Electronic waste or E-waste is referred to all the consumer electronic equipment that has served its purpose. This may contain materials like circuit boards or chips. Additionally, TV, computers, keyboards, kitchen appliances, lab electronic equipment, and broken CRTs fall under this category.
Electronic waste management is necessary as the e-waste contain heavy metals such as cadmium, lead, copper, and chromium that may cause contamination to the environment. Hence, there is a requirement for e-waste management, propelling the market growth. The market is further projected to grow at a significant pace due to the growing consumption of consumer electronics. The Asia Pacific region is projected to account for holding a substantial market share in the global consumer electronics industry, particularly, in the emerging economies of China and India. This is supported by the growing adoption of mobile devices like smartphones, tablets and iPads, further raising strong demand for electronic waste (e-waste) management, contributing to fueling the growth of the electronic waste management market.
Additionally, owing to the affordability of these devices, consumers are keenly interested in trying new brands with novel and innovative features. In addition, the introduction of advanced technologies like 4G and 5G are contributing to faster communication, further providing an impetus in surging the growth prospects of sale of these mobile devices. As per the United Nations, ITU agency, by the end of 2017, it was estimated that the mobile-based subscriptions will reach a figure of 4.3 billion at the global level. In the least developing countries (LDC), the highest growth-rate of mobile broadband subscriptions was recorded between 2012 and 2017. However, mobile subscriptions per 100 inhabitants in LDCs were accounted to remain the lowest, i.e. around 23%.
Source: The United Nations ITU Agency, mobile subscriptions in least developed countries between 2012-2017
Additionally, with the growing global internet penetration rate, the adoption of mobile devices will continue to soar, propagating the market demand. As per the United Nations prediction, the internet-user gender gap has tapered in most of the regions of the world since 2013. However, it was noticed that the internet penetration is still slightly higher in men than women. The internet penetration rate worldwide for men accounted for around 50% share, while for women, it accounted for holding a share of around 44% in 2017. On the other hand, in the Americas region, it was noticed that the proportion of women utilizing internet was higher than men.
Source: The United Nations, global internet penetration rate, by gender, 2017
With new technologies emerging in the market such as smart speakers like Amazon Echo and Google Home, the market is projected to augment. Also, the advent of home automation is further offering an opportunity for the electronic waste management market growth with the adoption of smart home monitoring and security systems. These systems consist of carbon monoxide detectors, smart switches, and smart locks and doorbells among others. The growing trend of energy efficiency and IoT implementation will continue to propel the growth of smart homes, further contributing to surging the market growth. For instance, in order to increase the energy efficiency of a house, blinds are capable of closing automatically by connecting to the home’s tech ecosystem. This will enable the blinds to open and close as per the incoming weather information and the internal temperature. Thus, smart homes offer convenience to residents, this is due to the fact that with connected devices, residents are capable of handling more operations such as lighting and temperature, and hence, this sets a resident free for performing other tasks. Also, with the help of internet, a person is capable of controlling an electrical appliance or appliances in a virtual manner through a web browser. With smart home technologies gaining momentum at present and in the coming years, a huge potential for the market to thrive is being realized.
The current covid-19 scenario has impacted the market growth severely owing to causing an adverse impact on the consumer electronics industry, which is the soul of the e-waste management market. The rapid outbreak of the virus globally has led to delay in the launch of novel electronic devices due to the shut down of the manufacturing operations worldwide. This outbreak brought in a severe crisis in the major economies of the world that include China, the United States, India, Italy, the United Kingdom, Japan, and many other countries. Majority of these nations followed preventive measures like national lockdown, social distancing, work-from-home and self-quarantine initiatives. In many parts of the world, the government advised people and companies to implement work-from-home. This further led to travel restrictions, closure of local businesses and prohibited public gatherings. Due to the spread of novel coronavirus, the manufacturers of electronic products have ceased the further production of novel electronic goods, thus, causing an impact on the market growth as well. This is further going to impact the upcoming production of the new electronic devices, further causing an impact on the business opportunities in electronics manufacturing as vendors are moving to the adoption of remote working. Also, with the closure of brick and mortar retail channels, like supermarkets, and showrooms, the sales of electronic items have affected in an adverse manner.
In order to combat this situation, companies are taking certain initiatives like relocation of the factories for a definite period of time. For example, Samsung, in March 2020, made an announcement regarding the shifting of its smartphone production to Vietnam from the South Korean region as the company’s staff tested positive for coronavirus, leading to temporary closure the factory in Gumi.
Furthermore, with the growing technological advancements, like the wireless earbuds, smartwatches, and other wearables, and drones, the market is projected to fuel in the coming years. The major reason lies in the fact that the consumers are increasingly evolving, in terms of knowledge, income, and their way of performing different tasks that involve the utilization of electronic machines or gadgets. This has further resulted in bringing connectivity in their everyday lives and is providing huge opportunities for the manufacturers to introduce advanced technologies such as artificial intelligence in varied electronic products for smart performance of their e-products. In addition, with continuous improvements in the existing technologies as per the consumers’ demands, the market is poised to grow at an unprecedented rate in the coming years. These devices will require efficient waste management practices providing a minimum impact on the environment.
ABOUT THE AUTHOR:
Vibha Saklani is a Market Research Analyst at KSI, working on the estimates and global reports on multiple industries spanning from IoT to food and beverages, with a special knack for healthcare, medical devices, and related markets. With the addition of her formal education in Biotechnology and having a research background, she is able to shed more light on the detailed analysis of the story. To read more articles by her, and for more information regarding multiple global markets, visit https://www.knowledge-sourcing.com.
Nev Taxi Market- When Shared Mobility Meets Sustainable Development
Thought ArticlesWith the rapid development of the automobile industry, the development of new energy vehicles (NEVs) has become a prime focus of auto manufacturers as energy crisis and environmental pollution have become prominent evils in social development. On the other hand, advancement in technologies such as energy, IoT (Internet of Things), and electronics and their deep integration with automobile manufacturing has further boosted the development of highly efficient and environmental-friendly new energy vehicles (NEVs). Although in the short and medium term, plug-in hybrid and hybrid electric vehicles are going to enjoy the growing market share of electric vehicles in the global automotive industry, the pure electric drive technology including battery and fuel cell will be the ideal technology in the long-term, providing direction for the future of new energy vehicles. NEVs (new energy vehicles) are vehicle which are partially or fully powered by electricity. New energy vehicles can be broadly classified into four categories: pure electric vehicles (battery electric vehicles), hybrid vehicles, fuel cell vehicles and solar electric vehicles. The below figure depicts the market size of global NEV taxi market for the year 2019 and 2025:
New Energy Vehicle (Nev) Taxi Market Size, Us$ Billion, 2019 and 2025
Source: Knowledge Sourcing Intelligence Analysis
Faced with increasingly serious energy and environmental problems, many developed as well as developing countries or regions have begun to seek industrial transformation by way of reducing the production of fuel vehicles with an agenda of new energy vehicles phasing out the conventional energy vehicles. For this, countries have implemented several policies and initiatives to ramp up the adoption of new energy vehicles. For instance, the United States encourages people to buy new energy vehicles through the establishment of supporting facilities such as charging stations, electricity fee reduction and the provision of driving and parking facilities for people owning NEVs. Germany, as the well-established powerhouse in the global automobile industry, has also announced that it will ban the sale of conventional internal combustion engine vehicles from 2030 or so. France has also plans to ban all sales of fuel cars by 2040 as a part of its agenda to achieve carbon balance by 2050 and become a carbon-neutral country.
