Stringent Air and Water Pollution Prevention Laws to Drive Liquid and Air Filter Bags Demand

The United States Environmental Protection Agency (EPA) recently implemented the Pollution Prevention Act under the National Pollution Prevention Policy. The policy aims at preventing or reducing pollution at the source whenever feasible and recycling pollution that cannot be prevented in an environment-friendly manner whenever feasible. Similarly, the Air (Prevention and Control of Pollution) Act, 1981 was enacted by the Government of India to prevent, control, and abate air pollution. Likewise, the European Union (EU), has drafted the Ambient Air Quality Directive to control ambient concentrations of air in the EU.

Thus, the increasing implementation of air pollution control laws is expected to drive the liquid and air filter bags market at a CAGR of 6.5% during the forecast period (2018–2023). Additionally, the soaring number of water pollution prevention laws and wastewater treatment legislations will also fuel growth in the market revenue from $4,220.2 million in 2017 to $6,144.9 million by 2023. For instance, the Water (Prevention and Control of Pollution) Act, 1974 was enacted by the Government of India for controlling and preventing water pollution to maintain or restore the wholesomeness of water in the country.

Currently, liquid and air filter bags are being increasingly used in coal-fired power plants because these plants emit a high volume of toxic pollutants in the atmosphere. Coal-powered fire stations and dust chamber filters in incinerators prefer polyphenylene sulfide filter bags due to their ability to withstand excessive temperature and acidic environment. Usage of such bags also helps in lowering the operating cost of power plants and reducing downtime for maintenance activities as they filter air at the source itself.

The bag size segment of the liquid and air filter bags market is classified into 4OD*8'', 4OD*14'', 7OD*17'', 7OD*32'', and others. Under this segment, the 7OD*32'' category generated the highest revenue in 2017 as these are long filter bags that have low cost, superior product quality, and exceptional chemical compatibility. Whereas, the 4OD*8'' category is expected to showcase the fastest growth during the forecast period. Emirates Industrial Filters Ltd., Eaton Corporation, FILPRO Corporation, CLARCOR Inc., and DuPont de Nemours are some of the leading producers of liquid and air filter bags.

Different sizes of these bags are used in the chemicals and pharmaceuticals, food and beverage, steel and power, mining, cement, brewing, and water treatment industries. In the recent past, the chemical and pharmaceutical industry was the largest end user of these bags. In this industry, these bags were required for removing unwanted foreign substances from the equipment machinery. Whereas, in the foreseeable future, the usage of these bags will soar at the highest rate in the water treatment sector, owing to their surging requirement in primary, secondary, and tertiary water treatment processes for removing fine and medium-sized solid particles from water. 

Geographically, Asia-Pacific (APAC) accounted for the largest share in the liquid and air filter bags market in 2017 due to the increasing implementation of emission control regulations and the requirement for clean indoor facilities in the region. Moreover, the rapid economic development, owing to the prospering power, food and beverage, and oil and gas industries, in APAC nations, will also drive the demand for liquid and air filter bags in the region in the forthcoming years. Nearly all countries in the region are investing huge sums in power and pharmaceutical industries to meet the high electricity and medicine demand, respectively, of their populace. 

Therefore, the surging need to comply with air pollution and water pollution prevention laws, owing to the worsening water and air quality, will boost the adoption of liquid and air filter bags in the coming years. 

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How Is Growth of Construction Sector Fueling Self-Levelling Concrete Demand?

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 (2018–2023). 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 aims to provide accommodation to the underprivileged sections of society.

Additionally, the accelerating industrialization rate, especially in developing countries, such as India, China, and Brazil, will also create an extensive requirement for self-levelling concrete. Prominent manufacturers of the automotive, electronics, aerospace and defense, and personal care products are shifting their production base from developed nations to emerging economies, due to the flexible environmental laws, favorable industrial laws, and abundant availability of raw materials and cheap labor in those countries. Moreover, the presence of a vast consumer base in such countries is also facilitating the construction of manufacturing facilities there.

The type segment of the self-levelling concrete market is bifurcated into toppings and underlayment. Under this segment, the underlayment category accounted for the larger market share in 2017, as underlayment self-levelling concrete helps in minimizing imperfections and irregularities. These are extensively used in the levelling of concrete subfloors in the interiors of commercial and residential structures. Thus, the increasing construction of residential and commercial buildings to accommodate the booming population will augment the growth of this category.

