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

With the expansion of the pharmaceutical industry, on account of the burgeoning requirement for medical products, the demand for hexamine is rising sharply across the world. This is because hexamine is extensively used in various industries such as rubber, pharmaceutical, fuels, and explosives. Moreover, the surging population in several countries is majorly responsible for the growing poverty, which is fueling the rise in the incidence of diseases such as neurological diseases and urinary tract infections.

As hexamine is heavily used as an antibiotic for the suppression of bacteriuria in patients suffering from neurological diseases and the treatment of people suffering from urinary tract infections, the rising prevalence of these illnesses is propelling the demand for hexamine. This chemical is also used in the production of automobile tires, owing to its ability to act as an accelerator in the manufacturing of vulcanized rubber. Because of this reason, the surging sales and manufacturing of automobiles, due to the growing disposable income of people, particularly in China, are positively impacting its worldwide demand. 

This is, in turn, fueling the expansion of the hexamine market, owing to which, the revenue of the market is predicted to surge from $315.4 million in 2017 to $394.2 million by 2023. Furthermore, the market is expected to advance at a CAGR of 3.7% from 2018 to 2023. There are mainly two types of hexamine used across the world—stabilized grade and unstabilized grade. Between these, the demand for unstabilized grade was found to be higher in the years gone by.

According to the market research company, P&S Intelligence, one of the major trends currently being observed in the industry is the surging production of the material in Asia-Pacific (APAC). This is because of the existence of lenient policies regarding chemical production and the availability of affordable raw materials in the region. Many hexamine producers are rapidly shifting their production facilities to APAC countries, due to the implementation of strict environmental regulations by the governments of European and North American countries. 

Hence, it can be said with full confidence that the demand for hexamine will surge all over the world in the upcoming years, mainly because of the rising usage of the material in various industries and in plastic production processes.

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Fuel Cell Vehicles: Future of Green Mobility?

The implementation of strict emission norms and regulations regarding fuel-efficiency in several countries, on account of the escalating pollution levels and rapid deterioration of the environment, is positively impacting the worldwide demand for fuel cell vehicles. For example, the European Union intends to reduce vehicular emissions by as much as 80% by 2050, from the levels reported in 1990, by promoting the deployment of green automobiles. Furthermore, the U.S. Environmental Protection Act (EPA) was enacted for encouraging the adoption of fuel cell electric vehicles (FCEVs) in order to mitigate carbon dioxide emissions.

Several countries are also planning to ban the manufacturing and sales of diesel and gasoline-powered vehicles in the coming years. For example, the U.K., France, Norway, the Netherlands, and India aim to ban the manufacturing and sales of diesel and gasoline-powered vehicles in the coming years (over 2025–2040 period). These measures will support the expansion of the fuel cell vehicle market during 2019–2024. Apart from enabling environment-friendly transportation and providing higher fuel efficiency, fuel cell vehicles also provide an enhanced driving experience. 

Fuel Cell Vehicle Market Outlook

Geographically, the sales of fuel cell vehicles were observed to be the highest in North America during the last few years. The U.S. dominated the North American fuel cell vehicle market in the years gone by, as per the observations of P&S Intelligence, a market research company based in India. As the U.S. government is fully focused on stopping the manufacturing and sales of oil and gas-powered vehicles in the coming years, it is providing various financial incentives and implementing supportive policies for encouraging the adoption of new energy vehicles in the country. 

Thus, it can be said with surety that the sales of fuel cell vehicles will surge in the coming years, primarily because of the growing requirement for eco-friendly vehicles and the increasing implementation of stringent emission regulations by the governments of several countries in order to reduce the emission of greenhouse gases and mitigate the escalating pollution levels. 

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What Are the Evolving Opportunities for the Players in the Lip Cold Sore Treatment Market?

 According to the World Health Organization (WHO), the herpes simplex virus (HSV-1) is primarily transmitted through oral-to-oral contact, which further causes oral herpes and genital herpes. One of the prominent symptoms of HSV-1 is cold sores or herpes simplex labialis (HSL). Herpes infections are highly contagious when symptoms are visible but it can also be transmitted to other people in the absence of symptoms. Thus, the proliferating modes of HSV-1 transmission will augment the need for lip cold sore treatment procedures in China, Hong Kong, Taiwan, South Korea, and other Southeast Asian (SEA) nations.

