How Will Surge in Disposable Income Drive Polyimide Film Demand?

Statistics Canada states that the household disposable income of the country increased from $ 1,272,838,000,000 in 2019 to $1,399,546,000,000 in 2020. Moreover, the OECD estimates that the average household net adjusted disposable income per capita of Switzerland stands at $37,466 every year, which is greater than the OECD average of $33,604 a year. Furthermore, the National Bureau of Statistics of the People's Republic of China reveals that the per capita disposable income of the nation stood at $5,523 in 2021, which registered an increment of 9.1% year-on-year in nominal terms.

The surge in the disposable income of people in developed and developing countries has resulted in the large-scale adoption of consumer electronics worldwide. Owing to this reason, the polyimide film market will exhibit significant growth in the coming years. The surging use of PI films in the automotive and electronics industries can be credited to the high thermal stability, lightweight, water absorption, excellent durability, and damp-proof usage of such films. Due to such advantageous properties, PI films are used in the production of pressure-sensitive tapes, flexible printed circuits, and wires.

Additionally, the rising vehicle sales and ongoing technological advancements in the automobile sector will also amplify the use of PI films in the foreseeable future. The OICA states that vehicle sales in Europe, North America, Africa, Central and South America, Asia/Oceania/Middle East, and Russia, Turkey and other Europe grew from 6,016,238 units to 7,769,807 units, 8,827,242 units to 11,521,877 units, 369,571 units to 555,988 units, 1,209,843 units to 1,772,866 units, 16,876,658 units to 21,372,188 units, and 1,022,148 units to 1,409,124 units, respectively, from January–June 2020 to January–June 2021.

In the recent past, the FPC category accounted for the largest share in the polyimide film market, within the application segment. The dominance of this category can be owed to the increasing use of PI films in the production of FPCs, as they offer greater thermal resistance than epoxy resins, polycarbonates, and polyurethanes. In contemporary times, PI films are being increasingly used in the production of lightweight and compact FPC assemblies.

Electronics, medical, aerospace, automotive, mining and labelling companies use PI films manufactured by Arakawa Chemicals Industries Ltd., E.I. Du Pont De Nemours and Company, FLEXcon Company Inc., I.S.T. Corporation, Kaneka Corporation, SKCKOLONPI Inc., Saint-Gobain S.A., Taimide Tech. Inc., UBE Industries Ltd., and Yunda Electronic Materials Co. The high-volume usage of PI films by such companies can be credited to the burgeoning demand for improved devices and coating materials from end users.

Thus, the escalating use of consumer electronics and rising automobile sales will facilitate the adoption of PI films globally.

Read More: https://www.psmarketresearch.com/market-analysis/polyimide-film-market

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Why Is Electronics Industry Using Liquid Crystal Polymers?

The increasing demand for electronic devices globally is propelling the requirement for liquid crystal polymers. Smartphones, computers, LED TVs, and microwaves have become part of almost every urban household due to the increasing per capita income and growing population in nations such as India, China, Indonesia, and Brazil. Liquid crystal polymers have aided in the development of these products as they have advanced electrical and mechanical properties. Thus, the growth in the demand for consumer electronics has motivated chemical companies to market their liquid crustal polymers to the electronics sector.

Essentially, the demand for high material strength at extreme temperatures and perfect dimensional stability are playing the key role in the advance of the liquid crystal polymer market around the world. All these properties have made these materials an optimal electronic substrate, therefore, a popular packaging material for the high-frequency circuit boards that are utilized in semiconductors, which are, in turn, integrated into consumer electronic products. Therefore, among all industries, the demand for these materials is the highest in the semiconductor sector.

Moreover, of the two types of this material, thermotropic variants are consumed in the higher quantities. This is majorly due to the fact that thermotropic liquid crystal polymers are wildly utilized as display materials, optical couplers, information storage materials, and blend additives. This is because they are highly compatible with other semiconductor materials, which is why the surging electronics industry is the primary reason behind the growing demand for them.

Therefore, in the preceding years, the liquid crystal polymer market was led by APAC, due to the presence of numerous semiconductor manufacturing hubs in countries such as China, Japan, and Taiwan. The demand for semiconductors is rising owing to the rapid growth in the consumer electronics industry in India and Vietnam. Additionally, most of the major manufacturers of liquid crystal polymers, including Celanese Corporation, Polyplastics Co. Ltd., Toray Industries Inc., and Sumitomo Chemical Co. Ltd., either have manufacturing plants or their very headquarters in the region.

