Why Is Autoclaved Aerated Concrete Replacing Cinder and Clay Bricks?

The booming population is leading to a rising demand for all kinds of infrastructure, including houses, factories, shops, hospitals, and schools. As a result, the construction industry is growing around the world, which is driving the demand for all kinds of raw materials. One of the basic raw material in construction is the humble brick, which has been now replaced to a substantial degree by cinder blocks. With further advancements in technology, the usage of autoclaved aerated concrete (AAC), a precast material, is rising.

It is a lightweight material that offers appreciable insulation, structural integrity, and mold and fire resistance. Due to so many benefits of this material, the autoclaved aerated concrete market value is set to grow from $4,498.5 million in 2019 to $8,314.9 million by 2030, at a 6.0% CAGR between 2020 and 2030. In this regard, P&S Intelligence also credits the demand for lightweight construction materials to be a key factor propelling the usage of AAC.

Compared to clay bricks, an AAC block puts 30% less weight on the foundation of a building. Although this material is lightweight, blocks and other structures made from it can better withstand earthquakes, the incidence and severity of which are increasing around the world due to rising tectonic activity. In recent years, such natural disasters have caused widespread damage and loss of billions of dollars, for instance, in Nepal and Haiti. Additionally, the production of clay bricks leads to considerable air pollution, which is another reason AAC is becoming popular.

Another strong driver for the autoclaved aerated concrete market is the rising construction of soundproof and green buildings. Since AAC is eco-friendly in its production, which can involve the recycling of the fly ash generated from industries and consumes more than 50% less electricity than the manufacturing of clay bricks, it has been accepted as a green building material. Thus, with the rising concerns related to carbon emissions by factories, power plants, and the construction sector, the usage of AAC in green buildings is increasing.

Additionally, a large part of the APAC region suffers from natural disasters regularly. For instance, being on the Pacific Ring of Fire, Japan is no stranger to volcanic eruptions, earthquakes, and tsunamis. Similarly, the northern, especially the mountainous, region of India is a high-tectonic-activity zone, as the Indian plate is continuously ramming into the Eurasian plate. Moreover, the east coast of India regularly battles strong cyclones. The high incidence of such natural calamities has created a need for stronger building materials.

Hence, as the construction sector advances around the world, more traditional materials will be replaced by AAC tiles, blocks, lintels, panels, joint fillers, pipes, and floor elements.

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Rising Demand for Lightweight Vehicles Causing Global Adhesive Tapes Market Boom

The valuation of the global adhesive tapes market is expected to rise from $54,333.4 million in 2017 to $74,954.6 million by 2023. The market is predicted to advance at a CAGR of 5.5% during the forecast period. An adhesive tape is basically a continuous flexible strip made of cloth, paper, metal foil, or plastic film glazed with a thin later of permanent glutinous adhesive either on one or both sides. These tapes are also known as self-sticking tapes, sticky tapes, and pressure-sensitive tapes.

Furthermore, restrictions laid down by governments on the use of toxic chemicals for the production of adhesive solutions has led to the adoption of eco-friendly products such as water-activated tapes that are biodegradable in nature. These environment-friendly tapes are produced by using biodegradable polymers that are obtained through the polymerization of bio-based raw materials. The development of recyclable tapes is creating lucrative opportunities for companies such as 3M Company, LINTEC Corporation, Intertape Polymer Group Inc., Scapa Group plc, Nitto Denko Corporation, and tesa SE.

According to P&S Intelligence, the Asia-Pacific region accounted for the highest consumption of adhesive tapes. Further, the APAC adhesive tapes market is projected to witness rapid growth during the forecast period, due to the increasing utilization of these adhesive solutions in the healthcare, electrical and electronics, and automotive industries, primarily in India and China. Besides, the easy availability of cheap labor and low-cost raw materials has stimulated the manufacturing of tapes with adhesion properties. This has resulted in high volume production of low-priced tapes in the region.