Browse In-depth  Lip Cold Sore Treatment Market Companies’ Strategic Developments

People of China, South Korea, Hong Kong, Taiwan and other SEA countries also use creams and gels for treating cold sores. These products can be purchased from either pharmacies, grocery stores, and e-commerce platforms, or directly . In recent years, the sales of these products were observed to be the highest through pharmacies, due to the surging number of prescriptions. Doctors in these countries usually prescribe anti-cold sore treatment products for HSV-1 infections, which can be procured through pharmacies.  

Nowadays, lip cold sore treatment product producing companies, such as Perrigo Company plc, Blistex Inc., Kyungdong Pharmaceutical Co. Ltd., Li & Fung Ltd., Carma Labs Inc., Integria Healthcare (Australia) Pty. Ltd., Church & Dwight Co. Inc., Alliance Pharma plc, and Quantum Health, are actively engaging in mergers and acquisitions to cater to the needs of clinics, hospitals, and individuals residing in SEA nations. For example, in May 2019, Laboratoire HRA Pharma SAS acquired the global distribution rights of the Moderna brand, which consists of treatment products for scar and stretchmarks and skincare products.

According to P&S Intelligence, China dominated the lip cold sore treatment market in China and SEA, and it is expected to consume the treatment products at the highest rate in the forthcoming years. This can be primarily attributed to the soaring prevalence of HSV-1 infection in the rural areas of the country and the mounting public awareness about the disease in the nation. Additionally, the presence of leading treatment product manufacturers in the country is also expected to boost the adoption of such products in the foreseeable future.

Thus, the increasing ways of HSV-1 transmission and surging use of cold sore treatment patches in China and SEA countries will fuel the demand for lip cold sore treatment products in the forthcoming years.

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Surging Population of Geriatric People Fueling Demand for Active Pharmaceutical Ingredients

The surging population of geriatric people is driving the demand for active pharmaceutical ingredients across the world. According to the World Population Ageing 2020 report published by the United Nations Department of Economic and Social Affairs (UNDESA), the population of people aged 65 years and above will rise to more than 1.5 billion by 2050. Across the globe, the share of geriatric people in the total population surged from 6% in 1990 to 9% in 2019, and it is expected to rise to 16% by 2050. 

Get Deep Analysis With Revenue Estimation - Active Pharmaceutical Ingredient Market 

Geriatric people need extensive care, as they are more vulnerable to diseases and require a longer recovery time, because of their low immunity levels. Hence, in order to cater to the escalating requirement for drugs for treating various disorders and diseases in geriatric people, the demand for active pharmaceutical ingredients is soaring. Apart from this, the rising incidence of chronic illnesses, such as cancer and diabetes, is also fueling the expansion of the active pharmaceutical ingredients market, which is expected to witness a surge in its value from nearly $190 billion in 2020 to around $300 billion by 2030.

Depending on the type of producer, active pharmaceutical ingredients are classified into merchant and captive. Between these, the demand for captive active pharmaceutical ingredients was found to be higher during the last few years, and this trend is predicted to continue in the forthcoming years as well. This is attributed to the surging investments being made by major active pharmaceutical ingredient producing companies in various state-of-the-art production facilities and the greater ease of availability of different raw materials. 

Hence, it can be safely deduced from the above paragraphs that the sales of active pharmaceutical ingredients will shoot up in the upcoming years, mainly because of the mushrooming population of geriatric people, growing incidence of chronic diseases, and soaring healthcare expenditure of several countries around the world. 

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Surging Need for Residential and Commercial Spaces Driving India Interior Design Market

A number of factors, such as the rising number of real estate activities, growing population, rapid urbanization, surging disposable income, and increasing government initiatives to boost the construction sector, are projected to propel the growth of the Indian interior design market during the foreseeable period (2021–2030). According to P&S Intelligence, the market generated revenue of $22 billion in 2020, and it is projected to witness significant growth in the coming years. Moreover, the market is witnessing a trend of the increasing demand for theme-based offices and home interior designing, in the country.

