Why will Sales of Plastisols Soar in Asia-Pacific in Coming Years?

The increasing implementation of flexible taxation policies on the export and import of plastisols by the governments of several countries is driving their sales across the world. Moreover, the large-scale commercialization of plastisols is also pushing up their worldwide demand. In addition, the governments of many countries are making the use of plastisol coating compulsory. For example, in industries, such as transportation, upholstery, and furniture, the utilization of plastisol coatings as flame retardants has been recently made mandatory in order to improve the safety of workers, as the mixture offers excellent fire and heat resistance. 

Besides, the expansion of the textile industry is also propelling the demand for plastisols. Plastic inks are being increasingly used in inking and coating of textiles, due to their opaqueness, excellent performance on various fabrics, and high cost-effectiveness. The mushrooming requirement for printed textiles, such as sweatshirts, cushions, printed tees, tote bags, jeans, jackets, bed covers, and several other apparels is driving the usage of coating inks in the textile industry. In addition, the growing preference of consumers for fabrics with attractive designs and colored patterns is also pushing up the requirement for plastisols. 

Many governments are enacting policies for supporting the expansion of the textile industry, which is also fueling the progress of the plastisols market. Apart from these factors, the increasing adoption of digital screen printing is also predicted to fuel the market at a CAGR of 7.5% during forecast period. Digital screen printing is basically a new process in which the printing operation on fabrics is processed via computers.

Depending on application, the market is divided into textile screen printing, adhesives and sealants, moldings, and coatings. Out of these, the textile screen printing category will register the fastest growth in the market in the coming years. This is ascribed to the ballooning use of textile screen printing in apparels. Geographically, the Asia-Pacific (APAC) region will be the fastest growing region in the plastisols market throughout the forecast period, as per the estimates of the market research company, P&S Intelligence. This will be because of the surging plastisol production capacity of various players based in the region.

Therefore, it can be said without any hesitation that the demand for plastisols will surge sharply in the forthcoming years, mainly because of the expansion of the textile industry and the rising adoption of digital screen printing across the world.

Share:

Surging Disposable Income of People Driving Saudi Arabian Fragrance Market

The Saudi Arabian fragrance market reached a revenue of $1,738.5 million in 2020, and it is predicted to exhibit a CAGR of 8.2% from 2020 to 2030 (forecast period). According to the forecast of the market research company, P&S Intelligence, the market will attain a value of $3,810.5 million by 2030. The market is being driven by the increasing consciousness of people toward personal grooming, surging number of gym-goers, growing research and development (R&D) expenditure, soaring disposable income of people, and rising digital marketing activities in the country. 

Saudi Arabia Fragrance Market Outlook


As per the Census and Economic Information Center (CEIC) data, the gross national disposable income in Saudi Arabia surged from $617,848.7 in 2016 to $658,493.5 in 2017. Additionally, as per the observations of the Saudi Arabian Monetary Agency, consumer spending increased from $80,067.9 million in the fourth quarter of 2020 to $83,916.1 million in the first quarter of 2021. The rising income of people is positively impacting the demand for premium fragrances in the country. Another major Saudi Arabian fragrance market growth driver is the soaring number of gym-goers in the country. 

Some of the major players operating in the Saudi Arabian fragrance market, such as Elizabeth Arden Inc., Arabian Oud, The Procter & Gamble Company, L'Oréal S.A., Avon Products Inc., Calvin Klein Inc., Symrise AG, Unilever Group, and The Estée Lauder Companies Inc., are focusing on partnerships in order to expand their customer pool. For example, Al Malki Group entered into a partnership with Estée Lauder Companies Inc. in January 2021 to get the exclusive rights to sell Tom Ford, Clinique, and Estée Lauder products at various stores in the country.

Hence, the sales of fragrances will shoot up in Saudi Arabia in the forthcoming years, mainly because of the rising consciousness of people toward looks, appearance, and personal grooming, soaring number of gym-goers, and surging disposable income of people in the country.

Share:

How Is Advancement in Battery Technology Supplementing Electric Bus Market Growth?

Factors such as the increasing environmental concerns due to surging greenhouse gas (GHG) emissions and improving operational efficiency of batteries and plunging battery costs are expected to propel the electric bus market at a vigorous CAGR of 14.9% during the forecast period (2021–2026). According to P&S Intelligence, 82,604 units of electric buses were sold in 2020. The burgeoning demand for these buses can also be ascribed to the long-term cost benefits offered by them.