Thus, the availability of new and improved tapes, such as water-soluble adhesive tapes, has increased their applications in several sectors like automobile, food, and packaging. 

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Why Is Packaging Sector Relying on Bio-Based PET Material?

The soaring demand for bioplastics, increasing environmental problems caused by polyethylene terephthalate (PET) products, and rising research and development (R&D) activities by the market players are set to drive the bio-based PET market at a CAGR of 14.7% during the forecast period (2018–2023). The market was valued at $3,917.4 million in 2017, and it is projected to reach $8,682.6 million by 2023. Moreover, government initiatives to curb greenhouse gas (GHG) emissions have led to the increasing production of sustainable products, such as bio-based PET.

This sustainable, environment-friendly material is a form of bioplastic derived from plant sources. This is why it is easily disintegrated by microorganisms into biomass, water, and naturally occurring gases. The demand for bio-based PET and other types of bioplastics, including polyolefin elastomer (PE), polylactic acid (PLA), starch-based plastics, and polybutylene succinate (PBS), is escalating due to their benefits that make them better than fossil-based packaging materials. In comparison to the former, bioplastics offer higher breathability (necessary for packing fruits and vegetables), better renewability and decomposability, and a longer shelf life.

Currently, the Asia-Pacific (APAC) region is dominating the bio-based PET market, and it is expected to maintain its position in the coming years. Moreover, the market is also set to witness the highest CAGR here as a result of the expansion of the bio-derived PET production capacity in India and China. Besides, the increasing consumption of fizzy soft drinks and alcoholic beverages and rising number of initiatives by governments and international regulatory bodies to curtail the emission of GHGs are expected to fuel the market growth in the region.

According to P&S Intelligence, North America followed APAC in 2017, in terms of bio-based PET usage, due to the presence of a large number of bottle producers in the region using this material. The continent is marked by the presence of PepsiCo Inc., The Coca-Cola Company, M&G Chemicals SA, and Origin, which are aspiring to manufacture PET bottles that are 100% plant-based, to cater to the spurring demand for bioplastics and adhere to the stringent pollution control regulations of the Environmental Protection Agency.

Thus, the increasing focus on the adoption of environment-friendly products is boosting the demand for plant-derived PET across the world.

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Plastisol Sales Set to Surge in Asia-Pacific in Near Future

The expansion of the textile industry is positively impacting the sales of plastisols across the world. Screen printing is rapidly becoming the most sought-after option for printing fabrics. Plastic inks are extensively used in the inking and coating of textiles, because of their high cost-effectiveness, excellent performance, and opaqueness. Moreover, the mushrooming requirement for printed textiles such as jeans, printed tees, jackets, tote bags, and various other apparels is boosting the requirement for coating inks in textile applications.

The governments of many countries are enacting policies for fueling the expansion of the textile industry. For example, according to the data and information collected by Indonesia-Investments, which is an informational website that publishes information about the country’s economy, the government of Indonesia aims to increase the valuation of exported garments and textile to as much as $75 billion by 2030. This will consequently push up the sales of plastisols in the country in the coming years.

For example, in industries such as transportation, upholstery, and furniture, several governments have made the usage of plastisol coatings as flame retardants mandatory for enhancing consumer safety. The other major reason behind the implementation of this stringent policy is the fact that plastisol coatings provide excellent fire and heat resistance. Due to these factors, the sales of plastisols are surging sharply across the globe. This is, in turn, propelling the advancement of the global plastisols market.

This was because of the fact that these materials provide high corrosion and chemical resistance and excellent insulation. Across the globe, the plastisols market will exhibit the fastest growth in the Asia-Pacific (APAC) region in the coming years, as per the estimates of P&S Intelligence, a market research company based in India. This will be because of the rapid economic progress and the ballooning plastisol production capacities of the regional countries. 

Therefore, it is safe to say that the demand for plastisols will soar all over the world during the next few years, mainly because of their increasing usage in the textile industry.

