Why Does APAC Hold Largest Share in Lithium-Ion Battery Market?

Due to the increasing demand for renewable energy and the high adoption of lithium-ion batteries in consumer electronics, the global lithium-ion battery market was worth $46,142.1 million in 2021. By 2030, with a high CAGR of 15.3%, the market size is expected to reach $165,847.8 million. The key factors responsible for the rising usage of these energy storage devices include a growing focus on environment-friendly practices, rising energy demand, and low operating and maintenance cost of lithium-ion batteries.

In 2021, Li-NMC versions accounted for 31.4% of the total lithium-ion battery market revenue. Because of their long life, large storage capacity, and excellent temperature stability, Li-NMC batteries are mainly utilized in electric vehicles and consumer devices. Moreover, battery researchers and designers are concentrating their efforts on reducing the cobalt percentage in the NMC cathode, which will decrease the cost of the battery and propel the market in the coming years. Furthermore, because these energy storage systems have high specific energy, most automotive businesses use them in EVs.

According to the United Nations, transportation networks have a substantial environmental impact, accounting for around 25% of the worldwide greenhouse gas emissions. As a result, governments are encouraging the usage of EVs to achieve a sustainable and environment-friendly lifestyle. Furthermore, as a result of the increasing oil costs, the demand for EVs has risen considerably in recent years, thus favoring the lithium-ion battery market. For example, the price of diesel has risen from $2.56 per gallon to $3.54 per gallon from 2020 to 2022, as per the U.S. Energy Information Administration.

The existing production capacity needs to be significantly increased, which presents an opportunity for businesses looking to invest in the lithium-ion battery market in certain locations. The acceptance of these solutions across a wide range of applications would be catalyzed by the lowering component prices, mass production, and the adoption of innovative technologies to enhance battery capacity and decrease the price. The cost of lithium-ion batteries has dropped by 85% in the last decade, thus making EVs and energy storage devices financially viable.

Li-ion battery recycling trends, favorable government legislations, advancements in environment-friendly technology, and expanding investor stake in the business are all contributing to an increase in the worldwide production of sustainable alternatives. Because of their high specific power/energy density, lithium-ion batteries have overcome the intermittency difficulties connected with renewable energy. They may be used to store the excess energy produced by wind and solar facilities during low-demand periods and then sell it to the market when the demand spikes.

In 2021, the APAC lithium-ion battery market earned $24,586.2 million in sales and held the largest share. Consumer electronics sales are rising in the region, which is boosting industry development. The use of these batteries is also aided by the fast technological advancements and increasing demand for smart gadgets. Moreover, electric car prices are decreasing in the region, thereby increasing the use of lithium-ion batteries in South Korea, India, Japan, and China.

Hence, the low maintenance and operating cost of lithium-ion batteries are propelling the market growth.

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Why Water-Based Adhesives will Help in the Growth of Construction Adhesives Market?

In 2021, the worldwide construction adhesives market was valued at $9,101.5 million and it is projected to touch $14,541.9 million by 2030. The market will advance at a CAGR of 5.3% from 2021 to 2030 due to surging demand for low volatile organic compound content adhesives, such as water-based adhesives and pressure-sensitive adhesives, along with the expanding construction sector. The growing population all around the world, coupled with the rising disposable income will help this market to grow because people will be able to purchase more residential and commercial spaces. 

Under the segmentation of type, the acrylic construction adhesives ruled the construction adhesives market in 2021 with the revenue, accounting for $3,862.3 million revenue. This is predicted to advance at a CAGR of 5.7% from 2021 to 2030 owing to the robust growth of the construction sector in the MEA and APAC regions. There is a strong preference for this category due to its high water-resistant capacity and strong bonding with substrates. Furthermore, polyurethane adhesives are projected to generate the second-highest revenue in the coming years due to their binding capacity with almost every substrate from wood to plastic.

 In 2021, the APAC construction adhesives market generated approximately 45% of the total revenue the construction adhesives market. This can be ascribed to significant economic growth, swift urbanization, growing population, rising disposable income, and consequently, surging consumer purchasing parity will drive the market. Moreover, increasing government investment in infrastructure and rising demand for low volatile organic compound content adhesives propels the market growth. Approximately, $13 trillion will be invested by China in the construction sector by 2030. 

Nevertheless, North America is predicted to generate the second-highest revenue share in the construction adhesives market, advancing at a CAGR of about 5.1% in the forecast period. This can be credited to technologically-advanced adhesives availability and their integration in cladding applications, insulation, roofing, and waterproofing. Additionally, the surging requirement for adhesives offers cracks prevention on airport runways and highways and safeguard buildings from uncertainties of weather. All of this together will drive market growth in this continent.

Hence, boost in the construction sector, swift urbanization, growing population, and rising disposable income will spur market growth.

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How Is Refractories Market Expanding due to Infrastructure Development?

