Rising Number of Smart Cities Boosts APAC Solar Street Lighting Market

 The APAC solar street lighting market was USD 2,315.9 million in 2023, which will rise to USD 6,691.2 million, advancing at a 16.4% CAGR, by 2030.

The growth is mainly because of the reducing costs of such solutions, the growing count of smart cities, and the increasing urbanization in emerging economies.

The centralized category, on the basis of structure type, led the industry. This can be because of the increasing on-grid based solar streetlight disposition that gets a constant electric source from a grid to fuel lights at a great illumination.

The standalone category, on the other hand, will advance at the highest rate, of 16.6%, in the coming years. Companies in this sector have been working on heat-resistant, off-grid standalone lighting solutions, which have resulted in the enhancement of the function of these lighting types, making them more accessible.

The solar panel category, based on component, was the largest contributor to the APAC solar street lighting market in 2023, with a 35% share. This can be because it is essential for the operation of entire street lighting via renewable energy. 

The new category, based on installation, will advance at the fastest rate, of 16.8%, in the years to come. This will be because of the rising government initiatives for LED light installation in this region, particularly in China and India.

The highways & roadways category, on the basis of application, led the industry in 2023, with a 25% share. This can be mainly because of the rising government emphasis on developing high-class infrastructure and the increasing placement of outdoor lighting on roadways and highways.

China led the industry, and it is likely to advance at a 17.0% compound annual growth rate, in the coming years. This can be mainly because of the continuing building of several highways, streets, flyovers, and airports; and the increasing urbanization.

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APAC Has Significant Position in Semiconductor Chemicals Market

The size of the semiconductor chemicals market was about USD 12.5 billion in 2023, and it will power at a growth rate of 12.5% by the end of this decade, to touch a total value of USD 28.3 billion by 2030. 

Furthermore, the progressing semiconductor technologies, for example complex designs, and the evolution to smaller nodes require the expansion of new chemicals, for meeting the needs for miniaturization, competence, and performance.

The rising requirement for cutting-edge technologies and products, such as 5G, autonomous automobiles, and AI, has formed a high demand for semiconductor components that can endure high temperatures and other extreme conditions.

APAC semiconductor chemicals market has a substantial position, and it will reach a value of over USD 6 billion by 2030. This is credited to the mounting automotive sector and the increasing production of semiconductors. 

The requirement for semiconductors is one of the biggest trends, and because of it, the industry is rising at a substantial rate. This is because of their vital role of powering electronic appliances, for example smartphones, tablets, and laptops. Consequently, this trend is shaping the requirement for supreme chemicals that allow higher accuracy in the wafer fabrication process, augmented production, and cost-efficiency.

 Due to the growing use of electronic devices all over the world, the demand for semiconductor chemicals is on the rise. This trend will continue in the years to come as well.

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Synthetic Fuels Market was Led by the APAC Region

The synthetic fuels market size was USD 48.6 billion in 2023. Further, by the end of this decade, it will power at a compound annual growth rate of 5.6%, to touch a value of USD 70.6 billion by 2030.

The transportation category, has 40% share in 2023. The use of EVs is snowballing rapidly at the global level, but the transportation sector still hinges on heavily on fossil fuels. Moreover, ICEs provide added advantages in heavy automobiles and sports cars, or even in remote areas, where the supply of power is insufficient.

The industrial category also has a substantial share in the industry. According to reports, the CO2 emissions of the industrial sector in 2022 were 9 Gt, where electricity and heat generation contributed 15.83 billion tonnes of emissions. This is for the reason that fossil fuels have wide use in industries as energy sources and raw-materials.

Likewise, natural gas is used throughout the manufacturing of dyes, fertilizers and plastics, along with in glass foundries and aluminum smelters, both as a natural resource and energy source.

The APAC synthetic fuels market is the leader of the pack, with a share, of about 50%, in 2023. Asia has numerous emerging economies, most of which are also highly contaminated. To advance the air quality, these nations are working tirelessly to decrease GHG emissions, by introducing guidelines for industries and at the individual level. Moreover, governments are taking measures to organize actions to manufacture 2G ethanol at scale.