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How Are FDA Policies Driving Usage of Coding and Marking Systems in U.S.?

The standards of the U.S. Food and Drug Administration (FDA) regarding the quality of food products and drugs and the provision of authentic details on the packaging are among the strictest in the world. Moreover, under the FDA Act of 2007, every food and drug manufacturing machine label must contain the Unique Device Identification (UDI) label. Additionally, manufacturers also need to have unique codes on their products to be able to trace them throughout the production line and beyond.

Moreover, to print the details directly on the surface of food products, specialized and strongly-regulated equipment and inks are required. Therefore, P&S Intelligence expects the U.S. coding and marking systems market to grow from $558.4 million in 2017 to $860.6 million by 2023, at a 7.6% CAGR between 2018 and 2023. This is because these systems are used to print product-related details, such as manufacturing and expiry dates, batch number, ingredient and nutrient list, and manufacturer’s contact information, on the packaging.

In present times, when everybody is trying to come up with cheap knock-offs, anti-counterfeiting initiatives have become even more important. For this purpose, smart codes are being used, which modify the characters of a basic batch number and turn it to a complex code, thus making it difficult to be copied. According to the U.S. Department of Homeland Security (DHS), between 2000 and 2018 shows, seizures of fake goods at U.S. borders rose by 10 times, from 3,244 to 33,810 per year. The absence of proper codes characteristic to the original company no fake goods are a key enabler of such seizers.

As a result, all these industries and others use a variety of coding and marking systems, including thermal transfer overprinting (TTO), thermal inkjet, continuous inkjet, print & apply labelers, drop-on-demand (DoD), valve jet, laser, and hot-melt inkjet. Among these, most manufacturers in the country prefer continuous inkjet systems on account of their high speed of printing, which they can accomplish on almost every material, and non-stop operations for long hours. Moreover, these systems are already cost-effective to purchase, and they also require minimal servicing, which leads to further cost savings for users.

Hence, with the growing industrial production amid the constant threat of counterfeiting and risk of incurring heavy fines for not complying with FDA regulations, the demand for coding and marking systems in the country will keep rising.

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How is Mushrooming Usage of Agrochemicals Adding Fuel to Global Ethanolamines Market Fire?

Owing to the rising demand for surfactants, the global ethanolamines market is predicted to grow from $2,933.5 million in 2019 to $5,079.0 million by 2030, at a 5.0% CAGR between 2020 and 2030. With the increase in the disposable income of people living in the Latin American and Asia-Pacific regions, coupled with the rising awareness among them about personal hygiene, the demand for detergents and soaps is rising.

The COVID-19 pandemic has slowed down the growth of the ethanolamines market, as the operations at downstream product manufacturing plants, especially in China, have stopped. Similarly, the market in Europe has also suffered, due to the curtailed output of ethanolamine-containing products from U.S. plants.

Ethanolamines Market Segmentation Analysis

In the years to come, the diethanolamine (DEA) category, on the basis of type, would grow with the highest CAGR in the ethanolamines market, of 6.2%, in terms of value. This would be a result of the wide usage of this compound as an ingredient in soaps and detergents and in treating natural gas and crude oil and producing glyphosate. In addition, the consumption of surfactants and herbicides is expected to increase in APAC and North America, where these products are also more expensive than in other regions.

The surfactants division, based on application, held the largest share in the ethanolamines market during 2015–2019, and the situation is predicted to remain unchanged throughout this decade. When used as a surfactant, ethanolamines display an emulsifying character, which is why their usage is increasing in the production of gel-type cleaners, industrial detergents, body lotions, shaving creams, soap bars, and shampoos.

Working Together Being Seen as Definitive Growth Strategy

In order to grow in the ethanolamines market, companies offering the compound and its derivatives are merging, partnering, and collaborating with or acquiring each other.