These companies are increasingly catering to domestic automotive, weaponry, and home appliance manufacturers. Some of the most-iconic companies across these industries, such as Sony, Toshiba, Samsung, Videocon, LG, Tata, Blue Star, Asus, Haier, and Hitachi, are headquartered and have numerous manufacturing plants in regional countries. Moreover, TSMC, the largest semiconductor foundry in the world, is based in the region. The presence of all these companies directly or indirectly drives the requirement for liquid crystal polymers in the APAC region.

Therefore, the soaring manufacturing of electrical products will lead to a continuous increase in the demand for liquid crystal polymer in the coming years.

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How Does Anti-Counterfeit Packaging Technology Help in Tracking Shipments?

Solutions for ensuring the secure and safe packaging of products, aiming to reduce brand infringement and counterfeiting, are being widely adopted by various sectors. Such anti-counterfeiting solutions are being integrated with advanced technologies to allow for the smooth shipment of products along the supply chain. Manufacturers can track and trace their shipments and stop fakes from making it to the market. Additionally, consumers benefit from proper packaging and labeling as they tell them whether the product is genuine or fake.

Resultingly, the pharmaceutical and healthcare category will exhibit the fastest growth in the application segment of the anti-counterfeit packaging market in the coming years. These technologies are finding rapid adoption to counter the trade of fake pharmaceutical products, which not only harm the business prospects for genuine labels but also pose a grave threat to consumers. As per Interpol, fake medical products worth $23,414,483 were seized globally under Operation Pangea in 2021. Since pharma and medical devices are a rapidly growing industry, the threat of counterfeits is o becoming bigger here.

In the past, North America held the largest share in the anti-counterfeit packaging market, and it is also expected to maintain its dominance in the coming years. It is attributed to the presence of a large number of food and beverage, pharmaceutical, and other consumer goods companies in this region. The FDA has stringent regulations for the information proper packaging must include, such as the batch number, manufacturing and expiry dates, and manufacturer information, including a unique code, which can be a hologram, barcode, QR code, or any other visual cue.

Therefore, the key reason behind the growth of the anti-counterfeit packaging market in the region is the increasing consciousness of the fact that most of the counterfeits originate in this region, which then make their way to all parts of the world. Therefore, consumers in the region are being educated on the harms of counterfeits and ways to tell real from fake. A key focus of such awareness campaigns is packaging as it is the first thing that catches customers’ eye and is a representative of the manufacturer.

Hence, the need for a secure shipment process for various products, to remove counterfeits from circulation, will propel the demand for anti-counterfeit packaging technologies in the coming years.

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Why Is Cut-Size Uncoated Freesheet Paper Important in Education Institutes?

In a way, paper helps in the growth of the global economy as It is used in almost all places, such as offices, factories, and homes. Moreover, the surging number of educational institutions has provided a lucrative growth opportunity to paper manufacturers. Even now, paper is the most-significant tool for enhancing literacy and providing education in emerging economies, such as Brazil and India. Thus, the growing economy of these countries is propelling the cut-size uncoated freesheet paper market around the world.

India is playing a significant role in this regard as its vast education sector has over 700 universities and 1.5 million schools. These numbers are expected to rise in the coming years, which will continue to create a high demand for this type of paper. Similarly, Brazil has around 30 million students in over 140,000 schools. Despite the governments’ push for digitization, paper is the key material for conveying information in the education sector of these countries because of the unequal access to digital technologies.

Therefore, APAC consumed the highest quantities of this material for different uses in the past. The cut-size uncoated freesheet paper market is also expected to be dominated by this region in the coming years. It will be due to the increasing number of offices and educational institutes, which is propelling the paper industry in regional countries. With over 4 billion people, APAC creates a huge demand for all kinds of paper each day.

Moreover, regional governments are aggressively supporting the education sector and building new schools and universities to accommodate the growing number of adolescents and children. This will ultimately push up the requirement for cut-size uncoated freesheet paper, which is widely used in books and as exam sheets. Similarly, the growing professional population will drive the consumption of this material, especially to feed printers in offices. Additionally, China and India produce a huge quantity of paper, thereby leading to its easy availability.

