Demand for Automotive Refinish Coatings Expected to Soar in APAC in Coming Years

With the increasing income of people and the surging gross domestic product (GDP) of many countries, the sales of automobiles are booming, which is, in turn, pushing up the demand for automotive refinish coatings. For example, due to the surge in the GDP, the sales of automobiles in China grew by 28.03 million four-wheelers in 2016. This subsequently fueled the demand for refinish coatings, as these coatings are heavily required for automobile maintenance and repair.

Similarly, in India, the sales of used cars increased from 1.6 million units in 2011 to 3.3 million units in 2016. The U.S. also witnessed a massive rise in the sales of used trucks and cars, with the sale of 17.6 million units in 2016, because of the lower prices of these vehicles in comparison to new vehicles. Apart from this, the mushrooming demand for recreational vehicles is also fueling the sales of automotive refinish coatings.

With the ballooning sales of these vehicles, manufacturers are increasingly focusing on making modifications, in order to provide economically viable and customized RVs to customers. This growing trend of modification and customization of RVs is fueling the demand for automotive refinish coatings, thereby driving the expansion of the global automotive refinish coatings market. Primer & filler, basecoat, and clearcoat are the most widely used types of automotive refinish coatings around the world.

Out of these, the application of these coatings is predicted to rise rapidly on two-wheelers in the coming years, owing to the soaring sales of both used and new two-wheelers globally. Across the globe, the demand for automotive refinish coatings is predicted to surge in Asia-Pacific (APAC) in the upcoming years. This is ascribed to the mushrooming sales of vehicles in the regional countries such as China and India and the growing number of vehicle manufacturing facilities in the region.

Hence, it can be safely said that the demand for automotive refinish coatings will shoot up in the future, primarily because of the surging sales of automobiles, ballooning popularity of customized RVs, increasing average lifespan of vehicles, and the growing incidence of road accidents in various countries.

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Obesity/Surgery Devices Market Set for Prosperity in Future

The rising prevalence of obesity and increasing awareness about bariatric surgery amongst the obese people are the biggest factors responsible for the surge in the demand for obesity/bariatric surgery devices across the world. According to the statistics published by the American Society for Metabolic and Bariatric Surgery (ASMBS), the total number of bariatric surgeries conducted in the U.S. increased from 158,000 to 196,000 from 2011 to 2015. Due to the growing adoption of these surgeries, the demand for obesity surgery devices will undoubtedly increase in the coming years.

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Several companies across the world are increasingly organizing obesity awareness programs for increasing the public awareness about the various medical treatment and surgery options available for those suffering from obesity. For instance, a non-profit organization in the U.S., called Campaign to End Obesity, regularly conducts programs in order to increase the public awareness about exercise, bariatric surgery, and diet. The American Association of Physicians of Indian Origin (AAPI) started the Childhood Obesity Awareness program in 2013, which has so far significantly increased awareness about bariatric surgeries in the U.S.

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Geographically, the Asia-Pacific (APAC) region, owing to the increasing incidence of obesity and flourishing medical tourism industry, is projected to register the fastest growth in the utilization of obesity/bariatric surgery devices during the forecast period. As per the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP), elderly people are predicted to account for nearly 20.0% of the total population by 2050, thereby propelling the demand for obesity surgeries in the region. As a result, the obesity/bariatric surgery devices market will boom in the region in future.

Thus, the demand for obesity/bariatric surgery devices will shoot up massively across the world over the next few years, owing to the rising prevalence of obesity and soaring geriatric population.

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How Can Head-Up Displays Help Prevent Accidents?

With more than 1.3 million people dying in vehicle crashes every year, as per the World Health Organization (WHO), the focus on making road transportation safer has increased massively in the recent past. What is disheartening is that most of these accidents are caused not by a failure of vehicle systems but by humans themselves. The key reasons because of which automobiles crash are over-speeding, not paying attention to the road while driving, talking on the phone while driving, reckless driving, and not keeping enough distance from the vehicle in front.

As a result, the need for systems and software that can aid people while driving is rising, and many countries have mandated their adoption in automobiles. This is a key reason because of which P&S Intelligence expects the automotive head-up display market to witness rapid growth in the years to come. These systems are to become a key component of vehicles integrated with advanced driver-assistance systems, which offer tire pressure data, drowsiness monitoring, parking assist, adaptive cruise control, blind-spot detection, lane departure warning, adaptive front lighting, night vision, and driver monitoring functionalities.

