Corrugated Packaging Materials Preventing Environmental Degradation

Corrugated packaging materials are being used in large quantities in the electrical and electronics industry, owing to the increasing consumption of consumer electronics that demands packaging in lightweight micro- and fine-flute corrugated configurations. Besides, the expansion of the e-commerce sector will also amplify the sales of such materials, as it has become the most convenient and affordable option for purchasing electronic devices. With the rising demand for consumer electronic goods, the consumption of these packaging materials will escalate in the coming years.

Additionally, the increasing applications of these materials in the processed food industry will accelerate the corrugated packaging market at a CAGR of 3.7% during forecast period. According to P&S Intelligence, the market value will rise from $237.5 billion in 2017 to $294.3 billion by 2023. Packaging of processed food items require flexible and secure packaging solutions to ensure convenience and product safety to consumers. Manufacturers across the world are developing innovative paperboard packaging solutions to meet the surging demand for lightweight and easy-to-use packaging materials for the processed food sector.

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The electrical and electronics and processed food industries are increasing their reliance on corrugated packaging, as it is made up of natural materials and is one of the most cost-effective packaging solutions for these sectors. Since these materials are developed from natural ingredients, they have the highest recycling rate in comparison to the other packaging materials. In recent years, regulatory and government bodies have raised numerous concerns regarding sustainability and environment. Owing to these reasons, end-use industries are switching to environment-friendly packaging materials for packaging their products.

Geographically, the Asia-Pacific region dominated the corrugated packaging market in the past, due to the escalating influence of the west and increasing shift toward retail ready-to-eat food. The hectic lifestyle of people and rapid urbanization in the region have fueled the adoption of durable and non-durable goods. In recent years, India and China have observed significant rise in the consumption of processed foods, therefore, creating high demand for these materials. Moreover, largescale export of automotive parts and consumer electronics from China and Japan have boosted the usage of the materials in APAC.

Thus, the growth of the processed food, electrical and electronics, and e-commerce sectors will lead to the largescale consumption of corrugated packaging materials, globally.

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Rising Awareness Propelling Sales of Baby Care Product

Compared to 490,292,000 during 1950–1955, 701,278,000 births took place around the globe during 2015–2020, as per the United Nations (UN). Raising babies is a lot of effort since they are helpless and completely dependent on grownups for at least a couple of years. Even after being weaned off the breastmilk, it takes some time for them to be able to ingest proper food. Similarly, their sensitive skin demands the highest level of hygiene and cleanliness. However, the soaps and other bathing and sanitary products used by adults are often harsh on babies’ skin, which is why the latter need specially formulated products.

Thus, the increasing awareness on these issues has given birth to the baby care products market, which, as per P&S Intelligence, has a rather bright future ahead. Apart from the rising birth count, the decreasing child mortality rate is also leading to the growing demand for such products, as this means that more babies are surviving. According to the UN, from 12.494 million and 5.014 million in 1991, the number of under-five-year-old and newly born children dying dropped sharply to 5.189 million and 2.44 million, respectively, in 2019.

Further, supermarkets and hypermarkets have started offering baby care products with an organic profile. Even though conventional products are created keeping children’s sensitive bodies in mind, they still contain chemicals, which can be harmful at times. Therefore, the demand for products containing organic ingredients is rising, as they are comparatively less harmful to the baby skin. Though these products are often more expensive than conventional ones, people are buying them aided by their increasing purchasing power.

Those who cannot yet afford premium products are going for mass products, which account for the higher sales. This is because most of the people on earth fall in the low- and middle-income groups, especially in developing countries. Overall, Asia-Pacific (APAC) is expected to witness the fastest growth in the baby care products market because of its vast population and high birth rate. Moreover, lifestyle magazines, social media, awareness campaigns, and TV shows are increasing the knowledge of people on this issue, which is why more of them are now focusing on childcare.

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Thus, with people’s rising awareness on baby care and their increasing income, the demand for the associated products will shoot up.

