Why Are Automobile Manufacturers Using Methylene Chloride In Abundance?

Methylene chloride, an organic compound, is a volatile liquid with a moderately sweet aroma. The chemical formula of the organic compound is CH2Cl2. The compound is also known as dichloromethane (DCM) and is widely used as a solvent in paint removers. Additionally, DCM is also used in aerosol formulations, which are required in the production of pharmaceuticals, as an ethane foam blowing agent, and as a degreasing agent in the manufacturing of electronics. Furthermore, methylene chloride is also used as a fast-drying solvent cement for polycarbonate.

Moreover, the organic compound also serves as a key solvent in paint and adhesive formulations, due to its low flammability, excellent dissolving strength, and quick-drying properties. As the construction industry is one of the major end-users of paints and adhesives, large-scale development of infrastructure units such as buildings, bridges, and manufacturing units across the world, will fuel the methylene chloride market at a CAGR of 5.4% during forecast period. The market was valued at $1,818.3 million in 2017 and it is expected to reach $2,485.5 million revenue by 2023.

Additionally, the increasing consumption of paints and adhesives in the automobile industry, owing to the burgeoning automobile sales, will also fuel the need for methylene chloride in the coming years. For instance, the International Organization of Motor Vehicle Manufacturers (OICA) states that in 2020, 77,971,234 vehicles were sold across the world. OICA further mentions that 53,598,846 passenger cars and 24,372,388 commercial vehicles were sold in 2020. Moreover, the surging production of automobiles in developing countries such as India and China, due to the presence of a large manufacturing base, will also amplify the usage of DCM in the foreseeable future.

According to P&S Intelligence, APAC dominated the methylene chloride market in the recent past, due to the booming population and flourishing infrastructure sector in the region. Moreover, the emergence of new application areas of DCM, rapid penetration of manufacturing units in developing countries, and easy availability of raw material will also boost the production and adoption of the organic compound in the region. Additionally, the booming pharmaceutical sector in APAC will also fuel the consumption of methylene chloride in the forthcoming years.

Thus, the rising construction activities and booming automotive industry will augment the usage of methylene chloride in the foreseeable future.

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Why are Automotive Manufacturers Preferring Adhesive Tapes?

An adhesive tape refers to a continuous flexible strip made of metal foil, cloth, plastic film, or paper coated with a thin layer of permanent glutinous adhesive on one or both sides. Such tapes are available in the form of sheets or rolls of various sizes and are popularly known as tapes, sticky tapes, self-sticking tapes, and pressure-sensitive tapes. These tapes are increasingly being used for packing and binding the products related to the e-commerce, healthcare, and food and beverage industries.

The surging usage of tapes having adhesive properties, majorly in the form of protection tapes and double-sided tapes, in the automotive industry will accelerate the adhesive tapes market at a CAGR of 5.5% during forecast period. According to P&S Intelligence, the market value is expected to rise from $54,333.4 million in 2017 to 74,954.6 million by 2023. Currently, automakers are shifting from mechanical fasteners, such as screws and bolts, to adhesive tapes to reduce the weight of automobiles. Thus, with the burgeoning adoption of lightweight vehicles, the usage of such tapes will amplify in the coming years.

In the coming years, market players such as Nitto Denko Corporation, Shurtape Technologies LLC, 3M Company, Nichiban Co. Ltd., LINTEC Corporation, tesa SE, Avery Dennison Corporation, Lohmann GmbH & Co. KG, Intertape Polymer Group Inc., and Scapa Group plc will focus on the production of specialty tapes. This will be because of the surging requirement for these tapes in the automotive, electrical and electronics, construction and building, and healthcare industries, across various regions.

Geographically, Asia-Pacific adopted the highest quantity of adhesive tapes in the recent past, and it is expected to register the fastest growth in the adhesive tapes market in the foreseeable future. This can be ascribed to the surging use of these tapes in China and India, owing to the continuous research and development (R&D) and improvements in the automotive, healthcare, and electronics industries of these countries. Besides, the easy availability of cheap labor and low cost of raw materials have also fueled the production of adhesive tapes in the region. 

