The global construction market is expanding and witnessing huge investments complemented by population growth, rapid urbanization, favorable government policies, and more. At the same time, the construction industry is evolving in terms of innovation and efficiency.
Infrastructure development is accelerating across the globe and needs materials that can reduce labor and time while ensuring consistency in quality. Ready-Mix Concrete has changed the way construction companies operate and deliver projects over the last decade.
Ready-Mix Concrete is manufactured in a controlled environment, leading to consistent quality. The main advantage of this is being ready-to-use on arrival at the construction site and in turn, reduced construction time. Thus, making it a more viable and effective alternative to site-mix concrete. Further, in the era of environmental consciousness, Ready-Mix Concrete is witnessing increased adoption as this is a sustainable option with a lesser carbon footprint and wastage.
Advantages Offered by Ready-mix Concrete
Specialized batching plants manufacture Ready-Mix Concrete, a customized product, to meet the demand of the construction industry as per specifications.They mix it in the right proportion to maintain the highest level of quality.Ready-Mix Concrete offers many benefits that site-mix concrete lacks, thus augmenting its demand within the construction sector.
Quality and Consistency: Because specialized batching plants prepare Ready-Mix concrete in a controlled environment where they measure and blend it precisely, the quality and consistency are maintained.
Cost-effectiveness: As Ready-Mix concrete is prepared in huge quantities; there are economies of scale at play. This makes the Ready-Mix concrete companies supply their product at a lower cost than the site-mix concrete cost leading to widespread application across the construction sector.
Versatility and Durability: Ready-Mix concrete can be tailored to meet the specific demand of any project. This provides the necessary strength, durability, and other benefits. This ensures that it can withstand harsh weather conditions and chemical exposure, thus making it a better option for residential, commercial, and industrial construction projects.
Sustainability: Ready-mix concrete production is sustainable. It significantly contributes to the environmental impact of construction projects due to its energy efficiency and reduced carbon emissions. This makes Ready-Mix concrete a perfect product for the construction industry, which has faced continuous criticism from activists who believe that there is a lack of participation from the construction companies due to their lackluster approach toward sustainability.
The increased adoption has also led to the Ready-Mix Concrete manufacturers witnessing consistent revenue growth. One such example is Cemex, one of the major ready-mix concrete companies of Mexico, which generated revenues of $7,116 million in the year 2023 from ready-mix concrete, increasing from $5,732 million in the year 2021, an increase of 24.14%.
Source: Cemex Annual Report
All these advantages, combined with problems associated with on-site concrete preparation, make Ready-Mix Concrete drive the construction industry. The companies are expanding their footprint to tap into the existing opportunities and harness the huge potential coming along with the growth in the construction sector.
The future is the Era of the Green Economy, i.e., Ready-mix Concrete over on-site Concrete
This is the era of environmental consciousness. Industries need to adapt to the changing environment; only then will they be able to survive in the future.
A report by Oxford Economics predicts that the construction industry will reach US$13.9 trillion by 2037 from US$9.7 trillion in 2022, driven by the green economy. This necessitates the construction industry to adapt to sustainable construction practices, allowing the participants to harness future opportunities.
As per International Finance Corporation, a World Bank group, “Construction value chains account for 40% of energy and industrial-related carbon dioxide emissions globally and this contribution can grow significantly with increasing population, rapid urbanization, and rising income level, necessitating the demand for better housing and commercial buildings”. As a result, the construction industry’s meeting the sustainable goals will be pivotal to the climate future of the world.
Carbon emissions can be reduced significantly within the construction industry by adopting new technologies, utilizing sustainable raw materials, and implementing appropriate policies. Governments across the world are formulating stringent rules and regulations to curb the carbon emissions from the construction industry to achieve net-zero carbon emissions by 2050. For example, the United States Environmental Protection Agency announced a grant selection for $160 million to support the shift to cleaner construction materials to reduce climate pollution linked to the production of construction materials and products. Governments across the globe are undertaking similar initiatives. This poses a new challenge for the construction industry as it needs to align itself with the new laws and regulations to continue witnessing growth.
In the European Union (EU), the construction industry accounts for 35% of the EU’s total waste generation. Material extraction, manufacturing of construction products, and construction and renovation of buildings are estimated to contribute 5-12% of total national greenhouse gas emissions. It is estimated that if greater material efficiency were applied, it could result in saving 80% of those greenhouse gas emissions. Thus, the EU has adopted the Construction Products Regulations to require CE marking for all products that fall under the scope of the regulation.
Additionally, India, which has the fastest-growing construction industry, fueled by the Smart City Mission, Bharat Mala project, Sagar Mala project, Pradhan Mantri Awas Yojana, and many more, has seen capital investments grow by 5.2 times (in Rupees) in 2023 compared to 2014. The Indian government has pledged during COP26 to reduce carbon emissions by 1 billion tonnes by 2030, and the construction sector remains the primary focus as it accounts for 17% of the nation’s total greenhouse gas emissions.
The construction industry is growing exponentially, but the highest share of growth lies in the green economy. As per the International Finance Corporation, “Global Domestic and Foreign Private Green Debt Finance for construction Decarbonization has increased 20-fold in the last five years from $15-20 billion in 2017 to around $220 billion in 2021”. The construction industry needs to adopt best practices that would help it reduce its carbon emissions. Ready-Mix Concrete is one of the ways to achieve the above goals, it helps in reducing carbon by reducing wastage during production and saving transportation emissions. Furthermore, evolving technologies like artificial intelligence (AI) and IoT would continue assisting the Ready-Mix Concrete players to have precise control over the production of RMC, leading to greater efficiency and consistency. Thus, Ready-Mix concrete with its new advancements is crucial for the construction industry which is facing challenges due to climate change.
Innovations in the Ready-Mix Concrete Market
With the advancement in technology like Artificial Intelligence and the Internet of Things (IoT), the Ready-Mix Concrete sector is witnessing innovations. Earlier, concrete batching involved a manual process, but with the advent of automated batching systems, computer-controlled algorithms accurately measure and mix the concrete solutions, making the final product more qualitative and consistent.
Digitization and the Internet of Things(IoT) are significantly impacting the Ready-Mix Concrete sector, as sensors and IoT devices monitor and collect data about temperature, slump during mixing, etc., leading to better quality concrete mix. Mobile technology, self-consolidating concrete, and the use of environment-friendly cementitious materials like fly ash, slag, and silica fume help to reduce the carbon footprint.
Thus, advancements and innovations in the Ready-Mix Concrete industry provide numerous benefits, leading to increased efficiency, better quality, enhanced sustainability, and the ability to construct better structures.
Tapping The Huge Potential of the Existing Ready-mix Concrete Market
India has the fastest-growing construction industry.
Active Voice:
Reports by Invest India predict that the Indian construction industry will reach $1.4 trillion by 2025. This growth in the construction industry is driven by its vast population, high rate of urbanization, and increased government spending. For example, per the annual report of 2023-24 released by the Ministry of Road Transport and Highways, Government of India, there was an approximately 4 times increase in government capital expenditure from USD 8.5 billion in 2013-14 to USD 36.0 billion in 2023-24.
Still, India’sReady-Mix Concrete Market is in its infancy. Developed countries like the USA, use 80 to 85% of cement consumption in the form of Ready-Mix concrete (Source: National Ready Mixed Concrete Association), but the same for India is only 5%. The country still accounts for 80 to 82% of cement consumption as on-site consumption.
Countries like India and similar emerging economies have a huge untapped market for Ready-Mix Concrete. The companies should focus on these markets to maximize their revenues and expand their footprint.
https://www.knowledge-sourcing.com/resources/wp-content/uploads/2024/10/Ready-Mix-Concrete.webp5191000Gaurav Singhhttps://www.knowledge-sourcing.com/resources/wp-content/uploads/2023/02/Printable-Resolution-big-300x78.pngGaurav Singh2024-10-18 06:31:512025-05-07 12:52:42The Future of Construction: How Ready-Mix Concrete is Revolutionizing the Industry
The global degradable bioplastics market is projected to grow at a CAGR of 8.5% during the forecast period (2024-2029).
A bioplastic is a type of biobased polymer, that is produced using various types of vegetable oil, fats, corn starch, and other forms of carbohydrates. Bioplastics are environmentally friendly products, which are way safer than petroleum-based plastics. The degradable or bio-degradable bioplastic is easily degraded when composted in the ground. The use and production of bioplastic offer numerous benefits to the environment, like it produces lower carbon emissions than regular plastics, whereas it also has an enhanced biodegradability capability, creating less waste in landfills. The bioplastics can also be recycled easily and also improve the product safety.
Bioplastic is one of the most effective replacements for petroleum-based or traditional plastic in the global market. Bioplastic is generally made using starch, which consists of more than half of all bioplastic available in the international market. Globally, Europe is among the biggest producers of starch in the market, producing about 10.5 million tons of starch every year, from their 73 starch production facilities, in 20 EU member states. Europe approximately processes about 24 million tons of agricultural raw materials, like maize, potato, barley, and rice, to produce its starch. Similarly, the USA outputs about US$ 47.50 billion worth of starch, out of which about US$ 1.83 billion worth of starch is being exported to various countries. The increase in starch production is projected to further boost the bioplastic market in the globe.
The degradable bioplastic market is further expected to witness a significant boost in its demand, with the increase in innovation in the industry. For instance, in July 2024, the University of Copenhagen has developed biodegradable plastic from starch of barley blended with the fiber of sugar-beet waste. Similarly, the Balrampur Chini Mill, in February 2024, has invested about about US$ 240 million (INR 2,000 crore) to set-up India’s first ever bioplastic plant. The company aims to produce about 75,000 tons of bioplastic every year from this facility, increasing the market size of the degradable bioplastic in the nation, in in the globe.
The global degradable bioplastics market by application type is segmented into packaging, agriculture, food service, medical & pharmaceutical, and others. The packaging category of the application segment of the global degradable bioplastic market is estimated to attain maximum market share. Under the packaging category, bioplastics are used in multiple industries, like food & beverages, e-commerce, and raw materials, among others. Bioplastic is generally used in every industry that requires the application of petroleum-based plastic for the packaging. The bioplastic material is considered to be a great alternative for petroleum-based plastic material. In the food and beverage industry, bioplastics can be used for packaging and shipping multiple products, as well as it can also be used for the packaging of grains and other agricultural crops. The low weight of the bioplastic can also boost its demand in the packaging industry as an optimum replacement for petroleum-based plastic.
Based on geography, the global degradable bioplastics market is expanding significantly in the Asia-Pacific region, as the region is one of the most affected regions by plastic wastage. The demand for traditional plastic in the region is greater than in all other regions. In the Asia Pacific region, the demand for plastic material has witnessed a constant increase with the increase in the demand for consumable products in the region. Bioplastic has the capability to replace the use of traditional plastic in the region, reducing plastic pollution from the region, and increasing the market size of bioplastic in the globe. The region also has the competence to mass produce bioplastic in the region, as the region is among the biggest producers of all the raw materials required for the production of bioplastics, like vegetable oil or fats, and dairy wastes like polylactic acids, and polyhydroxybutyrate.