However, the major driver of the global NEV taxi market is the implementation of policies and measures in China which has attached a great importance to the development of new energy vehicles (NEVs) as a national strategy. The country’s Ministry of Industry and Information Technology (MIIT) finalized the New Energy Vehicle (NEV) mandate policy on September 27, 2017. This policy is a modified version of California’s Zero Emission Vehicle (ZEV) mandate, aiming at the promotion of new energy vehicles (NEVs) while providing additional compliance flexibility to the existing fuel consumption regulation. This policy applies only to passenger cars and formally took effect on April 1, 2018. China has now become the largest market for new energy vehicles (NEVs), accounting for 50.40 per cent of the global NEV volume sold in 2017, followed by the United States with a share of 17.3 per cent, according to the statistics provided by the Internal Energy Agency and Huajin Securities Research Institute.
New Energy Vehicle (Nev) Sales Volume in China, in Million Units, 2011-2017
Source: Electric Vehicle (EV) sales and the China Passenger Car Association (CPCA)
One of China's major cities, Shenzhen reached an environmental milestone, with 99 per cent of the 21,689 taxi fleet being entirely electric-powered in 2018. These electric taxis are equipped with an on-board terminal which shows where taxis are in short supply, such as the airport, train station or any other location. It also clearly displays the fare as well as the route, which help prevent drivers from overcharging or taking a round-about route. According to the city’s transport committee, Shenzhen's 20,000-plus electric taxis are projected to reduce carbon emissions by about 850,000 tons a year. The high-tech hub southern China still had 7,500 gasoline-powered taxis on the road during the same year although electric ones far outnumbered them. The northern China city of Taiyuan was the only city in the country which had electric taxis since 2016. Shenzhen is one of the pilot cities promoting alternative and sustainable-energy public transport in order to reduce smog. While Beijing and other cities in China are served by massive fleet of electric scooters, bicycles and three-wheeled delivery vehicles that help reduce emissions, Shenzhen’s bus-fleet has been all-electric since 2017. The city also invested heavily on the expansion of network of about 20,000 public charging stations to support the use of NEV taxi fleet since the lack of charging station infrastructure is the major hurdle in the growing adoption of NEVs across different regions and countries.
With the rapid rise in the adoption of new energy vehicles, the development of various ancillary supporting facilities is still the key challenge to the NEV market. Infrastructure construction is a necessary prerequisite for the large-scale application of new energy vehicles across the globe. That is, further rise in sales of NEVs does require heavy investment in the charging station infrastructure for the large-scale operation of new energy vehicles (NEVs). This not only requires huge capital investment but also large areas of land within the heavily-congested urban structure which is another great challenge in itself, thus acting as a constraint for the NEV taxi market growth.
To sum up, with the global standards of vehicle emissions becoming more and more stringent, the development of new energy vehicles is also becoming more and more important around the world. However, many technologies still need to be incorporated and many practical factors that are still hindering the growth of NEV market still need to be tackled in order to realize the all-round adoption of NEVs in the near future.
ABOUT THE AUTHOR:
Anjali Joshi is a senior market research analyst at Knowledge Sourcing Intelligence. She oversees a team of analysts and is known for the quality of market intelligence she delivers to the clients which range from start-ups and Non-profit Organizations to Fortune 500 companies. Anjali’s keen understanding of international business and market dynamics, coupled with her years of experience working in this industry, allows her to analyse current and future trends across both global and clients’ target markets and help them in making informed decisions.
Electronic Waste Management Market: Set to Increase the Pace With Rising Consumer Electronics’ Consumption
Thought ArticlesElectronic waste or E-waste is referred to all the consumer electronic equipment that has served its purpose. This may contain materials like circuit boards or chips. Additionally, TV, computers, keyboards, kitchen appliances, lab electronic equipment, and broken CRTs fall under this category.
Electronic waste management is necessary as the e-waste contain heavy metals such as cadmium, lead, copper, and chromium that may cause contamination to the environment. Hence, there is a requirement for e-waste management, propelling the market growth. The market is further projected to grow at a significant pace due to the growing consumption of consumer electronics. The Asia Pacific region is projected to account for holding a substantial market share in the global consumer electronics industry, particularly, in the emerging economies of China and India. This is supported by the growing adoption of mobile devices like smartphones, tablets and iPads, further raising strong demand for electronic waste (e-waste) management, contributing to fueling the growth of the electronic waste management market.
Additionally, owing to the affordability of these devices, consumers are keenly interested in trying new brands with novel and innovative features. In addition, the introduction of advanced technologies like 4G and 5G are contributing to faster communication, further providing an impetus in surging the growth prospects of sale of these mobile devices. As per the United Nations, ITU agency, by the end of 2017, it was estimated that the mobile-based subscriptions will reach a figure of 4.3 billion at the global level. In the least developing countries (LDC), the highest growth-rate of mobile broadband subscriptions was recorded between 2012 and 2017. However, mobile subscriptions per 100 inhabitants in LDCs were accounted to remain the lowest, i.e. around 23%.
Source: The United Nations ITU Agency, mobile subscriptions in least developed countries between 2012-2017
Additionally, with the growing global internet penetration rate, the adoption of mobile devices will continue to soar, propagating the market demand. As per the United Nations prediction, the internet-user gender gap has tapered in most of the regions of the world since 2013. However, it was noticed that the internet penetration is still slightly higher in men than women. The internet penetration rate worldwide for men accounted for around 50% share, while for women, it accounted for holding a share of around 44% in 2017. On the other hand, in the Americas region, it was noticed that the proportion of women utilizing internet was higher than men.
Source: The United Nations, global internet penetration rate, by gender, 2017
With new technologies emerging in the market such as smart speakers like Amazon Echo and Google Home, the market is projected to augment. Also, the advent of home automation is further offering an opportunity for the electronic waste management market growth with the adoption of smart home monitoring and security systems. These systems consist of carbon monoxide detectors, smart switches, and smart locks and doorbells among others. The growing trend of energy efficiency and IoT implementation will continue to propel the growth of smart homes, further contributing to surging the market growth. For instance, in order to increase the energy efficiency of a house, blinds are capable of closing automatically by connecting to the home’s tech ecosystem. This will enable the blinds to open and close as per the incoming weather information and the internal temperature. Thus, smart homes offer convenience to residents, this is due to the fact that with connected devices, residents are capable of handling more operations such as lighting and temperature, and hence, this sets a resident free for performing other tasks. Also, with the help of internet, a person is capable of controlling an electrical appliance or appliances in a virtual manner through a web browser. With smart home technologies gaining momentum at present and in the coming years, a huge potential for the market to thrive is being realized.
