Portable Ultrasound Devices Ruling the Roost, Why Is It So?

Before we understand about the portable version of ultrasound, let’s take a dive into the concept of ultrasound machines. Most of you must be familiar about what are ultrasound devices but let us discuss about them here in detail, for making the understanding clearer. When doctors or medical experts want to have a better look at what’s going on inside the patient’s body, they often use them for getting diagnostic imaging.

This imaging is done with the help of an ultrasound device. An ultrasound machine is also known as an ultrasonography machine, which takes pictures of internal organs from the topmost layer of the skin without any insertion with the help of high-frequency sound waves.  

A gel is applied on the skin in order to get the ultrasound waves transmitted from the transducer through the gel into the body. These images or scans are reflected on an attached computer screen. 

These images are used by medical experts for diagnosing problems with any tissue or the organ of the body. Ultrasounds are mostly performed for heart, stomach, liver, kidneys, uterus, unborn foetus, pancreas, etc. These images help the medical experts to understand the condition of any tissue or organ and make a more accurate diagnosis, on the basis of the same.

Portable Ultrasound Devices

As the name suggests, a portable ultrasound machine is a portable or smaller version of an ultrasound machine that almost has the same functions as the conventional device. However, these machines are not able to produce detailed imaging as the conventional counterpart, but they help in instant diagnosis. These mobile ultrasound systems could be carried here and there and work on batteries as well. 

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Benefits of Portable Ultrasound Devices

Instant Diagnoses: Portable ultrasound devices give accurate and instant diagnoses as they can be done at the bedside of the patient. Full-size ultrasound machines are not that easy to be moved or transported. On the other hand, portable ultrasounds can be moved from one place to other.

Affordability: Conventional ultrasound devices are bulky and expensive. Whereas, portable devices are not just handy but also affordable. This helps hospitals provide individual device to the doctors and other medical practitioners.

Emergency Usage: The queue in front of the ultrasound room could be life threatening in some cases, when the patient is critical. Portable ultrasound machines eliminate the transporting challenge for emergency patients by providing imaging at the patient’s location.

Why ultrasound is preferred over other types of imaging

No Ionizing Radiation: One of the foremost benefits of ultrasound imaging are that it works on ultrasonic sound waves for developing images. Ultrasound techniques do not use radiation. So, there are almost no adverse patient responses as opposed to radiation exposure.

Non-Invasive Procedure- Another major benefit of ultrasound is that it does not require invasive procedures. 

Ultrasound imaging makes use of high-frequency sound waves to produce images of the internals of the body. With no first-hand risks, the portable ultrasound devices not just benefit the patients but also the doctors. Owing to all these benefits associated with portable ultrasound devices, the demand for the same will reach to a value of above $3,488 million by 2030.

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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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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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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 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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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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Polypropylene Consumption To Increase in Food and Beverage Packing Sector

Polypropylene is being increasingly used in food and beverage packaging, due to the rising consumer awareness regarding health and wellness. This form of plastic is primarily used in the production of safe packaging materials and microwave containers. Additionally, this plastic is also used in the industrial packaging and building and construction industries, due to its high tensile strength. Thus, the increasing demand for safe and rigid sustainable packaging will create an extensive requirement for polypropylene in the coming years.

Besides, the flourishing nonwoven polypropylene fiber industry will also help the polypropylene market advance at a CAGR of 5.7% during 2020–2030. According to P&S Intelligence, the market was valued at $94.3 billion in 2020, and it will generate $165.6 billion revenue by 2030. Nonwoven polypropylene is used in the production of hygiene and medical products, such as toddler training pants, infant diapers, adult diapers, and feminine hygiene pads. In recent years, the demand for this plastic has exponentially increased in Asian countries, due to the rising public awareness regarding hygiene and the mounting disposable income of people.

In the preceding years, polypropylene was primarily used in injection molding applications due to the burgeoning demand for molded products, such as rigid containers. Polypropylene is used in the production of articles of different shapes and sizes through injection molding to develop recreational vehicle (RV) products, household goods, and marine and automotive parts. The burgeoning demand for such molded products will result in largescale consumption of polypropylene in injection molding applications in the upcoming years as well. Other application areas of this polymer are fiber, blow molding, raffia, and film and sheet.