The global degradable bioplastics market is supported by key players such as TGP Bioplastics Pvt. Ltd., Green Dot Bioplastics, Ecolastic, Cardia Bioplastics, The Hemp Plastic Company, Biome Bioplastics, Applied Bioplastics, PTT Global Chemical, Shimadzu Corporation, and Danimer Scientific.
https://www.knowledge-sourcing.com/resources/wp-content/uploads/2024/10/degradable-bioplastics-market.webp5191000Gaurav Singhhttps://www.knowledge-sourcing.com/resources/wp-content/uploads/2023/02/Printable-Resolution-big-300x78.pngGaurav Singh2024-10-18 06:03:582024-11-27 08:06:12Degradable Bioplastics Market is expected to grow at a CAGR of 8.5%
Electric vehicles (EVs), including commercial vehicles, scooters, and cars, are surprisingly unpopular in the used vehicle market. In a few cases, they are often sold for less compared to fossil fuel-powered models. The reason for anticipating this theory revolves around the challenge of precisely determining an EV’s remaining battery life. The remaining battery life is considered a crucial factor determining the EV’s cost, which significantly impacts how much a used EV is worth. With the growing trend of electric vehicles, the market for used EVs is also expected to increase.
In September 2024, the largest electric car market, Tata Motors, joined hands with used car marketplaces to facilitate the resale and exchange of electric vehicle owners who are looking to upgrade their EVs. Tata Motors is said to have the largest car park in the electric vehicles segment in India, with an estimate of around 170,000 units. As a pilot, Tata Motors started working with Spinny, one of the used online car marketplaces.
Used Electric Vehicles (EVs) Market Drivers
The increasing demand for used EVs can be attributed to several factors. The primary reasons are increasing sales of new EV models worldwide, the faster development of the charging infrastructure, and government policies supporting this market. The charging infrastructure is being incorporated into residential buildings, and the number of publicly accessible chargers is increasing to enhance convenience and accessibility.
According to IEA (International Energy Agency), at the end of 2022, there were 2.7 million public charging points worldwide, more than 900,000 of which were installed in 2022. In this regard, globally, more than 600,000 public slow charging points were installed in 2022, out of which 360,000 slow chargers were installed in China, which brought its stock of slow chargers to more than 1 million. By the end of 2022, China was home to more than half of the global slow electric vehicle chargers. On the other hand, Europe ranked second in the case of slow electric vehicle chargers, with 460,000 chargers in 2022, which was a 50% increase as of 2021. In Europe, the Netherlands is leading with 117,000, followed by 74,000 chargers in France and 64,000 in Germany. Furthermore, the slow-charging stock doubled year-on-year in Korea, reaching 184,000 charging points.
Figure 1: Slow Electric Vehicle Chargers in Top Countries, 2022
Source: IEA
The market opportunity revolves around purchasing used electric vehicles at more affordable prices than new models from various online platforms. Buying used EVs would help customers adopt sustainable technologies at much more affordable prices and contribute to reducing carbon emissions. Increased consumer environmental awareness and government incentives for adopting zero-emission vehicles are major factors for the used EV market’s growth.
The falling prices of used EVs are one of the major drivers of market growth. According to Recurrent Motors, Inc., the prices of Tesla cars have fallen 67.89% in the last two years since 2022. In 2024, the price of the 2021 Tesla Model 3 sedan dropped by an average of about 29%, going from $40,522 in January 2023 to just $28,700 in January 2024. Furthermore, 2021 model-year used vehicles of all types further lost about 19.5% in value over the same period.
According to Recurrent Motors, Inc., the sale of all used BEVs and PHEVs has been higher than that of most EV models.
Tax benefits related to buying an EV are a major benefit to the buyers. Finance Minister of India, on 1st July 2024, announced during the presentation of the Union Budget 2023 that electric vehicles will become affordable in India through the support of extending battery subsidies for another year. This was mainly done because Green Growth came under the top seven priorities of the Union Budget 2023. In this regard, the government of India announced tax benefits under the new Section 80EEB, by which individual taxpayers can have tax deductions of up to 1.5 lakhs on the interest component of a car loan taken to buy an EV.
According to the report published by the IRS on the “Used Clean Vehicle Credit”, the United States, beginning 1st January 203, buying a qualified used EV or fuel cell vehicle (FCV) from a licensed dealer for $25,000 or less may be eligible for a used clean vehicle tax credit. The credit further equals about 30% of the sale price with a maximum credit of up to $4,000.
Increasing Sales of Electric Vehicles
According to the IEA (International Energy Agency), the sale of battery electric vehicles (BEVs) increased from 4.7 million in 2021 to 7.4 million in 2022 and 9.5 million in 2023. On the other hand, battery hybrid electric vehicles (BHEVs) sales were 1.9 million in 2021, 2.9 million in 2022, and 4.3 million in 2023. The demand for BEVs and BHEVs has increased by 102.13% and 126.32%, respectively, from 2021 to 2023. This increase in the sale of new EVs would boost the use and adoption of a sustainable vehicle ecosystem, leading to increased demand for used EVs.
Electric vehicle sales are driven in major regions of the United States, China, Europe, and India. The buying of electric vehicles is driving the demand for EV batteries. According to the International Council on Clean Transportation (ICCT), in the United States, sales of new electric light-duty vehicles reached about 1.4 million in 2023, up from nearly 1 million in 2022.
This is a sales share of about 9%. China remained the world’s largest EV market, with approximately 3 million EVs sold in 2023. This is a 5%-point increase from the previous year. India doubled its sales to 100,000 EVs, reaching 2% of its new LDV sales in 2023. With government backing, growing trends toward electric vehicles, and the application of innovative technologies, the use of EV batteries will increase, as will the expected growth of the recycling of EV batteries.
Electric Vehicle Battery Recycling Market
The EV battery recycling market is a significant factor responsible for driving the used EV market growth. The battery recycling segment in the used EV market is essential as it creates a sustainable environment, thus enhancing the lifecycle of EV batteries and reducing the costs associated with raw materials. Not only this, but the recycling of EV batteries also promotes a circular economy that allows valuable materials such as lithium, cobalt, nickel, and graphite to be recovered and re-used.
The major regions are China, the USA, Europe, and India, where EV sales are significant. The government’s support for the development of recycling plants is a significant reason for the EV battery recycling market’s growth. Technological advances and innovation also play a critical role in the market’s expansion.
In May 2023, Glencore and Li-Cycle announced a joint study to develop a European recycling hub. This is expected to create the first European fully closed-loop solution from lithium-ion battery material inputs to battery-grade products. This could be Europe’s largest source of recycled battery-grade lithium, nickel, and cobalt. This Hub has a processing capacity of 50,000 to 70,000 tonnes of black mass input annually. This Portovesme Hub would leverage Li-Cycle’s state-of-the-art hydrometallurgical technology. It is anticipated to be Europe’s largest producer of sustainable battery-grade products, located in Sardinia, Italy.
In June 2024, Altilium and Enva Signed an MOU for an EV battery recycling partnership. This partnership would help Enva and Altilium leverage collection infrastructure, recycle old EV batteries, and recover critical materials. This would help create a circular economy for battery minerals in the UK. Altilium can recover over 95% of the battery metals using advanced hydrometallurgical recycling processes.
Government Policies Supporting Electric Vehicles
Favorable government policies are leading to the adoption of EVs. According to the U.S. Department of Transportation, the U.S. Federal Government set a goal to make half of all new vehicles sold in the U.S. in 2030 zero-emission vehicles and to build a convenient network of more than 500,000 chargers. This will support making EVs accessible to all Americans, aiming towards local and long-distance trips.
According to the Governor of California, an executive order was issued requiring that by 2035, all new car and passenger light truck sales be zero-emission vehicles. This order was issued to move the state further away from its reliance on climate change-causing fossil fuels while retaining and creating jobs and initiating economic growth. As part of this order, the California Air Resources Board developed regulations that mandated that 100% of the in-state sales of new passenger cars and trucks be converted at zero-emission by 2035. This regulation will support achieving at least a 35% reduction in greenhouse gas emissions as well as an 80% improvement in the oxides of nitrogen emissions from cars state-wide.
In India, under the Faster Adoption and Manufacturing of Electric Vehicles (FAME II) scheme, the government formed a national policy relevant to EVs, which was implemented by the Ministry of Heavy Industries for five years with a budget of Rs. 10,000 crores.
Furthermore, the European Union adopted a law in 2023 to make all new cars and vans sold in Europe zero-emission from 2035. In 2023, the most popular alternative to diesel and petrol cars was battery electric vehicles (BEVs), which represented more than 14.6% of all new cars sold in the European Union. Thus, these developments by various governments are the reason for the faster adoption of electric vehicles.
Used EV Market Restraints
The market for used electric vehicles faces challenges that are expected to hinder its growth and adoption. A reasonable amount of the battery resale value concerns arise from the depreciation and residual value of the unit. Unlike traditional internal combustion engine vehicles, which tend to retain their value more effectively, used EVs have seen dramatic drops in resale prices. For instance, the residual value of electric vehicles is declining at a faster rate than that of ICE vehicles. In this regard, a study in the United States found that the average price of a one-to-five-year-old EV decreased to 31.8% year over year, equating to about $14,418. Additionally, in comparison, the average price for similarly aged ICE vehicles fell 3.6%. This depreciation may dissuade potential customers who resent paying for a car which will easily lose value. From the customer’s point of view, the residual will not only be lower than expected but also impact the battery’s longevity and performance. Some consumers are willing to reduce gas consumption and embrace the electric vehicle movement only. Still, they are held back by the uncertainties of owning such automobiles.
Infrastructure and service support scarcity is another major problem confronting the used EV market. Most of the independent garages and workshops are unable or unwilling to service electric vehicles, particularly in rural places. As a result, consumers may become anxious about maintenance and repair options available for purchased used EVs. Charging infrastructure has started developing but is still lacking in some areas, making potential buyers more worried about range anxiety. In the absence of a decent network of charging stations, customers can be wary of buying used EVs since they would expect to face the trouble of locating adequate charging facilities. Tackling these issues requires manufacturers, governments, and service providers to work together to increase consumer confidence through better infrastructure, more detailed information on the total cost of ownership, and innovative approaches to avoid consumer depreciation concerns.
Used Electric Vehicle Market Players
Com Inc: The company’s website features various models and displays the average fuel savings. Users can also search for vehicle details.
Cars24: The company presents different models on its website and has retail outlets where customers can view cars for sale. It is a leading player in the sale, purchase, and financing of pre-owned cars in India, Australia, Thailand, and UAE.
TrueCar, Inc.: TrueCar is an online marketplace for new, used, and certified pre-owned vehicles. On its website, customers can engage in buying and selling automotive transactions. TrueCar partners with a network of certified dealers to offer one of the most expansive inventories. It is bringing more transactions online and offers unique solutions for purchasing a car for any budget and any number of times.
Find My Electric: This online marketplace allows anyone to list their vehicle for sale and complete the transaction on the website in a few easy steps. First, enter the vehicle information, upload photos of the EV, and give a detailed description. Once the listing is live, interested buyers will contact the seller using the contact information. Both parties can choose the structure of the deal and negotiate the best price.
https://www.knowledge-sourcing.com/resources/wp-content/uploads/2024/10/used-EV-market.webp5191000Gaurav Singhhttps://www.knowledge-sourcing.com/resources/wp-content/uploads/2023/02/Printable-Resolution-big-300x78.pngGaurav Singh2024-10-17 06:44:152024-10-18 06:36:07Driving Into the Future: The Surge of the Used EV Market
The polyvinyl alcohol (PVA) market is expected to grow at a CAGR of 3.89% during the forecast period.