One of the prime factors propelling the market growth in India is the surging government support to boost the construction sector. For instance, the construction industry in the country grew at a CAGR of 5.6% during 2016–2020 and it attracted institutional investments of $5 billion in 2020. Moreover, the industry is projected to appear as the third-largest market in the world by 2025. Thus, it is essential for the central government, in association with state governments, to support the development in the real estate sector, which, in, turn, driving the need for interior designing services.

Geographically, North India held the largest share in the Indian interior design market in 2020, and it is projected to lead the market during the forecast period as well. This is ascribed to the growing urbanization rate, surging investments in the real estate sector, mounting number of national and international corporate offices in the Delhi-National Capital Region (NCR), and rising number of housing projects introduced by public organizations and private builders, in the region.

Thus, the rising need for residential and commercial spaces and the increasing government support for the construction industry are projected to propel the market growth in India during the foreseeable period.

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How Is Food Preservative Industry Supporting Chitosan Market Growth?

Factors such as the rising consumption of chitosan in the biomedical, wastewater treatment, agrochemical, food and beverage, cosmetic, and bioplastic industries and increasing research and development (R&D) activities being carried out in this compound are expected to facilitate the chitosan market growth during the forecast years (2021–2030). According to P&S Intelligence, the market was valued at ~$1.8 billion in 2020. Chitosan refers to biodegradable and non-toxic sugar, which is derived from the hard outer skeleton of crab, shrimp, and lobster.

One of the primary growth drivers for the market is the burgeoning demand for bioactive materials in the biomedical industry. Pharmaceutical companies are increasingly using chitosan to manufacture bioactive materials such as sponges, hydrogels, fibers, and films, due to its biocompatibility. Additionally, the large-scale consumption of this chemical in drug delivery systems, owing to its ability to enhance the water solubility and stability of drugs, reduce enzyme degradation, and prolong cycle time. The advantageous properties of chitosan, therefore, help in improving the effectiveness and safety of drugs. 

Geographically, Asia-Pacific (APAC) held the largest share in the chitosan market during the historical period, and it is also expected to demonstrate the fastest growth throughout the forecast period. This can be attributed to the chelating feature of chitosan, which makes it ideal for the treatment of heavy-metal-laden industrial effluents. Moreover, the increasing R&D activities being conducted in chitosan and the surging incidence of chronic diseases will also augment the market growth in the region in the forthcoming years.

Thus, the rising consumption of chitosan in the biomedical and food and beverage industries will support the market growth in the upcoming years.

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What Is Seed Treatment, and How and Why Is It Done?

The population, especially of developing countries, is growing rapidly, which is set to play a key role in the boom of the global population from 7.7 billion in 2019 to 9.7 billion by 2050, says the United Nations (UN). This is propelling the demand for food, the production of which is already not enough to feed the current population, and its growth is driving the rate of starvation. There are a number of reasons for inadequate crop yield, including pests and diseases, natural calamities, and urbanization and reducing farming area.

P&S Intelligence considers all these factors while forecasting significant growth of the seed treatment market revenue from around $6 billion in 2020. This is because coating or injecting seeds with chemical and biological agents makes them impervious to microbial diseases, helps ward of pests, and improves their germination. Thus, with the agrarian community turning to advanced techniques to boost the crop yield, the consumption of such agents will only increase.

Apart from food crops, seed treatment is done for cash crops, such as oilseeds, cotton, tea, coffee, and those now being used to produce biofuels. In this regard, the surging concerns over the greenhouse gas emissions due to the consumption of fossil fuels and their diminishing reserves, are driving the demand for biofuels, such as bioethanol and biodiesel. Such products are produced by fermenting the sugar found in sugarcane and other starchy plants, for which the feedstock must be of high quality, thus boosting the need for seed treatment.

Presently, Asia-Pacific (APAC) is the largest seed treatment market because it is home to some of the most-agriculturally productive countries in the world, including China, India, and Vietnam. Additionally, these are also countries with huge populations, which is why the problem of starvation and malnutrition has always been big here. As a result, farmers in the region are doing all they can to boost their crop yield, especially in the face of the expanding cities, which are taking up arable land.

Thus, with the booming population and food demand, the practice of seed treatment will continue to find takers.

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