The current covid-19 scenario has impacted the market growth severely owing to causing an adverse impact on the consumer electronics industry, which is the soul of the e-waste management market. The rapid outbreak of the virus globally has led to delay in the launch of novel electronic devices due to the shut down of the manufacturing operations worldwide. This outbreak brought in a severe crisis in the major economies of the world that include China, the United States, India, Italy, the United Kingdom, Japan, and many other countries. Majority of these nations followed preventive measures like national lockdown, social distancing, work-from-home and self-quarantine initiatives. In many parts of the world, the government advised people and companies to implement work-from-home. This further led to travel restrictions, closure of local businesses and prohibited public gatherings. Due to the spread of novel coronavirus, the manufacturers of electronic products have ceased the further production of novel electronic goods, thus, causing an impact on the market growth as well. This is further going to impact the upcoming production of the new electronic devices, further causing an impact on the business opportunities in electronics manufacturing as vendors are moving to the adoption of remote working. Also, with the closure of brick and mortar retail channels, like supermarkets, and showrooms, the sales of electronic items have affected in an adverse manner.
In order to combat this situation, companies are taking certain initiatives like relocation of the factories for a definite period of time. For example, Samsung, in March 2020, made an announcement regarding the shifting of its smartphone production to Vietnam from the South Korean region as the company’s staff tested positive for coronavirus, leading to temporary closure the factory in Gumi.
Furthermore, with the growing technological advancements, like the wireless earbuds, smartwatches, and other wearables, and drones, the market is projected to fuel in the coming years. The major reason lies in the fact that the consumers are increasingly evolving, in terms of knowledge, income, and their way of performing different tasks that involve the utilization of electronic machines or gadgets. This has further resulted in bringing connectivity in their everyday lives and is providing huge opportunities for the manufacturers to introduce advanced technologies such as artificial intelligence in varied electronic products for smart performance of their e-products. In addition, with continuous improvements in the existing technologies as per the consumers’ demands, the market is poised to grow at an unprecedented rate in the coming years. These devices will require efficient waste management practices providing a minimum impact on the environment.
ABOUT THE AUTHOR:
Vibha Saklani is a Market Research Analyst at KSI, working on the estimates and global reports on multiple industries spanning from IoT to food and beverages, with a special knack for healthcare, medical devices, and related markets. With the addition of her formal education in Biotechnology and having a research background, she is able to shed more light on the detailed analysis of the story. To read more articles by her, and for more information regarding multiple global markets, visit https://www.knowledge-sourcing.com.
Engine Oil – The Most Essential Lubricant for Automobiles
Thought ArticlesEngine oil is the most essential lubricant that is used in a vehicle this oil is used to lubricate the internal combustion engine as it prevents wear and tear by lubricating the internal parts of the engine and allowing them to run smoothly by cleaning the sludge of the engine.
The market for automotive engine oils is poised to witness a nominal growth over the course of the next five years. The key factor supplementing the growth includes the increasing concerns of the vehicle owners towards the faster deterioration of engine components due to wear and tear. The rising adoption of enhanced quality lubricants is bolstering market growth until the end of the forecast period. The constantly increasing disposable income and the rapid urbanization in the various developing economies around the globe have led to an increase in the sales of automobiles, which is further providing an impetus for the market to grow in the near future. Also, the growing use of synthetic products is also propelling the business opportunities for the manufacturers to expand their market share during the forecast period.
Furthermore, the rising requirements to meet stringent regulations regarding vehicle emissions and safety are also projected to expand the automotive engine oil market during the coming years. The graph below represents the market size of automotive engine oil that shows the market reached US$12.866 billion by 2025 from US$9.931 billion in the year 2019. However, the volatility in the prices of oil and petroleum is projected to restrain the market growth to a certain extent.
Global Automotive Intercooler Market, Forecasts From 2019-2025, in US$ Billion
Source: Knowledge Sourcing Intelligence Estimates
Rising Automobile Sales
One of the key factors augmenting the market growth includes the constantly increasing sales of automobiles around the globe. The rapid urbanization, growing disposable income, and the growing middle-class population are the major factors that have led to an increased standard of living especially for those people who live in developing economies such as Brazil, India, and China among others. Since automotive engine oil is an important part of the maintenance and smooth functioning of the engines, the rise in the automotive vehicle sales is projected to positively drive the automotive lubricants market in the coming years.
Total Automotive Sales, 2010 to 2017, in Million Units
Source: International Organization of Motor Vehicle Manufacturers
The graph above represents the total sale of automotive units from 2010 to 2019. It states that the total automotive sales reached 91 million units by the year 2019 from 75 million units in the year 2010 (Source: OICA). In addition to this, there is a constant rise in the demand for commercial vehicles for both passenger and goods transport which is further fueling the demand for automotive vehicles globally. Moreover, the rising import and export activities combined with the budding e-commerce sector have also contributed positively to the growing vehicle sales, in turn budding the automotive engine oil market during the forecast period.
Recent COVID-19 Outbreak
The recent COVID-19 outbreak is anticipated to show a slight downfall in the demand for automotive engine oils due to the declining sale of automobiles as well as a decline in the production of automobiles. The recent advent of COVID has led to a temporary halt in the manufacturing activities across several industries as the government regulations such as social distancing and lockdowns have led to a decline in the production activities in various industries. Also, the disruption of the economic growth in various countries has led to a slight decline in the sales of vehicles as well. Thus, the advent of COVID-19 is expected to moderately impact the market growth especially during the short period of the next six to eight months. Also, the suspension of vehicle sports events and adventure sports due to the outbreak of novel coronavirus disease is also expected to negatively impact the demand for performance engine oils, thereby hampering the global automotive engine oil market growth during the short run.
Participation of Key Market Players
The participation by the key market players in the form of R&D for product portfolio expansions, partnerships, mergers, and acquisitions play a major role in shaping up the market growth as it further shows the potential for the market to grow in the near future. For instance, in July 2019, IndanOil announced the launch of a new range of high-performance lubricant products, SERVO SuperMile Plus and SERVO SuperMile for the new generation cars. Also, in June 2018, Shell plc and Maserati announced their collaboration for the induction of a brand new co-branded motor oil known as Shell Helix Ultra Maserati 10W-60, this will be considered as the only oil recommended on all the Maserati’s 2018 models that will be equipped with the V6 gasoline engines.
Segment Overview:
The global automotive engine oil market has been segmented on the basis of type, engine type, vehicle type, sales channel, and geography. By type, the market has been segmented as synthetic oil, synthetic blend oil, and conventional oil. By engine type, the market has been classified into petrol and diesel. By vehicle type, the market has been segmented on the basis of passenger vehicle and commercial vehicle. By the sales channel, the segmentation of the market has been done as online and offline. Geographically, the market has been distributed into North America, South America, Europe, Middle East and Africa, and Asia Pacific.