At present, the requirement for self-levelling concrete in the commercial and residential sectors is being met by Arkema Group, LafargeHolcim Group, CTS Cement Manufacturing Corporation, Saint-Gobain S.A., ACG Materials, Duraamen Engineered Products Inc., Durabond Products Ltd., Durex Covering Inc., The QUIKRETE Companies, and ARDEX Group. These companies are consistently focusing on research and development (R&D) activities to develop innovative concrete and flooring materials. In comparison to the traditional concrete materials, self-levelling compounds consume lesser water, have higher tensile strength, are more durable, and do not require experts for handling. 

According to P&S Intelligence, the Asia-Pacific self-levelling concrete market is expected to demonstrate the fastest growth during the forecast period, owing to the increasing construction activities in China and India. The expanding construction sector in these nations can be attributed to the surging number of infrastructure development projects and mounting investments being made in the sector. For instance, the Indian government allocated INR 111 lakh crore ($1.4 trillion) under the National Infrastructure Pipeline (NIP) for the financial year 2019–2025. 

Therefore, the rising construction activities and escalating industrialization rate in emerging economies are expected to enhance the consumption of self-levelling concrete.

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Why will Demand for Palm Methyl Ester Derivatives Soar in Asia-Pacific in Future?

In recent years, the demand for organic personal care and organic products has increased massively. Moreover, with the surging disposable income of people and the growing public awareness about the benefits of organic products and skincare, this trend will continue in the coming years, thereby driving the expansion of the personal care industry, especially in the emerging economies of Latin America and Asia-Pacific. As palm oil derivatives are used as humectants, viscosity modifiers, and emollients in these cosmetic products, the boom in the personal care industry is causing a sharp surge in the sales of palm methyl ester derivatives.

Additionally, palm oil and its various derivatives such as stearin and olein, are used as precursors in the production of beauty products. These products are not only available in abundance but also ideal for use as feedstock for various organic personal care products. Besides this, the growing usage of palm oil-based biodiesel, on account of its eco-friendliness, is also creating immense growth opportunities for palm oil producers across the world. 

In recent years, exhaustive research has been conducted in the production of biodiesel from palm oi derivatives and it has been found that the commercial usage of palm oil-based biodiesel is possible, due to its low price, high performance attributes, and the abundant availability of feedstock. Due to these factors, the usage of palm methyl ester derivatives is soaring, which is, in turn, propelling the growth of the palm methyl ester derivatives market. According to the estimates of the market research company, P&S Intelligence, the market revenue will grow from $1,443.4 million in 2018 to more than $2,106.7 million by 2023.

Because of the presence of antioxidants, kernel oil contains various nutrients such as healthy unsaturated fats, vitamin K, and vitamin A. Across the globe, the sales of palm methyl ester derivatives are predicted to surge sharply in the Asia-Pacific (APAC) region in the coming years. This will be because of the expansion of production facilities, on account of the soaring demand for personal care and beauty products, and the booming requirement for various end-formulation products in the region.

The demand for these products is also expected to explode in Latin America, Middle East and Africa, and North America in the coming years. This will be because of the extensive usage of palm methyl ester derivatives in personal care products, industrial chemicals, and foods and beverages in these regions. The U.S. is predicted to dominate the North American palm methyl ester derivatives market in the forthcoming years, on account of the fact that these derivatives are required in large quantities in several end-use industries such as agricultural formulations and industrial chemicals, in the country. 

Hence, it can be said without any hesitation that the demand for palm methyl ester derivatives will rise enormously in the coming years, mainly because of the booming sales of personal care and beauty products all over the world. 

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Recovery in Crude Oil Prices Facilitating Centralizers and Float Equipment Market Expansion

The global centralizers and float equipment market reached a revenue of $991.6 million in 2018 and it is expected to attain a value of $1,439.3 million by 2024. Furthermore, as per the estimates of P&S Intelligence, a market research company based in India, the market will advance at a CAGR of 6.3% from 2019 to 2024 (forecast period). The market is being driven by the increasing exploration of oil and gas reserves, burgeoning requirement for oil and gas products, and recovery in worldwide crude oil prices. 

Centralizers are basically casing tools which are used for retaining uniformity of the cement sheath around the pipe. In simpler terms, these tools play the role of a seal between casing and wellbore. On the other hand, float equipment is used to reduce strain on derrick and provide a landing platform for top and bottom cementing plugs and backpressure valve for preventing the flowing back of the cement into the inner diameter of the well casing.