The polyvinyl alcohol (PVA) market is driven by the rising demand for sustainable materials from diverse end-user industries, increasing technological innovations, and changing consumer preferences.
As per the report, the polyvinyl alcohol (PVA) market is expected to grow significantly.
PVA are water-soluble synthetic polymer materials with their properties like film-forming, adhesive, emulsifying, and adhesive properties. They are extensively utilized in a variety of applications in various end-user industries such as agriculture, medicine, consumer goods, and electronics because of their unique characteristics like non-toxic, water-soluble, odorless, biodegradability, and transparency properties. They present strong mechanical strength and environmental benefits making them flexible and durable in employment by multiple industries.
The market is encountering development due to various components, such as an increment in the requirement for biodegradable and water-soluble packaging materials driven by environmental concerns and government support. Moreover, PVA is utilized in water-soluble packaging for pharmaceuticals medicine, and supplements, and medical industries for wound dressings and biodegradable medical gadgets while in agriculture industries for controlled-release fertilizers and seed coatings, advancing effective and maintainable cultivating hones. Further, PVA is being researched for eatable packaging solutions, which can decrease waste produced through packaging within the food industry. Innovative progressions in production and handling have driven superior item quality, expanded productivity, and decreased costs. In addition, the growing inclination of consumers to favor convenience-oriented items, such as water-soluble pods and pouches, will contribute to the expansion of the market during the forecasted period. For example, in February 2023, Mitsubishi Chemical Group planned to set up a new facility at the Okayama Plant to extend production capacity for forte brands of polyvinyl alcohol resin, GOHSENX, and Nichigo G-Polymer, set to start operations in October 2024. Additionally, in February 2022, Bioplastics International developed water-soluble PVA products as a sustainable option in place of plastics intending to decrease ocean and beach pollution.
Based on the grade, the polyvinyl alcohol (PVA) market is categorized into fully hydrolyzed, partially hydrolyzed, sub-partially hydrolyzed, low foaming grades, and other grades (testified grades and fine particle grades). the market is predicted to be majorly influenced by partially hydrolyzed and fully hydrolyzed grades. Partially hydrolyzed grades are utilized majorly in the textile industry for packaging, adhesive, and coating purposes led by the rise in demand for environmentally friendly materials while fully hydrolyzed grades are widely employed in industries like paper, construction, and packaging industries due to increased sustainable material demand, which will fuel the expansion of the market.
The polyvinyl alcohol (PVC) market based on the end-user industry is divided into food packaging, paper manufacturing, construction, electronics, textile manufacturing, and other end-user industries. The two industries food packaging and construction industries are anticipated to significantly contribute to the expansion of the PVC market. PVC is opted for its rigid and ease of maintenance making them a better alternative in infrastructure development like the production of pipes, windows, and flooring while its durability and flexible packaging make it a protective food packaging option.
The polyvinyl alcohol (PVA) market has developed substantially in the Asia Pacific region due to various factors. The region is expected to grow due to the increasing consumer goods industry and rapid industrialization leading to the rise in demand for PVA materials because of their versatile and biodegradable properties. The Asian country’s governments are implementing environmental regulation as well as supportive initiatives that also contribute to the advancement of sustainable materials such as PVA. Moreover, the advancement in innovation by manufacturing companies of PVA to widen its application to diverse industries will also contribute to an increase in the region’s market in the coming years.
The polyvinyl alcohol (PVA) market is supported by key players such as Anhui Wanwei Group, Astrra Chemicals, Chang Chun Group, Japan Vam & Poval Co. Ltd, Kemipex, Kuraray Europe GmbH, Merck KGaA, Mitsubishi Chemical Corporation, Polysciences Inc., Sekisui Chemical Co. Ltd, and SNP Inc.
https://www.knowledge-sourcing.com/resources/wp-content/uploads/2024/10/polyvinyl-alcohol-PVA-market.webp5191000Gaurav Singhhttps://www.knowledge-sourcing.com/resources/wp-content/uploads/2023/02/Printable-Resolution-big-300x78.pngGaurav Singh2024-10-17 05:24:532024-10-17 05:33:27Polyvinyl Alcohol (PVA) Market is projected to grow at a CAGR of 3.89%
A position sensor is a type of electronic sensor that is used to detect the position of any object. The position sensors offer the user a wide range of applications, which include usage in structural testing, automotive testing, throttle sensing, mechanical arm positioning, and factory automation, among many others. The position sensor includes multiple key benefits, as it helps in facilitating contact-free monitoring or measurement of any objects, and it can also provide location and displacement information of an object in linear travel.
A position sensor offers multiple key benefits and applications in the global robotics market. A position sensor’s key role in the robotics sector is to detect and monitor the position of the arms of the robots, and it is also used to accurately and efficiently perform various types of motions required by the robots. These sensors also help to detect the presence of a target or an object, which the robot can further encode or counteract its functions.
There are three different types of position sensors available in the global market which are linear, angular, and rotary position sensors. The linear position sensors are mainly used to measure the position of any object in a linear or straight path. The linear position sensor is commonly used as a proximity sensor, in the robotics industry, to detect the presence of any object in the path of the robots. Similarly, the angular position sensor is used to measure the relative angle of any object, which is commonly used across the automotive industry to measure the position of the throttle, steering wheel, and other systems. In the robotics sector, angular position sensors play a critical role in controlling dampers and valves. A rotary position sensor is a type of position sensor that is used to measure the displacement of any object. In the robotics sector, the angular position sensor is commonly used to monitor the brushless motors of the robots.
In the global robotics market, the position sensor is set to play a critical role in its efficient development and deployment. In the robotics sector, position sensors are normally used to measure the position of the joints or other parts of the robots.
Increasing Installation of Industrial Robots
A major factor, that is attributing to the growth of the position sensor in the global robotics market is the increased use of robotics in industrial automation settings. In industrial robots, position acts as a critical component, to maintain the efficiency and optimum performance of these robots. In industrial robots, the positions sensor helps to detect the position of the arms, and equipment essentials in the industrial settings.
The International Federation of Robotics, in the global Industrial Robots report of 2023, stated that the installation of industrial robots across the globe witnessed a massive increase in the past few years. The organization stated that in the global industrial robots installation, the Asia/Australia region occupies the majority of the market share, followed by the European and American regions. The agency stated that in 2021, a total of 52 thousand units of industrial robots were installed in the Americas region, whereas about 82 thousand units were installed in the European region. In 2022, the total installation of industrial robots increased to 56 thousand units in the Americas region and 84 thousand units in the European region. In the Asia/Australia region, about 385 thousand units of industrial robots were installed in 2021, which increased to 405 thousand units in 2022.
Figure 1: Installation of Industrial Robots, by Region, in Thousand Units, 2021 and 2022
Source: International Federation of Robotics
Increasing investments in the global robotics industry
A major factor that is forecasted to grow the global market of position sensors in the robotics industry is the increasing investments in the robotics sector across the world. Various companies, like China, Japan, India, the USA, Canada, and Germany, have introduced multiple policies and investment opportunities, which are targeted at developing the industrial and consumer robotics sector in these nations. The countries also introduced key policies, which are aimed at luring industry giants, like Mitsubishi, Toyota, and others, to establish their research and development centers in their nations.
For instance, in India, the Government introduced its Draft National Strategy on Robotics, which is aimed at developing robotics automation in the industrial and manufacturing sectors of the nation. Through this strategy, the government aims to identify and prioritize four major sectors in the nation, which are manufacturing, agriculture, healthcare, and national security, and offer subsidies to boost the robotics automation in these sectors. Furthermore, the nation also witnessed new investments in the robotics sector, which included a US$ 3 million investment by General Autonomy, for developing AI-powered robots for the manufacturing sector, and investments by XMACHINES for developing mobile autonomous robots for indoor and outdoor applications.. India ranks seventh in the global annual robot installation. The International Federation of Robotics, in its press release, stated that the nation’s annual installation surged by 59% in 2023. The organization stated that in 2023, a total of about 8,510 units of robotics were installed in the nation, which increased from about 5,353 units installed in 2022.
Similarly, the investments in the robotics sector by the Japanese Government also increased substantially in the past few years. The International Federation of Robotics, in its press release, stated that in Japan, about 435,000 robots are working in the factories. Although the annual installation of robots in the nation dropped by 5% in 2023, with total annual robotics installation accounting for only 46,106 units, Japan is the second biggest user and installer of robotics in the world. The GITAI also invested about US$47.566 million in the nation to develop remotely controlled robots, which are aimed at supporting astronauts’ operations in space stations.
Key Developments
In October 2023, Renesas Electronics Corporation, a global electrical equipment manufacturer, announced the successful development of a cost-effective and highly accurate motor position sensing technology, which can offer applications across multiple industries, like automotive, industrial, robots, and IoT. This new position sensor developed by the company offers an accuracy of up to 14 bits, with a rotational speed of 600krpm (electrical).
In conclusion, position sensor technology offers key applications in the global robotics market, as these sensors help to accurately and efficiently measure the position of different components and objects, enhancing the performance of the robots.
https://www.knowledge-sourcing.com/resources/wp-content/uploads/2024/10/Position-Sensors-market.webp5191000Gaurav Singhhttps://www.knowledge-sourcing.com/resources/wp-content/uploads/2023/02/Printable-Resolution-big-300x78.pngGaurav Singh2024-10-16 06:39:512025-05-14 08:40:08Position Sensors in Robotics: Boosting Efficiency and Accuracy in Automation
Artificial sweetener is a type of chemically produced, synthetic non-caloric sweetener, that provides a strong sweetening flavor, and lower or no calories. This type of sweetener is majorly found in various types of food and beverage products, like soft drinks, sugar-free candies, dairy products, and low-calorie snacks. Artificial sweeteners offer multiple benefits as compared to natural sugar when consumed in limited quantities. There are various types of artificial sweeteners available and allowed across the globe, which include aspartame, advantame, cyclamate, sucralose, and neotame.
Artificial sugars help in diabetes management, as these types of sugars don’t raise the blood sugar level, as of its lower or no calories, and they also help in weight loss and diet management. The artificial sweetener does not contain any calories or carbohydrates, which benefits the management of diabetes. Similarly, the use of artificial sugars or sweeteners also prevents tooth decay. The absence of fermentable carbohydrates from the artificial sweeteners results in fewer harmful bacteria formation in the mouth, and prevents the enamel breakdown.
Apart from the advantages, artificial sweeteners also include multiple disadvantages, like they can alter the sense of taste. Additionally, the long-term use of artificial sweeteners can also lead to glucose intolerance by the body, altering the gut microbiome. The consumption of artificial sugar can also cause bloating of the body, and can also lead to diarrhea.
Use Case:
The artificial sweeteners are most commonly used across the food and beverage industry. Artificial sweeteners also play a major role in the global pharmaceutical sector. In the food and beverage industry, saccharin, aspartame, and acesulfame potassium are among the most common artificial sweeteners used in various types of foods, jams, soft drinks, dairy products, puddings, and candies.
Saccharin is considered the oldest non-nutritive form of artificial sweeteners. Similarly, aspartame is a dipeptide methyl easter and is commonly used as a tabletop sweetener. In the pharmaceutical sector, aspartame is commonly used as an excipient in the formulation of liquid pharmaceutical products. Aspartame is mainly used to improve the taste of unpleasant drugs. Similarly, sucralose is also used in the formulation of various types of drugs, as an excipient.