The estimated revenue of the global refractories market was $27.8 billion in 2021. The expected CAGR for the industry from 2021 to 2030 is 4.7%, with which the market size will reach $42.2 billion in 2030. Refractories are natural and synthetic materials, including non-metallic materials or combinations of compounds and minerals, such as bauxite, chromite, fireclays, zirconia, and silicon carbide. They are used to line the surfaces of furnaces, which are widely used in the metallurgy sector for casting, sintering, and smelting.

The primary driver for the global refractories market is infrastructure development, increasing usage of non-ferrous materials, and growing glass industry. Refractories are primarily used for furnace linings and other applications due to their thermomechanical properties and resistance to high temperatures. They can tolerate temperatures ranging from 500 °F to 3,326 °F, which is higher than most other elements’ melting points. The melting temperature of pure refractory materials usually ranges from 3,300 °F to 6,000 °F.

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The largest refractories market share was held by bricks and shapes, of 60%, under the form segment, owing to the high demand for this form in the metal and non-metal industries. The insulation layer within the ovens and kilns is built of refractory bricks. It has to be replaced regularly depending on the insulation requirements of customers, which is why bricks hold the most-significant proportion of the market. Refractory bricks are made of ceramic material and possess various properties, such as strong insulation and heat resistance.

The largest refractories market is APAC, accounting for $17 billion in 2021. The World Steel Association reports that APAC accounts for 70% of the worldwide steel output, with China alone responsible for around 50% of the production. It produced over 1,000 million tons of crude steel and more than 1,300 million tons of steel products in 2020. Moreover, the steel industry in India is driven by the domestic availability of raw materials (iron ore) and cost-effective labor. One of the most-significant factors behind the dominance of APAC on the global market is the growing non-ferrous metal industries.

Therefore, the need for heat resistance is the major driving factor for the surge in the demand for refractory materials across industries.

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Why Will Residential Category Dominate the Fiber Cement Market From 2021 to 2030?

By 2030, the global fiber cement market is predicted to reach $27,743.8 million, since being valued at $17,500.0 million in 2021. The market is projected to advance at a 5.3% CAGR from 2021 to 2030. This can be ascribed to the surging requirement for fiber cement for external and internal residential applications. Moreover, the substantial rise in the residential sector will propel market growth. Furthermore, the magnificent properties of fiber cement, including stability, durability, better strength, fire-aversion, and water-aversion characteristics are skyrocketing the market demand.

A gradual shift toward green building will spur the fiber cement market growth. Contrary to asbestos, fiber cement is an environmentally sustainable substitute. Owing to its environmental benefits, national governments have constrained asbestos use and imposed a ban on it, promoting the usage of fiber cement. For instance, the European Union had banned the use of asbestos in new products for its hazardous impact on health.

Extensive government support for green construction and buildings will pave the way for fiber cement market growth. For instance, there is an evolution of environment-friendly and green community facilities by the Government of Canada all around the country via new constructions, repairs, retrofits, and upgrades. Similarly, Mexico is also following the green building trend by taking the right lessons from the U.S., Canada, and European countries. This would not only assist in reaping the health benefits of environmentally sustainable buildings but also save money.

APAC is expected to continue this trend in the coming years growing at a 6% CAGR. The region is home to various emerging economies in the world which have a vision of creating lucrative opportunities to boost the infrastructure. Furthermore, the growing population, rising disposable income, surging purchasing power parity among the consumers, greater FDI, and rising awareness about hazardous asbestos use will augment growth in the region. For example, the Chinese government-sanctioned 26 infrastructure projects worth $142 billion in 2019 that are expected to be finished by 2023.

Hence, substantial growth in the residential sector and surging requirements for fiber cement for external and internal residential applications will drive the market.

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Where Will Growing Mining Sector Take U.S. Engine-Driven Welder Market?

The growing requirement for engine-driven welders to suffice the dual purpose of producing power and welding in the mining industry and rising construction activities are driving the U.S. engine-driven welder market. Hence, equipment sales generated $122.3 million in 2021, and this number will likely grow to $185.8 million in 2030, with a 4.8% CAGR from 2021 to 2030. There has been a significant rise in the usage of improved engine-driven welders owing to manufacturing companies' development of small, light, and efficient products.

Due to the pacing up of mining activities across the country, the demand for such systems is likely to expand rapidly. The value of the raw mineral produced by the country in 2020 stood at $90,000 million, growing by another $10,000 million, or 10%, in one year. Moreover, a surge in the need to repair mining equipment propels the U.S. engine-driven welder market advance. Mining companies prefer such welders owing to their dual operational capability for prime and backup power supply, in addition to their primary purpose of welding.

The construction sector also utilizes engine-driven welders for various purposes, concerning their dual usage. Therefore, as construction activities are likely to increase in remote areas without any surety of power availability, the U.S. engine-driven welder market will only grow. Due to their application for supplying power when there is no ensured availability of electricity and serving as a welding machine simultaneously, they have become widely common in construction sites.

The sales of engine-driven welders with a power output of 300 to 399 Amperes continues to rise in the country. The primary factor behind such  U.S. engine-driven welder market growth in this category is their rising usage in the construction, pipeline, structural steelwork, and maintenance and fabrication applications. Farmers also widely use 300–399A engine-driven welders for equipment repair and fabrication applications. This is why this power rating category will likely witness the fastest growth, at a 5% CAGR, in the coming years.