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Due to such efforts, “Electric cars, which accounted for 2.6% of global car sales and about 1% of global car stock in 2019, registered a 40% year-on-year increase.”, the International Energy Agency (IEA) says in its Global EV Outlook 2020 report. In PEVs, head-up displays aren’t just needed to display the ADAS data, but the data of the vehicle itself, including battery charge level, battery temperature, and charging status. Thus, with the International Renewable Energy Agency (IRENA) projecting the number of electric cars in operation to touch 200 million by 2030, the demand for head-up displays can be expected to skyrocket.

In the coming years, Asia-Pacific (APAC) will be the largest automotive head-up display market because of the rising automobile sales, including those of PEVs, in the region. In addition, China, South Korea, Japan, and India are among the top 10 vehicle producers owing to the cost-effectiveness of labor and raw materials and less-strict environmental regulations. These advantages have attracted many European and North American automakers to set up their plants in the region.

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Hence, with the rising production of automobiles and increasing focus on road safety, the demand for head-up displays will keep booming around the world.

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Physiotherapy Tapes and Bandages Providing Relief to Road Accident Victims in LATAM

According to the World Confederation for Physical Therapy, the total number of physiotherapists in Latin America (LATAM) stood at 350,221, as of June 2019. The Confederation further stated that Brazil had 250,000, Colombia had 29,483, Peru had 5,000, Chile had 30,360, Ecuador had 2,530, and Mexico had 4,861 practicing physiotherapists. Due to the presence of a large number of such medical professionals, the consumption of physiotherapy tapes and bandages is quite high in the region.

Moreover, high incidence of road accidents and sports injuries in the region is expected to fuel the LATAM physiotherapy tapes and bandages market at 2.7% CAGR during the forecast period (2020–2030). The market was valued at $30.4 million in 2019 and it is expected to reach $39.8 million by 2030. The World Health Organization (WHO) recorded that the death rate per 10,000 people due to road accidents, in 2018, was 10.2%, 13.4%, 13.7%, 20.2%, 21.5%, 24.8%, and 40.8% in Chile, Argentina, Peru, Brazil, Colombia, Ecuador, and Venezuela, respectively.

The road accident victims often suffer severe injuries and fractures, which require surgeries. These patients often need physiotherapy as a part of post-op care, to reduce or overcome effects of disability caused due to accidents. Aftercare physiotherapy is generally carried out by using physiotherapy bandages, which offer relief from severe pain. To offer better treatment to such victims, key market players like DeRoyal Industries Inc., Implus Corporation, Johnson & Johnson, Becker Orthopedic, Essity AB, 3M Company, Beiersdorf AG, NASARA Corporation, and Kinesio Taping LLC have been launching advanced products.

Thus, the growing incidence of road accidents and the burgeoning number of practicing physiotherapists in LATAM will boost the usage of physiotherapy tapes and bandages in the foreseeable future.

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Demand for Fracture Management to be Highest in Brazil due to Increasing Hip Fracture Cases

 The prevalence of osteoporosis in Latin America (LATAM) has been growing at a rapid pace. The bone diseases causes the loss of bone density, which, in turn, raises the risk of fractures in the body. In LATAM, osteoporosis is among the key causes for the growing incidence of fractures. According to the International Osteoporosis Foundation, people in the region are projected to suffer from about 655,648 hip fractures by 2050. 

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This growing prevalence of osteoporosis and rising incidence of fractures are leading to the increasing need for fracture management in the region. According to a research conducted by P&S Intelligence, the LATAM fracture management market is projected to generate a revenue of $1,002.9 million by 2030, rising from $592.0 million in 2019, progressing at a 5.1% CAGR during the forecast period (2020–2030). The major function of fracture management is to decrease the open or closed fracture in a way that will result in the restoration of normal anatomy. 

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The material used for fracture management are synthetic, plaster of Paris (POP), bioabsorbable, and metallic. Most of the plating systems, screws, hip plates, and other types of plating system accessories are primarily made up of surgical steel, stainless steel, or other kinds of metals, owing to which, the demand for metallic material has been high in the region. They are crucial elements when it comes to fracture management, since they return the lost physical strength and rigidness to the body. 

Fracture management products and materials are used at ambulatory surgery centers, clinics & orthopedic centers, and hospitals, out of which, hospitals are expected to create high demand for them in the coming years. These medical settings offer the best trauma management facilities, which can be ascribed to the fact that they have a 24/7 availability of staff and medical devices which are needed to treat such patients. 

Within the region, Brazil emerged as the major LATAM fracture management market in 2019, and the country is further predicted to create the highest demand for fracture management materials in the years to come as well. The increasing number of osteoporosis and orthopedic disease cases and surging geriatric pollution is driving the demand for fracture management in the region. As per the National Osteoporosis Foundation and the International Osteoporosis Foundation, 141,925 women and 55,844 men are predicted to suffer from hip fractures by 2040. 