Polypropylene manufactured by Reliance Industries Limited, INEOS Group Holdings S.A., PetroChina Company Limited, Formosa Plastic Corporation, Sinopec Group, Total S.A., Braskem S.A., Borealis AG, SABIC, Exxon Mobil Corporation, and LyondellBasell Industries B.V. is used by the automotive, consumer goods, construction, electrical, medical, and packaging industries. Presently, the packaging sector uses the highest volume of polypropylene, as it is ideal for several food packaging containers, such as thermoformed trays, injection-mold pots, and thermoformed pots, due to its ability to resist multiple chemical solvents.

Geographically, the Asia-Pacific (APAC) region accounted for the largest share in the polypropylene market in 2020, and it is expected to retain its dominance in the forecast years as well. This can be attributed to the surging government expenditure on research and development (R&D) of new polypropylene applications and the increasing consumption of flexible food packaging materials and electrical components in the region. Additionally, the presence of prominent players also contributes to the market growth in the region.  

Therefore, the escalating demand for hygienic and rigid packaging materials and the growing nonwoven polypropylene industry will facilitate the production of polypropylene globally. 

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What are Key Factors Responsible for Growth of Global Mechanical Energy Storage Market?

The increasing concern over the damage caused to the environment because of the large-scale usage of fossil fuels for power generation is one of the biggest factors contributing toward the development of mechanical energy storage systems all around the world. For instance, according to the International Energy Association (IEA), the world will need to increase the amount of stored energy from 176.5 GW in 2017 to 266 GW by 2030 for keeping global warming below 2 °C. 

The cost per kilo watt hour (kWh) of installation of mechanical energy storage systems is much lower as compared to the other types of energy storage systems. For example, the installation costs of compressed air energy storage (CAES) and pumped hydro storage (PHS) types of mechanical energy storage are $53/kWh and $21/kWh respectively, which are much lower than the other types of energy storage, which are usually between $100–$1000/kWh. Driven by these factors, the global mechanical energy storage market is predicted to demonstrate considerable growth over the coming years.

The most commonly adopted types of mechanical energy storage technology are compressed air energy storage (CAES), flywheel energy storage (FES), and pumped hydro storage (PHS). Out of these, the adoption of PHS type of mechanical energy storage is currently observed to be the highest throughout the world. For instance, according to the World Energy Council, over 95% of the global energy storage is currently met by the PHS technology. Moreover, this technology has been providing cost-effective large-scale energy storage solutions and supporting grid balancing services over the last few years.

A major trend currently being witnessed in the mechanical energy storage market is the application of energy storage solutions and various associated grid technologies in the utilities sector. Many utility asset companies and owners are increasingly adopting energy storage solutions in order to meet the high demand for energy during the peak hours and also for providing back-up power. According to a report published by the World Energy Council in January 2016, a sharp decline is expected to be observed in the costs of most of the energy storage technologies during the 2015–2030 period.

Globally, the Asia-Pacific (APAC) region is currently observing substantial usage of mechanical energy storage systems. This is attributed to the soaring investments being made by the governments of various APAC countries such as India and China in energy storage solutions. For example, as per the India Energy Storage Alliance (IESA), the total value of energy storage will increase to more than 300 GWh by 2025. North America is also expected to observe major growth in the adoption of energy storage technologies in the coming years, mainly on account of the burgeoning requirement of electricity storage systems in the region. 

Hence, it may safely be said that the adoption of mechanical energy storage technology will surge across the world in the years ahead, because of the increasing need for energy storage in order to curtail the global warming and rising pollution levels caused by the large-scale utilization of fossil fuels for power generation and the low costs of installation of the mechanical energy storage systems.

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Why Is Aerospace Sector Increasingly Using Ceramic Matrix Composites?

From $1,891.3 million in 2015, the ceramic matrix composites market size is projected to witness a 13.7% CAGR during forecast period, to reach $6,006.1 million by 2024. The key factors driving product sales include the rising usage of lightweight composites in aircraft manufacturing and surging demand for CMCs in the defense sector. These materials consist of a ceramic matrix with ceramic fibers embedded in it. Their biggest advantages are high-temperature functionality, resistance to wear and tear, high stiffness, and corrosion resistance.