Electric Bus Market - P&S Intelligence 


The electric bus demand is being driven by the declining costs and improving operational efficiency of batteries. This energy storage device accounts for approximately 40% of the production cost of such buses. Moreover, the increasing battery capacity, on account of continuous technological advancements, will also propel the demand for electric buses, as such batteries assist in meeting the rising need for a longer driving range. Currently, market players are working toward achieving higher energy density and reducing reliance on cobalt, which is an expensive raw material used in batteries, to boost the sales of electric buses.

Globally, Asia-Pacific (APAC) accounted for the largest share in the electric bus market in 2020, due to the presence of favorable government policies, such as tax rebates and discounts for replacing fossil fuel-driven buses with alternative  fuel variants. For instance, the Government of China provides a subsidy of up to RMB 500,000 (around $72,500) for fuel cell electric buses. Furthermore, the National Development and Reform Commission (NDRC), Ministry of Transport (MoT), Ministry of Finance (MoF), Ministry of Housing and Urban-Rural Development (MoHURD), and Ministry of Industry and Information Technology (MIIT) promote the adoption of electric buses in China.

Whereas, the North American electric bus market is expected to demonstrate the fastest growth during the forecast period, owing to the presence of stringent emission norms in the region. In North America, the U.S. generates higher demand for electric buses, due to the enormous subsidies, tax credits, and financial incentives offered by the federal and state governments. Additionally, government initiatives such as exemption of such new energy buses from vehicle emission tests and toll charges also contribute to the market growth in the U.S.

Therefore, the lowering cost and improving efficiency of batteries and rising concerns being raised over GHG emissions are the prominent growth drivers of the market.  

Share:

Retail E-Commerce Packaging Market To Prosper in Future

Valued at $23,987.7 million in 2020, the global retail e-commerce packaging market is expected to generate a revenue of $74,873.0 million by 2030. Furthermore, the market will demonstrate a CAGR of 12.1% from 2020 to 2030 (forecast period), as per the estimates of the market research company, P&S Intelligence. The market is being driven by the expansion of the e-commerce industry, on account of the increasing penetration of the internet and the changing buying patterns of people across the world. 

Additionally, the mushrooming population all over the world is also positively impacting the e-commerce industry, as people are increasingly buying various products from digital platforms. As per the United Nations Department of Economic and Social Affairs (UNDESA), the global population will surge from 7.7 billion in 2020 to 8.6 billion, 9.8 billion, and 11.2 billion by 2030, 2050, and 2100, respectively, with the addition of nearly 83 million people every year. The rising public preference for shopping from online channels over conventional retail stores is fueling the surge in the retail e-commerce business, thereby propelling the market to new heights.

China is witnessing a sharp surge in e-commerce sales, because of the rising public preference for online shopping, owing to the availability of a diverse range of products at affordable prices on digital platforms. The players operating in the retail e-commerce packaging market are focusing on collaborations and partnerships in order to strengthen their position in the industry. For example, Smurfit Kappa Group Plc entered into a partnership with World Wildlife Fund Colombia in August 2020 to improve forestry conservation efforts and expand, protect, and restore ecosystems and forests. 

Hence, it can be safely said that the market will register rapid expansion in the coming years, mainly because of the surging popularity of online shopping, owing to the increasing internet penetration and changing buying patterns of people all over the world.

Read More: https://www.psmarketresearch.com/market-analysis/retail-e-commerce-packaging-market-analysis

Share:

Asia-Pacific Graphene Market To Prosper in Coming Years

Due to the burgeoning requirement for graphene in electrical and electronics applications and the growing use of graphene in the healthcare sector, the global graphene market revenue is expected to rise from $84.7 million in 2020 to $1,188.8 million by 2030. Furthermore, the market will demonstrate a CAGR of 30.2% from 2020 to 2030 (forecast period), as per the estimates of the market research company, P&S Intelligence. Because of its various beneficial traits, such as high strength and electrical conductivity, graphene is being increasingly used in print circuits, transistors, and microchips. 

Moreover, the soaring utilization of flexible devices is further propelling the growth rate of the graphene market. In addition, the use of graphene in the healthcare sector is also surging, owing to the fact that it is ideal for use in the manufacturing of bioelectric sensory devices, because of its thinness and high strength. These devices are used for monitoring cholesterol, hemoglobin, and glucose levels and also in DNA testing procedures. Graphene is also useful for treating cancer cells and it is usually used in large volumes in therapeutic tools, prosthesis devices, and dental implants. 

Amongst these, the biomedical category is predicted to register the fastest growth in the market throughout the forecast period. This will be because graphene is extensively used in the biomedical sector, including diagnostic tools, cancer therapies, tissue engineering, biomarker, deoxyribonucleic acid (DNA) sequencing, transfer of genetic material, and implants. In addition, graphene is also heavily used in the combined domain of neuroscience and biomedical imaging and production of glucose, cholesterol, and hemoglobin-measuring devices. Geographically, the Asia-Pacific (APAC) region dominated the graphene market in the years gone by, and this trend is expected to continue in the upcoming years as well. 

