lithium-ion batteries is increasing sharply all over the world, which is, in turn, fueling the expansion of the global lithium-ion battery market. As a result, the valuation of the market is predicted to rise from $33,720.8 million in 2018 to more than $106,493.0 million by 2024. Furthermore, the market is predicted to progress at a CAGR of 21.8% from 2019 to 2024. 

Across the globe, the lithium-ion battery market is predicted to boom in the Asia-Pacific (APAC) region in the coming years. This will be due to the burgeoning requirement for electric vehicles (EVs), on account of their rapidly falling prices and the implementation of favorable government policies regarding their adoption, and smartwatches, smartphones, smart vacuum cleaners, smart bulbs, laptops, and various other smart devices and the rapid technological advancements being made in this region. 

Therefore, it is quite clear that the sales of lithium-ion batteries will shoot up all over the world in the upcoming years, mainly because of their growing usage in consumer electronics products and the mushrooming deployment of electric vehicles in several countries.

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