Therefore, due to the growth of the corporate and education sectors across the world, the demand for cut-size uncoated freesheet paper will increase in the coming years.

Read More: https://www.psmarketresearch.com/market-analysis/cut-size-uncoated-freesheet-paper-market

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Asian Charcoal Briquettes Market To Progress At Over 6% CAGR during 2020–2024

The Asian charcoal briquettes market was valued at $952.5 million in 2019, and it is predicted to reach a revenue of $1,158.4 million by 2024. According to the estimates of the market research company, P&S Intelligence, the market will demonstrate a CAGR of 6.2% from 2020 to 2024 (forecast period). The market is being propelled by the growing popularity of barbecued food items and expanding steel and cement industries, where heat is critically required, across the region. 

In recent years, the popularity of barbecued foods has grown massively in Asian countries. As charcoal briquettes are extensively used as a fuel for barbecue applications, owing to their ability to provide a smoky flavor and caramelized texture to the food, the growing popularity of barbecued foods is fueling the demand for charcoal briquettes in Asia. The rising public awareness about health and wellness and healthy diets is pushing up the demand for grilled and barbecued foods, which is, in turn, creating lucrative growth opportunities for charcoal briquette producers in the region. 

When application is taken into consideration, the Asian charcoal briquettes market is divided into industrial, metallurgical, and barbecue. Out of these, the industrial category is predicted to demonstrate the fastest growth in the market in the coming years. This is ascribed to the growing adoption of charcoal briquettes as a fuel in the crop processing, food processing, and textile industries and industrial boilers. Moreover, the enactment of strict environmental regulations by the governments of several countries is also propelling the advancement of the category. 

Japan is predicted to be the fastest-growing country in the Asian charcoal briquettes market in the forthcoming years. This is attributed to the fact that the country employs the use of nearly all of its charcoal briquettes for grilling food, and as the 2020 Olympics (which has been postponed to 2021) will take place in Japan, the requirement for barbecued foods is predicted to shoot up in the country in the coming years. Additionally, the increasing tourist footfall is also predicted to push up the requirement for charcoal briquettes in the country in the coming years.

Hence, the sales of charcoal briquettes will surge sharply in Asia in the coming years, mainly because of the soaring popularity of grilled and barbecued food items in the region.

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Why is Demand for Mechanical, Electrical, and Plumbing Services Soaring in U.A.E.?

With the expansion of the hospitality industry, primarily because of the surge in the travel and tourism industry, the demand for mechanical, electrical, and plumbing (MEP) services is rising sharply in the U.A.E. In recent years, the launch of various tourism development programs and plans, such as the Sharjah Tourism Vision 2021 and the Dubai Tourism Vision, has caused a massive rise in tourist footfall in the country. Additionally, the Forbes travel guide has recently included Dubai in its list of the top 20 places to visit in 2020, which has massively boosted the hospitality industry in the city. 

Apart from the aforementioned factor, the surging construction activities and the launch of several infrastructural development projects, especially in the transportation sector, are also driving the expansion of the U.A.E. mechanical, electrical, and plumbing (MEP) services market, owing to which, the revenue of the market is expected to rise from $3,025.9 million in 2020 to $12,946.9 million by 2030. Furthermore, the market is predicted to progress at a CAGR of 15.7% from 2021 to 2030. 

Several infrastructural development projects, such as the Route 2020 project, which is basically the metro railway expansion project (extension of the Dubai metro red line), Port of Ruwais, and the phase III of Etihad Rail, which is aimed at building a 1,200 km rail network across the country, are augmenting the requirement for HVAC systems, gas pipelines, plumping systems, and lighting systems in the country.

Depending on type, the U.A.E. MEP services market is divided into electrical, plumbing, and mechanical services. Amongst these, the electrical services category is predicted to exhibit the highest CAGR in the market in the upcoming years. This is ascribed to the existence of several uninterruptable power supply (UPS) systems, security systems, light and related control systems, and building management systems in large buildings or premises. Moreover, as all other services within a building are heavily reliant on electricity supply, which serves as the base for various other functions, its regular servicing is extremely critical. 