The Asia Pacific to Hold a Decent Market Share
Geographically, the Asia Pacific region is anticipated to hold a substantial share in the market throughout the forecast period due to the growing demand for passenger vehicles in major developing countries such as India, China, and Indonesia among others. The rapid urbanization, growing middle-class population are some of the factors bolstering the high demand for vehicles in the APAC region, thereby supplementing the automotive engine oils market growth during the next five years. Also, the stringent government regulations regarding vehicular emissions is also a major factor playing a significant role in shaping up the market growth in the APAC region over the course of the next five years.
Online Clothing Rental Market – Why Buy When You Can Rent
BlogMillennials are not interested in buying anything, be it property, entertainment, or even expensive clothes. According to the Institute of Fiscal Studies, renting figures have trebled since the 1990s. We are living in an age of virtual libraries where we stream music and films online, without needing to own any of them. People are using the same concept when it comes to their wardrobe. This ‘generation rent’ does not want to spend money on high-end global brand clothes which, in the era of social media, get ‘old’ and ‘non-reusable’ just with a click of one photo. Gone are those days when renting clothes and jewellery was only reserved for the rich and famous for a shoot or any red carpet event. There are plenty of rental fashion sites that are offering premium branded clothing line on rent for a fraction of the retail price. As people are socializing more often, they are preferring to ‘hire’ fine-quality branded dresses instead of paying the retail price for just one-time use.
Growing popularity of online shopping portals, supported by rising internet penetration and proliferation of smartphones is the prime reason of booming online clothing rental market. The advancement in technologies such as artificial intelligence (AI) has further driven the demand for online shopping by making the process even more convenient for people. Growing middle class population in developing economies is further contributing to the market growth of online clothing rental.
Global Internet Penetration, Percentage of Population, 2012 to 2017
Source: The World Bank Group
Rising use of social media platforms such as Twitter, Facebook, Snapchat, and Instagram has surged the demand for rented clothes, especially among women. Rapidly emerging popularity of fashion vlogs across these social media platforms is also contributing to the market growth of online rental clothing globally. Increasing number of red carpet events, both across movie and television industry, is further augmenting the demand for clothes on rent for short duration, and thereby positively impacting the market growth of online clothing rental.
Global Online Clothing Rental Market Size, US$ Billion, 2019 and 2025
Source: Knowledge Sourcing Intelligence Analysis
Another reason for emerging popularity of using rented clothes instead of buying new ones is the rising awareness regarding environmental sustainability. Clothing companies are encouraging people not to throw away their used clothes and re-use them as ‘fashion pollution’ is having detrimental effects on the environment. Clothing generates its own carbon and water footprint, with the fashion industry’s CO2 emissions expected to rise to more than 2.5 billion tonnes per year by 2030. According to the figures from the United Nations Environment Programme (UNEP), it takes 3,781 litres of water to make one pair of jeans from the production of the cotton to the delivery of the final product to the store. This is equal to the emission of nearly 33.4 kilograms of carbon equivalent. As a result, consumers as well as companies are bringing up the concept of not buying something new and expensive while diminishing the environmental footprint. With the rise of online clothing rental platforms, the reduction in the amount of new clothes in circulation will eventually help to maintain the environmental sustainability. The idea of minimalism and the option of renting clothes also offers people more opportunities to be creative and constantly changing their fashion style without even buying more expensive clothes.
Growing number of fashion-conscious individuals who lack finances to purchase clothes of their choice which are expensive are anticipated to make use of online clothing rental platforms to the fullest since renting a dress is always cost-efficient, especially in today’s world when the trend keeps changing with a blink and people do not want themselves to be seen wearing the same outfit on different occasions. As a result, the global online clothing rental market will continue to boom during the forecast period.
Rapidly growing e-commerce sector, especially in the Asia Pacific region is expected to propel the market growth during the next five years. Consumers in countries like India and China are increasingly opting for rented clothes including runway-ready outfits and haute couture fashion for various events and occasions. With social media playing a crucial role in the success and failure of brands, fashion rental startups are attracting primarily millennials who are aware of the latest trends and the best designers. Rentals help consumers save money, time and the headache of storage and maintenance of a huge pile of clothes.
Companies in online clothing rental industry are constantly trying to provide clothes on rent both accessible and affordable and are launching new clothing rental platforms in order to make a strong position in this emerging industry. In 2019, for instance, etailer My-Wardrobe.com launched a website called MyWardrobe HQ where users can buy and rent clothing and accessories. Rental costs are agreed between the renter and the owner or brand. In 2018, the country’s largest, the first and only official online rental platform for designer outfits as launched- BChu Runway-offering outfits from over 150 world-class brands. In the United States, a healthy clothing rental economy has also emerged with brands like Gwynnie Bee and Le Tote offering clothes on rent. Canada is also a home to various online rental companies including Atelier Privé, Rent Frock Repeat, and dresst.
The future of fashion is expected to move beyond traditional model with a keen focus on accessibility, affordability, and environmental sustainability. With more and more efforts are being put across various industries in saving the planet, the market for online rental clothing will continue to thrive during the forecast period.
ABOUT THE AUTHOR:
Anjali Joshi is a senior market research analyst at Knowledge Sourcing Intelligence. She oversees a team of analysts and is known for the quality of market intelligence she delivers to the clients which range from start-ups and Non-profit Organizations to Fortune 500 companies. Anjali’s keen understanding of international business and market dynamics, coupled with her years of experience working in this industry, allows her to analyse current and future trends across both global and clients’ target markets and help them in making informed decisions.
The Rising Popularity of Nev Taxis
BlogNEV refers to the new energy vehicles that are either fully or partially powered by electric power such as Battery Electric Vehicles (BEVs) or Plug-in Hybrids (PHEVs). These taxis further have low running and maintenance costs and cause less or no harm to the environment. These are some of the key factors that are augmenting the adoption of new energy vehicles as taxis in various countries.
Global Nev Taxi Market, Forecasts From 2019 to 2025, in US$ Billion
Source: Knowledge Sourcing Estimates
The graph mentioned above represents the market size of the global NEV taxi market which shows that the market is poised to witness a strong growth throughout the forecast period by reaching US$55.558 billion by the year 2025 from US$11.674 billion. The major factors that are anticipated to augment the market growth for NEV taxi include the several initiatives taken by the government of both developed and developing economies regarding the protection of the environment. The booming adoption of electric vehicles as a sustainable mode of commuting is also a key factor that plays a significant role in shaping up the growth of the global NEV taxi market throughout the course of the next five years. Furthermore, the rapid penetration of new market players in the electric vehicle industry with an aim to expand their market share and gain a competitive edge over other players also shows the potential for the market to grow in the near future.