For example, Royal Dutch Shell plc intends to explore the Penguins field in the North Sea, British Petroleum (BP) plc started the second phase of the Mad Dog oil field operations, and various other players also launched their E&P operations. Besides the recovery in crude oil process, the rising requirement for oil and gas in various industries and applications such as electricity generation and domestic transportation, on account of the economic progress of many countries, is also propelling the expansion of the centralizers and float equipment market. 

Moreover, with the increasing energy consumption, upstream E&P activities will surge in the upcoming years. According to the estimates of the Organization of Petroleum Exporting Countries (OPEC), the demand for oil all over the world is predicted to grow from 95.4 million b/d in 2016 to 111.1 million b/d by 2040. Depending on equipment type, the centralizers and float equipment market is divided into float equipment and centralizers. Between these, the float equipment category dominated the market in 2018. This category is also expected to surge sharply in the coming years, on account of the launch of several oil and gas E&P projects and moderate prices of float equipment. 

When application is taken into consideration, the centralizers and float equipment market is classified into offshore and onshore. Between these, the onshore category led the market, by accounting for over 80% of the market shares in 2018. This is credited to the large-scale E&P activities that were carried out in onshore oil and gas fields during the last few years. Moreover, nearly 80% of the worldwide oil and gas drilling wells were made in onshore fields. In the future years, the offshore category is predicted to register faster growth. 

Therefore, the market is set for prosperity in the coming years, owing to the increasing oil and gas E&P activities, because of the surging demand for oil and gas in various industries.

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Increasing Greenhouse Gas Levels Steering Net Zero Energy Buildings Construction

Net zero energy buildings (NZEBs) refer to highly efficient buildings having extremely low energy requirements, that is met by non-conventional energy sources. These structures produce as much energy as they consume annually. To attain their net zero energy goals, buildings must reduce their energy demands by using energy-efficient technologies and utilize non-conventional energy sources to meet the remaining demand. Owing to these properties of NZEBs, governments across the world are taking numerous initiatives to reduce the usage of fossil fuels in residential and commercial buildings. 

Moreover, the surging focus on reducing greenhouse gas (GHG) emissions during electricity production is expected to drive the net zero energy buildings market at a CAGR of 15.6% during the forecast period (2019–2024). According to P&S Intelligence, the market revenue is projected to increase from $896.6 million in 2018 to $2,106.6 million by 2024. According to the World Green Building Council, the construction industry accounts for over 35% of global energy consumption and around 40% of the energy-based carbon dioxide emissions.

To amplify the construction of NZEBs, federal, state, and local governments are implementing several plans and policies aimed at reducing the pollution and energy consumption of the construction sector. For example, California Public Utilities Commission (CPUC) laid down the California Long-Term Energy Efficiency Strategy Plan to ensure that all new residential buildings and commercial buildings are NZEBs by 2020 and 2030, respectively. According to this plan, new builders are mandated to construct NZEBs in California. 

The equipment segment of the net zero energy buildings market is categorized into lighting systems, insulation panels, solar photovoltaic (PV) panels, and heating, ventilation, and air conditioning (HVAC) systems, and others. In 2018, the solar PV panels category held the largest market share, due to the soaring demand for solar PV panels from the commercial facilities, owing to the increasing requirement for a considerable amount of energy to provide electricity to all the appliances in such buildings. Further, the surging NZEB development plans and the rising importance of solar units in these buildings are also supporting the category growth.

The aforementioned NZEB devices are offered by Daikin Industries Ltd., Rockwool Group, Kingspan Group plc, Xtratherm Limited, and Solatube International Inc. These systems are deployed in the construction of residential and commercial buildings. As commercial construction includes more floor spaces, they require more equipment than residential buildings. Additionally, the governments of various countries are introducing several policies to amplify the construction of NZEBs, due to the growing focus on reducing energy generation through fossil fuels.

Globally, North America accounted for the largest share in the net zero energy buildings market in 2018 and it is projected to exhibit the fastest growth throughout the forecast period. The mounting concerns regarding GHG emission, owing to the increased burning of fossil fuels for electricity generation, will boost the construction of NZEBs, as these buildings can reduce pollution during the construction phase and ensure carbon neutrality. Moreover, the energy consumption targets set by the governments of Canada and the U.S. to attain sustainable energy demand will also support the market growth in the region.

Thus, the accelerating need to meet the high energy demand and curtail GHG emission from the construction sector will augment the construction of NZEBs in the foreseeable future.