When end user is taken into consideration, the U.A.E. MEP services market is classified into retail, residential, industrial, commercial, healthcare, government, and hospitality categories. Out of these, the commercial category contributed the highest revenue to the market in 2020. This was due to the existence of several commercial establishments in the country. Furthermore, regular maintenance and servicing of MEP equipment is necessary, as it ensures the safety of the occupants by preventing potential accidents and hazards. 

Thus, in order to meet the escalating demand for these services, the players operating in the U.A.E. MEP services market are focusing on entering collaborations and partnerships, as per the observations of the market research company, P&S Intelligence. For example, Azizi Developments hired Mario Associates in November 2020 to provide MEP advisory and design review services for its upcoming projects all over Dubai. Furthermore, a distribution deal was signed between Leminar Air Conditioning Company and Zurn Industries (USA) in February 2020. As per this deal, Leminar Air Conditioning Company became the U.A.E. distributor of the specialty plumbing valves manufactured by Zurn Industries. 

Hence, the demand for MEP services will soar in the U.A.E. in the upcoming years, mainly because of the rapid development of hotels and resorts and increasing construction and infrastructure development projects in the country.

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300–450 TBN Calcium, Barium, and Magnesium Sulphonates Market Value To Grow At 10.9% CAGR during 2020–2030

The 300–450 TBN calcium, barium, and magnesium sulphonates market revenue is predicted to rise from $73.5 million in 2019 to $231.2 million by 2030. According to the estimates of the market research company, P&S Intelligence, the market will demonstrate a CAGR of 10.9% from 2020 to 2030 (forecast period). The market is being driven by the surging use of these chemicals, owing to their eco-friendliness and various beneficial traits of greases based on calcium sulphonates.

Moreover, calcium sulphonate-based greases provide various advantages, such as extreme pressure-resistance, anti-wear advantages, better water resistance, mechanical stability, and adequate corrosion resistance, which make them ideal for use as a thickener in greases, majorly in applications where high performance is required. In addition, the falling purchase cost of calcium sulphonate, on account of the rapid technological advancements in the production process, is pushing up its popularity among end users, such as steel, paper machinery, and mining industries. 

Depending on type, the 300–450 TBN calcium, barium, and magnesium sulphonates market is divided into calcium sulphonate, barium sulphonate, and magnesium sulphonate categories. Out of these, the calcium sulphonate category is predicted to demonstrate the fastest growth in the market in the coming years. This is credited to the fact that this salt is used in large amounts in marine, steel, automotive, and food processing industries because of its appreciable hydrophobicity and high stability in extreme pressure.

When end use is taken into consideration, the market is categorized into automotive, marine, machinery, and industrial. Out of these, the automotive category contributed the highest revenue to the market in 2019, owing to the fact that lubricants and greases containing the sulphonates of calcium, barium, and magnesium are extensively used in chassis, universal joints, ball joints, wheel bearings, suspension parts, rolling bearings, electronic power steering, and mirror gears. Additionally, the increasing need to minimize the environmental damage, particularly in developing nations, such as the U.S. and Canada, is propelling the demand for environment-friendly metallic sulphonates. 

Geographically, the Asia-Pacific region is expected to dominate the 300–450 TBN calcium, barium, and magnesium sulphonates market in the years to come. This will be because of the growing requirement for passenger cars and commercial vehicles. The integration of turbocharged direct-injection engines in passenger cars is driving the requirement for greases and lubricants with stronger additives, such as calcium sulphonates. The players operating in the industry are focusing on acquisitions in order to expand their product portfolio and geographical reach to gain a competitive edge.

For example, FUCHS PETROLUB SE completed the acquisition of Nye Lubricants Inc., which is a producer of specialty synthetic lubricants, in February 2020. The acquisition was done so that FUCHS could add new products to its portfolio of specialty lubricants, which would help the company cater to the requirements in various critical and high-end applications. Eni SpA, Daubert Chemical Company Inc., Afton Chemical Corporation, Eastern Petroleum Private Limited, Lockhart Chemical Company, MORESCO Corporation, King Industries Inc., and Jinzhou Kangtai Lubricant Additives Co. Ltd. are some of the major companies operating in the 300–450 TBN calcium, barium, and magnesium sulphonates market.