Thus, the construction sector has benefitted the market due to the numerous infrastructure projects backed by the government of the country.

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Australia Ventilation Products Market Is Set To Reach $1,003.9 Million by 2030

 In 2021, the Australia ventilation products market accounted for $569.4 million in revenue, and it is predicted to reach $1,003.9 million by 2030, advancing at a 6.5% CAGR between 2021 to 2030. The increasing number of residential and commercial projects, rising awareness of the health and environmental implications of polluted air, and growing demand for decentralized ventilation are contributing to the market expansion.

Essentially, the key aspect driving the market growth is the increasing population. For example, the total construction output in Australia increased by roughly 0.5% in June 2021 as compared to June 2020. The residential sector was worth roughly $14 billion, while the non-residential industry was worth around $8 billion. 

Key Findings of Australia Ventilation Products Market Report

• In 2021, the ventilation fans category led the Australia ventilation products market, and this is likely to continue over the forecast period. This is because these fans are often installed in commercial spaces.

• In 2021, the commercial category accounted for over 70% share of the Australia ventilation products market. Economic growth and rapid urbanization have contributed to the increase in the number of hotels, offices, malls, and hospitals, thus surging the demand for ventilation solutions.

• As compared to centralized ventilation, decentralized ventilation offers numerous benefits. Decentralized ventilation enables the system to meet the demand of each zone in terms of indoor air quality. 

• Furthermore, decentralized systems can improve ventilation efficiency by removing pollutants closer to the source, reducing the volume of supply air needed, and the energy required to condition and distribute it. These systems are advantageous because each component of a building's ventilation system may be operated individually.

• Fantech Pty. Ltd. launched a new range of Trade sweep fans in January 2020. They are compatible with Fantech Trade's newest invention, the "AeroGlide System." There are four variants available: black and white, LED and non-LED, and an IP55-rated type for outdoor use.

• Vent-Axia Group Limited and Ventair Pty. Ltd. announced their collaboration in August 2019. Ventair became a new supplier of the Vent-Axia in Australia as a result of the cooperation.

Due to the increasing carbon emissions, rising pollution levels, and advancing awareness toward maintaining a sustainable and healthy environment, the demand for green/smart buildings is growing. Water conservation, energy efficiency, waste reuse and recycling, greenhouse gas emission reduction, and natural resource use minimization are all examples of green building practices.

The Australia ventilation products market is highly fragmented. To gain a competitive edge, players have entered into partnerships and launched new products in recent years. These players are Vent-Axia Group Limited, Fantech Pty. Ltd., Johnson Controls International Plc, Carrier Global Corporation, Panasonic Corporation, Ventair Pty. Ltd., LG Electronics Inc., Samsung Electronics Co. Ltd., Daikin Industries Ltd., and Mitsubishi Electric Corporation.

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Madagascar Diesel Generators Market To Reach $27,755.7 Thousand in 2030

The Madagascar diesel generators market was valued at $21,429.8 thousand in 2021, and the market will propel at a 2.9% CAGR during 2021–2030, to reach $27,755.7 thousand. The speedy growth in the construction and telecom sectors and the intensification in the incidence of power cuts are the main factors accountable for the growth of the market. 

According to the World Bank, only about 27% of the population of Madagascar had access to electricity in 2019, which is one of the primary reasons for the increasing requirement for diesel gensets in the mining, telecom, construction, and residential sectors.

The telecom sector of Madagascar has profited from the snowballing rivalry among key operators such as Orange Madagascar, Airtel, and Telma. In 2021, the government relaxed the excise duty on telecom products to 8% from 10%, which is advantageous for customers. This opened the gates for a high requirement for diesel generators set in telecom towers to cope with the high-frequency power cuts.

Key Findings of Madagascar Diesel Genset Market

• The 15–75 kVA category held the largest share, of approximately 42%, in 2021. This is due to the increasing use of these gensets in residences, small industries, restaurants, hotels, telecom towers, and commercial complexes. 

• Furthermore, the 376–750 kVA category is the second significant contributor to the Madagascar diesel genset market.  The primary reason for this is the high requirement for these generators in industries and commercial complexes.

• The commercial application category is likely to grow at the highest rate in the years to come, propelling at a 3.9% CAGR. This can be primarily due to the constant advancement in the construction sector.

• The Madagascar diesel genset market is likely to be boosted by the increase in the requirement for power backup in the commercial and residential sectors and the development of the mining and construction industries.

• Power consistency is an important prerequisite for Madagascar’s economic development. Thus, the requirement for energy among public institutions of the country has augmented, to improve the eminence of the services provided to people.

• Key firms in the Madagascar diesel genset market are taking part in partnerships and alliances with the intention of staying ahead of their competitors. For example, Green Energy Solutions (GES) and Colas Madagascar entered into a collaboration in April 2021 to construct a hybrid power plant driven by solar energy for Colas Madagascar at the Ambokatra quarry and offer construction supplies within the country.

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