The application segment is categorized into aerospace, defense, electrical & electronics, energy & power, and others. The aerospace category generated the highest revenue and registered the highest sales volume in 2015. This is attributed to CMCs’ high importance for the fans of jet engines and blades of helicopter rotors. The market is set to grow the most rapidly in the energy & power category during the forecast period because of the surging usage of CMCs in the manufacturing of the blades of gas and wind turbines and a few other components.

Lightweight vehicles are trending in the ceramic matrix composites market because of the global outcry for mitigating pollution and climate change. According to the U.S. Department of Energy, a reduction in the weight of a vehicle by 10% can raise its fuel efficiency by 8%. Moreover, the replacement of steel and iron automobile components with those made of aluminum alloys, polymer composites, magnesium alloys, and carbon fiber can lead to a massive 50% reduction in the vehicle weight and, in turn, in considerable fuel savings.

However, the biggest driver for the growth of the ceramic matrix composites market presently is the rising usage of these materials in the aerospace sector. With the booming air travel activities, both internationally and domestically, aircraft sales are burgeoning around the world. This is credited to the dramatic rise being witnessed in the number of business travelers and holidaymakers. As a result, the demand for CMCs for the production of high-speed machine parts, helicopter rotor blade sleeves, power transmission lines, and jet engine fans is increasing.

Presently, North America dominates the ceramic matrix composites market because it is the largest aerospace and defense producer in the world. Moreover, the U.S. is also the largest buyer of defense equipment and one of the largest buyers of commercial aircraft for public and personal usage. As of May 2019, the largest airlines in the world by fleet size were American Airlines, United Airlines, Delta Air Lines, FedEx Express, and Southwest Airlines, all based in the U.S. Similarly, with over 13,00 aircraft of all types, the U.S. Air Force (USAF) is the largest on earth.

Hence, with the burgeoning aerospace, defense, and automotive production, the market will reach new heights.

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Why Is North America Largest Consumer of 3D Printing Materials?

It is the continuous evolution in the science of using one object or material to create another that has helped the human species survive for so long. In other words, a solid manufacturing base is the key to modern comforts and a strong economy. Thus, with human needs changing over time, the manufacturing technology is also evolving. The biggest current revolution in this space is 3D printing, wherein a printer, much like the ones seen integrated to a common computer, adds material, such as metals, plastics, and ceramics, layer by layer, to create the final product.

Since this process saves manufacturing time and wastage and offers a wider margin for customization, the 3D printing materials market, as studied by P&S Intelligence, will likely grow from $558.4 million in 2017 to $1,365.6 million by 2023, at a 16.7% CAGR between 2018 and 2023. The material is usually fed to the printer in the form of a powder, filament, or liquid, which the printer extrudes only in the desired amount. In conventional manufacturing, a sheet of metal is first cut, and then the scraps are gathered and remelted to form another sheet. Thus, 3D printing not only reduces waste, but also quickens up production.

Due to such innovations in the manufacturing sector, North America is the largest 3D printing materials market till now. The advanced industrial and technological infrastructure of the continent allows regional companies to use additive manufacturing on a large scale. Moreover, the U.S. is home to some of the biggest aerospace and defense companies in the world, including Boeing, Lockheed Martin, GE Aviation, Bell Textron, General Dynamics, NASA, and Northrop Grumman. Further, another key North American sector where additive manufacturing is becoming popular is medical devices and implants.

Moreover, in the coming years, the demand for 3D printing materials will grow the fastest in Asia-Pacific (APAC) as this technology penetrates deeper into the electrical and electronics and automotive industries, both of which APAC is known for. Further, with government programs such as Made in China 2025, Make in India, and Making Indonesia 4.0, the focus on advanced factory technologies is increasing, which is resulting in the surging usage of additive manufacturing.

Hence, as the adoption of 3D printing grows, so will that of the various materials used for the purpose.