Thus, the demand for 300–450 TBN calcium, barium, and magnesium sulphonates will shoot up all over the world in the forthcoming years, mainly because of their ballooning popularity owing to their eco-friendliness.  

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India Industrial Aerosol Market To Generate $115.85 Million Revenue by 2030

A number of factors such as rapid industrialization, rise in use of aerosol in automobiles factories and aftermarket, surge in the number of government initiatives for research and development (R&D), and high growth in the manufacturing sector, and rise in disposable income of people in the country are projected to propel the growth of the Indian industrial aerosol market at a CAGR of 5.6% during the forecast period (2020–2030). According to P&S Intelligence, the market generated $70.95 million revenue in 2019, and it is expected to reach $115.85 million by 2030.

Moreover, key players in the Indian industrial aerosol market are focusing on product launches to gain a competitive edge. For instance, in November 2020, CRC Industries Inc. announced the introduction of a multi-use automotive component that acts as a cleaner and degreaser for cleaning air intakes, chokes, throttle bodies, carburetors, brake drums, and rotors. Similarly, in May 2020, 3M Company introduced 3M Scotchkote Polytech Exp RG700, an anti-heat solution for the Indian Railways. Application of this solar-reflective layer reduces the temperature inside an enclosure and it is suitable for an array of metallic and non-metallic substrates.

The application segment of the Indian industrial aerosol market is categorized into spray paints, maintenance, cleaning, and others. Further, the cleaning application category is classified into engine cleaners, electronics cleaners, carpet cleaners, tire cleaners, and others. Moreover, the maintenance application category is classified into de-icers, silicones, anti-fogs, and others. Among these, the spray paints category held the largest market share in 2019, and it is projected to witness the same trend in the coming years as well. This is attributed to the growing Indian manufacturing sector and automotive aftermarket and the surging purchasing power of people in the country.

Due to the presence of multiple players, the Indian industrial aerosol market is fragmented in nature. Players such as Pidilite Industries Limited, Zenith Spray and Aerosols Private Limited, Indian Aerosols Pvt. Ltd., Aerosol Specialities (India), OKS Speciality Lubricants India, PRIME AEROSOLS, Aerol Formulations Private Limited, S. S. Aerosols Pvt. Ltd., Twin Tech India Pvt. Ltd., and Renuka Multichem, are producing high volumes of aerosols to be consumed by the automotive, cosmetics, and manufacturing sectors of the country.

Thus, the growing manufacturing industry and the rising use of aerosol in automobiles factories and aftermarket are expected to propel the market growth during the forecast period in the country.

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Self-Healing Materials Market To Boom in Europe in Coming Years

The global self-healing materials market revenue stood at $1.1 billion in 2020 and it is predicted to rise rapidly from 2021 to 2030 (forecast period). The growing use of self-healing materials in the healthcare, electronics, and automotive industries, their better long-term financial benefits than conventional materials, and rapid advancements being made in the advanced material domain are the major factors fueling the expansion of the market all over the world. 

Self-healing materials assist in increasing the average lifespan of equipment by repairing damages and slowing down entropy. They are majorly used in the aerospace, oil and gas, building and construction, and automotive industries. Some of the major applications in the automotive industry are anti-scratch polyurethane coatings that are based on self-healing elastomers for vehicle bodies. In the construction sector, self-healing asphalt is extensively used. Several oil-containing capsules are incorporated in the bituminous binder for extending the lifespan of the asphalt roof covering.

Globally, Europe contributed the highest revenue to the self-healing materials market in the years gone by. Furthermore, as per the estimates of the market research company, P&S Intelligence, the market will expand rapidly in the region during the forecast period. This is attributed to the existence of several key industry players, increasing R&D activities, growing use of these materials in the automotive sector, and surging implementation of government initiatives for improving product security in various fields in the region. 

The players operating in the industry are focusing on product launches in order to bolster their position and reach out to a larger number of customers. For example, Autonomic Materials used protective coating systems for examining its self-healing materials in January 2020. Furthermore, it was proved via multiple trials that low-volatile organic compounds (VOC) water-borne self-healing coatings are very useful for imparting resistance against corrosion and they are as good as the highly volatile solvent-borne materials. 