For instance, in November 2019, Baker Hughes signed an agreement with Sadara Chemical Company to receive feedstock chemicals from the latter company for its PlasChem Park, Saudi Arabia chemical plant. Under the agreement, Baker Hughes will receive propylene oxide and ethylene oxide (a key raw material for producing ethanolamines) over a 20-year period, via pipelines.

The key players functioning in the global market for ethanolamines are Nouryon, BASF SE, LyondellBasell Industries N.V., The Dow Chemical Company, INEOS Group Holdings S.A., Huntsman Corporation, Mitsui Chemicals Inc., KPX Green Chemical, Oriental Union Chemical Corporation, Nippon Shokubai Co. Ltd., PETRONAS, Oxiteno, Sadara Chemical Company, Sintez OKA, Saudi Kayan Petrochemical Company, Sasol Limited, and Sinopec Group.

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Chemical Industry Using Chloromethanes for Varied Purposes

Chloromethane is used as a raw material for manufacturing industrial solvents that are processed for the production of dimethyldichlorosilane, which serves as a precursor to silicones. These silicones are used in the production of lubricants, medicine, sealants, cooking utensils, and adhesives. Other derivates of chloromethane like methyltrichlorosilane and trimethylsilyl chloride are also utilized as solvents in butyl rubber manufacturing and petroleum refining. The surging production of such compounds will fuel the chloromethanes market at 3.4% CAGR during 2019–2024. The market is expected to rise from $2,675.9 million in 2018 to $3,286.9 million by 2024.

Currently, the market is highly consolidated with the presence of few major players, wherein AkzoNobel N.V. is the leader. This company has a rooted presence across the world and has plans to drive its production capacity. In July 2018, AkzoNobel N.V laid down its plan to increase its production capacity by 50%, by 2023, by expanding its capacity in Frankfurt, Germany. Additionally, companies like Dow Inc., Shin-Etsu Chemical Co. Ltd., Ercros S.A., Solvay SA, Occidental Petroleum Corporation, Tokuyama Corporation, AGC Inc., and KEM ONE also account for a substantial market share.

These players are involved in the production of methyl chloride, chloroform, methylene chloride, and carbon tetrachloride. Among these, manufacturing of carbon tetrachloride has escalated quickly because of its growing use as cleaner. In production units, the compound is used as a degreaser; whereas, in residential facilities, it is used to remove spot from cloths, carpets, and furniture. Apart from this, the compound also finds application in insecticides and fire extinguishers. Additionally, the players are producing high-volume of methylene, due to its extensive application in the formation of metal cleaning agents, pharmaceutical products, and adhesives.

Whereas, the Middle Eastern and African (MEA) chloromethanes market is expected to witness the fastest growth during the forecast period. This can be ascribed to the expansion of the chemical end-use industries, on account of diversification plan in the U.A.E., Saudi Arabia, and several other Gulf countries. Moreover, the presence of the well-established agriculture sector and the untapped pharmaceutical industry will attract key market players to this region. Additionally, the surging number of oil and gas exploration and production (E&P) activities will facilitate the market growth in the coming years.

Thus, the growth of the end-use sectors like pharmaceutical, chemical, and agriculture will propel the demand for chloromethanes in the foreseeable future.

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Demand for Digital Oilfield Technology Predicted to Boom in Coming Years

The increasing production of shale gas is fueling the demand for digital oilfield technology across the world. In the U.S., the mushrooming production of shale gas is resulting in the generation of large amounts of data related to production and drilling cycles and seismic and spatial information. As per the U.S. Energy Information Administration (EIA), in the U.S., shale resources were responsible for the production of nearly 16.76 trillion cubic feet (Tcf) of dry natural gas.

Apart from the aforementioned factors, the rapidly declining number of onshore reserves in various oil- and gas-producing countries is also positively impacting the demand for digital oilfield technology across the world. This is creating lucrative growth opportunities for the companies developing the digital oilfield technology, as this technology is increasingly being required by various exploration and production (E&P) organizations around the world for studying and analyzing the potential of offshore sites.