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Skin Replacement and Substitutes Market to Witness Robust Growth in Coming Years

 Over 180,000 people are burned to death every year, the World Health Organization (WHO) had estimated in 2018. Additionally, burns are the leading cause of disability-adjusted life years (DALY) in low- and middle-income countries. Such incidents often lead to nasty scars, as the skin peels or melts. In severe cases, the skin is damaged so much that it is unable to heal or grow back on its own, which results in skin grafting procedures.

Thus, with the increasing incidence of burn injuries, the skin replacement and substitutes market, which valued $838.0 million in 2018, is predicted to grow to $1,202.2 million by 2024, at a CAGR of 6.3% during 2019–2024 (forecast period). The usage of such products helps close and mend the wound as well as reduce the pain, which is why they are witnessing a rising adoption around the world. There are two primary types of skin replacement and substitute products available — cellular and acellular — of which the acellular variants are more in demand, as they can be used for excised and superficial wounds, even in pediatric patients. 

All the cellular and acellular products are further segregated as class I, II, and III. Of these, class III products account for the widest adoption, as they can effectively mend the dermis as well as the epidermis, which makes them suitable for ulcers, burns, and numerous other kinds of wounds. Ulcers, in particular, can result in the loss of the entire epidermal layer, as well as the dermal layer and subcutaneous fat, in severe cases. If left untreated, skin ulcers can morph into full-blown gangrene, the treatment for which is amputation, which is why an increasing number of people are seeking treatment for them. 

Another reason for the rising demand for such products is the growing disposable income of people around the world. According to the World Bank, the worldwide gross domestic product (GDP) per capita surged from $8,820.013 in 2009 to $11,312.555 in 2018. This rising purchasing power is enabling people to spend more on their appearance, which is why they are rapidly going for dermatological treatments, even if they are lot life-threatening, thereby leading to the surging demand for skin replacement and substitute products. 

Therefore, with more people suffering from burns and skin diseases, the demand for products which help treat the wounds will also increase. 

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How is Booming Life Sciences Sector Contributing to Growth of Pulse and Regional Oximeters Market?

Every year, 250,000 people die in the U.S. due to medical errors, as per a 2018 report published by the Johns Hopkins University. These not only impact patients and their relatives, but also hospitals, in the form of allegations of medical malpractice and ignorance. Other factors responsible for in-patient deaths are the severity of patients’ condition, underdeveloped healthcare infrastructure, primarily in emerging economies, and inadequately trained professionals. This is why, the demand for advanced medical devices is increasing across the globe, so doctors can better monitor patients. One of the most essential equipment at healthcare settings is an oximeter.

Further, these devices help determine whether supplemental oxygen is needed and also monitor the saturation under anesthetization. This is why, the use of such instruments has become a mandate, and governments of various countries are taking steps to ensure compliance. For instance, Masimo Foundation and Koninklijke Philips N.V collaborated with the Ethiopian government, in April 2016, to provide healthcare professionals in the nation with regional and pulse oximeters, especially for children and women. Later, the initiative was expanded to other countries in Sub-Saharan Africa and numerous in South Asia, where a large number of neonatal, pediatric, and maternal deaths are reported.

Around the world, North America has witnessed the widest use of these instruments, as several established companies are headquartered here, healthcare infrastructure here is more advanced than in other regions, and the geriatric population is rapidly growing. During the forecast period, the pulse and regional oximeters market growth in Asia-Pacific (APAC) would be the fastest, owing to the keen interest of device manufacturers to enter the regional market as well as the improvements in the healthcare infrastructure.

Hence, with SpO2 monitoring becoming mandatory in more countries than before and the prevalence of various chronic diseases increasing, oximeters would find an even wider application in the coming years.

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Demand for UV Curable Resins Set to Explode in Coming Years

The mushrooming popularity of environment-friendly industrial coatings is one of the major factors fueling the demand for UV curable resins across the world. It has been observed that the conventionally used inks, coatings, and adhesives contain various hydrocarbon solvents which when cured release hydrocarbons into the atmosphere. As these hydrocarbons contain harmful and toxic volatile organic compounds (VOCs), they being rapidly replaced by eco-friendly variants. Moreover, the governments of many countries are enacting strict regulations for mitigating VOC emissions.