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How Are Pharmaceutical Companies Gaining from Using Bismuth Nitrate?

The cosmetic industry is increasingly using bismuth nitrate in lipsticks, eye shadows, nail polishes, and hair sprays, due to the surging public awareness regarding this compound and the ability of this compound to be used as a white pigment source. With the rising consciousness about personal appearance, the demand for cosmetic products will surge at a rapid pace. This will, therefore, accelerate the bismuth nitrate market at a CAGR of 5.1% during 2020–2030. According to P&S Intelligence, the market is expected to reach $287.7 million by 2030 from $190.6 million in 2019.

Pharmaceutical companies use bismuth nitrate to produce drugs for cancer patients, as this compound prevents damage to the kidneys and bone marrow of cancer patients, which is usually caused during cancer treatment. Besides, drugs derived from this salt can also cure duodenal ulcers. With the rising prevalence of cancer, the usage of this salt as a drug formulator will amplify in the coming years. Additionally, the compound is also being used to produce drugs for diseases that do not have a cure at present.

The grade segment of the bismuth nitrate market is classified into industrial grade, pharmaceutical grade, and others, including food grade, military grade, and technical grade. Among these, the pharmaceutical grade category held the largest market share in 2019 and it is expected to register the fastest growth in the forecast years. This can be primarily owed to the extensive use of pharmaceutical grade bismuth nitrate in several medicated drugs, owing to its ability to prevent any damage to the kidney in patients during chemotherapies, and hefty investments in R&D activities for its discovering new pharmaceutical applications.

In recent years, numerous manufacturing companies have shifted their focus from bismuth oxychloride, bismuth hydroxide, bismuth subsalicylate, and bismuth subcarbonate to bismuth nitrate, as this salt is highly suitable as a reagent for the selective oxidation of sulfides to sulfoxides. Besides, the low cost of the compound in comparison to other derivatives has also boosted its adoption in several manufacturing units. Owing to these advantages, this salt is being used as an alternative to organic synthesizers in several end-use industries.

Globally, the APAC region accounted for the largest share in the bismuth nitrate market in 2019 and it is expected to continue witnessing the same trend throughout the forecast period as well. This can be attributed to the rising investments in R&D activities in the pharmaceutical industry for developing medicines for diseases that do not have any cure, hitherto. Moreover, the surging incidence of cancer in APAC is fueling the need for pain-relieving drugs, which, in turn, is driving the demand for bismuth nitrate in the region. 

Thus, the growth of the pharmaceutical and cosmetic industries will propel the consumption of bismuth nitrate in the foreseeable future.

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Why will Demand for Lubricants Skyrocket in Middle East & Africa in Future?

The mushrooming sales of automobiles, especially in emerging economies, such as India, Mexico, Brazil, and China, owing to the surging disposable income of people, are fueling the demand for lubricants. This is because lubricants are heavily used in the crankcase of an automobile engine in order to ensure the smooth and efficient operation of the vehicle. In addition, these by-products of crude oil assist in reducing friction in vehicles, which subsequently leads to lesser wear and tear and longer lifespan. 

Furthermore, the soaring public awareness about the various benefits of utilizing lubricants in vehicles and machinery is also driving the sales of these crude oil by-products across the world. Many lubricant producers are increasingly adopting different customer-oriented methods for raising brand awareness via visual and print media. Some of the major examples of these methods are trade shows and promotional campaigns. With the help of these platforms, companies are offering free samples and gifts to customers in order to create curiosity and raise public awareness about lubricants and their benefits in various applications.

Apart from the aforementioned factors, the boom in the construction industry is also propelling the expansion of the global lubricants market, as a result of which, the revenue of the market is predicted to rise to $115,350.6 million by 2030. Lubricants are extensively used in various construction equipment in order to ensure their smooth functioning. Owing to this reason, the soaring construction and infrastructural development activities in several countries are predicted to fuel the market at a CAGR of 2.3% from 2020 to 2030.

Geographically, the sales of lubricants will soar in the Middle East and Africa (MEA) region in the coming years, as per the estimates of the market research firm, P&S Intelligence. This will be a result of the presence of several oil wells in the region. Moreover, the availability of crude oil and its numerous by-products, such as lubricants, at affordable prices is allowing manufacturing firms to use lubricants extensively in the region. Furthermore, the surging number of manufacturing facilities is also fueling the demand for lubricants in the region.