 It is because of the active participation of private players in research and development, and the growing number of initiatives of the government all over the world, the demand for synthetic fuels will keep on increasing in the years to come.

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Glass Bonding Adhesives Market Will Reach USD 6,857.8 Million By 2030

The value of the glass bonding adhesives market stood at USD 3,891.3 million in 2023, and this number is projected to reach USD 6,857.8 million by 2030, advancing at a CAGR of 8.7% during the projection period. 

The development of the industry can be mainly credited to the fact that with the utilization of such agents, the glass remains smooth, as there will be no noticeable screws, protruding nuts and bolts. Furthermore, such materials offer shield against corrosion and own brilliant cohesive strength. 

Basically, the rising construction activities throughout the globe are projected to drive the industry. This is credited to the needed characteristics of such materials such as chemical inertness, rigidity, non-yellowing nature, and resilient against moisture.

The UV-cured type grips the major share, of approximately 30%, credited to its elasticity and high tensile forte. Furthermore, such variants are robust, optically clear, fast-curing resilient to changing weather situations, and simple to use, and they also have lesser processing expanse.

The automotive and transportation sector is the largest end user, as adhesives are being utilized to link light in weight materials, for reducing damaging releases by decreasing the weight of the vehicle. It has been estimated that more than 2 million quadricycles, threewheelers, passenger vehicles and two-wheelers were made in India in March 2023 alone. The need for vehicles is growing due to the existence of a huge youth populace, coupled with the middle-class’s increasing income.

The APAC region is dominating the glass bonding adhesives industry, and the region is projected to hold the dominant position during the projection period with a value of USD 3 billion. This can be credited to the quick urbanization, rising healthcare industry, and increasing expenditure in the construction sector.

In APAC, China grips the dominant position, and it will advance at a CAGR of 9% during the projected period. This is can be credited to the rising construction activities and growing sales of vehicles. Additionally, in Indonesia, China, India, and Thailand, the growth of automobiles entails lower spending. Armed with the financial backing of the government, this reason continues to fuel the regional automotive sector.

This market is being driven by the increased application of glass bonding adhesives in electronic devices such as cell phones. The demand for glass bond adhesives is being driven by an increase in the use of smartphones, computers, Digital Cameras and other consumer electronics.

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Polymeric Category Had the Major Share in the Nanofiltration Membrane Market

The size of the nanofiltration membrane market was USD 998.9 million in 2023, and it will grow at a compound annual growth rate of 11% by the end of this decade, to touch a total value of USD 2,051.7 million by 2030. 

The polymeric category held the major share, of 40%, because of the use of these variants in the sterilization and water softening. The polymeric type functions at low pressures, for offering extremely effective filtration, because of which it can be used in treating wastewater. 

Due to the growing requirement for freshwater safe for human consumption all over the world, the requirement for more than a few filtration methods has risen substantially. Regarding this, the fast urbanization, growing populace, and swift industrialization support in the category progression.

The hybrid category is also observing a considerable growth in the nanofiltration membrane market, credited to the low hydraulic pressure, quick flux recovery post cleaning, and less flux decline, which is resulted by membrane fouling. Also, the category is on the rise owing to the higher penetrability and the disregard of the necessity for pretreatment and chemical-based cleaning related to these variants.

These membranes offer a higher filtration rate and work at low pressures. Also, they make use of less energy as opposed to an RO system, since the former offers a higher flux.

It is assessed that in 2020, about 45% of the wastewater produced in households was discharged deprived of safe treatment. For treating it by removing pollutants, for example organic substances, heavy metals, and ions; and decolorizing and softening it cost-efficiently, nanofiltration membranes are employed in high numbers.

Governments at a global level have implemented quite a few rules and guidelines and taken more than a few initiatives to create consciousness among people of the costs of the pollution and depletion of freshwater on earth.

 It is because of the rapid urbanization all over the world and growing pharma sector, the demand for nanofiltration membrane is rising considerably. What’s more, the trend will also continue in the years to come.

