Power & Energy Trends

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...

The expansion of the automotive industry is driving the demand for adhesive tapes across the world. This is because tapes having adhesive characteristics are extensively used in the automotive industry, primarily in the form of protection tapes and double-sided tapes. Moreover, automobile manufacturers are increasingly preferring to use automotive tapes having adhesive properties over the conventionally used mechanical fasteners in order to reduce the weight of the automobiles. As mechanical fasteners such as screws and bolts increase the automobile’s weight, they are being rapidly replaced by lightweight adhesive tapes. Besides the aforementioned factor, the development of recyclable adhesive tapes is also creating lucrative growth opportunities for the players operating in the adhesive tapes market. Many countries are restricting or banning the use of hazardous chemicals, which are generally needed for producing adhesive solutions. Additionally, various end users are preferring eco-f...

The International Organization of Motor Vehicle Manufacturers (OICA) records that 1,427,074 units, 2,014,055 units, 3,394,446 units, 257,187 units, and 1,435,335 units of automobiles were manufactured in Thailand, Brazil, India, Argentina, and Russia, respectively, in 2020. The rising vehicle production creates an enormous requirement for electroceramics, as they are employed in spark plugs, oxygen sensors, knock sensors, and combustion sensors. Automakers deploy these sensors in internal combustion engine (ICE)-powered vehicles to monitor their major qualitative and performance indicators. Additionally, the booming healthcare industry, on account of the mounting demand for healthcare services, soaring number of public and private partnerships in this industry, and rising expenditure, is expected to drive the electroceramics market at a CAGR of 5.9% during the forecast period (2018–2023). According to P&S Intelligence, the market revenue will grow from $8,590.9 million in 2017 to ...

The U.S. Energy Information Administration (EIA) states that Organisation for Economic Co-operation and Development (OECD) countries and non-OECD countries produced 30.71 million barrels per day and 63.48 million barrels per day of crude oil, respectively, in 2020. Furthermore, the EIA estimates that non-OCED countries and OECD countries consumed 50.40 million barrels per day and 42.02 million barrels per day, respectively, of crude oil in 2020. Additionally, the organization states that global production and consumption of crude oil stood at 94.19 million barrels per day and 92.42 million barrels per day, respectively, in 2020. Further, Our World in Data, a project of the Global Change Data Lab, estimates that gas production in the U.S. and Russia surged from 8,359 Terawatt-hours (TWh) in 2018 to 9,209 TWh in 2019 and 6,691 TWh in 2018 to 6,790 TWh to 2019, respectively. The increasing production and consumption of oil and gas are expected to drive the centralizers and float equipment...

Valued at $2,197.8 million in 2018, the global polytetrafluoroethylene market is expected to generate a revenue of $2,953.6 million by 2024. According to the estimates of the market research company, P&S Intelligence, the market will progress at a CAGR of 5.0% from 2019 to 2024 (forecast period). The market is being propelled by the burgeoning requirement for PTFE in the electrical and electronics industry and cosmetic products, such as anti-aging creams, blushes, and pressed powders. PTFE is being increasingly used in barb insulators, brush holders, circuit breakers, cable ties, connectors, battery binders, and fabrication of various semiconductor devices. According to the Semiconductor Industry Association (SIA), more than one trillion units of semiconductors were shipped across the globe in 2018. In addition, in China, the sales value of semiconductors grew by more than 20.5% from 2017 to 2018. Besides, the mushrooming use of PTFE in cosmetics is also predicted to create lucrat...

Derivatives of levulinic acid, such as diphenolic acid, succinic acid, methyltetrahydrofuran (MTHF), hydroxymethylfurfural (HMF), sodium levulinate, and ethyl levulinate, are being increasingly used in the personal care, fuel, and food and beverages industries. For example, personal care product manufacturers are increasingly using sodium levulinate as a skin conditioning agent in cosmetics. Thus, the booming food and beverage, personal care products, and fuel sectors will accelerate the consumption of levulinic acid in the upcoming years. Additionally, the rapid commercialization of bio-based production methods will drive the levulinic acid market at a CAGR of 8.8% during 2020–2030. According to P&S Intelligence, the market revenue is projected to rise from $27.2 million in 2019 to $60.2 million by 2030. As the market is still in its nascent stage, it holds immense potential, as this acid and its derivatives help in reducing manufacturing costs and achieving economies of scale. H...

A number of factors, such as the expanding electronics sector, burgeoning steel production, and soaring lithium-ion (Li-ion) battery demand, are expected to fuel the graphite market at a CAGR of 7.4% during the forecast period (2020–2030). According to P&S Intelligence, the market revenue will rise from $19,092.9 million in 2019 to $36,889.1 million by 2030 . In recent years, the increasing usage of graphite in pebble-bed nuclear reactors, for generating electricity from uranium fuel, has become a prominent market trend. The burgeoning production of crude steel, on account of the surging need for steel and steel products in the oil & gas, residential, automotive, and construction sectors, is one of the key contributors to the market growth, globally. According to the World Steel Association, 1,864.0 million tons of steel was manufactured across the globe in 2020. The consumption of graphite in the steel industry is increasing, owing to its excellent durability, exceptional stre...