Hence, it is quite clear that the sales of lubricants will explode in the coming years, mainly because of the surging sales of automobiles and the rising public awareness about the benefits of using these crude oil by-products in automobiles and construction machinery.

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Adhesives Industry Developing Improved Products with Crotonic Acid

The adhesives industry uses a large volume of crotonic acid for the formulation of adhesives. Crotonic acid-based adhesives are derived from vinyl acetate, which uses the acid as a comonomer. For example, hot melt adhesives are usually prepared by grafting crotonic and acrylic acids onto metallocene ethylene–octene copolymers. Additionally, technological advancements in this sector have resulted in the formulation of advanced adhesives that exhibit excellent flexibility, performance, and bond strength under a wide range of temperatures. Moreover, the surging awareness about different types of advanced adhesives and their benefits will also fuel the consumption of this acid in several industries.

Furthermore, the burgeoning demand for paints and coatings will also help the crotonic acid market demonstrate a CAGR of 7.9% during 2021–2025. The market was valued at $592.0 million in 2020 and it is expected to generate $853.7 million revenue by 2025. Crotonic acid is one of the primary ingredients required for the formulation of paints and coatings, as it forms copolymers when mixed with other chemical compounds. Additionally, the acid is also used in the formulation of a thickener, which is used in the production of glossy emulsion paints.

At present, the crotonic acid requirement in several end-use industries is catered by Spectrum Chemical Manufacturing Corporation, Zhengzhou Tuozhixiang Trading Co. Ltd., Penta Manufacturing Company, WeylChem International GmbH, Tianjin Jinhui Pharmaceutical Group Co. Ltd., ALB Technology Ltd., Kono chem co. Ltd., and Henan Tianfu Chemical Co. Ltd. Crotonic acid manufactured by these companies are used in the formulation of adhesive resins, intermediates, coatings, plasticizers, and fungicides. Currently, the highest volume of this acid is used in the production of adhesive resins due to the burgeoning demand for crotonic acid-based adhesives in the packaging, automotive, electronics, and textile industries.

According to P&S Intelligence, China led the crotonic acid market in the preceding years, and it is projected to maintain its dominance in the forthcoming years as well. This can be ascribed to the escalating need for adhesives, paints, and coatings for the repair and renovation of commercial and residential structures in the country. Besides, the increasing use of the acid as intermediates, fungicides, and plasticizers in the pharmaceutical, agriculture, and chemical industries  will augment the production of the acid in the country in the coming years. 

Thus, the booming demand for paints and coatings, increasing automobile production, and soaring cases of scabies will encourage the use of crotonic acid in the coming years.

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Soaring Energy Requirements Propelling Demand for Power Rental Services

The burgeoning requirement for power, especially in emerging economies, such as India, China, Brazil, Qatar, Thailand, Turkey, and Thailand is driving the demand for power rental services. Moreover, these countries are witnessing rapid technological advancements and surging foreign direct investments in the construction industry, which is further boosting the requirement for power rental services. Additionally, many European and North American countries are expanding their operations in these emerging nations, on account of their huge growth potential.

For example, Aggreko PLC started a joint venture called Shanghai Yude Aggreko Energy Equipment Rental Co. Ltd. with Shanghai Yude, which is a Chinese power rental company, in January 2018 for expanding its business in the country with the help of a trusted and established local partner. Apart from the soaring power requirements in several countries, the presence of outdated power plants, which are highly inefficient and cause environmental pollution, is also driving the demand for power rental services. The governments of many countries are implementing strict regulations for shutting down these power plants.

This will fuel the requirement for power during the redevelopment process, which will, in turn, create lucrative growth opportunities for the players operating in the global power rental market. Owing to these factors, the value of the market is predicted to surge from $9,167.6 million in 2017 to $16,855.5 million by 2023. Furthermore, the market will demonstrate a CAGR of 10.3% between 2018 and 2023, as per the estimates of the market research company, P&S Intelligence.

Amongst these, the requirement for power rental services is predicted to rise rapidly in the utilities sector in the coming years. This is credited to the supply of rented power by various utility companies during the redevelopment or conversion process. Geographically, the demand for power rental services is predicted to soar in the Middle East and Africa (MEA) region in the coming years. This will be because of the surging power requirements in various end-use industries, such as construction and utilities in the region. Additionally, the increasing infrastructure development activities and rising industrialization rate are fueling the requirement for power rental services in the region.