Artificial sweeteners play an important role in the global health-conscious food products market, as they offer multiple health advantages compared to the natural form of sugar or sweetener. Some of the key drivers that are estimated to increase the usage of artificial sweeteners in the globe are as follows:
Increasing Global Diabetes Cases.
One of the key factors that is estimated to boost the global demand for artificial sweeteners across the world is the increasing global cases of diabetes. The global cases of diabetes grew significantly, majorly with the rise of the unhealthier lifestyle of the population. With the rise of diabetes cases around the world, the demand for artificial sweeteners is expected to grow significantly, as the consumption of these sweeteners does not increase blood sugar levels.
The Center for Disease Control and Prevention (CDC) of the US government in its National Diabetes Statistics Report, published in May 2024, stated that the prevalence of diabetes in the nation’s population increased significantly. The agency stated that, nearly 38.4 million, which is about 11.6% of the nation’s total population have diabetes, out of which about 29.7 million are diagnosed, and about 8.7 million people are undiagnosed. Similarly, about 97.6 million of the nation’s population aged 18 or above have prediabetes, which is about 38% of the total adult population. Nearly 48.8% of the population of the nation above the age of 65 years, or about 27.2 million people have prediabetes.
Similarly, the International Diabetes Federation, in its report stated that globally, the Western Pacific region occupies the top position in the total cases of diabetes. The Western Pacific region accounted for about 205,640 thousand people with diabetes, followed by China, which accounted for about 140.869 thousand, and South-East Asia accounting for 90.204 thousand people with diabetes.
Figure 1: People With Diabetes, by Region, in Thousand, 2021
Source: International Diabetes Federation
Key Developments
In November 2022, Tate & Lyle PLC (Tate & Lyle) launched ERYTESSE Erythritol, which expands the company’s sweeteners portfolio. The new sweetener has about 70% sweetness of sucrose and offers zero calories. The company stated that its new sweetener can be used across a wide range of product categories, like beverages, dairy, bakery, and confectionaries.
In conclusion, artificial sweeteners are sure to offer key applications in the global health-conscious market, as these types of sweeteners help consumers with multiple usages, like weight management, diabetes control, and improving dental health. Artificial sweeteners are also used in various types of pharmaceutical products, mainly to improve the taste of the drugs.
https://www.knowledge-sourcing.com/resources/wp-content/uploads/2024/10/artificial-sweetener-market.webp5191000Gaurav Singhhttps://www.knowledge-sourcing.com/resources/wp-content/uploads/2023/02/Printable-Resolution-big-300x78.pngGaurav Singh2024-10-15 05:59:392024-10-15 06:28:54How Health Consciousness is Shaping the Future of Artificial Sweeteners
Lithium, with an atomic number of 3, is a highly versatile element widely used in industries such as aerospace and energy storage. It plays a crucial role in the production of aircraft and is a key component in batteries. As the global shift toward sustainable energy continues, the demand for electric vehicles (EVs) is rising, driving a significant increase in the need for lithium and related products. According to the World Economic Forum, global lithium production exceeded 100,000 tonnes in 2021—four times the amount produced in 2010. Remarkably, around 90% of this output came from just three countries, emphasizing the dominance of a few nations in the global lithium market. As lithium becomes increasingly vital for clean energy technologies, understanding where it comes from is essential. Explore the Top 10 Lithium-Producing Countries to learn which nations are leading the way in meeting this growing demand and shaping the future of energy.
Table 1: Lithium-producing Countries, Production In Tonnes, 2021
Rank
Country
2021 Production (tonnes)
% of Total
#1
Australia
55,416
52%
#2
Chile
26,000
25%
#3
China
14,000
13%
#4
Argentina
5,967
6%
#5
Brazil
1,500
1%
#6
Zimbabwe
1,200
1%
#7
Portugal
900
1%
#8
United States
900
1%
Rest of the World
102
0.1%
Total
105,984
100%
Source: World Economic Forum
Australia accounts for over 50% of global lithium production, primarily through hard-rock mining of spodumene, unlike Chile, where lithium is extracted from brines.
China, the third-largest lithium producer, plays a significant role in the industry. Over the past decade, Chinese companies have invested more than $5.6 billion in lithium assets across countries like Chile, Canada, and Australia, while also developing domestic mines. The World Economic Forum reports that China controls 60% of the world’s lithium refining capacity.
The lithium triangle, spanning Chile, Bolivia, and Argentina across 400,000 km², holds about 60% of the world’s known lithium deposits, often called “white gold” in the industry, according to the US Geological Survey. This makes the region a focal point for investors eyeing future opportunities, particularly in Chile.
Australia
Australia is in the fortunate situation of possessing significant hard rock lithium deposits. This resource is easily accessible thanks to well-established mining technology, which an established, competent, and effective mining sector in Australia has already applied in other mining applications.
Few regulatory measures and incentives support the lithium value chain as the country debates its energy strategy for future decades. In the ACT and Victoria, there is some limited assistance for the purchase of EVs; nevertheless, in most situations, the policy settings do not directly support generating consumer demand for either stationary energy storage or transportation. Australian governments have historically contributed significantly to the construction of gas pipelines, from the earliest days of infrastructure development with the poles and wires through the Snowy Hydro program.
Recent demonstrations from the Queensland University of Technology reveal the prototype for an Australian battery cell manufacturing process that is reasonably inexpensive. Other lithium-based technological advancements (like 24-M) exhibit extremely noticeable cost/performance advantages with noticeably reduced entry-level capital costs. Therefore, it is likely that the price of producing batteries might drop by a huge amount.
According to the Australian Bureau of Statistics, lithium exports increased by $2,318 million (737%) from the June quarter of 2022 to $2,632 million for June 2022. Since January 2021, Western Australia has contributed more than 99% of Australia’s lithium exports monthly.
Exports Of Lithium Concentrates In Australia, In US$ Million
Source: Australian Bureau of Statistics
Lithium is mostly found in brines and spodumene deposits in hard rock. The world’s biggest brine resource is located in northern Chile’s Salar de Atacama, and Australia produces 60% of the world’s lithium from spodumene, the largest spodumene producer. The output of spodumene lithium mines in Australia is also rising. Eastern Resources (EFE), a mineral explorer, revealed a new lithium finding at its Trigg Hill property in Western Australia’s East Pilbara this year. EFE conducted a preliminary soil sample program in April and May as part of its first evaluation, and it later said that the survey had yielded “significant” lithium soil readings.
The Pilgangoora lithium mine, whose orebody has one of the greatest lithium reserves in the world, is about 75 kilometers southeast of the EFE project, which may expand on the region’s history of robust lithium production. There are currently several active lithium mines in Australia. These include the Greenbushes mine, the world’s largest working lithium mine, which is anticipated to generate more than 160,000 tonnes annually after ongoing expansions are finished. Another significant Australian mine is the Mount Marion lithium project run by the ASX-listed Mineral Resources in the Yilgarn Craton.
Key Developments in Australia
In August 2022, Alkem recorded a sales increase of 800% to US$770 million, making it the company’s first profitable year since the merger. As a result, Allkem’s stock price has increased by 50.55% in a year and 31.44% in 2022.
In July 2022, Pilbara contributed AU$205,000 to the project, including AU$50 million in pre-investment financing to help with the P1000 expansion, which is the anticipated next phase and aims to increase production capacity to up to 1 million tonnes annually.
In May 2022, Australia’s first lithium hydroxide processing facility opened at Kwinana, located around 30 minutes south of Perth.
Chile
Chile is expanding swiftly in a world where battery materials are in high demand. The Salar Flat of Atacama is home to most of the nation’s lithium deposits, which, together with Australia, put Chile in a prominent position in the white gold market. Lithium extraction activities in the country continue to be dominated by Albemarle Corp., located in Charlotte, North Carolina, and Sociedad Qumica y Minera de Chile SA, also known as SQM, in Santiago, Chile. This reflects the nation’s historically cautious method of selling operating licenses at auction, which the Boric government has firmly established.
In Chile, NRGI (National Resource Governance Institute) is beginning to conduct a project on lithium governance. This project’s overarching goal is to enhance lithium governance’s aspects of economic and climate justice for the benefit of all Chileans. The specific objectives are to increase transparency and adopt international standards in the governance of Chile’s lithium industry, advance development strategies for subnational producing regions, integrate socio-environmental concerns of lithium-producing areas into policy decisions, and draw lessons from Chile’s experiences for Latin American discussions and regional cooperation on lithium.
In March 2023, the national lithium strategy, which will be announced this year, will continue to follow the government’s plan, according to Chile’s mining minister, Marcela Hernando. In addition, the government is coordinating a dialogue to develop a national lithium business as it prepares for challenging legislative discussions. The draft policy calls for consultations with indigenous groups, legislators, and others.
According to estimates by the Ministry of Foreign Affairs, from 2011 to 2020, lithium mining production in Chile. Around 18,000 metric tonnes of lithium were produced in Chile in 2020.
Lithium Production In Chile, In Metric Tonnes
Source: Ministry of Foreign Affairs
The greatest lithium producer in the world, the Salar de Atacama is a 3,000 km2 desert salt basin in northern Chile. Lithium is extracted from this brine by Sociedad Quimica y Minera (SQM) and Rockwood Holdings Inc. SQM has two operations in the nucleus and a claim over 820 km2 in size. At the moment, its South-Western business produces lithium. A portion of Rockwood’s activity in the southeast, which covers a claim area of roughly 137 km2, is dedicated to lithium extraction. A 100 km2 buffer zone separates the claims of the two businesses.
The Atacama desert salt flat, near Chile’s borders with Argentina and Bolivia, has historically hosted most of the country’s lithium production, but its resources are running out. Mining corporations are now keen to exploit the much smaller Maricunga salt flat, located approximately 100 miles northeast of Copiapó, as the demand for lithium continues to soar worldwide. Together with other members of the Observatorio Plurinacional de Salares Andinos (OPSAL) network, Rivera and Muoz are adamant about stopping it.
Key Developments in Chile
In February 2023, following the sale of Chengze Lithium International Limited’s (“Chengze”) 19.35% ownership investment in Lithium Chile to Gator Capital Ltd. (“Gator”), Lithium Chile Inc. (“Lithium Chile” or the “Company”) is pleased to announce the addition of a sizeable new shareholder.
In May 2022, major lithium producer SQM from Chile announced a nearly twelve-fold increase in quarterly earnings due to rising pricing for the metal used in electric-vehicle batteries.
China
China is a significant example of how lithium geopolitics may have increased state interdependence in renewable energy production while conversely creating new (inter)dependencies and conflict prospects. Therefore, this hybrid form of energy geopolitics requires that traditional explanations for energy security be updated to reflect these unique market circumstances.
China is a prime example for studying the geopolitics of lithium. According to Benchmark Mineral Intelligence 2020, Chinese firms manufacture 70% of Li-ion batteries and produce 50% of the world’s lithium. The US and Europe haven’t done much to counteract this supremacy up until lately. Despite the trade war, there hasn’t been any direct dispute over access to lithium resources between China and other major countries or between China and the major production states. China has mostly pursued interdependence in trade with other nations, but it has also established new interdependencies regarding technological advancement and superiority. Such an emphasis on China reflects its expanding market dominance, which might lead to new disputes and challenges to existing international norms under the discussion of an alternative system.