BP and Chevron, which are two of the biggest oil firms in the world, announced in January 2018 that they have made huge deep-water discoveries in the North Sea and the Gulf of Mexico. These factors are fueling the requirement for digital oilfield technology across the world, which is, in turn, driving the advancement of the global market for digital oilfield technology. Digital oilfield technology is divided, on the basis of process, into production optimization, reservoir optimization, and drilling optimization.

Out of these, the demand for production optimization was the highest across the world during the last few years, as per the observations of P&S Intelligence, a market research company based in India. This was primarily because of the huge requirement for advanced oilfield technologies that can make the process of crude oil extraction easier and hassle-free, on account of the presence of a large number of mature oilfields across the world.

Hence, it can be said with surety that the demand for digital oilfield technology will shoot up all over the world in the coming years, primarily because of the mushrooming production of shale gas and the increasing requirement for advanced technologies by E&P companies.

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Boom Expected in North American Low Strength Proppants Market in Near Future

The global low strength proppants market generated a revenue of $3,713.3 million in 2019, and it is predicted to attain a value of $5,294.8 million by 2030. Furthermore, the market will progress at a CAGR of 9.8% between 2020 and 2030, as per the estimates of P&S Intelligence, a market research company based in India. The market is being driven by the surging exploration & production (E&P) activities and rapid technological advancements in crude oil discovery.

Another major factor fueling the expansion of the low strength proppants market is the increasing technological advancements and innovations being made in crude oil discovery around the world. The market is categorized, on the basis of end use, into coal-bed methane, crude oil, and shale gas. Amongst these, the crude oil category is predicted to exhibit the highest growth rate in the market in the coming years. This is because of the surging requirement for more crude oil exploration globally.

Moreover, many countries such as the U.S., the U.K., Russia, and Saudi Arabia are increasingly focusing on producing unconventional oil, which is, in turn, driving the demand for low strength proppants. As per the International Association of Energy Economics, unconventional oil accounted for 3.0% of the total crude oil production across the world in 2020. Additionally, the production volume of this oil will grow from 3.05 million barrels per day (mbpd) in 2020 to 3.75 mbpd by 2030.

Facility Expansions Being Seen as Key Move for Growth by Industry Players

To make the most of the high demand for oil and gas, companies offering proppants are expanding their production capacities, so they can supply as much of the material as possible to E&P firms.

For instance, Alpine Silica announced plans to construct a frac sand processing facility each in Fay, Oklahoma, and Van Horn, Texas, in June 2018. Apart from this expansion in the U.S., the company also secured nearly 51 million tons of frac sand reserves for the Oklahoma facility.

The most prominent players in the global low strength proppants market are Fairmount Santrol Holdings Inc., Superior Silica Sands LLC, U.S. Silica Holdings Inc., CARBO Ceramics Inc., Badger Mining Corporation, Preferred Sands, Saint-Gobain Proppants Inc., JSC “Borovichi Refractories Plant”, Black Mountain Sand LLC, Hi-Crush Inc., Atlas Sand Company LLC, Wisconsin Proppants LLC, Gongyi Tianxiang Refractory Materials Co. Ltd., and TEXAS SILICA.

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Magnesium Stearate Improving Cosmetics Quality

The expanding pharmaceutical industry, especially in Asia-Pacific (APAC), is expected to drive the global magnesium stearate market from $1,492.3 million in 2019 to $2,637.6 million by 2030, at a 5.3% CAGR between 2020 and 2030. Being the most populated region in the world, APAC generates a significant requirement for medical drugs and other pharma products. In addition, heavy investments are being poured in the regional healthcare sector, which is leading to an increasing pharmaceutical output.