Hence, it is safe to say that the market will grow rapidly in the coming years, mainly because of the mushrooming use of self-healing materials in various industries, such as automotive, electronics, construction, and healthcare, and rapid technological advancements in these materials. 

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Discovery of Shale Gas Reserves Will Facilitate Proppant Consumption

The World Shale Resource Assessments released by the U.S. Energy Information Administration (EIA) estimates that Canada, the U.S., Mexico, Australia, Brazil, Russia, Germany, the U.K., South Africa, China, India, and Thailand have 572.9 trillion cubic feet (TCF), 622.5 TCF, 545.2 TCF, 429.3 TCF, 244.9 TCF, 284.5 TCF, 17.0 TCF, 25.8 TCF, 389.7 TCF, 1115.2 TCF, 96.4 TCF, and 5.4 TCF of unproved technically recoverable wet shale gas, respectively. The discovery of new reservoirs of shale gas creates a huge requirement for frac sand, as it breaks the pores in reservoirs to bring the gas to the surface.

Thus, the increasing requirement for frac sand is expected to accelerate the proppant market at a CAGR of 9.5% during 2018–2023. According to P&S Intelligence, the market revenue stood at $6,057.0 million in 2017 and it will reach $10,562.9 million by 2023. Proppant refers to a solid material that is used to keep hydraulic fractures open during the hydrofracking treatment of reservoirs. This material is available in different sizes and sphericity to optimize well productivity. 

Globally, the North American region dominated the proppant market in the last few years due to the introduction of longer laterals to increase natural gas production, moderate recovery in oil prices, and surge in material loading levels in the U.S. and Canada. Moreover, the surge in hydraulic fracturing activities will also lead to the large-scale consumption of proppants in the region. Further, the Asia-Pacific (APAC) region is also expected to use a considerable volume of proppants in the foreseeable future, owing to the soaring popularity of sand materials and burgeoning production of unconventional natural gas.

Therefore, the rapid discovery of shale gas reservoirs and extensive requirement for ceramic and resin-coated materials in the oil and gas sector will augment the consumption of proppants globally.

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Why Are Appearance-Conscious Patients Preferring Surgical Glue?

With the increasing prevalence of acute and chronic diseases, surgery volume is increasing globally. Surgeries are conducted for therapeutic purposes, as well as diagnostic purposes (such as laparotomies). Moreover, many people go under the knife just for aesthetic purposes. All this is resulting in a rising requirement for a variety of tools and materials, such as scalpels, cautery, forceps, drills, bone saws, sutures, tissue staples, and surgical glue.

This is the reason P&S Intelligence forecasts that the surgical glue market will grow from $3,810.5 million in 2017 to $6,936.5 million by 2023, at a 10.6% CAGR between 2018 and 2023. Surgical glue is increasingly being preferred over sutures and staples because it causes less pain and scarring. Moreover, it reduces the hospital stay, thereby helping patients in cost saving, and allows them to return to their daily chores, office, or school quicker.

In this regard, the increasing appearance consciousness is propelling the demand for such materials in two ways. First, in order to look good, people are increasingly going for cosmetic procedures. As per the International Society of Aesthetic Plastic Surgery (ASAPS), compared to 10,607,227 in 2018, 11,363,569 surgical aesthetic procedures were conducted around the world in 2019. Since they are performed for looking good, patients are preferring surgical glue over stitches and staplers, which are the two ways in which the growing cosmetic surgery volume is propelling surgical glue usage.

On account of such extensive R&D, North America is set to continue to be the leading surgical glue market in the coming years. The region is already home to a large number of hospitals, which is why the surgery volume is the highest here. Moreover, due to the strong financial situation of the majority of its residents, the plastic surgery volume is also increasing in the continent. Additionally, investments for the procurement of the latest medical devices and supplies are surging, thereby leading to the rising sale of surgical glue.

Hence, the demand for surgical glue will rise with the increasing volume of surgeries around the world.

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Why are Worldwide Sales of UV Metalized Caps and Closures Booming?

The burgeoning requirement for metalized caps and closures in the cosmetics industry and soaring need for foods and beverages, especially in developing countries, on account of the rising disposable income of people, are the major factors driving the demand for UV metalized caps and closures across the world. As these caps and closures are used extensively in the food and beverage sector, the expansion of this sector is positively impacting the worldwide sales of these caps and closures, which is, in turn, propelling the progress of the global UV metalized caps and closures market. 