According to USGS estimates, China has a lithium deposit of 5.4 metric tonnes, accounting for an estimated 13% of the world’s total lithium reserves. Furthermore, 85% of China’s industrial lithium deposits are in lithium brines4. Salt lakes are mostly found in northwest China in Tibet, Xinjiang, Qinghai, and Inner Mongolia. The two primary brine kinds are carbonate and sulfate. The carbonate lithium deposits are mostly concentrated in the Dongtai and Xitai Ji Nai’er Lakes in Qinghai and Zabuye Salt Lake in western Tibet. The research, development, manufacture, and sales of thoroughly processed lithium goods are the main business activities of Ganfeng Lithium Group. This Chinese corporation has made significant progress in adopting a greener supply chain.
To provide supply security, the Chinese government regulates resource prices and investment (Economy and Levi 2014). It develops sustainable and all-encompassing strategies to advise the Chinese government on critical minerals, including lithium and Li-ion batteries. Three of the most recent 5-year plans—2011-2015 (CNPC 2011), 2016-2020, and 2021–2026 (CSET 2020)—strongly focused on rare earth minerals, environmental conservation, and energy efficiency. The policies and choices made by Chinese businesses in support of Chinese dominance in the global lithium and Li-ion battery sector also find an echo in society.
Lithium Mine Production In China, 2020-2021
Source: US Geological Survey
Key Developments in China
In June 2023, the Sinomine resource group of China purchased Zimbabwe’s Bikita Minerals in January, making it the continent’s only lithium producer as of 2021. According to a statement released on July 14 by the government-owned engineering firm PowerChina, the corporation intends to increase output to five million tonnes of lithium annually.
In March 2023, following the conclusion of an offtake agreement with Suzhou TA&A, Premier African Minerals, located in Togo, declared that it would begin transporting spodumene concentrate from its Zulu lithium mine in Zimbabwe to China by March 2023.
Brazil
Brazil has relaxed its lithium export regulations to take advantage of the rising worldwide demand for the metal used in electric car batteries and establish itself as a major supplier of the metal. A news agency reported Brazilian Mines and Energy Minister Adolfo Sachsida stating that the new regulation will draw investments into the Brazilian lithium sector from nations in Eastern Europe and Asia.
Brazil recently issued an executive order to do away with the need for lithium exports from the nation to be approved by the nuclear energy committee of the Science and Technology Ministry. Instead, the Brazilian government declared it would permit unlimited overseas commerce of lithium minerals, ores, and their derivatives via a Government Decree issued by the Ministry for Mines and Energy (Ministerio de Minas e Energia). The regulation change did not immediately impact Oceana because the business is only beginning its exploration at Solonopole. However, it did convey a clear message regarding the government’s support for the nation’s upstream project development and future lithium exploration.
Brazilian output is solely derived from pegmatite deposits in the eastern portion of the Brazilian shield, mostly in the northern Minas Gerais State area of Araçuai-Itinga. The known lithium pegmatite deposits are not thoroughly quantified. Still, the currently available information suggests that their abundance and geographic location more than makeup for their smaller sizes when compared to larger bodies found at Kings Mountain, Bikita, and other sites. These characteristics increase the likelihood of sizeable deposits, especially petalite, and spodumene. Based on research previously carried out in certain locations, these reserves are at least 25,000 tonnes of lithium.
Furthermore, there is proof that lithium brines can be found in accumulation basins in the Araçuai-Itinga district. Therefore, some Northeastern Brazilian regions could be affected by this. Arqueana de Minerios e Metais is putting together a program of systematic sampling to support this claim.
Lithium Mine Production In Brazil, 2020-2021
Source: US Geological Survey
Brazilian facilities managed by AMG Mineracao, a German company AMG Advanced Metallurgical Group division and local competitor Companhia Brasileira de Litio, manufacture lithium concentrates. Both of these projects are situated in the mining-friendly southern state of Minas Gerais, home to the enormous iron ore mines upon which the successful national mining champion Vale was founded.
The Groto do Cirilo lithium project, also located in Minas Gerais, is being developed by Sigma Lithium Corporation, listed on the TSX and NASDAQ. On the strength of its success with Groto do Cirilo, which may become the fourth-largest lithium mine in the world at peak production, Sigma has expanded into a C$2.1 billion firm. Within the Solonopole landholding, detailed field mapping by Oceana’s Brazilian affiliate Ceara Litio revealed around 17km of outcropping mineralized pegmatites. The in-country team is also doing infill soil geochemistry throughout a 50m by 20m grid as part of mapping these pegmatites.
Key developments in Brazil
In April 2023, According to Sigma Lithium, the Grota do Cirilo project in the state of Minas Gerais will begin commissioning this month to have the product ready for distribution.
In May 2022, The Strategic Mineral Resources Company for the Green Energy Revolution, Brazil Minerals, Inc. (OTC Pink: BMIX) (the “Company” or “Brazil Minerals”), is happy to report that the Brazilian mining department has granted it a new 4,708-acre lithium exploration permit in Minas Gerais, Brazil.
Applications of Lithium-ion
The ultimate applications for lithium are different in 2021 compared to 2010, as electric vehicles (EVs) and lithium-ion batteries revolutionized the lithium demand.
Table 2: End-Use Industry, 2010-2021
End – Use
Lithium Consumption 2010 (%)
Lithium Consumption 2021 (%)
Batteries
23%
74%
Ceramics and glass
31%
14%
Lubricating greases
10%
3%
Air treatment
5%
1%
Continuous casting
4%
2%
Other
27%
6%
Total
100%
100%
Source: World Economic Forum
Glass and ceramics consumed 31% more lithium in 2010 than any other end-use industry. Lithium carbonate improves strength and decreases thermal expansion in ceramic and glass products, frequently necessary for contemporary glass-ceramic cooktops. Along with other less well-known applications, lithium is also used to create lubrication greases for the transportation, steel, and aviation sectors. Furthermore, with the significant industrialization, there has been a major growth in the use of lithium for batteries which was 74%.in 2021.
Although U.S.-based lithium-ion battery production must significantly increase to fulfill the demands of the expanding domestic market, the nation has a solid platform upon which to add more manufacturing capacity. Approximately 8% (or roughly 59 GWh) of the 747 GWh global EV lithium-ion cell production in 2020 was done in the United States. By 2025, 2,492 GWh of EV cells are estimated to be produced globally, with 224 GWh made in the United States. Furthermore, the World Economic Forum expects that by 2025, demand from U.S. passenger EV sales alone will exceed this estimated 224 GWh of lithium-ion cell production capacity.
Cell-manufacturing Capacities (Lithium-ion Megafactory), By Geography, 2020-2025
2020 2025
Source: Department of Energy
Major deposit classes and extractive operations in lithium production.
Only pegmatite deposits are now used to extract lithium. However, hectorite and jadarite may be used in the future. Although it has been shown that geothermal and oilfield brines can also be extracted, they are less common than continental brine deposits.
Pegmatites are classified as igneous rocks, often of granitic composition, that may be identified by their abundance of crystals with skeleton graphics or by their highly coarse but variable grain size, which sets them apart from other volcanic rocks.
Table 3: Key Features Of Lithium Deposit Types
Deposit type
Brief Description
Typical grade
Examples
Minerals
Pegmatites
Common plutonic rock has a varied texture and coarseness and is made up of interlocking crystals with a broad range of sizes.
1.5-4%, Li2o
Australia, North Carolina, USA
Hectorite
Hectorite occurs with bentonite as an alteration byproduct of clinoptilolite from volcanic ash and tuff with a high glass concentration.
0.4%, Li2o
Kings Valley, Nevada, USA, México
Jadarite
A white, earthy monoclinic silicate mineral called jadarite is composed of sodium lithium boron silicate hydroxide.
1.5%, Li2o
Jadar, Serbia
Brines
Continental
Salt pans or salars in enclosed basins with lithium enrichment
0.04-0.15%, Li2o
USA, Chile, Argentina
Geothermal
Elevated levels of lithium contained in steam at geothermal power stations
0.01-0.035%, Li2o
Slaton Sea area, California, USA
Oilfield
Elevated lithium levels are seen in water or brine
0.01-0.05%, Li2o
Arkansas, USA
A variety of minerals may make up pegmatites. The term “pegmatite” or names with any other plutonic rock type as a prefix are used. Examples are granite pegmatite, gabbro pegmatite, and syenite pegmatite. Granodiorite to granite-type compositions is typical. There may be a lot of large crystals of micas (such as muscovite and lepidolite), potassium feldspar, sodium-rich plagioclase, and quartz. Hectorite clay deposits are uncommon, although they can be produced by at least three geological processes, including modifying volcanic ash or glass, lacustrine water precipitation, or incorporating lithium into pre-existing smectite clay deposits.
The government is initiating various lithium production methods
According to the USGS, a brine project in Nevada produces the sole commercial-scale lithium production in the US (there are also lithium processing plants and a facility for recycling lithium batteries in Lancaster, OH). To help ensure the supply of this vital metal, there is a rising demand to boost local lithium production.
In particular, geothermal brines from the Salton Sea in California and so-called “produced water” from shale gas drilling in Texas present opportunities for direct lithium extraction. In addition, several businesses, particularly in Nevada, are actively researching lithium extraction from lithium-bearing clays. Finally, many other manufacturing techniques are being studied, including acid leaching in sulfuric and hydrochloric acid.
Additionally, many sectors relying on the rare alkali metal are delighted by the recent Geological Survey of India’s (GSI) declaration regarding its early exploration of lithium deposits. The GSI asserts that it has discovered “lithium inferred resources” in the Salal-Haimana region of the Reasi district in Jammu and Kashmir. These resources were calculated based on the surface and samples’ physical and chemical analysis. According to statistics from the Ministry of Commerce and Industries, India spent Rs 163 billion on the purchase of lithium and lithium-ion between April and December of 2022–2023.
Projections of future market growth in top lithium-producing countries.
Currently, the commercial and the national defense markets may be distinguished in the U.S. for lithium-ion batteries or alternative rechargeable battery chemistries. Even though the end-use applications and specifications for various markets vary, they all demand innovation and R&D. For the nation to be economically competitive and secure, successful domestic manufacturing and trustworthy supply chains in both markets are essential.
Annual Sales Of Passenger Evs (Battery Electric Vehicles And Plug-in Hybrid Electric Vehicles), US$ Millions
Source: Department of Energy
Major Companies and their key development in lithium production:
Sociedad Quimica y Minera de Chile (SQM), FMC, and Albemarle formed an oligopoly that produced most of the lithium. SQM, FMC, and Albemarle still produce most of the lithium produced worldwide, although China also contributes significantly. In terms of mine output, it was the third-largest lithium producer in 2022, behind Australia and Chile.
A joint venture between China’s Tianqi Lithium and Australia’s IGO controls the bulk of Australia’s largest lithium mine, Greenbushes. The mine’s operator, Talison Lithium, is 51 percent owned by the joint venture and 49 percent by Albemarle.
Albermarle – One of the biggest lithium manufacturers in the world, Albemarle has 5,000 workers and clients in 100 different nations. In addition to lithium, Albemarle also manufactures bromine and offers chemical services and refining solutions to pharmaceutical companies.
In February 2023, Albemarle increased its investment in Kemerton I and II to 85%, while MinRes increased its interest in the Wodgina mine to 50% as part of the joint venture’s reorganization, which the firms announced.
In November 2022, Guangxi Tianyuan New Energy Materials, whose facilities include the Quinzhou lithium conversion facility, which can convert 25,000 metric tonnes (MT) of lithium carbonate equivalent annually, and the Meishan plant, which is expected to be operational by the end of 2024 and have a capacity of 50,000 MT annually, were acquired by the company.