Therefore, it can be said without any hesitation that the demand for power rental services will rise enormously across the world in the coming years, mainly because of the mushrooming requirement for power and the presence of inefficient and outdated power plants in several countries.

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Why is Demand for Geothermal Power Shooting Up Globally?

With the growing demand for renewable energy and clean energy, on account of the escalating pollution levels and depletion of fossil fuels, the demand for geothermal energy is rising rapidly across the world. Moreover, due to the increasing focus on energy security and energy independence, many governments are enacting policies for encouraging the adoption of geothermal energy. For instance, the European Union (EU) aims to achieve at least 20% of their power needs with renewable energy sources by 2020, under the Renewable Energy Directive (RED). 

Additionally, many countries are taking initiatives such as focusing on launching geothermal energy projects, for reducing their oil imports, which is also fueling the expansion of the geothermal power market. Besides, the burgeoning requirement for reducing the emission of greenhouse gases is also creating lucrative growth opportunities for geothermal power producers across the world. Economies such as Germany, China, Australia, France, Portugal, and Ethiopia are making huge investments in geothermal energy, thereby offering immense opportunities for capacity expansion of geothermal energy plants.

Furthermore, geothermal power has various advantages over other renewable energy sources such as wind, bioenergy, and hydropower such as less requirement for large land areas, high availability, and the ability to cause zero or no liquid pollution because of the re-injection of effluent fluid and low atmospheric pollution. Due to the aforementioned factors, the revenue of the geothermal power market is expected to rise from $3,233.5 million in 2015 to $6,518.9 million by 2022. Furthermore, the market will progress at a CAGR of 11.6% from 2016 to 2022 (forecast period).

Thus, it can be said with surety that the demand for geothermal power will surge sharply in the coming years, primarily because of the growing requirement for renewable and clean energy, on account of the soaring pollution levels and implementation of stringent environmental protection laws as well as the enactment of supportive policies by the governments of several countries, and the rapid depletion of fossil fuel reserves all over the world.

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How Are Governments Pushing Solar Micro Inverters Sales?

Energy storage systems are used to decentralize energy reserves, so they can be utilized whenever needed, thereby allowing users to operate the grid more efficiently. The increasing production of energy storage systems, such as solar micro inverters, has resulted in the drop in prices of such devices. The increasing affordability of energy storage devices for solar power will, therefore, help the solar micro inverters market progress at a CAGR of 15.3% during 2016–2026. The market revenue is expected to surge from $431.6 million in 2015 to $1,968.7 million by 2026.

Additionally, the mounting focus on integrated module systems will boost the adoption of solar micro inverters in the forthcoming years. High-performance integrated module systems, also referred to as AC modules, are designed to minimize the installation time and meet the booming power demand. Thus, the accelerating electricity demand, owing to the soaring world population, will fuel the installation of such energy storage devices in the foreseeable future. The United Nations Department of Economic and Social Affairs (UNDESA) predicts that the global population will increase from 7.7 billion in 2019 to 9.7 billion by 2050.

Geographically, North America dominated the solar micro inverters market in the recent past, and it is expected to retain its position throughout the forecast period. This can be ascribed to the rising number of government initiatives encouraging solar PV system installation and the increasing number of residential PV installations. In the coming years, the U.S. will adopt the higher number of solar micro inverters in the region due to the surging environmental concerns and quick shift toward renewable energy sources in the country.

The Asia-Pacific (APAC) region will install solar micro inverters at the fastest pace in the foreseeable future. This will be due to the surging PV installations in China, mounting demand for power, plunging micro inverter costs, and rising technological advancements in these devices. Among APAC nations, China is expected to deploy the largest number of solar micro inverters due to the increasing government support, in the form of grants and funding, for promoting wind and solar energy.

Thus, the mushrooming demand for integrated module systems, plunging costs of energy storage devices, and increasing government support toward PV installations will fuel the deployment of solar micro inverters.

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Asia-Pacific To Be Hub for energy Storage Technologies in Future

The rising requirement for reducing the reliance on gas, coal, and oil for power generation is massively pushing up the demand for energy storage systems. These systems are required in renewable-energy power plants for dealing with the variable power outputs provided by renewable energy sources. These systems smoothen out the power supply, thereby ensuring that the electricity needs are met during the peak hours. Apart from this, storage technologies also enable quick power discharge to the grid.