This factor is helping the magnesium stearate market grow, as the salt is used to prevent the sticking of drugs to production machines. The ability of the compound to serve as a cost-effective and suitable release agent propels its usage among pharmaceutical manufacturers. Thus, with the increasing pharmaceutical production in India, China, and Indonesia, the demand for this chemical will keep rising.

Due to the coronavirus pandemic, the magnesium stearate market has received a boost. This is because, with the rising cases of the infection, the healthcare sector is overburdened, with an acute shortage of drugs. Thus, pharmaceutical manufacturers have increased their output manifold, to meet the demand for medication, thereby driving the consumption of the compound.

The powder bifurcation, on the basis of form, is expected to witness the faster magnesium stearate market growth in the coming years. This is attributed to the wide usage of powdered magnesium stearate as a release agent, to make sure that the drugs do not stick to the manufacturing equipment. In addition, in several cosmetic products, including face powders and foundation cakes, the powdered form of the magnesium salt is used as an anti-caking agent. This is because it absorbs the extra moisture from the skin as well as prevents lumps from forming in the cosmetics.

The pharmaceutical division, under segmentation by end-use industry, would continue dominating the magnesium stearate market in the years to come. This would be because of the growing demand for the compound in the expanding pharmaceutical industry, as a suitable filler, binder, and release agent for drugs. Owing to the rising demand for drugs, the consumption of the compound is increasing. In addition, pharma companies are investing heavily in the research and development for new products, thereby helping raise the usage of the salt.

The most prominent players in the global magnesium stearate market are Peter Greven GmbH & Co. KG, Baerlocher GmbH, James M. Brown Ltd., Struktol Company of America LLC, Merck KGaA, Sinwon Chemical Co. Ltd., Haihang Industry Co. Ltd., Thermo Fisher Scientific Inc., Tokyo Chemical Industry Co. Ltd., and Hefei TNJ Chemical Industry Co. Ltd.

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Surging Steel Production Fueling Global Demand for Graphite

The increasing production of steel, due to the mushrooming requirement for steel products in end-use industries such as automotive, residential (household use), construction, and oil & gas, is fueling the global demand for graphite. As per the World Steel Association, the worldwide crude steel production increased from 1,814 million tons in 2018 to 1,869 million tons in 2019. Graphite exhibits high corrosion resistance and excellent strength and durability at extreme temperatures.

This is why it is extensively used in steel production. Besides, the ballooning demand for lithium-ion (Li-ion) batteries, on account of the increasing electric vehicle deployment, is also propelling the sales of graphite across the world. Each lithium-ion battery needs 10–20 times more graphite than lithium, as the greater the quantity of graphite, the more will be the battery’s capacity to intercalate lithium. Moreover, graphite is majorly used as an anode in the Li-ion batteries.

As natural graphite is cheaper than synthetic graphite and lithium titanate, the mushrooming sales of Li-ion batteries are driving the worldwide demand for graphite. This is, in turn, causing the expansion of the global graphite market. As a result, the revenue of the market is predicted to rise from $19,092.9 million in 2019 to $36,889.1 million by 2030. Furthermore, the market is predicted to advance at a CAGR of 7.4% from 2020 to 2030.

Hence, it is safe to say that the demand for graphite will shoot up in the forthcoming years, primarily because of its increasing usage in the steel production process and Li-ion batteries and the mushrooming production of steel and the ballooning sales of Li-ion batteries, on account of the growing deployment of electric vehicles, across the world.

Key Findings of Global Graphite Market Report

• Growing steel production driving graphite usage

• Synthetic form of material more popular than natural form

• Graphite use in pebble-bed nuclear reactors is key industry trend

• Automotive sector displaying highest potential for graphite adoption

• Seeing fragmented market nature, players engaging in acquisitions

• Highest graphite consumption being witnessed in APAC

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Surging Oil and Gas Production Propelling Worldwide Demand for Benzalkonium Chloride

The rapid expansion of the pharmaceutical industry is massively augmenting the demand for benzalkonium chloride across the world. This is because this compound is heavily used in the pharmaceutical industry, because of its ability to be used as a disinfectant, antiseptic, solubilizing agent, wetting agent, and antimicrobial preservative. Moreover, with the rising income of people and the surge in healthcare expenditure in several countries, the affordability of various healthcare services is growing rapidly.