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Cartilage Repair Market Trends, Business Strategies and Opportunities with Key Players Analysis 2024

The global cartilage repair market is witnessing considerable growth due to increasing geriatric population, increasing obesity, increasing healthcare expenditure, and growing sports related injuries. Moreover, increase in innovative product launches and growth of medical tourism leading to awareness about the cartilage treatment modalities across the globe is supporting the growth of the market. Based on the treatment modalities, cell-based approaches segment is expected to grow at the fastest rate during the forecast period, due to long term results of this treatment.

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The rapid growth in emerging economies and technological advancement in cartilage repair and regeneration products is expected to create opportunities for the manufacturers of cartilage repair products across the globe. However, the high cost of these products and lack of reimbursement for these treatments are the key factors hampering the growth of the global market.

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Obesity is a serious health concern in the U.S. The increasing prevalence of obesity is driving the growth of the cartilage repair market in the U.S. According to CDC, during 2011-2012, 35.1% of adult aged 20 years or above were obese. In addition, as published by the Organization for Economic Cooperation and Development (OECD) in the year 2014, the obesity rate in Germany increased from 11.5% in 1999 to 14.7% in 2009. This increase in obesity rate leads to increase in demand for liposuction procedures, which is further accelerating the market growth.

The key players operating in the global cartilage repair market are Zimmer Biomet Holdings, Inc., Johnson & Johnson, Vericel Corporation, Smith & Nephew PLC, Osiris Therapeutics, Inc., RTI Surgical, Conmed Linvatec, B. Braun Melsungen AG, Anika Therapeutics S. R. L.  and Arthrex, Inc.

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Rising Number of Surgical Procedure Supporting Fibrin Glue Growth

The fibrin glue market is projected to grow during the forecast period (2017–2023) at a CAGR of 10.9% owing to the surging number of burn cases and surgical procedures and increasing healthcare expenditure. In addition, the growing prevalence of chronic diseases, increasing geriatric population, and rising road accidents are supporting to market advance. Fibrin glue is a kind of tissue adhesive extracted from a human or animal source, which is primarily used for healing wounds, coagulating the blood, tackling hemorrhage, and sealing tissues.

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Geographically, during 2013–2016, North America led the fibrin glue market, with the U.S. being the larger contributor compared to Canada. The increasing prevalence of cardiovascular diseases is a prime reason behind the growth of the North American market for cardiac surgery. In addition, the rising number of surgical procedures, mainly plastic surgery, in the region, surging aging population, high expenditure on healthcare, and significant number of burn cases and road accidents are boosting the use of fibrin glue.

As per the American Heart Association, in the U.S., nearly 85.6 million people are suffering from cardiovascular diseases. Further, the growing healthcare spending is being witnessed as the key factor driving the growth of the fibrin glue market. The healthcare expenditure includes the public and private spending on medical goods and services, public health and prevention programs, and administration. As per the Centers for Disease Control and Prevention (CDC), in the U.S., in 2014, the total health expenditure was $3.0 trillion and the per capita national health expenditure was $9,523.

European fibrin glue market is the second largest in the world

Europe is the second largest market for fibrin glue products, accounting for 24.4% of the global fibrin glue industry in 2016. The growth in the European fibrin glue market is mainly attributable to the increasing aging population and rising number of surgical procedures performed for the treatment of the circulatory system diseases in the region. Among the countries in Europe, Germany held the largest share of the European market for fibrin glue, contributing 26.2% in 2016. However, the market in France is expected to witness the highest growth during the forecast period. France was also the second largest market for fibrin glue products in 2016 in Europe, accounting for a 14.6% share, which is expected to increase to 15.5% by 2023, growing at a CAGR of 10.7% during the forecast period. The U.K. is the third largest market in Europe and is also expected to witness double digit growth during the forecast period.

Competitive Analysis

Vivostat A/S, Kaketsuken, Johnson & Johnson, Baxter International Inc., CSL Behring, Zimmer Biomet Holdings, Inc., Takeda Pharmaceutical Company Limited, Mallinckrodt Plc, Shanghai RAAS Blood Products Co. Ltd. and Hualan Biological Engineering Inc are Some of the key players operating in the global fibrin glue market.

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