This is credited to the surging use of graphene in composite materials, which are extensively used for manufacturing electrical and electronic devices, automobiles, and lightweight aircrafts, especially in emerging economies, such as India, China, and various Southeast Asian countries. Additionally, the surging investments being made in research and development (R&D) activities are also driving the progress of the regional market. Some of the major players operating in the graphene market are Angstron Materials Inc., The Sixth Element (Changzhou) Materials Technology Co. Ltd., Ningbo Moxi Technology Co. Ltd., Applied Graphene Materials plc., and Thomas Swan & Co. Ltd.

Thus, the demand for graphene will skyrocket in the upcoming years, primarily because of its extensive usage in the healthcare sector and the manufacturing of aircrafts, automobiles, and electrical and electronic devices across the world.

Share:

How Is Demand for Efficient Transit Options Strengthening Taiwan Micromobility Market?

The Taiwanese micromobility market is expected to advance at an exceptional CAGR of 61.3% during the forecast period (2021–2030), due to the increasing need to reduce traffic congestion and air pollution, mounting public focus on curtailing transportation costs, and burgeoning demand for efficient transportation systems for short distance commute in the country. According to P&S Intelligence, the market was valued at $47.3 million in 2020, and it is expected to generate $5,981.6 million revenue by 2030. 


At present, the people of Taiwan are constantly searching for efficient transportation systems for commuting short distances, owing to which, the market is growing at a considerable pace. City dwellers are consistently adopting transportation systems that bridge the surging gap between first- and last-mile connectivity, owing to the vast population, excessive traffic congestion, high vehicle cost, and scarce parking space in the country. To cater to this need, micromobility service providers are providing e-rickshaws, bikes, cycles, e-scooters, shared pods, and skates for the Taiwanese population. Currently, dockless bike sharing is one of the most preferred last-mile transit modes in the nation.

At present, the companies operating in the Taiwanese micromobility market are expanding their facilities to stay ahead of their competitors. For instance, in October 2019, WeMo Technology Co. Ltd., an e-moped rental share service providing company, expanded its reach in Kaohsiung city in Taiwan. In the initial phase, the player introduced 300 e-mopeds in the highly populous areas of Kaohsiung, such as Cianjhen, Nanzih, and Zuoying districts. Additionally, the company also plans to expand its fleet to 5,000 vehicles by 2022.   

Thus, the burgeoning demand for efficient mobility options for first- and last-mile connectivity and soaring need to curtail air pollution and decrease transportation costs will augment the demand for micromobility services in Taiwan in the years to come.   

Share:

How Is Rising Female Employment Driving U.A.E. Color Cosmetics Market Growth?

A number of factors, such as the growing disposable income of people, rising public consciousness regarding physical appearance, escalating demand for organic color cosmetic products, booming population of working women, soaring number of digital marketing channels and influencers, and mounting investments in advertising and marketing campaigns are expected to drive the U.A.E. color cosmetics market at a CAGR of 7.6% during the forecast period (2020–2030). The market was valued at $370.6 million in 2020, and it is projected to generate $769.7 million revenue by 2030.


Color cosmetics demand in the U.A.E. is currently driven by the increasing consciousness about physical appearance among people. The U.A.E.’s populace, especially young working females, is opting for eye shadow palettes, hair color products, nail paints, and lipsticks to enhance their physical appearance. Moreover, the increasing penetration of photo-centric social media networks is fueling the demand for such makeup products, as these networks increase the awareness about physical appearance among young working women and adolescents.

The product segment of the U.A.E. color cosmetics market is categorized into lip products, nail products, facial make-up, eye make-up, special effects products, hair color products, and others. Among these, the facial make-up category accounted for the largest market share in 2020 due to the soaring population of working women and millennial females and their surging focus on physical appearance. This gender is creating an extensive demand for natural facial color cosmetics, such as bronzers, highlighters, facial compacts, foundations, and blushes.

According to P&S Intelligence, Dubai held the largest share in the U.A.E. color cosmetics market in 2020 due to the surging per capita expenditure on cosmetic products, increasing availability of cosmetics on online channels, and growing female workforce in the city. Additionally, the presence of a more-cosmopolitan and richer population as compared to other cities contributes to the growth of the market in the emirate. Further, this emirate is currently hosting the World Expo, during which the demand for cosmetics will boom further.

Therefore, the increasing availability of new products, burgeoning population of working women, and rising penetration of social media platforms will fuel the consumption of color cosmetics in the U.A.E.
Share:

Popular Posts

Blog Archive