SQM – SQM (Sociedad Quimica y Minera de Chile) has offices in more than 20 countries and clients in 110 countries. It operates in five business sectors, from lithium to potassium to specialized plant nutrition. SQM exceeded expectations by reaching 157,000 MT by the end of 2022 and generating US$8.15 billion in income from lithium and derivatives.
Ganfeng Lithium -Ganfeng Lithium is a prominent producer of lithium in China. It is one of the world’s major producers of lithium metal and the top producer of lithium compounds in China.
In August 2022, the business kept binge buying, again with Argentina in mind. For up to US$962 million, Ganfeng said that it would purchase Lithea, a private firm that holds the rights to two lithium salt lakes in Salta province.
Tianqi Lithium – The largest hard-rock lithium producer in the world is Tianqi Lithium, a division of the Chinese company Chengdu Tianqi Industry Group. The business owns holdings in China, Australia, and Chile.
In July 2022, the business raised around US$1.7 billion for its initial public offering in Hong Kong. Commercial production at Kwinana started in December 2022 with the facility’s Train 1; Train 2 is anticipated to be serviced in 2024.
https://www.knowledge-sourcing.com/resources/wp-content/uploads/2023/04/Lithium.jpg5191000Gaurav Singhhttps://www.knowledge-sourcing.com/resources/wp-content/uploads/2023/02/Printable-Resolution-big-300x78.pngGaurav Singh2024-10-11 11:35:012025-05-02 09:36:24The Top 10 Lithium-Producing Countries
Vehicle-to-grid (V2G) is a technology that provides electric vehicles (EVs) to form a two-way association with the public power grid. The innovation of V2G makes it possible for EVs to not only utilize electricity from the grid but also recharge the framework in case power is abundant within the vehicle’s batteries or in case there is high energy demand. The increment in sales of EVs around the world is projected to be a considerable factor in the development of the vehicle-to-grid (V2G) market.
Besides, the V2G innovation incorporates many benefits for the end users. This is often made possible by the fact that the EVs and the power grid have a bidirectional energy stream. The shift towards EVs is gaining force around the world primarily since it helps decrease carbon emissions. It is, subsequently, not surprising that the developing popularity of EVs and EV-oriented innovations is anticipated to fuel the development of the V2G sector in the coming years.
In its report on the trends in EVs globally, the International Energy Agency (IEA), an international organization reported that the sales of electric cars in different countries for instance, developed countries like China were very high, selling an estimated figure of 6 million cars in 2022 which increased to 8.1 million sales value in 2023 and up to 10.1 million sales in 2024. In the same vein, in 2022, the number of electric cars sold in Europe and the USA was about 2.7 million and 1 million respectively, which increased to 3.2 million and 1.4 million sold in 2023 in Europe and the USA respectively. In 2024, about 3.4 million total EV sales were recorded in Europe while in the USA about 1.7 million.
Additionally, in various countries, governments advocate for the deployment of V2G and its associated technologies in the existing energy grid through incentives, regulatory policies, and investments. Smart grid systems and advanced metering infrastructures are being built to facilitate such usage. For instance, the funded project by the UK government known as Vehicle to Grid Britain (V2GB) strives to find out the relationship between the geographic spread of EVs and V2G technologies which needs many battery units of electric cars to support the energy system in the UK. Emphasis is placed on key aspects such as the possible revenue generation of over £400 per year from a 7kW V2G residential charge point, prices reducing to below £1000 by 2030 to remain competitive, and cost benefits of £200million for investment in cumulative distribution networks and £40-90 million annually in GB by the year 2030.
There is a growing acceptance of V2G technology in the world, and this technology enables vehicle owners to earn passive income from electric companies, while power companies utilize energy from the batteries of EVs during demand time to avoid power deficits or brownouts. For example, in February 2024, Octopus Energy launched the V2G program known as the Octopus Power Pack, the first of its kind in the United Kingdom that comes with free electric car charging for drivers. The initiative is intended to speed up the transition of the nation to green transport and an average user of electric cars saves over 850 yearly on this service in comparison to a normal variable tariff.
Figure 1: Increase in Sales of Electric Cars in the World, in Million, in 2022-2024
Source: International Energy Agency (IEA)
In addition, it is estimated that the Asia Pacific region will have a substantial share in the V2G market enfolding EVs in grid stabilization, which will primarily be due to increasing government policies and funding on EVs and V2G implementation. The emerging Asia Pacific region incorporates one of the largest and the most growing EV markets in the world with several developed and developing countries such as China, India, Japan, Vietnam, and Malaysia, and several others witnessing development in the EV industry which has resulted in increased energy and power demand in the region.
The Asia Pacific region is ranked among the largest regions carrying out vehicle electrification at the global scale with a large portion of EVs manufactured and consumed from Asia commencing with China, followed by India and Japan. Development of important networks necessary for the functioning of EVs is witnessed in these countries which is further expected to accelerate several EV-centric technologies such as V2G, V2H, and V2X. According to the Malaysian Green Technology and Climate Change Corporation, total sales of electric vehicles in Malaysia increased in 2023 reaching a growth of around 286% when compared to 2022. The number of EVs that were registered and sold in Malaysia in 2023 was approximately 10,159 vehicles, while it was only 2,631 vehicles that were sold back in 2022. Also, the International Trade Administration of the USA stated that the number of registered EVs in Taiwan increased from about 7,064 in 2021 to 16,106 in the year 2022. Moreover, this organization indicated that in 2022, approximately 3.4% of all new vehicle registrations in the country were for EV passenger cars.
Key Developments:
Year
Development
November 2024
Nuvve Holding Corp. partnered with Las Cruces Public Schools in New Mexico and successfully commenced the deployment of its first-ever electric school buses with vehicle-to-grid connection (V2G) technology. The development is a big step towards growing the EVs in schools with the assistance of Nuvve and their platform is even due for rapid growth in the transport sector electrification.
June 2024
Toyota and Pepco conducted studies on V2G systems for battery electric vehicles (BEVs) in Maryland. The partnership focused on bidirectional charged power generated technology with redistributive capabilities that allow charging of the BEV and even provision of electric power back to the grid. This enhances energy reliability, and resilience, assists in better integration of renewables, and even helps in lowering energy tariffs. The partnership also focused on consumers’ EV ownership and use with the intent of encouraging the installation of V2G systems.
May 2024
Tata Power Delhi Distribution Limited, a prominent power utility in North Delhi, entered into a Memorandum of Understanding (MoU) with the India Smart Grid Forum for setting up a V2G Technology Demonstration Project. The purpose of the pilot project is to demonstrate the key components in the operation of EVs with the grid, to promote low-carbon transportation and energy systems.
November 2023
Blink Charging UK unveiled the new EQ 200 advanced charger technology set to be used in the UK and Ireland. EQ 200 is a V2G-enabled scalable bi-directional charging solution intended to facilitate the establishment of a robust EV charging ecosystem and bridge the gap between fixed charging and more active, renewable energy management. It consists of Bluetooth, Wi-Fi, and Ethernet connection, as well as 2G and 4G enabled to communicate with load balancing systems and intelligent energy management systems enabling the V2G and VTX, where the vehicle can communicate with everything.
https://www.knowledge-sourcing.com/resources/wp-content/uploads/2024/10/Vehicle-To-Grid-V2G-market.webp5191000Gaurav Singhhttps://www.knowledge-sourcing.com/resources/wp-content/uploads/2023/02/Printable-Resolution-big-300x78.pngGaurav Singh2024-10-11 09:44:372024-10-11 10:05:16The Role of Electric Vehicles in Grid Stability: A Deep Dive into the V2G Market
The global radar sensor market is expected to grow at a CAGR of 17.51% during the forecasted period, with a market valuation of US$13.627 billion in 2021 and is expected to reach US$30.536 billion by 2029.
The increasing adoption within the aerospace and defence industry, coupled with heightened investments in the United States Air Force, are key factors propelling the radar sensor market forward.
As per the report, the radar sensor market is expected to grow significantly.
Radar sensors are extensively employed for their capacity to identify, pinpoint, and monitor objects, rendering them indispensable elements in various sectors including automotive, aerospace, defence, and industrial, among others. A primary driver of growth in the worldwide radar sensor market is the rising need for advanced driver assistance systems (ADAS) and self-driving vehicles within the automotive industry. Radar sensors are crucial in guaranteeing vehicle safety by facilitating functions such as adaptive cruise control, collision avoidance, and parking assistance. In June 2023, SICK unveiled the RMS3xx radar sensor, which combines SICK’s cutting-edge radar technology with dependable hardware and efficient software.
The radar sensor market can be segmented based on the type of radar system it encompasses, which includes bistatic radar, continuous wave radar, instrumentation radar, and weather radar. Bistatic radar systems utilize separate transmitting and receiving antennas, providing distinct advantages in terms of stealth detection and target identification. Continuous wave radar systems operate by emitting a continuous signal, offering high accuracy and sensitivity, making them suitable for applications such as speed measurement and distance sensing. Instrumentation radar systems are designed for precise measurements in various fields, including aerospace, meteorology, and industrial applications, offering advanced capabilities for monitoring and analysis. Weather radar systems specialize in detecting and tracking weather phenomena such as precipitation, storms, and atmospheric conditions, providing critical data for meteorological forecasting and disaster management. These diverse types of radar systems cater to a wide range of applications across industries, contributing to the overall growth and innovation within the radar sensor market.
The radar sensor market can be delineated based on its application across various sectors, including automotive, aerospace and defense, security and surveillance, and industrial domains. In the automotive sector, radar sensors play a pivotal role in advanced driver assistance systems (ADAS), enabling features like adaptive cruise control, collision avoidance, and autonomous emergency braking. In aerospace and defense, radar sensors are extensively utilized for surveillance, target detection, and navigation purposes, enhancing situational awareness and ensuring mission success. The security and surveillance industry relies on radar sensors for perimeter monitoring, intruder detection, and border surveillance, providing reliable and effective surveillance solutions in both civilian and military contexts. In the industrial sector, radar sensors find applications in areas such as object detection, level measurement, and motion sensing, facilitating automation, process control, and safety enhancement across manufacturing, logistics, and construction industries. These diverse applications underscore the versatility and significance of radar sensors across multiple sectors, driving their widespread adoption and market growth.
In the United States, the demand for radar sensors is increasing rapidly due to the growing automation, particularly with the advancements in Industry 4.0 and the shift towards autonomous driving. This trend underscores the heightened need for presence and motion detection to enhance safety and control measures. The expansion of the radar sensor market in the country is further fueled by the evolution of 5G and the Internet of Things (IoT), along with the escalating research and development investments in radar technology. In August 2023, RTX announced that the U.S. Air Force would commence testing a new medium-range radar sensor for the National Advanced Surface-to-Air Missile System, following several recent government contracts. With grants totaling $7 million from the Air Force Research Laboratory’s Strategic Development, Planning, and Experimentation Office, as well as the Office of the Secretary of Defense’s Rapid Prototyping Program, RTX aims to advance the development and testing of its GhostEye MR radar.