Besides, the surging consumption of alcohol is also predicted to fuel the demand for UV caps and closures. For instance, the consumption of alcohol in Australia soared from 9.52 liters per capita during 2014–2015 to 9.70 liters per capita during 2015–2016. Moreover, it rose even more and reached 9.72 liters per capita in 2018. Owing to these factors, the revenue of the UV metalized caps and closures market will grow from $297.0 million in 2017 to $378.9 million by 2023, as per the forecast of the market research firm, P&S Intelligence.

Aluminum and alloy are the two main metallizing materials used in UV metalized caps and closures. Gold, silver, platinum, and chromium are the most widely used metalizing materials. Out of these, the use of aluminum was found to be the highest in these applications, owing to its various beneficial traits, such as low weight, low cost, resistance to corrosion, and similar glossiness to silver. Moreover, aluminum is being increasingly used as a metalizing material in packaging applications in various industries, such as skincare, fragrance, food and beverage, and cosmetics. 

Of the two, the demand for these caps and closures was found to be higher in the cosmetics, fragrance, and skincare sector during the last few years, on account of their several unique characteristics, such as the ability to provide premium look and improved durability and ensure the elimination of various surface imperfections, which usually develop during the manufacturing process. Geographically, the sales of UV metalized caps and closures were observed to be the highest in Europe in the past. This was because of the high production capacity and manufacturing cost optimization by manufacturers via low-cost raw material sourcing in the region. Additionally, the demand for these caps and closures is rising sharply in regional countries, such as Poland, Hungary, Slovakia, and Czech Republic.

Hence, it can be safely said that the demand for UV metalized closures will grow sharply in the coming years, primarily because of their rising requirement in the food and beverage sector all over the world.

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High Disposable Income To Fuel Automotive Refinish Coatings Sale in Indonesia

The Central Bureau of Statistics, the U.S., states that the per capita disposable income of Indonesia surged from IDR 38,555.200 in 2017 to IDR 41,287.100 in 2018. The rising mounting disposable income of people has led to a significant surge in the purchasing power of people in local demographics, owing to which Indonesia is witnessing the large-scale introduction of numerous differentiated products, such as basecoats, clearcoats, and primers and fillers. Thus, the increasing disposable income is expected to accelerate the usage of automotive refinish coatings in the country.

Additionally, the increasing number of vehicles in the country will also help the Indonesian automotive refinish coatings market advance at a CAGR of 4.9% during 2018–2023. According to P&S Intelligence, the market was valued at $240.2 million in 2017 and it will generate $336.6 million revenue by 2023. The International Organization of Motor Vehicle Manufacturers (OICA) states that Indonesia produced 551,400 units of passenger cars and 139,886 units of commercial vehicles in 2020.

Currently, the companies providing automotive refinish coatings in Indonesia are actively focusing on the procurement of refinishing products and raw materials from their global manufacturing plants and distributing these products to automobile original equipment manufacturers (OEMs) and aftermarket firms offering vehicle parts. Companies, such as BASF SE, Kansai Paint Co. Ltd., PT. Hartwell Paint Indonesia, PT. Victorindo Pratama Mandiri, PT. NP Auto Refinishes Indonesia, Akzo Nobel N.V., The Sherwin-Williams Company, PT. Anugerah Berkat Cahayaabadi, KCC Corporation, The Lubrizol Corporation, and PT. Danapaint Indonesia, produce epoxy, alkyd, acrylic, polyurethane, and polyester-based refinish coatings in Indonesia. 

The aforementioned companies use ultraviolet (UV)-cured, solvent-borne, and water-borne technologies to produce refinish coatings for cars, two-wheelers, and commercial vehicles. In the last few years, solvent-borne refinish coatings were consumed in the highest volume in Indonesia due to the availability of a diversified portfolio of such products and their low drying time. Refinish coatings applied on vehicles can be availed from aftermarket companies and OEMs. In the coming years, the aftermarket sales channel will gain traction in Indonesia due to the growing number of pre-owned car dealerships and the increasing number of custom car and car repair shops in the country. 

Therefore, the soaring disposable income of people and the rising number of automobiles will facilitate the adoption of automotive refinish coatings in Indonesia in the years to come.