The market is also expected to grow on account of several government initiatives in the developing economies to promote the use of NEVs as taxis as public transport is considered to be a major contributor to carbon emissions. For instance, the Indian Government announced its plans in 2019 in which it is expected that the government may mandate the deployment of around 40% of electric feet by the various taxi providing companies throughout the country. Also, increased funding in the country received by taxi providers for the promotion of the electric fleet also shows the potential for the market to grow in the near future. For instance, in March 2019, Ola announced its spin-off Electric Business as a separate business unit and received funding worth US$56 million from Tiger Global and Matrix India.
Segment Overview:
The global NEV taxi market has been segmented on the basis of vehicle type and geography. By the vehicle type, the market has been segmented on the basis of Battery Electric Vehicle (BEV), Plug-in Hybrid Electric Vehicle (PHEV), and Fuel Cell Vehicle (FCV). Geographically, the segmentation of the market has been done on the basis of North America, South America, Middle East, and Africa, Europe, and Asia Pacific.
The battery-electric vehicle (BEV) segment is anticipated to hold a decent market share throughout the forecast period on account of the presence of a vast number of vehicles under this segment. The plug-in hybrid segment is projected to show a notable growth during the next five years as the entry of new market players under the plug-in hybrid segment is a major factor supplementing the growth of plug-in hybrid electric taxis over the course of next five years. Also, Plug-in hybrid electric vehicles are those electric vehicles that use batteries for powering up the electric motor and also use an alternative fuel such as gasoline or diesel for power the other propulsion source such as an internal combustion engine. These vehicles can run on electricity and on fuel also offers a higher fuel economy in comparison with conventional vehicles.
Geographically, the North American region is anticipated to hold a substantial share in the market on account of early technology adoption of the presence of a well-established electric vehicle charging infrastructure in the countries like the United States and Canada. The European region is expected to hold a good amount of share in the market on account of the presence of a considerable large number of automotive manufactures across several countries of the region. Furthermore, the market in the APAC region is expected to witness a healthy growth on account of the presence of the fastest-growing economies such as India and China among others, and transport is considered as the backbone of these economies. The constantly growing pollution coupled with the increasing government budgets towards the setting up of necessary infrastructure for the easy deployment of electric feet further bolster the market growth in the APAC region. For instance, in November 2018 EV Motors India in partnership with DLF, ABB India, and Delta Electronics plans to set up 6500 electric vehicles (EC) charging stations across the country over the next five years.
The Recent Outbreak of COVID-19
The market is projected to witness a slight downfall especially in the short period of the next six to eight months due to the intense outbreak of the novel coronavirus disease. The outbreak of the disease has led to a ban on travel across may countries. There is a temporary halt in the activities across the tourism sector that has led to a decline in the demand for taxi services. Also, various government measures to reduce the spread of the disease such as social distancing, and lockdowns has also led to a decline in the traveling activities also. Moreover, the temporary halt in manufacturing activities is also anticipated to moderately inhibit market growth during the short run.
Government Initiatives Regarding the Promotion of EVS
Increasing the need to use vehicles that utilize greener technologies is driving the growth of electric vehicles throughout the globe. The governments of various countries in both developing and developed economies of the world are implementing numerous strategies and taking numerous initiatives for the promotion of electric vehicles is expected to significantly drive the NEV taxi market growth during the next five years. Also, the increase in the deployment of electric vehicles has also grown exponentially in the past years, this also shows the growth potential for the global electric sports market to grow during the course of the next five years.
Electric Car Deployment – World, 2013 to 2018, in Million Units
Source: IEA
Fingerprint Sensors – Have They Become Obsolete or Are They Here to Stay?
BlogThe global identity and access control landscape is witnessing a continuous evolution. Application of biometrics, which, for more than a decade, had remained confined to some high-end applications which included expensive solutions, can now be seen extending even to low end applications. A good number of biometric technologies like iris recognition, gesture recognition, facial recognition and identification are available in the market today. Although iris recognition started gaining traction in the markets lately, it has been able to gain immense traction in a short period on account of high levels of reliability and security offered by it. Since iris scans cannot be easily duplicated, risk of security breach remains low. Facial recognition and identification also offers significantly high security and reliability and continuous advancements in technologies are making this technology more robust. Apple, for instance, has remained a key innovator in this segment. With launch of Iphone X along with other variants of iphone in 2017 , Apple Inc. also showcased its all-new facial recognition and identification technology. Samsung is also another key innovator in this landscape. However, since the performance and security of contactless identification and access control technologies rely on the quality of other hardware components, these technologies are still witnessing some challenges when it comes to widespread adoption across all sectors and end users. Limitations of contactless access control technologies have been strengthening the presence of contact-based technologies like fingerprint recognition among end users, thus boosting their market growth. Continuous advancements in fingerprint sensing technologies are making these solutions more robust and breach-proof. Optical fingerprint sensors, which entered the market when the concept of fingerprint sensing came to light, work by shedding a light on a fingerprint, when finger is placed on the scanner, and capturing a digital image of it.
This image goes to the light-sensitive microchip, which then analyses it based on the pattern of ridges and valleys found in the image of fingerprint, and creates a unique identification code for the user by converting ridges into 1’s and valleys into 0’s. This information is captured for all users initially and stored in a database. Now when a user places the same finger on the scanner, the system again converts the fingerprint into a series of 0’s and 1’s and looks for the code it creates in the database. By matching the code to the list of codes in the database, the system either identifies the user or does not identify the user, and decides whether to grant access or not to grant access accordingly. However, high security risks associated with this approach is driving it out of the market and giving way to other approaches like capacitive fingerprint sensing among others. Capacitive fingerprint sensors have, in a very short duration, managed to hold very high traction in the market.
This technology uses miniaturized capacitor array circuits which perform the analysis of fingerprints. The working principle of capacitive fingerprint sensors is is that charge in a capacitor changes at points where ridges of fingerprints come in contact with the conductive plate, and charge in capacitor remains unchanged at points where valleys are present on the fingerprint. The system leverages an analog-to-digital converter, which records the changes in charge in capacitor at all points and converts them into an array of 0’s and 1’s. All points where the charge changes are considered as 1s by the amplifier integrator circuit while the points where the charge remains unchanged are considered as 0’s. Since this type of fingerprint sensing is very reliable, its popularity is increasing across a wide range of end users. The global fingerprint sensors market growth is majorly being driven by robust growth of smartphone market across the globe. Although the market growth seems flat in many developed economies on account of already high penetration of smartphones in such countries, the market growth is high in many developing and under-developed countries on account of huge investments being pumped into business expansion by smartphone manufacturers. For instance, on July 9, 2018, Samsung, a leading smartphone manufacturer, opened its world’s largest facility for smartphone manufacturing in Noida, India. This expansion is a part of the company’s ‘Make for the World’ initiative, under which the smartphone giant carried out this phase-wise expansion in Noida.
