Why will Demand for Electroceramics Surge in Asia-Pacific in Coming Years?

The rapid expansion of the semiconductor and electronics industry is one of the major factors responsible for the mushrooming sales of electroceramics across the world. This is because electroceramics are extensively used for manufacturing electronic devices and semiconductors such as data storage devices, sensors and actuators, power distribution devices, and capacitors. Electroceramics are technologically feasible and have the ability to maintain economic viability and optimize size and space constraints in various final products such as computers, laptops, and smartphones.

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They are used in oxygen sensors, spark plugs, knock sensors, and combustion sensors in automobiles. Moreover, the vehicles that run on internal combustion engines such as cars, motorcycles, commercial vehicles, low-engine power vehicles, and boats/ships use these systems and sensors to monitor qualitative and key performance indicators in automobiles. Due to these factors, the demand for electroceramics is growing sharply all over the world. This is driving the advancement of the global electroceramics market.

Across the globe, the electroceramics market recorded the highest growth in the Asia-Pacific (APAC) region in the past years. Moreover, the market is predicted to demonstrate the fastest growth in this region in the forthcoming years as well. This will be because of the mushrooming requirement for electroceramics in automotive and consumer electronics manufacturing plants and facilities in the regional countries such as India, China, Japan, Taiwan, and South Korea.

Hence, it is safe to say that the demand for electroceramics will shoot up all over the world in the upcoming years, primarily because of their ballooning utilization in the automotive and semiconductor and electronics industries and the rapid expansion of these industries in several countries.

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Why is Demand for Plastic Recycling Surging in Asia-Pacific?

The soaring generation of waste products is augmenting the pollution levels, which is, in turn, fueling rapid environmental degradation. As a result, the governments of several countries are enacting policies aimed at mitigating waste material production or better managing the disposal of these waste materials. For instance, the Chinese government banned the imports of as many as 24 kinds of waste materials including non-industrial plastic wastes, in the country in December 2017. 

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This ban directly affected a very high volume of around 5.1 million metric tones of plastic waste. Moreover, this policy has fueled the popularity of plastic recycling in the country. Apart from these government regulations, the escalating marine, air, and land pollution levels in several countries, on account of the rising commercialization and industrialization rates, are also fueling the requirement for plastic recycling and changing plastic consumption patterns across the world. 

Furthermore, the rising public awareness about environmental consequences of plastic waste generation and disposal, the mushrooming demand for environment-friendly waste disposal methods, and the growing popularity of domestic recycling, especially in various North American and European countries, are also propelling the demand for plastic recycling processes throughout the world. This is driving the expansion of the global market for plastic recycling. The market valuation is predicted to surge from $41,238.8 million in 2018 to more than $64,139.7 million by 2024.

Geographically, the plastic recycling market will exhibit huge expansion in the Asia-Pacific region in the upcoming years, as per the estimates of P&S Intelligence, a market research company based in India. This will be due to the development of numerous small-scale processing facilities and plants in this region. Furthermore, the existence of affordable labor and relaxed environmental regulations and norms regarding plastic usage is propelling the market advancement in the region. 

Therefore, it can be said with full surety that the demand for plastic recycling will soar all over the world in the coming years, primarily because of the rising public awareness about the environmental consequences of plastic disposal and heavy generation of plastic wastes and the increasing enactment of strict regulations regarding plastic disposal in several countries.

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How Is Mining Sector Fueling U.S. Engine-Driven Welder Market?

The U.S. engine-driven welder market will grow at a CAGR of 6.0% during the forecast period (2019–2024), on account of the rising adoption of engine-driven welders in the mining sector and pipeline construction and maintenance operations. The mining and pipeline operations require such welders in remote locations, where there is lack of electricity supply. These factors, will therefore, help the market in escalating from $133.1 million in 2018 to $188.9 million by 2024, in the country. 

In recent years, the U.S. engine-driven welder market has witnessed a significant demand for advanced engine-driven welders. This market trend has encouraged leading manufacturers, such as Lincoln Electric Holdings Inc. and Miller Electric Mfg. LLC, to develop easy-to-operate, lightweight, and compact welders that require less set-up time. For example, Lincoln Electric Holdings Inc. introduced Ranger 330 MPX, a new gas-based engine-driver generator and welder, in February 2019. This product has smaller footprint, is lighter, and has smaller capacity than other machines of its kind. 