This rapid response is necessary for ensuring that the grid remains stable during hours of peak energy demand. Unlike the conventionally used fossil fuel-based energy production systems that take a long time to produce and deliver power, these storage technologies help utilities save time. As a result, the global energy storage market size stood at 171,039.3 Megawatts (MW) in 2019 and it is predicted to rise to 240,956.9 MW by 2030. According to the estimates of the market research company, P&S Intelligence, the market will progress at a CAGR of 3.3% from 2020 to 2030. 

The other major factors driving the demand for these technologies the soaring prices of traditionally produced energy across the world, falling costs of batteries, and the escalating pollution levels because of the extensive usage of fossil fuels for power production. In several countries, power plants are operating at full capacities in order to meet the soaring energy demand.

This is propelling the cost of electricity. Additionally, several constraints such as high downstream and logistics costs and the unavailability of a regular and continuous fuel supply are also causing massive fluctuations in energy prices. This is pushing up the requirement for energy conservation, which is, in turn, fueling the growth of the energy storage market. Depending on type, the market is categorized into mechanical, thermal, chemical, and electrochemical. Out of these, the mechanical category held the largest market share between 2015 and 2019.

Geographically, the energy storage market is expected to boom in the Asia-Pacific (APAC) region in the forthcoming years. This will be because of the increasing engineering, procurement, and construction (EPC) activities in the regional countries such as China, India, and Japan. In addition to this, the burgeoning requirement for stable and smart grids and the increasing production of renewable energy are also driving the demand for energy storage systems in the region. 

Hence, it can be safely said that the market will grow massively in the upcoming years, primarily because of the increasing generation of renewable energy, lack of stable grids in several countries, and fluctuating prices of conventional energy sources such as oil and coal.

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Demand for Hydrogen Storage Systems Rising for Transportation Purposes

Despite being the most-abundant element on earth, hydrogen is close to being utilized to its complete potential. It has perhaps found the widest use as rocket fuel, along with liquid oxygen; its usage in other applications remains limited. The major reason behind this is the high cost associated with extracting the gas from the atmosphere or hydrogen-based compounds, storing it, and transporting it. One of the simplest ways of producing it is reacting steam and methane; while steam takes almost nothing to produce, methane is expensive. Similarly, the expenditure in H2 production via electrolysis is governed by electricity prices, which keep on increasing.

However, seeing the negative environmental impact of burning crude oil, natural gas, and coal to produce electricity and power vehicles, the focus on cleaner fuels is rising. The efforts to clean the environmental have especially picked pace since the signing of the Paris Agreement in 2016, which has spawned extensive research and development (R&D) in hydrogen production, storage, and transportation technologies. Thus, with the demand for the gas increasing, the hydrogen storage market will likely reach $991.7 million by 2026 from $426.4 million in 2015, at a 7.6% CAGR between 2016 and 2026 (forecast period).

The gas can be stored either in its pure/liquid form or within a number of hydrogen-based compounds. Physical storage is more-widely practiced since it is easier and cheaper. Moreover, the demand for pure hydrogen is increasing in a wide range of applications, including ammonia production, metal working, crude oil refining, glass production, and transportation. Not many know this but the usage of hydrogen to run automobiles was first demonstrated in 1807, long before the first gasoline (petrol) car, Karl Benz’s 1886 Patent Motorwagen, came out!

With the increasing environmental concerns, the use of hydrogen for transportation has regained interest. Fuel cells are currently being extensively experimented upon to realize the utility of the gas as a feasible motor fuel. The advantage with H2 is that on reacting with oxygen inside a fuel cell to produce electricity or an internal combustion engine (ICE) to directly produce mechanical energy, the by-product is water and no practical greenhouse gas (GHG) emission.

Additionally, North America will grow the fastest in the hydrogen storage market during the forecast period due to the rapid advancements in the hydrogen fuel technology for vehicles. With stringent emission regulations in place, people are swiftly shifting to cleaner fuels. This is being accompanied by the expansion of the hydrogen filling infrastructure; as per the U.S. Department of Energy (DoE), there were only 39 hydrogen filling stations in the country in 2018, which is why efforts are being taken to increase their number.

Hence, with the world shifting to environment-friendly technologies, the demand for storage solutions for hydrogen will continue to increase.

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How Is Demand for Facility Management Services in Qatar Tied to Air Pollution?

As one of the key crude oil exporting countries, Qatar is witnessing the ill-effects of the growing environmental concerns related to the usage of fossil fuels. Considering the continuous shift to renewable energy, the country has begun preparing for the day when the oil demand reduces to naught. Thus, other sectors, such as education, manufacturing, transportation, healthcare, hospitality, and tourism, are being developed in order to reduce the dependence on the oil trade and diversify the national economy. Being undertaken majorly under the Qatar National Vision 2030, such diversification is resulting in the rampant construction of infrastructure across industries.