Thus, the rising utilization of tapes with adhesive properties in the automobile industry and increasing implementation of government regulations regarding eco-friendly tapes will propel the production of adhesive tapes in the coming years. 

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Rising Money Laundering Cases To Boost Anti-Money Laundering Market Growth

Factors such as the surging number of money laundering cases and mounting information technology (IT) expenditure will facilitate the anti-money laundering (AML) market growth during the forecast period (2021–2030). According to P&S Intelligence, the market generated a revenue of $2.4 billion revenue in 2020.

Moreover, the surging volume of digital payments, rising technological advancements, and mounting internet traffic will also accelerate the market growth in the foreseeable future. Financial institutions across the world are deploying AML solutions and services to mitigate money laundering incidents arising due to the increasing use of digital payments.

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Another primary factor catalyzing the market growth is the soaring number of money laundering cases worldwide. The rising incidents of such financial frauds can be attributed to the growing penetration of the internet and surging use of virtual currencies globally. Additionally, the rising preference for online banking services will also augment the demand for AML solutions in the foreseeable future.

Cybercriminals across the world are using internet banking platforms to facilitate money generation through drug trafficking and terrorist funding and make it appear to have come from a legitimate source. Moreover, the escalating focus of governments on mitigating cyberattacks and online financial frauds will also support the anti-money laundering market growth in the foreseeable future.

The burgeoning use of online banking services and rising internet traffic, and the booming number of unidentified payment services for digital transfer of funds, is encouraging governments to draft and implement stringent AML legislations and digital payment security norms to enhance control and security and ensure compliance by financial organizations.

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Why Are Surgeons Shifting To Surgical Glue?

Surgical glue refers to a synthetic or biological material used after traumatic injuries and surgeries for preventing liquid or air leakage in wounds. It is a special kind of medical sealant or adhesive that facilitates closing and healing of wounds and are capable of replacing staples and sutures in healing incisions and minor cuts. At present, the increasing incidence of plastic surgeries is creating a huge requirement for surgical glue worldwide. As per the International Society of Aesthetic Plastic Surgery (ISAPS), 1,795,551 breast augmentation, 1,704,786 liposuction, 1,259,839 eyelid surgery, 924,031 abdominoplasty, and 821,890 rhinoplasty procedures were performed in 2019. 

Moreover, the booming geriatric population will fuel the surgical glue market at a CAGR of 10.6% during the forecast period. The market revenue stood at $3,810.5 million in 2017 and it is expected to reach $6,936.5 million by 2023. The World Population Ageing 2020 report estimates that the population of people aged 65 years and above will surge from 727 million in 2020 to 1.5 billion by 2050. Elderly people are highly susceptible to cancer, diabetes, cardiovascular diseases (CVDs), and neurological disorders, which require surgeries to close incisions.

According to P&S Intelligence, North America will consume the highest volume of surgical glue in the foreseeable future, due to the huge investments being made in the research and development (R&D) of medical adhesives and increasing number of surgeries being performed in the region. For instance, the American Society of Plastic Surgeons (ASPS) reveals that 6,878,486 reconstructive surgical procedures, 13,281,235 cosmetic minimally-invasive procedures, and 2,314,720 cosmetic surgical procedures were performed in the U.S. in 2020.

Thus, the rising incidence of plastic surgeries, burgeoning aging population, and soaring cases of chronic diseases will augment the usage of surgical glues in the forthcoming years.

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Huge Surge Expected in Saudi Arabian Surgical Sutures Market till 2023

Due to the soaring number of surgeries and burn cases in Saudi Arabia, the demand for surgical sutures is expected to rise considerably in the coming years. Since the last few years, the prevalence of chronic diseases and other health problems has increased dramatically, and this is resulting in a huge rise in the number of surgeries being performed in the country. The other major factors pushing the demand for surgical sutures in Saudi Arabia are the surging geriatric population and rising healthcare expenditure.

Due to the above factors, the Saudi Arabian surgical sutures market is expected to grow from $16.7 million in 2017 to $20.6 million in 2023 and demonstrate a CAGR of 3.6% during the forecast period (2018–2023). There are two types of surgical sutures available in the market, namely absorbable sutures and non-absorbable sutures, of which the absorbable ones recorded higher demand in 2017. This is mainly attributed to the fact that such products do not have to be removed from the body after surgery, as they are easily broken down by the body through hydrolysis.