As per the U.S. Energy Information Administration (EIA), 101.2 million barrels of petroleum and various other associated liquids were used per day in 2019, which was higher than the 100.4 million barrels of petroleum used per day in 2018. The mushrooming requirement for these products is augmenting oil and gas exploration and production activities, which is, in turn, propelling the sales of benzalkonium chloride across the globe. This is consequently causing the boom of the global benzalkonium chloride market.

As a result, the revenue generated by the market is predicted to surge from $525.0 million in 2019 to $1,301.1 million by 2030. Furthermore, the market is predicted to grow at a CAGR of 9.6% from 2020 to 2030. Depending on application, the benzalkonium chloride market is divided into hand sanitizers; eye, ear, and nasal drops; shampoos, spermicidal creams, disinfectants, water treatment chemicals, timber protection chemicals, aquaculture chemicals, and coatings. 

Amongst these, the disinfectants category is predicted to register the highest growth in the market in the future years. This will be because of the compound’s ability to easily remove unwanted algae, viruses, fungi, and bacteria. When type is taken into consideration, the benzalkonium chloride market is classified into benzalkonium chloride 80% and benzalkonium chloride 50%. Between these, the benzalkonium chloride 50% category is predicted to hold larger share (by volume) in the market in the upcoming years.

This is because the compound is highly suitable for use in various personal care and pharmaceutical applications, on account of its less-toxic nature than the other variant. Globally, the benzalkonium chloride market will exhibit the fastest growth in the Asia-Pacific (APAC) region in the forthcoming years, as per the estimates of the market research firm, P&S Intelligence. This will be due to the growing requirement for various disinfectant products in the region, because of the outbreak of the COVID-19 pandemic.

Hence, it can be said with full surety that the demand for benzalkonium chloride will rise sharply across the world in the coming years, mainly because of the growing usage of the compound in the pharmaceutical, personal care, and oil & gas industries.

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Increasing Oil and Gas E&P Activities Fueling Global Demand for Well Cementing

With the surge in exploration and production (E&P) activities in both unconventional and conventional oil and gas reserves, the demand for well cementing is growing rapidly all over the world. Moreover, because of the recovery of crude oil prices, the oil and gas industry is booming, which is, in turn, propelling the requirement for well cementing. The soaring E&P investments in countries such as China, Russia, Brazil, and the U.S. are fueling the expansion of the well cementing industry. 

Due to the above-mentioned factors, the demand for well cementing is rising sharply across the world. This is fueling the progress of the global well cementing market. The valuation of the market is predicted to grow from $7,577.6 million in 2018 to $10,065.4 million by 2024. Furthermore, the market is predicted to progress at a CAGR of 4.7% between 2019 and 2024. Well cementing is used in shale gas, oil, and gas wells. 

Out of these, the requirement for well cementing is predicted to grow rapidly in shale gas wells in the forthcoming years. This will be because of the rising demand for shale gas and the soaring investments being made in E&P activities in shale gas reserves. When application is taken into consideration, the well cementing market is divided into offshore and onshore. Between these, the offshore category is predicted to demonstrate faster growth in the market in the coming years.

This will be due to the surging investments made in offshore exploration activities and the discovery of several major offshore reserves in several regions. Globally, the well cementing market recorded the highest growth in North America in the past, as per the observations of P&S Intelligence, a market research company based in India. This was because of the huge investments made in the oil and gas sector, especially in well drilling for extracting shale gas in Canada and the U.S. 

Hence, it can be said with full confidence that the demand for well cementing will rise across the world in the coming years, mainly because of the soaring exploration and production activities in both offshore and onshore oil and gas reserves around the world.

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