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APAC Is Dominating the hydrogen Generation Market

The world market for hydrogen generation is estimated to be worth USD 169.3 million by 2023 and will grow at 9.4% per annum between 2024 and 2030 with an expected value of 315.3 million USD by 2030.

This development of the market can be credited to the growing need for this gas for fuel-cell electric vehicles, aircraft, and rockets. These days, the acceptance of hydrogen is growing in new applications, like heavy-duty EV trucks in China, the steel sector, commercial airplanes and their auxiliary power units, and hydrogen trains, which are in progress in Germany.

During the projection period, transportation is projected to be the fastest-advancing category, at a CAGR of 10.0%. The growing emphasis on decreasing carbon emissions from the transport industry is the major propelling reason for the increasing demand for this clean fuel. 

For example, NewHydrogen has made a generator that utilizes renewable power and water to produce low-cost green hydrogen. Similarly, North Carolina State University has made a new method for extracting hydrogen gas from liquid carriers, which is quicker, less expensive, and more effective than the previous methods.

In 2023, the APAC region is expected to be the world's largest market with USD 0.09 billion in revenue; it will continue to grow at a double-digit rate until 2030. Increasing use of FCEVs, consistent with a growing emphasis on hydrogen as an economic method and increased H2 production, are key factors that have boosted the growth in the market for hydrogen generation in this region. There are more than 100 oil refineries in the Asia Pacific region.

The need for H2 in North America is projected to advance at a substantial rate, because of the increasing need for it for petroleum refining. Moreover, the money for hydrogen research and development rose by over 30% in 2021 compared to 2020, and there are more than 130 refineries in the U.S.

Hence, the hydrogen generation industry is propelled by the growing focus on cleaner fuels for producing heat and electricity.

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Veterinary Equipment and Disposables Market was Led by Companion Animals

The size of the veterinary equipment and disposables market was USD 2,515.9 million in 2023, and it will propel at a rate of 9.2% by the end of this decade, to touch USD 4,620.4 million by 2030.

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This has a lot to do with the increasing prevalence of zoonotic ailments, growing acceptance of companion animals, and mounting requirement for improved veterinary critical care. Cutting-edge technologies, for example wearables, can come good in tracking the pet’s health from infancy, through childhood and maturity, to old age.

Veterinarians employ wearable technologies, such as GPS systems, radiofrequency identification systems, and other sensors tracking the food intake, activity levels, and vitals, for pet monitoring.

Consumables led thew industry with a share of 60%, because of the increasing animal care spending and the snowballing count of sterilization procedures, needing high volumes of consumables.

Furthermore, they are employed for more than a few applications, such as wound management and airway management.

The rescue & resuscitation category in the equipment sub-segment will observe a significant growth in the future. This is because of the increasing frequency of cardiopulmonary arrest in dogs and cats, which requires fast patient valuation and an instant CPR administration.

Companion animals led the veterinary equipment and disposables market, because of the growth in their populace and surge in the emphasis on their care. As per the American Veterinary Medical Association, the count of both cats and dogs in households has gone up considerably.

Additionally, animal shelters are a vital source for new pet attainments, accounting for 38% of dogs and 40% of cats adopted in 2021.

Also, as per the NAPHIA, the demand for pet insurance in recent times has resulted from the increase in the adoption of numerous companion animals.

Veterinary clinics make the most use of veterinary equipment and disposables, because of the availability of numerous treatment options available. Animal welfare organizations have delivered guidelines to guarantee the standards to be employed in such places, which has increased the footfall here.

Also, across developed countries, the progress in this category is also because of the presence of more than a few vet clinics, performing an increasing count of surgeries.

APAC will have a significant growth in the future because of the increasing pet adoption rate, growing cattle population, fast urbanization, growing consciousness of animal health, and rising per capita animal health expenditure. 

Japan and China will showcase a considerable growth, because of the growing count of veterinary clinics and hospitals. Furthermore, the increasing research and development investments by the major players for the expansion of value-added products will power the regional industry.

The growing prevalence of zoonotic diseases has a lot to do with the mounting demand for veterinary equipment and disposables all over the world. The demand will continue to rise in the years to come as well.

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