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Based on fuel type, the U.S. engine-driven welder market is classified into gasoline and diesel. Between the two, the diesel category is predicted to demonstrate higher growth in the market in the future years. Moreover, this category is predicted to register faster growth in the market in the upcoming years. This would be because of the growing usage of engine-driven welders in pipeline maintenance and construction operations in the country.

The U.S. engine-driven welder market is highly consolidated in nature, with the presence of few major manufacturers, including Hobert Welding Products, Multiquip Inc., Tomahawk Power LLC, Denyo Co. Ltd., and ESAB AB. However, the market is characterized by a large number of distributors such as Airgas Inc., WELDING SUPPLIES FROM IOC, A&B Welding Supply, Middlesex Welding Sales, One Source Equipment Rentals Inc., Cryo Weld, Barnes Welding Supply, TS Distributors Inc., Service Welding Supply, and Norco Inc.

Thus, with the rising number of mining and construction activities, the market will advance at a significant rate in the forecast years.

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Automotive OEM Coatings Market to Display Fastest Growth in Asia-Pacific

The automotive original equipment manufacturer (OEM) coatings market stood at $10,997.4 million in 2018, which is projected to reach $13,661.4 million by 2024, progressing at a CAGR of 4.2% during the forecast period of 2019–2024. The market growth can be driven by technological innovations and developments and the booming automobile industry in developing countries. Besides, the shift toward power coatings from liquid coatings, due to reduced emission of volatile organic compounds (VOCs), is the current trend being observed in the market.

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Additionally, advancement and innovation in the market will add to its growth during the forecast period. This can be ascribed to the increasing focus of OEM paint and coating producers toward novel products, technologies, and processes, to offer premium products for car manufacturers. Besides, automotive producers are seeking technological initiatives and advancements that cover different features and benefits in automobile coatings. These benefits include low maintenance cost, regulatory compliance, greater functionality, and reduced emission.

The technology segment of the market is classified into the powder coatings, solvent-borne coatings, water-borne coatings, and UV-curved coatings. Of these, the water-borne coatings category is expected to grow the fastest in the automotive OEM coatings market till 2024. This can be credited to the increasing inclination toward water-borne coatings over solvent-borne coatings, due to several environmental benefits offered by them. Also, the stringent norms regarding the emission of VOCs are adding to the high-volume demand for water-borne automotive coatings.

Due to the presence of few major players, the automotive OEM coatings market has a consolidated nature. This consolidated market is led by only seven manufacturers: Akzo Nobel N.V., BASF SE, PPG Industries Inc., Nippon Paint Holdings Co. Ltd., Axalta Coating Systems Ltd., The Sherwin-Williams Company, and Kansai Paint Co. Ltd. These players are adopting measures like product launches, geographical expansions, strategic alliances, and mergers, to gain a competitive edge in the market. 

Thus, the increasing demand for automobiles is driving the growth of the market during the forecast period.

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Demand for Acrylates Set to Shoot Up in Asia-Pacific in Near Future

The burgeoning requirement for paints and coatings in the construction industry is one of the major factors fueling the demand for acrylates across the world. Moreover, because of this reason, the boom in the global construction industry, on account of the surging population levels and the increasing urbanization rate, is causing a massive rise in the sales of acrylates across the world. Many countries are making huge investments in infrastructural development projects.

This is pushing up the requirement for acrylate-based paints and coatings, on account of the fact that these materials have high durability, can remain stable at extreme temperatures, and contain zero or negligible concentration of volatile organic compounds (VOCs). Apart from the expansion of the construction industry, the ballooning requirement for acrylic esters in adhesives and sealants is also positively impacting the demand for acrylates across the world. This is, in turn, fueling the advancement of the global acrylates market.

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This was primarily because of the huge requirement for acrylic formulations in various architectural paints and coatings that are applied on the exterior and interior walls of buildings. One of the major trends currently being witnessed in the acrylates market is the increasing preference of consumers for acrylic-based (or water-based) emulsions over the conventionally used oil-based products, due to the various beneficial traits of these products such as short drying time, resistance to water and wear, color fastness, and eco-friendliness.