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Unlike the conventionally used products, the UV curable products do not affect the environment. As a result, the popularity of radiation curable inks, coatings, and adhesives with UV and electron beam (EB) is growing rapidly. Furthermore, many industries are increasingly preferring to use UV cured resins over the conventional products, because of their greater environment-friendliness. Another factor propelling the worldwide sales of UV curable resins is the burgeoning requirement for UV curable products in the electronics industry.

Across the globe, the sales of UV curable resins are predicted to shoot up in the Asia-Pacific (APAC) region in the forthcoming years. This will be because of the rapid expansion of the construction industry in various regional countries such as India, Indonesia, and China. Moreover, the boom in the automotive industry in these countries, especially China, which has emerged as the world’s largest automobile manufacturer, is also fueling the demand for UV curable resins in the region. 

Hence, it is safe to say that the demand for UV curable resins will surge sharply all over the world in the upcoming years, primarily because of their mushrooming requirement in the electronics and packaging industries and the soaring popularity of eco-friendly industrial coatings.

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Increasing EV Sales Accelerating Automotive Battery Management System Adoption

A battery management system (BMS) is an intrinsic component of an automobile as it maintains the battery in operational condition, predicts battery life, and protects the storage units from damage. The system performs these tasks by controlling the charging process, protecting and balancing the cells, storing and monitoring historical operational data, and determining the state of health (SOH), remaining useful life (RUL), and state of charge (SOC) of the battery. This system aims to optimize the run-time per discharge cycle and the number of life cycles that can be attained by the battery during its lifetime.

This system is integrated into electric vehicles (EVs) and hybrid electric vehicles (HEVs) to improve the battery life and protect it from any damage. With the increasing environmental concerns, the sales of these vehicles have witnessed a significant spike in recent years. According to the International Energy Agency (IEA), more than 10.2 million EVs were in operation across the world in 2020. The surging adoption of these new-energy vehicles will thus support the automotive battery management system market growth in the coming years. 

Resultingly, according to P&S Intelligence, Asia-Pacific (APAC) dominates the automotive battery management system market, wherein China is the leading procurer of such solutions. The dominance of APAC can be credited to the favorable initiatives and policies supporting the production of EVs in China. Apart from China, Japan and India are expected to procure automotive BMSs in abundance. Among many initiatives, the increasing attempts by governments to end the production and sales of diesel- and gasoline-powered vehicles will support the adoption of such systems, by amplifying EV sales.

Thus, the surging EV sales on account of the escalating environmental concerns and strong government support will boost the adoption of automotive BMSs in the foreseeable future.

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Demand for Wound Closure Products Set to Explode in Asia-Pacific in Future

The increasing incidence of road accidents is one of the major factors fueling the demand for wound closure products around the world. The wounds caused due to accidents are usually exposed to debris, soil, bodily fluids, and microbes. Moreover, these wounds often result in tissue loss, which subsequently extends the body’s healing process. Apart from the rising prevalence of road accidents, the increasing occurrence of burn cases is also positively impacting the demand for wound closure products around the world. 

According to the American Burn Association (ABA), the U.S. witnessed nearly 486,000 burn injuries in 2011. Surgical intervention is usually required for healing these injuries. As wound closure products are heavily used in surgical procedures for closing the wounds caused due to surgical incisions, the growing incidence of burn cases is propelling their worldwide demand. Wound closure products assist in the management of wounds in both external and internal surgical applications. 

The growing prevalence of chronic wounds is also fueling the sales of wound closure products around the world. This is because surgical intervention is usually required for treating chronic wounds such as pressure ulcers, venous leg ulcers, and diabetic foot ulcers. Due to these factors, the demand for wound closure products is surging sharply across the world. This is, in turn, driving the advancement of the global wound closure products market. 

Sutures, surgical staples, wound closure strips, adhesives and tissue sealants, and hemostats are the major types of wound closure products used all over the world. Out of these, the demand for sutures was found to be the highest during the last few years. This was ascribed to the huge prevalence of chronic wounds and surgeries across the world. General, cardiovascular, orthopedic, gynecological, and ophthalmic surgeries are the biggest application areas of wound closure products.

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