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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