Power & Energy Trends

“Around the world, one million plastic drinking bottles are purchased every minute.”, according to the United Nations Environment Programme (UNEP). Further, as per National Geographic society, in just 60 years, a massive 8.3 billion tonnes of plastic have been produced around the world, most of which has become trash. Additionally, plastic production will double by 2050 from the 448 million tonnes created in 2015. This is already leading to the really big issue of plastic pollution, which is spreading to waterbodies and the atmosphere as well, apart from land. As per P&S Intelligence, the global outcry over this issue will take the bio-based polyethylene terephthalate (PET) market size from $3,917.4 million in 2017 to $8,682.6 million by 2023 , at a 14.7% CAGR between 2018 and 2023. This will also be because of the high-volume consumption of PET, mostly in plastic bottles. Even though such bottles are intended to be for one-time use, they are made strong, which is why their plastic...

Self-levelling concrete or self-levelling compound is used in industrial and commercial constructions to smoothen and level out the entire floor area. It is a mixture of water and powder that has exclusive flow viscosity, which enables the compound to spread on its own on the floor before setting. In recent years, the use of such products has increased due to the surging need to renovate and repair hospitals, offices, malls, apartments, and schools, owing to the escalating need to offer aesthetically enhanced infrastructure. Moreover, the expanding construction industry, owing to the mounting focus of governments on improving infrastructure and providing housing, will drive the self-levelling concrete market at a CAGR of 5.1% during the forecast period. The market revenue is expected to grow from $5,000.3 million in 2017 to $6,726.3 million by 2023. For instance, the Kingdom of Saudi Arabia launched the Housing Program in 2018 to meet the housing needs of the populace. This Program ai...

 Plastics have become an important part of automobiles, as they are capable of reducing the overall weight of vehicles by a significant margin. Automakers across the world are focusing on the production of lightweight vehicles, as these automobiles help in enhancing fuel efficiency. According to the U.S. Department of Energy, a 10% reduction in vehicle weight can lead to an improvement of 6–8% fuel economy. Thus, the increasing emphasis of automobile manufacturers on enhancing fuel efficiency will fuel the adoption of injection molded plastics in the automotive sector in the foreseeable future. Moreover, the rising preference for biodegradable polymers among medical device manufacturing companies will drive the injection molded plastics market at a CAGR of 6.0% during the forecast period (2017–2025). According to P&S Intelligence, the market revenue stood at $283.5 billion in 2016, and it is projected to reach $496.2 billion by 2025 . The surging consumption of this form of pla...