In a highly competitive market, several companies offer radar sensors, including Geolux d.o.o., Baumer Holding AG, ASTYX GmbH, ZF Friedrichshafen AG, Hans Turck GmbH & Co. KG, HENSOLDT Group, Smart Microwave Sensors GmbH, InnoSenT GmbH, Banner Engineering Corp., and SICK AG.
https://www.knowledge-sourcing.com/resources/wp-content/uploads/2024/02/radar-sensor-market.jpg5191000Gaurav Singhhttps://www.knowledge-sourcing.com/resources/wp-content/uploads/2023/02/Printable-Resolution-big-300x78.pngGaurav Singh2024-10-11 06:15:592024-10-11 10:14:28Radar Sensor Market is estimated to grow at a CAGR of 17.51% to reach US$30.536 billion by 2029
The global baby wipes market is expected to grow at a CAGR of 4.56% during the forecasted period, with a market valuation of US$5.264 billion in 2024, and is expected to reach US$6.577 billion by 2029.
The infant’s delicate skin is generally cleaned with baby wipes. Ingredients of baby products raise parents’ concerns most at the time of their buying. In essence, this helps them prevent their baby from getting a skin infection from potentially dangerous substances. To meet the diverse hygienic needs of their customers, companies are therefore putting a lot of effort into creating wipes with safer formulations and a range of sizes and styles. For additional information, they are developing environmentally friendly packaging for these products to promote environmental sustainability.
Moreover, some producers are seeing consumer preferences as a window of opportunity and have begun to create innovative biodegradable environment-friendly and sustainable products spurred by legal obligations. However, as increasingly more millennial parents are enlightened about the advantages of using natural organic and sustainable wipes; they force producers to meet their demands. For example, BumBoosa Bamboo Baby Wipes are a biobased product that has been certified by the United States Department of Agriculture. Products whose primary ingredients come from renewable plant, animal, marine, or forestry materials are classified as biobased by the USDA. In response to shifting consumer preferences for organic and environmentally friendly products, Bumboosa introduced bamboo wipes for babies that contain botanical ingredients.
Further, the trend of consumers favouring alcohol-free, biodegradable, and environmentally friendly baby wipes without artificial colours, fragrances, or harsh chemicals has encouraged manufacturers to create wipes with a higher percentage of natural ingredients. For instance, the earth-friendly baby wipes company makes earth-friendly aloe vera wipes, which are well-liked by eco-aware consumers and praised for being incredibly calming and mild for newborns due to ingredients like calendula, chamomile, and aloe vera extracts that nourish and maintain healthy skin.
The global baby wipes market, by type, is divided into two types- Dry wipes and wet wipes. Dry wipes can be used for various purposes like body cleansing, diaper changing and feeding. They also come in handy in preventing diaper rash. In addition to that, dry wipes can act as substitutes for tissues, toilet paper and paper towels. Due to adjustments in people’s preferences for baby-care items that are natural, organic and sustainable, producers are engaged in making eco-friendly wet wipes.
Further, the babies are often cleaned with wet wipes while it was diapered. In addition, today’s fast-paced parenthood is expected to expand in this segment due to time constraints. Companies have explored diversification strategies for wet wipes and consumer preferences.
The global baby wipes market, by sales channel, is divided into two types: online and offline. Supermarkets and hypermarkets are large retail formats that provide an assortment of baby care products such as wipes. The large shelf space and different brands and options offered by these shops make it easy for parents to find and purchase baby wipes during their regular shopping. Similarly, these shops serve as one-stop shops where parents can get a variety of products including baby supplies. They also tend to attract price-sensitive consumers by offering competitive prices, discounts, and promotions. In addition, the strategic location and accessibility enable a wider range of consumers to get baby wipes easily. This availability of baby wipes in these stores enhances awareness creation increasing sales as well as meeting the needs of mothers who seek reliable and convenient solutions for taking care of their infants. To help with issues surrounding childcare, this is one place where you can always find those wipes that come in handy when dealing with your little one’s bum.
The global baby wipes market, by end-user, is divided into five types: Aerospace and defence, automotive, marine, oil and gas, and others. In the automotive testing industry, global baby wipes find extensive use in a range of applications, including computer architecture, vehicle thermal control, tyre, engine, and break monitoring, as well as testing of next-generation internal combustion and electric propulsion. And as the industry’s needs grow, so too will the use of these cameras as thermal imaging technology becomes more sophisticated, affordable, and small. New thermal imaging technologies and specifications are being developed, and major players are keeping up the construction of products and solutions to meet the ever-increasing industry needs as the automotive sector continues to grow and change. Using thermal imaging instead of more conventional temperature control devices like thermocouples, IR spot weapons, RTDs, etc. have several advantages.
During the projected timeframe, it is anticipated that the market for global baby wipes will experience remarkable growth within North America. There is a big population of infants and toddlers in North America that brings forth an extensive market for baby care products; consequently, this area has primarily high demand for baby wipes owing to the desire for convenience and hygiene among parents. Moreover, baby wipes are readily available because there are supermarkets, hypermarkets and online retailers within North America. Due to this factor together with North American culture’s overemphasis on cleanliness especially concerning infants and small children, more people want baby wipes now than ever before. Moreover, product development, marketing as well as distribution are supported in North America by some of the key players in the baby care sector.
The research includes several key players from the global baby wipes market, such as Pampers (Procter & Gamble), Himalaya Wellness Company, Mamy Poko Pants (Unicharm Corporation), American Hygienics Corporation, Rockline (United Kingdom), Johnson & Johnson Private Limited, Codi Group, Farlin-Global, Pigeon India, KCWW (Kimberley-Clark) (Huggies), Albaad, and Nölken Hygiene Products GmbH.
The Future of Construction: How Ready-Mix Concrete is Revolutionizing the Industry
Thought ArticlesThe global construction market is expanding and witnessing huge investments complemented by population growth, rapid urbanization, favorable government policies, and more. At the same time, the construction industry is evolving in terms of innovation and efficiency.
Infrastructure development is accelerating across the globe and needs materials that can reduce labor and time while ensuring consistency in quality. Ready-Mix Concrete has changed the way construction companies operate and deliver projects over the last decade.
Ready-Mix Concrete is manufactured in a controlled environment, leading to consistent quality. The main advantage of this is being ready-to-use on arrival at the construction site and in turn, reduced construction time. Thus, making it a more viable and effective alternative to site-mix concrete. Further, in the era of environmental consciousness, Ready-Mix Concrete is witnessing increased adoption as this is a sustainable option with a lesser carbon footprint and wastage.
Advantages Offered by Ready-mix Concrete
Specialized batching plants manufacture Ready-Mix Concrete, a customized product, to meet the demand of the construction industry as per specifications. They mix it in the right proportion to maintain the highest level of quality. Ready-Mix Concrete offers many benefits that site-mix concrete lacks, thus augmenting its demand within the construction sector.
Quality and Consistency: Because specialized batching plants prepare Ready-Mix concrete in a controlled environment where they measure and blend it precisely, the quality and consistency are maintained.
Cost-effectiveness: As Ready-Mix concrete is prepared in huge quantities; there are economies of scale at play. This makes the Ready-Mix concrete companies supply their product at a lower cost than the site-mix concrete cost leading to widespread application across the construction sector.
Versatility and Durability: Ready-Mix concrete can be tailored to meet the specific demand of any project. This provides the necessary strength, durability, and other benefits. This ensures that it can withstand harsh weather conditions and chemical exposure, thus making it a better option for residential, commercial, and industrial construction projects.
Sustainability: Ready-mix concrete production is sustainable. It significantly contributes to the environmental impact of construction projects due to its energy efficiency and reduced carbon emissions. This makes Ready-Mix concrete a perfect product for the construction industry, which has faced continuous criticism from activists who believe that there is a lack of participation from the construction companies due to their lackluster approach toward sustainability.
The increased adoption has also led to the Ready-Mix Concrete manufacturers witnessing consistent revenue growth. One such example is Cemex, one of the major ready-mix concrete companies of Mexico, which generated revenues of $7,116 million in the year 2023 from ready-mix concrete, increasing from $5,732 million in the year 2021, an increase of 24.14%.
Source: Cemex Annual Report
All these advantages, combined with problems associated with on-site concrete preparation, make Ready-Mix Concrete drive the construction industry. The companies are expanding their footprint to tap into the existing opportunities and harness the huge potential coming along with the growth in the construction sector.
The future is the Era of the Green Economy, i.e., Ready-mix Concrete over on-site Concrete
This is the era of environmental consciousness. Industries need to adapt to the changing environment; only then will they be able to survive in the future.
A report by Oxford Economics predicts that the construction industry will reach US$13.9 trillion by 2037 from US$9.7 trillion in 2022, driven by the green economy. This necessitates the construction industry to adapt to sustainable construction practices, allowing the participants to harness future opportunities.
As per International Finance Corporation, a World Bank group, “Construction value chains account for 40% of energy and industrial-related carbon dioxide emissions globally and this contribution can grow significantly with increasing population, rapid urbanization, and rising income level, necessitating the demand for better housing and commercial buildings”. As a result, the construction industry’s meeting the sustainable goals will be pivotal to the climate future of the world.
Carbon emissions can be reduced significantly within the construction industry by adopting new technologies, utilizing sustainable raw materials, and implementing appropriate policies. Governments across the world are formulating stringent rules and regulations to curb the carbon emissions from the construction industry to achieve net-zero carbon emissions by 2050. For example, the United States Environmental Protection Agency announced a grant selection for $160 million to support the shift to cleaner construction materials to reduce climate pollution linked to the production of construction materials and products. Governments across the globe are undertaking similar initiatives. This poses a new challenge for the construction industry as it needs to align itself with the new laws and regulations to continue witnessing growth.
In the European Union (EU), the construction industry accounts for 35% of the EU’s total waste generation. Material extraction, manufacturing of construction products, and construction and renovation of buildings are estimated to contribute 5-12% of total national greenhouse gas emissions. It is estimated that if greater material efficiency were applied, it could result in saving 80% of those greenhouse gas emissions. Thus, the EU has adopted the Construction Products Regulations to require CE marking for all products that fall under the scope of the regulation.
Additionally, India, which has the fastest-growing construction industry, fueled by the Smart City Mission, Bharat Mala project, Sagar Mala project, Pradhan Mantri Awas Yojana, and many more, has seen capital investments grow by 5.2 times (in Rupees) in 2023 compared to 2014. The Indian government has pledged during COP26 to reduce carbon emissions by 1 billion tonnes by 2030, and the construction sector remains the primary focus as it accounts for 17% of the nation’s total greenhouse gas emissions.
The construction industry is growing exponentially, but the highest share of growth lies in the green economy. As per the International Finance Corporation, “Global Domestic and Foreign Private Green Debt Finance for construction Decarbonization has increased 20-fold in the last five years from $15-20 billion in 2017 to around $220 billion in 2021”. The construction industry needs to adopt best practices that would help it reduce its carbon emissions. Ready-Mix Concrete is one of the ways to achieve the above goals, it helps in reducing carbon by reducing wastage during production and saving transportation emissions. Furthermore, evolving technologies like artificial intelligence (AI) and IoT would continue assisting the Ready-Mix Concrete players to have precise control over the production of RMC, leading to greater efficiency and consistency. Thus, Ready-Mix concrete with its new advancements is crucial for the construction industry which is facing challenges due to climate change.
Innovations in the Ready-Mix Concrete Market
With the advancement in technology like Artificial Intelligence and the Internet of Things (IoT), the Ready-Mix Concrete sector is witnessing innovations. Earlier, concrete batching involved a manual process, but with the advent of automated batching systems, computer-controlled algorithms accurately measure and mix the concrete solutions, making the final product more qualitative and consistent.