The company pumped around INR 4,915 crore in this facility, and seeks to double the annual manufacturing capacity in Noida from 68 million units earlier to 120 million units. Furthermore, recent removal of a clause from its Production-Linked Incentive (PLI) scheme by the government of India have opened doors to immense growth opportunities. Under this clause, the plant and machinery of smartphone manufacturers, which they would bring to the country, used to be valued at 40% of its value.Since this clause posed huge risks to manufacturers and raised up the barriers to exit for them, it witnessed huge criticism from many of them. Removal of this clause by the government of India, as it seeks to fuel smartphone manufacturing within its borders when the country is struggling with the COVID-19 pandemic, and offering of lucrative financial incentives of around INR 500 billion to smartphone manufacturers, the government anticipates inflow of huge capital investments into this sector. Similarly, countries across regions with favorable business environment for smartphone companies are witnessing a surge in the inflow of capital investments into smartphone manufacturing, thus adding impetus to smartphone manufacturing. Moreover, smartphone manufacturing is also increasing on account of increasing penetration of internet worldwide. The figure given below shows the trend:
Global Internet Penetration, % of Population, 2012 to 2017
Source: The World Bank Group
With increasing internet penetration across the globe, we are witnessing an increase in demand for devices which enable people to harness the benefits of internet connectivity. This is increasing the demand for smartphones across the globe, thus driving with it the demand for components like fingerprint sensors. The demand for fingerprint sensors is also being driven by rapid growth of smart hospitality market worldwide. The figure given below shows the expected growth of global smart hospitality till 2025:
Global Smart Hospitality Market, in US$ Billion
Source: Knowledge Sourcing Intelligence Estimates
Since security occupies a strong position in the overall smart hospitality infrastructure, incorporation of fingerprint sensing capability among solutions is increasing, thus augmenting the fingerprint sensors market growth.
Understanding the importance of Algaecides
BlogAlgaecides are often called biocide (chemical) which is generally used for killing and preventing the growth of algae. It is difficult task to kill black algae due to its waxy coating; hence most algaecides are designed to remove black algae. Algaecides include chelated copper, copper sulfate, and quaternary ammonia, among others.
Growing environmental awareness of nutrient pollution
Nutrient pollution is one of the most widespread, costly, and challenging environmental problems that the world is facing today and is caused by surplus nitrogen and phosphorous in the water. Rapid Industrialization across the globe is causing nutrient pollution in the water bodies, thus forming algae in them. Nutrient pollution can lead to serious problems such as a low level of oxygen dissolved in the water. Severe algal growth not only blocks the light that is needed for plants such as seagrasses to grow but also when the algae and seagrasses die, they decay. In the process of decay, the oxygen in the water is used up and leads to a low level of dissolved oxygen in the water which in turn can kill fish, crabs, and other aquatic animals. Environmental awareness of nutrient pollution is the key driving factor that is boosting the algaecides market growth. For instance, Environmental Protection Agency (EPA) is working diligently with its partners to combat nutrient pollution and prevent algae formation in the United States water bodies. These agencies are also working on regulatory programs such as reviewing and approving state water quality standards that contain numeric nutrient criteria under the Clean Water Act and publishing strict guidelines for industrial and municipal discharges that may contain nutrient-related limits.
Rising demand for high agricultural productivity
Population pressure is continuing to be the deciding factor against proper land and water management in many developing countries. Agriculture production is critical for any form of suitable future but focusing on the agriculture industry alone without regard for other important factors that influence and increase food production is certainly not the way to tackle the problems of food security. The application of algaecides is not causally related to the production of crops, instead, it helps in contributing towards agricultural production which includes weed and pest control outside the farm buildings, nurseries, greenhouse, and other growing operations. In addition, Growing demand for increased crop cultivation owing to the rising population requires the use of algaecides as it covers the treatment of agricultural farm equipment such as sprinklers, drip irrigation systems, and tube wells among others, located in the fields to control algal growth. With the rise in population growth and limitation to the usage of natural resources, there is an increasing demand for high agricultural productivity. A high level of productivity needs to accompany the growing demand for food and agricultural products which are considered as the driving factor for the growth of the algaecides market.
Regulatory issue
The restriction for using algaecides in the aquatic or water environment is defined on the manufacturer’s product label and may include restrictions for water use after algaecide application. Rules and regulations set by the governing bodies are expected to hinder the market growth during the forecast period. Some states require applicators of algaecides to be licensed and certified and expect to have much understanding about the whole process of algaecides along with the environmental concerns. For instance, algae control approaches within National Pollutant Discharge Elimination System (NPDES) framework have certain guidelines like the discharge of residual algaecides must meet the applicable water quality standards; it must meet basin plan narrative objectives for floating material, suspend material and toxic pollutants among many others. Following the conditions of regulatory authorities and aquatic pesticide monitoring requirements may not be considered as the cost-efficient tool for the manufacturers and vendors before applying algaecides in the water bodies thus is expected to restrain the favourable algaecides market trend in the coming years.
Segment Overview
The algaecides market has been segmented based on type, application, and geography. On the basis of type, the segmentation is done based on copper-based, quaternary ammonia, others. By application, the segmentation is done into agriculture, aquaculture, surface water treatment, others. Geographically, the global algaecides market is segregated into the Americas, Europe Middle East and Africa, and the Asia Pacific. The Americas is projected to hold a noteworthy share in the global algaecides market. As per the data published by the Food and Agriculture Organization (FAO), the U.S. is the third-largest marine capture producer with the total production valued at 4.72 million tons in 2018. Furthermore, the country remained one of the major exporters of fish and fish products globally and witnessed a significant increase in exports in recent years. The rising number of hotels and restaurants in the country coupled with increasing expenditure on amusement and recreation facilities will increase the number of swimming pools, thereby adding to the demand for algaecides in the country. Furthermore, companies are increasing their research and development expenditure to introduce a new product in the market, thereby augmenting the demand for algaecides. In Canada, economic growth and favorable long-term economic outlook of the Canadian economy will continue the trend of increasing aquaculture expenditure. Rising residential construction investment will bolster the number of swimming pools and fountains in the country owing to the improvement in the standard of living and rising disposable income. This will boost the demand for algaecides in Canada over the next five years.
Asia Pacific region is anticipated to witness exponential growth in the coming years and an increasing number of tourists arriving in countries like China and India will boost the expenditure for restaurants and hotels offering luxury amenities such as a swimming pool for tourists and ponds & fountains for providing an aesthetic appeal. The booming number of swimming pools and fountains in hotels coupled with rising construction expenditure in the region will drive the demand for algaecides over the forecast period.
ABOUT THE AUTHOR:
Rajat Sudan is a Market Research Analyst at Knowledge Sourcing Intelligence, working on estimates and global/regional specific reports on multiple industries ranging from healthcare to agriculture, with a special knack for agriculture sector. With the addition of his formal education in Economics, Commerce, and Finance, he is able to provide more light on the macro aspects of the story. To read more articles by him, and for more information regarding multiple global markets, visit www.knowledge-sourcing.com.
