Asia-Pacific Set to Witness Surge in Graphite Market in Coming Years

The global graphite market generated a revenue of $19,092.9 million in 2019 and is predicted to reach a valuation of $36,889.1 million by 2030. According to the estimates of P&S Intelligence, a market research company based in India, the market will progress at a CAGR of 7.4% between 2020 and 2030. The factors driving the advancement of the market are the rising requirement for graphite products in the electronics and metallurgy industries around the world. 

Additionally, the growing requirement for graphite in lithium-ion batteries and steel production processes is fueling the expansion of the market for graphite across the world. As per the World Steel Association, the global crude steel manufacturing increased from 1,814 million tons in 2018 to 1,869 million tons in 2019. The surge in steel manufacturing is because of the rising requirement for steel products in several end-use industries such as automotive, oil & gas, residential, and construction. 

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Because of its various beneficial traits such as high durability, strength at extreme temperatures, and high corrosion resistance, graphite is extensively used in the steel manufacturing process. Besides this, the mushrooming usage of graphite in lithium-ion batteries is also propelling the growth of the graphite market all over the world. Graphite is used in huge quantities in lithium-ion batteries as an anode. Each lithium-ion battery needs more graphite (10–20 times) than lithium.

Globally, the market is predicted to register huge expansion in Asia-Pacific (APAC) in the forthcoming years. This will be a result of the growing usage of smartphones, the soaring sales of automobiles, particularly electric vehicles, the expansion of mining operations, and surging commercial applications of graphite in the regional countries. In addition to these, the increasing manufacturing and import of graphite for meeting the domestic requirement for lithium-ion batteries is further boosting the sales of graphite in this region. 

Hence, it can be said with full confidence that the market will exhibit rapid advancement all over the world in the upcoming years, primarily because of the rising requirement for graphite in metallurgy, automobile, and electronics industries around the world.

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Triazine Sales Predicted to Boom in North America in Coming Years

With the growing usage of triazine in the petrochemical industry, its sales are climbing across the world. The compound is heavily used as a scavenger chemical in the stripping process for removing H2S from crude oil. The monitoring of H2S concentrations in petroleum reservoirs is extremely important, on account of the fact that it is a highly corrosive, flammable, and life-threatening gas. Moreover, because of these characteristics of H2S, stringent safety protocols are followed during the operation of various oilfields.

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As the compound has a plethora of beneficial pharmacological characteristics such as anti-inflammatory and antimicrobial features, it is increasingly being used for developing novel drugs. Additionally, the ring structure of triazine is found in various naturally occurring antibiotics such as toxoflavin, reumycin, and fervenulin. 1,3,5- triazine, which is one of the oldest known and most popular organic compounds, is widely used in acetoguanamine, cyanuric acid, aceto-guanide, and ammeline as a lead structure.

Another major factor propelling the growth of the triazine market is the ballooning usage of the compound in the agriculture sector. In this industry, the compound is heavily used as selective post- and pre-emergence weed control agents for corn, sugarcane, barley, sorghum, and wheat. Moreover, because of the surge in the area under farming and cultivation, the production of sugarcane, wheat, and barley is soaring, particularly in the emerging economies around the world.

Therefore, it can be said with full surety that the demand for triazine will shoot up all over the world in the upcoming years, mainly because of the mushrooming requirement for the compound in the petrochemical and healthcare industries and also in farming processes as weed control agents.

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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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