Hence, it is safe to say that the demand for acrylates will skyrocket all over the world in the coming years, primarily because of the expansion of the construction industry and the surging requirement for acrylic esters in adhesives and sealants.

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Huge Growth Expected in Medical Connectors Market in Future

Cardiovascular diseases kill about 18 million people, while cancer claims around 9.5 million lives each year, says the World Health Organisation (WHO). Similarly, the CDC says that every six in 10 people in the US have a chronic disease. This rising prevalence of long-term diseases is leading to an increase in the demand for healthcare and medical services. Thus, with the expanding patient pool, new hospitals and other healthcare centers are being constructed, which is creating a high demand for various medical devices and associated components.

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This is the primary reason for the growth of the medical connectors market, as none of the electrical systems in medical settings can effectively function without connectors. Board-to-board, push–pull, radio-frequency (RF), magnetic, disposable plastic, hybrid, light-weighted hospital-grade, power/high-voltage, and input/output (I/O) rectangular connectors and power cords with retention systems are used in the healthcare sector. Among these, the demand for RF connectors would rapidly rise in the coming years, owing to the swift miniaturization of medical equipment.

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Among the various healthcare and related settings — diagnostic laboratories & imaging centers, hospitals, academic institutions, ambulatory surgical centers & clinics, and research laboratories — the demand for medical connectors has traditionally been the highest in hospitals. This is because these are much larger than other settings, thus account for a higher number of medical devices in use. Additionally, with more patients visiting hospitals than other places for diagnosis or treatment, the medical devices here work more than elsewhere, thereby leading to wear and tear and higher component replacement rates.

In the coming years, the medical connectors market is expected to witness the fastest growth in Asia-Pacific (APAC), as a result of the rising geriatric population, incidence of chronic illnesses, primarily diabetes and cancer, spending on healthcare and medical research and development (R&D), and disposable income of people. For instance, according to the United Nations Department of Economic and Social Affairs (UNDESA), people aged 60 and above made up 23.2% of the Japanese population in 2000, and this percentage would rise to 35.1% by 2025.

Therefore, as hospitalization rate increases as a result of the growing incidence of chronic diseases and rising geriatric population, the demand for medical connectors would surge too.

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What are Key Factors Driving the Growth of Medical Equipment Maintenance Market?

 The market growth is propelled by the improvements in medical devices, rise in the awareness regarding preventive maintenance, and stringent regulatory ecosystem. At present, end users are entering into multi-vendor contracts to reduce the complexities and additional expenses related to different services offered under individual agreements with the producers of medical equipment.

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One of the key growth drivers for the medical equipment maintenance market is the advancements in the medical device industry. Manufacturers of medical equipment are developing an array of high-quality products by using innovative technologies, on account of the heavy investments in research and development (R&D) activities. Medical devices have a certain life expectancy and need maintenance or replacement after a certain time. Thus, the expansion of the medical device industry will boost the market growth during the forecast period.

Another factor supporting the medical equipment maintenance market growth is the rising awareness regarding preventive medical equipment maintenance. Healthcare facilities are emphasizing cleanliness due to the guidelines laid down by international organizations to prevent infections and improve the cleanliness regimen. For example, as per the hospital hygiene and infection control guidelines of the World Health Organization (WHO), hospitals must focus on equipment management. Due to this, healthcare facilities are adopting numerous types of maintenance services for various medical devices.

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Moreover, the Asia-Pacific medical equipment maintenance market is projected to exhibit the fastest growth during the forecast period. This market is stimulated by the rising number of diagnostic tests in the region and increasing incidence of chronic ailments, which need medical devices for early diagnosis. Moreover, the rapid rise in the number of hospitals in the region, especially in China, will drive the market growth in the future. The number of hospitals in China increased from 27,600 in 2015 to nearly 33,000 in 2019.

Thus, the largescale construction of hospitals, rapid installation of advanced medical equipment, and increasing awareness regarding preventive medical equipment maintenance will fuel the market growth in the coming years.

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