Electric fuses and shock!
BlogAn electric fuse is an electrical safety device that operates to provide the over-current protection and is generally used as a conduit between an electrical power source and an electrical component. Electric fuses are the essential part of electrical systems in cars, motorcycles, trucks and other types of vehicles and they function to stop electricity from flowing to a particular component as a result of the unsafe electrical condition. Today, automobiles require a lot of electrical fuses for essential activities such as passenger safety and electric car charging stations resulting in a higher demand for electric fuses in the automotive manufacturing industry. The market for electric fuse is expected to increase due to growing industrialization, automobile sector revolution, rising domestic power demand, increasing demand for power transmission equipment.
Growing in-vehicle electronics
Technological advancement in the semiconductor industry has led to the development of electric fuse technologies that are used particularly in the automotive industry. There is an increasing demand for electronic systems within the automotive industry owing to increased attention towards the vehicle-to-vehicle and vehicle-to-infrastructure communications, convenience as well as onboard safety, thus driving the growth of the market during the forecast period. The adoption of electronic systems is growing as technology becomes more widely available on mid-range and entry-level cars, providing another avenue for electric fuse manufacturers to generate higher revenues. In addition, due to the benefits of smart sensors like high reliability, low power consumption and failure detection also boost the demand for vehicle electronics which is further expected to propel the market growth opportunities for the electric fuse market in the coming years.
Significant growth of the world’s electricity transmission and distribution industry
With a growing population, the demand for energy demand continues to increase which is expanding the scope of electric fuse adoption in electricity transmission and distribution. The power delivery system today represents one of the most asset-intensive industries on the planet and a shift of government focus to reinforce the power T&D system in developing countries like India and China also opens up profuse opportunities for the electric fuse market. For instance, the government of India is encouraging investment in transmission and distribution system through schemes such as Deen Dayal Upadhyaya Gram Jyoti Yojana (DDUGJY) that aims to provide power for every village.
Impact of COVID19 pandemic in overall electric fuse market
The disruption in the manufacturing industry due to COVID-19 has severe social, financial, and operational consequences which are forcing manufacturers to reassess risk management and contingency plans and new ways of working opportunities, all at the same time. Also, the current COVID-19 pandemic has drastically affected the consumer electronics industry from initial supply and manufacturing disruptions to upcoming demand shock with the uncertainty of the recovery timeline. Besides, the overall impact of global production shutdowns and collapsing demand coupled with the challenges with components supply will have a major economic impact in the short and medium run. Furthermore, the outbreak has dampened the demand for oil resulting in falling prices and declining production especially in the middle of Russia-OPEC price war. Such trend of falling prices is also observed in the electricity sector as the pandemic caused a tremendous drop in electricity consumption globally as businesses and industrial activities are halted, all such situations have drastically impacted the energy and power industry in the region which is further expected to restrain the growth of the market in short term.
Segment Overview
The electric fuse market has been segmented based on voltage, material, end-user, and geography. On the basis of voltage, the segmentation is done as, medium and low. By material, the segmentation is done into copper, silver, and bronze. Based on the end-user industry the classification has been done into energy and power, automotive, manufacturing, consumer electronics, construction, and others. Geographically, the market is segmented into North America, South America, Europe, the Middle East and Africa, and the Asia Pacific.
By the end-user industry, the automotive segment is projected to show decent growth during the forecast period on account of increasing investment by major market players. Also, advancement leads to increasing demand for in-vehicle electronics which is further expected to boost the market for electric fuse during the forecast period. In fact, it is estimated that the cost of electronics as a percentage of the overall vehicle cost is expected to increase from 30% in 2005 to 50% in 2030 (source: NXP Semiconductors). However, slowing growth of the automotive industry and a sharp downturn in production and sales from 2018 because of a slump in demand in the world’s biggest market China is expected to slow the growth of the market in short term. Furthermore, the current COVID-19 pandemic has drastically affected the industry from initial supply and manufacturing disruptions to upcoming demand shock with the uncertainty of the recovery timeline.
Geographically, the Asia Pacific region is projected to hold a noteworthy share in the global electric fuse market on account of expanding the automotive and construction industry and the presence of major market players in countries like China who is the world’s manufacturing center and constitute a significant share in global manufacturing output. Furthermore, the growing investment in the manufacturing and energy and power industry also supports the electric fuse market growth in the region throughout the forecast period. In addition, increasing product launches in the European region by major players shows a sign of development and growth in the region. For instance, recently, Mersen announced the launch of Modulostar® fuse-disconnector for application with power cylindrical low voltage fuses.
ABOUT THE AUTHOR:
Rajat Sudan is a Market Research Analyst at Knowledge Sourcing Intelligence, working on estimates and global/regional specific reports on multiple industries ranging from semiconductor to food and beverages, with a special knack for automotive and semiconductor. With the addition of his formal education in Economics, Commerce, and Finance, he is able to provide more light on the macro aspects of the story. To read more articles by him, and for more information regarding multiple global markets, visit www.knowledge-sourcing.com.
3D Motion Capture System – A Revolution for Media and Entertainment
BlogMotion Capture or mocap is a process in which the movement of people is digitally recorded. 3D motion capture systems are those systems that enable the users to capture those movements with the help of cameras and sensors then processing of those images or videos with the help of processing software. These systems are used across numerous industry verticals ranging from media & entertainment, healthcare, military and defense, sports and, others.
The growing applications of these systems across these industries is considered to be one of the prime factors which is propelling the market growth significantly during the next five years. These systems allow users to capture the real-time motion of humans and objects for attaining the required level of animation. The development of new games coupled with the decent growth in the gaming population is projected to significantly boost the adoption of these systems and thus, augment the market growth in the coming years. The development of VR games for gaming consoles along with the booming adoption of these games will further bolster the market growth.
Segment Overview
The 3D motion capture system market has been segmented on the basis of system, industry vertical, and geography. On the basis of system the 3D motion capture system market has been segmented into optical and non-optical. On the basis of industry vertical, the market has been classified into media and entertainment, healthcare, and others. Geographically, the market is segmented into the Americas, Europe Middle East and Africa, and Asia Pacific.
By system, the optical 3D motion capture system segment is projected to witness a substantial market share throughout the forecast period primarily on account of its wide application across the media and entertainment industry. The burgeoning growth in the making of 3D and high-tech animated movies is driving market growth in the near future. Furthermore, the booming investments by various production houses in 3D studios is further propelling the opportunities for the market to surge in the near future. Also, the rapid advancements in image capturing and processing technologies have enabled a significant increase in the demand for various solutions, thus resulting in the 3D motion capturing systems market growth in the coming years. In addition to this, the growing demand for augmented and virtual reality technology has also resulted in an increasing requirement for 3D capturing technologies, thus further augmenting the market growth in the coming years.
