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.

Read More

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. 

Read More

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.

Read More

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.

Read More

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.

Read More

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.

Read More

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.

Read More

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. 

Read More