Therefore, due to the rising number of surgeries and burn cases and burgeoning number of hospitals and other medical facilities in Saudi Arabia, on account of the surging healthcare expenditure, the demand for surgical sutures is expected to increase significantly in the coming years.

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Advance Visualization Helping in Chronic Disease Diagnosis and Treatment

 Every year, cardiovascular diseases (CVDs) kill 17.9 million people, while cancer carries an annual mortality of 9.6 million, as per the World Health Organization (WHO). Other common chronic diseases with a high burden of morbidity and mortality are asthma, chronic obstructive pulmonary disease (COPD), Alzheimer’s, Parkinson’s, and a host of musculoskeletal conditions, such as atrophy and dystrophy, osteoporosis, osteopetrosis, and osteopenia. The effective diagnosis and treatment of these diseases require medical imaging, so that the doctor can take a peek inside the body to see what is really happening.

Thus, P&S Intelligence credits the increasing volume of medical imaging studies while forecasting an 11.3% CAGR for the advanced visualization market between 2017 and 2023. At this rate, the worth of the sales of such solutions will likely rise to $3,843.8 million by 2023. This is because such solutions are used by radiologists and doctors for a better look at the pictures generated by various diagnostic imaging modalities. Advanced visualization solutions essential help in the storage, sharing, transfer, and interpretation of diagnostic images, as well as in the real-time monitoring of the interior human anatomy.

Thus, a key reason for the rising volume of medical imaging tests and, in turn, the procurement rates of such solutions, is the increasing awareness of the early diagnosis of diseases. The outcomes for patients suffering from many chronic diseases, such as cancer and CVDs, often depend on how far advanced the disease is. Therefore, catching them as early as possible becomes important because beyond a certain point, the disease becomes incurable. For instance, stage 4 cancer, which is characterized by metastasis (spread of the tumor from the original site to other places inside the body), is mostly terminal.

Due to such technological enhancements, North America is the largest advanced visualization market presently. Driven by its developed healthcare infrastructure and affordability of the services as a result of people’s high disposable income and favorable reimbursement scenario, the continent accounts for one of the highest volumes of medical imaging studies in the world. Additionally, the rising geriatric population here is pushing up the incidence of chronic diseases, which is leading to the incorporation of advanced visualization solutions by the medical facilities in the region.

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Why Are Veterinarians Prescribing Organic Trace Mineral Products?

Trace minerals play a vital role in several metabolic functions in the animal body. These minerals can be derived from organic as well as inorganic sources. Inorganic trace minerals, such as sulphates, carbonates, chlorides, and oxides of elements, interact with tannin, fiber, silicates, oxalate, phytate, and other minerals in the gastrointestinal tract of animals, thereby affecting the feed absorption process. As organic trace minerals such as selenium, zinc, copper, and manganese improve gut absorption in animals, they are being increasingly used in animal feed. 

Organic Trace Minerals Market Outlook

As organic trace minerals also include iron, the surging iron deficiency among poultry and ruminants will help the organic trace minerals market register significant growth in the coming years. Additionally, the mounting focus of animal farm owners on strengthening animal immunity will create a huge requirement for minerals such as copper and manganese in the foreseeable future. Furthermore, the surge in the number of animal farms is propelling the demand for organic trace minerals, as veterinarians are increasingly recommending using these products in animal feed. 

According to P&S Intelligence, North America dominates the organic trace minerals market, due to the surging customer awareness about the advantages of organic products in the region. Additionally, the implementation of stringent environmental regulations is limiting the use of inorganic minerals, which is, in turn, fueling the adoption of organic trace minerals in the region. Furthermore, the Asia-Pacific (APAC) region is also adopting a considerable volume of organic trace minerals, due to the soaring consumption and export of milk products and meat in the region. 

Thus, the rising emphasis on animal health and enhanced productivity, escalating demand for milk products and milk, and growing prevalence of iron deficiency among animals will encourage the use of organic trace mineral products in the coming years.  

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