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How Will Investments in Agrarian Sector Drive Agricultural Adjuvants demand?

The United Nations Department of Economic and Social Affairs (UNDESA) forecasts that the world population will surge from 7.6 billion in 2017 to 8.6 billion by 2030, 9.8 billion by 2050, and 11.2 billion by 2100. As per the UNDESA, the global population is increasing by approximately 83 million every year. The booming world population will create a huge demand for food crops, cash crops, and horticulture crops, owing to which the agrarian community will use agricultural adjuvants in abundance.

Additionally, the mounting investments being made in the agriculture sector will also help the agricultural adjuvants market exhibit a CAGR of 5.5% during 2020–2030. The market revenue will grow from $3,106.7 million in 2019 to $5,485.1 million by 2030. For example, in September 2021, the U.S. Department of Agriculture (USDA) announced an investment of $3 billion in agriculture, animal health, nutrition. Further, the Government of Indonesia and the International Food Policy Research Institute (IFPRI) prepared the Policies to Support Investment Requirements in Indonesia's Food and Agriculture Development during 2020–2045 report to strengthen the agriculture sector. 

According to P&S Intelligence, the North American region dominated the agriculture adjuvants market in the preceding years, primarily on account of the presence of local manufacturers. Additionally, the regulatory support being offered to adjuvant producers and related agrochemical companies will also facilitate the production of agricultural adjuvants in the region. Moreover, the non-existence of federal regulations on the application of such adjuvants in the U.S. also propels the consumption of these agrochemicals in North America.

Furthermore, the Asia-Pacific region will also consume a notable volume of agricultural adjuvants in the forthcoming years, due to the surging demand for food products. The increasing food demand can be ascribed to the booming population in developing countries, such as India and China. The World Bank states that the population of India and China grew from 1.353 billion in 2018 to 1.366 billion in 2019 and 1.398 billion in 2019 to 1.402 billion in 2020, respectively. 

Thus, the escalating food demand and increasing investments in the agriculture sector will propel the consumption of agricultural adjuvants in the foreseeable future.

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Increasing Production of Generic Drugs Propelling Chlorobenzene Demand

The mushrooming use of chlorobenzene in the chemical industry is one of the major factors fueling its sales across the globe. Chlorobenzene is extensively used as a solvent in the synthesis of insecticide and pesticide formulations, organic chemicals, nitrobenzene, drugs, di-phenyl oxide, and di-isocyanate and for degreasing automobile components. With rapid industrialization and globalization, the requirement for chlorobenzene in several manufacturing and chemical processing facilities is surging. Thus, the expansion of the chemical industry is positively impacting the worldwide sales of chlorobenzene.

 The growing use of chlorobenzene in pharmaceutical and personal care industries is currently trending in the chlorobenzene market. Trichlorobenzene is being increasingly used in the pharmaceutical industry for synthesizing the intermediates of several medicines, including vitamin supplements and antibiotics. The United Nations Industrial Development Organization (UNIDO) has recently taken the responsibility to bolster the local manufacturing of essential generic drugs in both developed and developing nations. Additionally, research and development (R&D) activities for developing new drugs to manage and treat chronic diseases have grown massively over the last few years, which is also propelling the demand for chlorobenzene. 

This is credited to surging requirement for chlorobenzene in regional countries, such as China and Japan. Moreover, China is the largest producer of chlorobenzene in the world, on account of its requirement in the production of herbicides and polyphenylene sulphide resin. Additionally, Japan is witnessing a massive rise in the production of polyphenylene sulphide, on account of the surge in the country’s chemical industry, which is also driving the expansion of the market in the region. 

The players operating in the industry are actively focusing on collaborations in order to strengthen their position and reach out to more people. For example, CHEMADA Industries Ltd., which is a producer of fine chemicals for various industries, initiated a distribution agreement with Moriroku Holdings Company Ltd. (Moriruko Japan) in Japan. As per the terms and conditions of the agreement, Moriroku Japan gained the rights for the distribution of the products developed by CHEMADA Industries in Japan. 

Hence, it can be safely said that the demand for chlorobenzene will rise sharply in the coming years, mainly because of the expansion of chemical and pharmaceutical industries all over the world. 

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