Power & Energy Trends

The increasing consumption of various tobacco-based products, such as smokeless tobacco, shisha/water pipes, cigarettes, cigars, and bidis, is driving the worldwide demand for tobacco packaging . These tobacco-based products contain the psychoactive mood-altering chemical called nicotine, which releases a mood-improving chemical called dopamine in the body. This brain chemical is responsible for the sensation of relaxation and pleasure, which, in turn, reduces stress. As per various reports, stress is one of the major factors behind growing tobacco-addiction in people, and it is primarily caused due to the surging work pressure and the highly prevalent toxic work culture all over the world. According to the WHO, “in 2018, 1.337 billion people, including 43 million in the age group of 13–15, used tobacco in 2018, as a measure to deal with their social and physical environment, personal views, deteriorating mental health, and peer pressure”. Hence, with the surging consumption of tobacco...

The Reserve Bank of India (RBI) data reveals that the per capita gross national disposable income of India increased from INR 1,44,524 crore in the financial year (FY) 2018–2019 to INR  1,54,349 crore in FY 2019–2020. The apex bank also states that the gross national disposable income of the country grew from INR 1,91,78,372 crore in FY 2018–2019 to INR 2,01,28,484 crore in FY 2020–2021. The surge in disposable income has improved the living standards of the people, owing to which the country is observing the large-scale adoption of aesthetically enhanced products. Thus, the increasing consumption of aesthetically improved products will drive the Indian metal polish market at a CAGR of 4.6% during the forecast period (2020–2030). According to P&S Intelligence, the market revenue stood at $26.51 million in 2019 and it will reach $37.10 million by 2030. The growth can also be credited to the surging use of metal polishes in the marine industry. These polishes are used on a cargo...

With the expansion of the construction sector, on account of the launch of massive construction and infrastructure development projects, especially in the Middle East and Asia-Pacific regions, the demand for plasticizers is growing rapidly across the world. This is because plasticizers are heavily used as raw materials in the production of construction materials, such as tubes and pipes, building interiors, and roof and wall insulation. Additionally, the global construction sector is witnessing stable growth and recovery, which is being mirrored by the ballooning population and rising urbanization rate all over the world. In countries, such as India, Brazil, and China, the increasing urbanization rate is predicted to push up the demand for plasticizers , as these materials are required for manufacturing building materials for roofing, cladding, and various other construction applications. Building materials and tools are extensively required in the construction sector. A large number o...

The Indian metal bonding adhesives market was valued at $198.9 million in 2019, and it is predicted to reach a revenue of $343.6 million by 2030, demonstrating a CAGR of 5.2% from 2020 to 2030. The major factors fueling the expansion of the market are the burgeoning requirement for metal bonding adhesives for various industrial applications, such as ultracentrifuge rotors, cooling water pumps, industrial pumps, base plates, and reaction injection molding machines. Furthermore, the surge in the country’s manufacturing sector is also positively impacting the Indian metal bonding adhesives market. As per the India Brand Equity Foundation (IBEF), the manufacturing sector in India reached a value of $91.2 billion between April 2000–June 2019, mainly because of the increasing foreign direct investments (FDI) in the country. Moreover, several government initiatives, such as the ‘Make in India’, have fueled the boom of the sector, thereby creating several avenues for the companies operating i...

The growing use of triazine in the petrochemical industry is propelling its demand across the world. The compound is extensively used as a scavenger chemical for removing hydrogen sulphide (H2S) from crude oil in a process called stripping. H2S concentration is regularly monitored in petroleum reservoirs, owing to the corrosive and flammable nature of the gas. This is also why the operation and exploration of oilfields are carried out under stringent safety protocols. Additionally, sulphate-reducing bacteria can increase H2S concentration and cause petroleum reservoir souring in the produced fluids, which can make the injection of expensive chemical scavengers in various production pipelines necessary. This is done to minimize the operational and corrosion risks. Besides, the mushrooming use of triazine in the medical sector is also driving the expansion of the global triazine market. The compound has beneficial pharmacological traits, such as anti-inflammatory and anti-microbial char...

Global cheese sales increased by 2.3% in value from 2018 to 2019, to reach $114.1 billion. Similarly, the world gulped down 246 million hectoliters of wine in 2018, compared to 241 million hectoliters in 2014. Initially a defining feature of European cuisines, especially French, Italian, and Spanish, these products have now become extremely popular in other countries too, such as the U.S., Australia, and even developing countries, including India and those in Africa and Latin America (LATAM). The key reason behind this rise is the increase in the disposable income, which has allowed people to go for expensive items. Considering the continuous surge in the consumption of such food products, P&S Intelligence expects the sorbic acid market size to grow to $521,126.7 thousand in 2030 from $347,661.0 thousand in 2019, at a 4.7% CAGR between 2020 and 2030 (forecast period). This is because sorbic acid is widely used as a preservative in cheeses, wines, baked goods, frozen meats, and eve...