By industry vertical, the media and entertainment industry is anticipated to hold a considerable market share throughout the forecast period. The major factors that bolster the significant share of this segment during the next five years include the high adoption of these systems across the film making and game development sectors due to the rapid growth in the adoption of 3D gaming consoles and movies. Furthermore, the booming investments by developers and filmmakers in the adoption of the latest and advanced technologies further amplify the demand for these systems across this sector. The healthcare sector is projected to witness rapid growth during the next five years burgeoning adoption of these systems across the healthcare sector for the on account of technology adoption technology and investments in healthcare infrastructure in the major developing economies of the world is projected to be a key factor driving the growth of this segment during the next five years. Additionally, the emergence of wireless technologies has led to the development of personalized healthcare systems. This evolution has resulted in the fast global adoption of wearable devices that aids in an uninterrupted transmission of health-related information to service providers. The communication between patient and doctor is clear and precise and is devoid of ambiguities. This is one of the factors which is furthering enabling the growth of wearable display 3D motion capture system market.
Geographically, the North American region is anticipated to hold a major market share on account of the early adoption of technology and well-established semiconductor industry in countries like the United States and Canada among others. Furthermore, the presence of key market players in the region is also supplementing the 3D motion capture system market growthin the North American region during the next five years. The Asia Pacific region is projected to witness a noteworthy CAGR throughout the forecast period on account of rising investments in the up-gradation of healthcare infrastructure and the military and defense sector.
Competitive scenario
The growing investments by key market players as well as small players in the market in the form of R&D for developing new products and expanding the product portfolio along with facility expansions and acquisitions and partnerships in order boost the production to cater to the rising market demand and also to tap the potential that the market holds further shows the potential for the market to surge during the next five years.
ABOUT THE AUTHOR:
Rachit Gulati is a Market Research Analyst at Knowledge Sourcing Intelligence, working on estimates and global/regional specific reports on multiple industries ranging from automation to food and beverages, with a special knack for automotive and healthcare. With the addition of his formal education in Economics, Commerce, and Finance, he is able to provide more light on the macro aspects of the story. To read more articles by him, and for more information regarding multiple global markets, visit https://www.knowledge-sourcing.com.
Paper Coating Materials – The Essentials For Good Paper Quality
BlogPaper coating is a method that is used as a finishing process to treat paper and give it additional features. Paper coating materials are defined as the different types of substances that are used in order to coat the base paper, for the purpose of accelerating and improving its basic properties and in turn impart certain features to it, which include brightness, smoothness, and glossiness among others. The different types of paper coating materials have different features and different applications they are able to cater to effectively. The gloss-coated paper is shiny, is able to support high contrast and a vivid color definition unlike other types of coated papers, and is increasingly used for magazines, exhibits, and posters to draw attention. On the other hand, matte-coated papers are less shiny than the gloss-coated papers, similar to dull coated papers, is the least expensive kind of paper, and is used by many small businesses.
Paper coating is increasingly important as paper coatings such as glossy paper coating is able to facilitate the production and printing of high-quality photos possible with more accurate colors and limited contrast loss. Moreover, paper-coating materials are also able to give products an artisanal look as it can be used for wrapping purposes also.
Paper Coating Materials Market, By Product Segment
Different types of paper coating materials are used for enhancing the properties of the paper and board materials an impart glossiness, matte, smoothness among others. Some of the types of paper coating materials, which are one of the essential parts of the chemical and materials industry are discussed below.
Clay
This type of pigment is also known as kaolin clay and is also one of the most commonly used pigments in the paper and packaging industries for the coating of the different grades of paper. It is able to enhance the printability of the paper and is able to facilitate the extension of paper fibers.
Titanium Dioxide
This pigment is used for the purpose of coating the paper materials and is generally used in small quantities and only case of applications which involve the requirement of properties such as extreme whiteness, opacity, or pitch control. In addition, it can easily improve the base paper quality and increases the brightness of the paper.
Calcium Carbonate
Calcium carbonate is a type of coating pigment that is used most commonly and widely for paper and board grades. These are attached efficiently to the surface of the paper to be coated with the help of polyvinyl alcohol among some other materials. However, it cannot be used in the manufacture of acid paper is it is an alkaline type of coating pigment and can cause reactions. There are different types of calcium carbonates that are used as coating materials such as PCC (precipitated calcium carbonate) and GCC (ground calcium carbonates), but the PCC is increasingly preferred by the consumers.
Product Offerings by Market Players in Paper Coating Materials Market
The number of industries that are making the use of paper coating materials such as clays, calcium carbonates, and starch among others is increasing due to the growing concerns of the concerned about the quality of the papers produced for catering to the different industries. Thus, this is driving them to demand paper-coating materials in order to improve the product and enhance its overall properties. This is a factor, contributing to the increase in the paper coating materials market size. Moreover, the market players are highly involved and participating in the market to improve and enhance Paper coating materials products and to encourage the use of such products among the people. For example, Archroma, one of the leading companies dealing in the provision of dyes and speciality chemicals. It offers a product called the “Cartacoat”, which is able to facilitate the improvement of gloss properties of the lightweight coated paper by replacing the part so the coating such as kaolin. It shows the ability to be applied directly in the coating mix and is able to effectively maintain the gloss level. In addition, Omya AG, one of the leading companies dealing in the provision of industrial minerals provides a wide range of calcium carbonate products and auxiliary chemicals in order to cater to the demand for paper coating materials. It offers 4 calcium carbonate-based product families called the “Hydrocarb”, “Drycarb”, “Omyaglass”, “Omya Syncarb”.
The Hydrocarb family has different products for delivering high brightness qualities to the paper and contains ground calcium carbonates that can are used for both filling and coating purposes. Drycarb is a product family that includes all the dry or dried-ground calcium carbonate, these products are offered in large bags as well as water-soluble paper bags foe making the handling easier. These products have low anionic charge, easy storage, and excellent shelf life. The Omygloss are special pigments that are specifically designed to comply with the SC grades, and improving the features which include smoothness and gloss and Omya Syncarb are a product that is in the form of precipitated calcium carbonate, suited to meet the demands from the majority consumers and are most commonly used type. Therefore, these products offering by the market players in order to cater to the consumers effectively is aiding in boosting their market position and adding to their contributions towards fuelling the market growth.
Conclusion:
Currently, a different type of calcium carbonate products for use as paper coating materials is expected to hold a significant share in this market and is anticipated to witness a fast growth rate in the upcoming years due to the burgeoning demand from the paper industry as well as the packaging industries. With respect to current market trends, it is anticipated that the titanium oxide coating materials papers and boards will flourish in the upcoming years with demand being generated owing to the high amount of usage in the paper and packaging industry. There is a growing need for a well-developed and good-quality product, which has good durability, finish, and smoothness among other attractive characteristics. This is one of the major factors, which will continue to play a role in driving this market. In addition, it will attract many new entrants who will bring new and better changes and enhancement in paper coating materials. Thus, the market will remain competitive in the upcoming years and it is projected to show modest growth in the upcoming years.