Hence, the market is growing due to the increasing prevalence of osteoporosis and rising incidence of fractures in LATAM.  

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Booming Logistics Industry Driving Demand for Diesel Exhaust Fluid

Historically, the sales of diesel exhaust fluids (AdBlue) were driven by the extensive deployment of medium- and heavy-duty commercial vehicles such as mining and construction vehicles and trucks. However, the increasing enactment of stringent vehicular emission norms by the governments of several countries and the growing requirement for higher fuel efficiency, especially in the European, Asian, and North American countries are fueling the requirement for these fluids in passenger vehicles as well. 

The governments of many countries are increasingly launching initiatives, such as strict environmental regulations, for reducing air pollution. For example, in the U.S., the emission standards were upgraded from United States Environmental Protection Agency (USEPA) Tier 2 to USEPA Tier 3 in 2017. Similarly, in Europe, the Euro 6 emission standards were enacted and the region aims to enact stricter amendments in the forthcoming years, which would, in turn, push up the demand for diesel exhaust fluid. 

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Additionally, the mushrooming sales of heavy-duty vehicles such as trailers and trucks, on account of the rising industrialization rate and the rapidly improving logistics infrastructure in order to ensure the timely delivery of products in remote areas, are also fueling the demand for these fluids across the globe. As per reports, nearly four million trucks are predicted to be sold globally by 2023. This will subsequently cause the expansion of the diesel exhaust fluid market.

Additionally, the growing demand for product transportation is augmenting the deployment of heavy-duty trucks, which is, in turn, propelling the requirement for bulk storage solutions. Geographically, the diesel exhaust fluid market will exhibit rapid expansion in Asia-Pacific (APAC) in the coming years, as per the estimates of the market research company, P&S Intelligence. This will be because of the surging sales of heavy- and medium-duty vehicles and the implementation of strict emission norms in the regional countries. 

Hence, it can be safely said that the demand for diesel exhaust fluid will shoot up in the forthcoming years, primarily because of the growing enactment of strict emission norms and the mushrooming sales of heavy-duty vehicles, on account of the booming transportation and logistics industries and the launch of infrastructural development projects in various countries.

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Why Is Demand for Alumina Rising with Increasing Consumption of Steel?

Aluminum is a versatile material, providing high strength relative to its mass density. From soda cans and window frames to aircraft parts and trainsets, aluminum is prized in a wide range of applications. As a result, the mining of bauxite to yield alumina, which is essentially aluminum oxide (Al2O3), is picking up around the world, especially in India, China, Malaysia, Australia, and Indonesia. The bauxite is used to derive various grades of alumina, including tabular, calcined, metallurgical, reactive, fused, bubble, high-purity, activated, and submicron.

This is because apart from metallurgy, aluminum oxide has various other applications, namely as refractories and the manufacturing of abrasives, ceramics, aerosol lubricants, and bearings. Of these, metallurgy remains the largest application of the compound owing to the rising demand for aluminum metal. P&S Intelligence credits this wide application base of the salt while projecting a 2.2% CAGR for the alumina market between 2019 and 2024.

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Apart from this, the consumption of alumina as a refractory material is also increasing. Refractories are generally used to line the walls of industrial furnaces, as they remain stable and do not disintegrate when subjected to extreme temperatures. Most prominently, alumina refractories are used in factories where steel is made. Due to the increasing demand for this iron alloy in the construction sector, the consumption of high-specialty alumina refractories is growing. As per the World Bank in 2018, almost 75% of the infrastructure required in 2050 was yet to be constructed.

Presently, the highest amount of alumina is produced in Asia-Pacific (APAC) on account of the high-volume bauxite mining and processing operations in India, Indonesia, and China. As per the British Geological Survey, these three countries together produced 58.5% of the world’s alumina in 2017. Moreover, reflecting a high degree of forward integration, the agency said that almost 64% of the world’s aluminum was produced in APAC, led by the high-volume production in India, China, Malaysia, Indonesia, and Australia.

In 2019, the alumina market was fragmented in nature and led primarily by companies from China, which have high production capacities. To gain an even larger industry share, companies are further expanding their production facilities. For instance, in January 2019, Vedanta Limited announced intentions to augment its capital expenditure to $300 million to increase production at its Lanjigarh alumina factory in Odisha. Other key companies in the market are United Company RUSAL PLC, Hindalco Industries Limited, Aluminum Corporation of China Limited, Rio Tinto plc, National Aluminum Company Limited, Alcoa Corporation, South32 Limited, Norsk Hydro ASA, CVG Bauxilum CA, Almatis B.V., and Alumina Limited.

Thus, with the growing demand for aluminum and steel, the consumption of aluminum oxide will rise as well.

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