As per P&S Intelligence, boosted by the increasing building and construction activities, the Qatar facility management market size will likely witness a 16.4% CAGR between 2020 and 2030 (forecast period), to reach $21,975.1 million by 2030 from $4,613.0 million in 2019. This is because once built and leased out, physical settings, such as commercial zones, office complexes, factories, schools and higher education institutes, hospitals, hotels, and even tourist attractions require an array of maintenance and repair services for smooth operations over a long time.

Thus, with the construction boom, the demand for property, security, cleaning, catering, environmental management, support, and other services is rising in the country. Among these, property services are demanded the most because they are among the basic that a building requires for its functioning. Property services include heating, ventilation, and air conditioning (HVAC) maintenance, mechanical and electrical maintenance, sales and leasing, space planning and design, general maintenance, rental property advertising, and asset management.

The bifurcations under the mode segment of the Qatar facility management market are outsourced and in-house. Till now, most industrial and commercial companies and residents have been employing third parties for the task, which is why outsourced bifurcation held the larger share in 2019. In the coming years, with the rising awareness of facility management as a service sector, even more companies will outsource these tasks. This is because this mode reduces the operational costs, at the same time, leaving enterprises free to focus on their core business area, rather than worrying about repairs and maintenance.

Numerous companies operate in the Qatar facility management market, including Engie Cofely, COMO Facilities Management Services, Mosanada Facilities Management Services, Al-Asmakh Facilities Management W.L.L., OCS Qatar L.L.C., CBM Qatar LLC, Cayan Facility Management, Al Tamyoz Business Group, Elegancia Hospitality & Facility Management Services, Conservo Facility Management Co. W.L.L., AMWAJ Catering Services, Facilities Management & Maintenance Company L.L.C., Confident Enterprises W.L.L., QAFAM, Al Mirqab Facilities Management, Waseef, Darwish Interserve Facilities Management W.L.L., Q-TEC ELECTRIC W.L.L., EFS Facilities Services Group, and The Maintainers. Most of them are focusing on winning client service contracts for gaining a larger share in the industry.

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Which Chemicals Are Rising in Demand due to Waste Disposal Regulations?

The federal government of the U.S. has enacted the Clean Water Act (CWA) to prohibit the discharge of any pollutant into navigable water unless permission is obtained under the National Pollutant Discharge Elimination System (NPDES) permit program of the U.S. Environmental Protection Agency (EPA). As per this regulation, industrial facilities, municipalities, residential units, and commercial structures must obtain clearance before discharging waste into surface waters directly. Stringent government regulations such as this are encouraging the usage of water treatment chemicals across the world.

Moreover, the increasing desalination activities in countries with limited freshwater reserves are expected to drive the water treatment chemicals market at a CAGR of 5.2% during the forecast period (2020–2030). According to P&S Intelligence, the market was valued at $48,938.1 million in 2019, and it will generate $85,341.8 million revenue by 2030. Water-starved countries, such as the U.A.E., Saudi Arabia, Qatar, and African nations, are generating an enormous demand for high-quality freshwater due to the rapid surge in their population.

The type segment of the water treatment chemicals market is classified into oxidants, corrosion inhibitors, oxygen scavengers, chelating agents, scale inhibitors, anti-foaming agents, coagulants and flocculants, pH adjusters and stabilizers, biocides and disinfectants, and others, such as resin cleaners and algaecides. Under this segment, the coagulants and flocculants category is expected to witness the fastest growth during the forecast period due to the large-scale consumption of these chemicals in the water purification, sludge thickening, solids removal, lime softening, and solids dewatering processes.

Geographically, the Asia-Pacific water treatment chemicals market generated the highest revenue in 2019, and it is likely to continue on this path throughout the forecast period. This can be attributed to the expanding industrial base and escalating demand for clean water on account of the improving living standards of people. Additionally, the APAC market will showcase the fastest growth during the forecast period due to the rising public awareness regarding the vitality of treated water, rising number of government regulations on water treatment, and growing prevalence of waterborne diseases.

Thus, the toughening government legislations on water treatment and soaring public awareness regarding waterborne diseases will fuel the consumption of chemicals that can make this precious resource fit for human consumption again and again.

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