Digitization and the Internet of Things(IoT) are significantly impacting the Ready-Mix Concrete sector, as sensors and IoT devices monitor and collect data about temperature, slump during mixing, etc., leading to better quality concrete mix. Mobile technology, self-consolidating concrete, and the use of environment-friendly cementitious materials like fly ash, slag, and silica fume help to reduce the carbon footprint.
Thus, advancements and innovations in the Ready-Mix Concrete industry provide numerous benefits, leading to increased efficiency, better quality, enhanced sustainability, and the ability to construct better structures.
Tapping The Huge Potential of the Existing Ready-mix Concrete Market
India has the fastest-growing construction industry.
Active Voice:
Reports by Invest India predict that the Indian construction industry will reach $1.4 trillion by 2025. This growth in the construction industry is driven by its vast population, high rate of urbanization, and increased government spending. For example, per the annual report of 2023-24 released by the Ministry of Road Transport and Highways, Government of India, there was an approximately 4 times increase in government capital expenditure from USD 8.5 billion in 2013-14 to USD 36.0 billion in 2023-24.
Still, India’s Ready-Mix Concrete Market is in its infancy. Developed countries like the USA, use 80 to 85% of cement consumption in the form of Ready-Mix concrete (Source: National Ready Mixed Concrete Association), but the same for India is only 5%. The country still accounts for 80 to 82% of cement consumption as on-site consumption.
Countries like India and similar emerging economies have a huge untapped market for Ready-Mix Concrete. The companies should focus on these markets to maximize their revenues and expand their footprint.
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Degradable Bioplastics Market is expected to grow at a CAGR of 8.5%
Press ReleasesThe global degradable bioplastics market is projected to grow at a CAGR of 8.5% during the forecast period (2024-2029).
A bioplastic is a type of biobased polymer, that is produced using various types of vegetable oil, fats, corn starch, and other forms of carbohydrates. Bioplastics are environmentally friendly products, which are way safer than petroleum-based plastics. The degradable or bio-degradable bioplastic is easily degraded when composted in the ground. The use and production of bioplastic offer numerous benefits to the environment, like it produces lower carbon emissions than regular plastics, whereas it also has an enhanced biodegradability capability, creating less waste in landfills. The bioplastics can also be recycled easily and also improve the product safety.
Bioplastic is one of the most effective replacements for petroleum-based or traditional plastic in the global market. Bioplastic is generally made using starch, which consists of more than half of all bioplastic available in the international market. Globally, Europe is among the biggest producers of starch in the market, producing about 10.5 million tons of starch every year, from their 73 starch production facilities, in 20 EU member states. Europe approximately processes about 24 million tons of agricultural raw materials, like maize, potato, barley, and rice, to produce its starch. Similarly, the USA outputs about US$ 47.50 billion worth of starch, out of which about US$ 1.83 billion worth of starch is being exported to various countries. The increase in starch production is projected to further boost the bioplastic market in the globe.
The degradable bioplastic market is further expected to witness a significant boost in its demand, with the increase in innovation in the industry. For instance, in July 2024, the University of Copenhagen has developed biodegradable plastic from starch of barley blended with the fiber of sugar-beet waste. Similarly, the Balrampur Chini Mill, in February 2024, has invested about about US$ 240 million (INR 2,000 crore) to set-up India’s first ever bioplastic plant. The company aims to produce about 75,000 tons of bioplastic every year from this facility, increasing the market size of the degradable bioplastic in the nation, in in the globe.
The global degradable bioplastics market by application type is segmented into packaging, agriculture, food service, medical & pharmaceutical, and others. The packaging category of the application segment of the global degradable bioplastic market is estimated to attain maximum market share. Under the packaging category, bioplastics are used in multiple industries, like food & beverages, e-commerce, and raw materials, among others. Bioplastic is generally used in every industry that requires the application of petroleum-based plastic for the packaging. The bioplastic material is considered to be a great alternative for petroleum-based plastic material. In the food and beverage industry, bioplastics can be used for packaging and shipping multiple products, as well as it can also be used for the packaging of grains and other agricultural crops. The low weight of the bioplastic can also boost its demand in the packaging industry as an optimum replacement for petroleum-based plastic.
Based on geography, the global degradable bioplastics market is expanding significantly in the Asia-Pacific region, as the region is one of the most affected regions by plastic wastage. The demand for traditional plastic in the region is greater than in all other regions. In the Asia Pacific region, the demand for plastic material has witnessed a constant increase with the increase in the demand for consumable products in the region. Bioplastic has the capability to replace the use of traditional plastic in the region, reducing plastic pollution from the region, and increasing the market size of bioplastic in the globe. The region also has the competence to mass produce bioplastic in the region, as the region is among the biggest producers of all the raw materials required for the production of bioplastics, like vegetable oil or fats, and dairy wastes like polylactic acids, and polyhydroxybutyrate.
The global degradable bioplastics market is supported by key players such as TGP Bioplastics Pvt. Ltd., Green Dot Bioplastics, Ecolastic, Cardia Bioplastics, The Hemp Plastic Company, Biome Bioplastics, Applied Bioplastics, PTT Global Chemical, Shimadzu Corporation, and Danimer Scientific.
View a sample of the report or purchase the complete study at https://www.knowledge-sourcing.com/report/global-degradable-bioplastics-market
This analytics report segments the global degradable bioplastics market as follows:
Segmentation:
Driving Into the Future: The Surge of the Used EV Market
BlogElectric vehicles (EVs), including commercial vehicles, scooters, and cars, are surprisingly unpopular in the used vehicle market. In a few cases, they are often sold for less compared to fossil fuel-powered models. The reason for anticipating this theory revolves around the challenge of precisely determining an EV’s remaining battery life. The remaining battery life is considered a crucial factor determining the EV’s cost, which significantly impacts how much a used EV is worth. With the growing trend of electric vehicles, the market for used EVs is also expected to increase.
In September 2024, the largest electric car market, Tata Motors, joined hands with used car marketplaces to facilitate the resale and exchange of electric vehicle owners who are looking to upgrade their EVs. Tata Motors is said to have the largest car park in the electric vehicles segment in India, with an estimate of around 170,000 units. As a pilot, Tata Motors started working with Spinny, one of the used online car marketplaces.
Used Electric Vehicles (EVs) Market Drivers
The increasing demand for used EVs can be attributed to several factors. The primary reasons are increasing sales of new EV models worldwide, the faster development of the charging infrastructure, and government policies supporting this market. The charging infrastructure is being incorporated into residential buildings, and the number of publicly accessible chargers is increasing to enhance convenience and accessibility.
According to IEA (International Energy Agency), at the end of 2022, there were 2.7 million public charging points worldwide, more than 900,000 of which were installed in 2022. In this regard, globally, more than 600,000 public slow charging points were installed in 2022, out of which 360,000 slow chargers were installed in China, which brought its stock of slow chargers to more than 1 million. By the end of 2022, China was home to more than half of the global slow electric vehicle chargers. On the other hand, Europe ranked second in the case of slow electric vehicle chargers, with 460,000 chargers in 2022, which was a 50% increase as of 2021. In Europe, the Netherlands is leading with 117,000, followed by 74,000 chargers in France and 64,000 in Germany. Furthermore, the slow-charging stock doubled year-on-year in Korea, reaching 184,000 charging points.
Figure 1: Slow Electric Vehicle Chargers in Top Countries, 2022
Source: IEA
The market opportunity revolves around purchasing used electric vehicles at more affordable prices than new models from various online platforms. Buying used EVs would help customers adopt sustainable technologies at much more affordable prices and contribute to reducing carbon emissions. Increased consumer environmental awareness and government incentives for adopting zero-emission vehicles are major factors for the used EV market’s growth.
Increasing Sales of Electric Vehicles
According to the IEA (International Energy Agency), the sale of battery electric vehicles (BEVs) increased from 4.7 million in 2021 to 7.4 million in 2022 and 9.5 million in 2023. On the other hand, battery hybrid electric vehicles (BHEVs) sales were 1.9 million in 2021, 2.9 million in 2022, and 4.3 million in 2023. The demand for BEVs and BHEVs has increased by 102.13% and 126.32%, respectively, from 2021 to 2023. This increase in the sale of new EVs would boost the use and adoption of a sustainable vehicle ecosystem, leading to increased demand for used EVs.
Electric vehicle sales are driven in major regions of the United States, China, Europe, and India. The buying of electric vehicles is driving the demand for EV batteries. According to the International Council on Clean Transportation (ICCT), in the United States, sales of new electric light-duty vehicles reached about 1.4 million in 2023, up from nearly 1 million in 2022.
This is a sales share of about 9%. China remained the world’s largest EV market, with approximately 3 million EVs sold in 2023. This is a 5%-point increase from the previous year. India doubled its sales to 100,000 EVs, reaching 2% of its new LDV sales in 2023. With government backing, growing trends toward electric vehicles, and the application of innovative technologies, the use of EV batteries will increase, as will the expected growth of the recycling of EV batteries.
Electric Vehicle Battery Recycling Market
The EV battery recycling market is a significant factor responsible for driving the used EV market growth. The battery recycling segment in the used EV market is essential as it creates a sustainable environment, thus enhancing the lifecycle of EV batteries and reducing the costs associated with raw materials. Not only this, but the recycling of EV batteries also promotes a circular economy that allows valuable materials such as lithium, cobalt, nickel, and graphite to be recovered and re-used.
The major regions are China, the USA, Europe, and India, where EV sales are significant. The government’s support for the development of recycling plants is a significant reason for the EV battery recycling market’s growth. Technological advances and innovation also play a critical role in the market’s expansion.
Government Policies Supporting Electric Vehicles
Favorable government policies are leading to the adoption of EVs. According to the U.S. Department of Transportation, the U.S. Federal Government set a goal to make half of all new vehicles sold in the U.S. in 2030 zero-emission vehicles and to build a convenient network of more than 500,000 chargers. This will support making EVs accessible to all Americans, aiming towards local and long-distance trips.
According to the Governor of California, an executive order was issued requiring that by 2035, all new car and passenger light truck sales be zero-emission vehicles. This order was issued to move the state further away from its reliance on climate change-causing fossil fuels while retaining and creating jobs and initiating economic growth. As part of this order, the California Air Resources Board developed regulations that mandated that 100% of the in-state sales of new passenger cars and trucks be converted at zero-emission by 2035. This regulation will support achieving at least a 35% reduction in greenhouse gas emissions as well as an 80% improvement in the oxides of nitrogen emissions from cars state-wide.
In India, under the Faster Adoption and Manufacturing of Electric Vehicles (FAME II) scheme, the government formed a national policy relevant to EVs, which was implemented by the Ministry of Heavy Industries for five years with a budget of Rs. 10,000 crores.
Furthermore, the European Union adopted a law in 2023 to make all new cars and vans sold in Europe zero-emission from 2035. In 2023, the most popular alternative to diesel and petrol cars was battery electric vehicles (BEVs), which represented more than 14.6% of all new cars sold in the European Union. Thus, these developments by various governments are the reason for the faster adoption of electric vehicles.
Used EV Market Restraints
The market for used electric vehicles faces challenges that are expected to hinder its growth and adoption. A reasonable amount of the battery resale value concerns arise from the depreciation and residual value of the unit. Unlike traditional internal combustion engine vehicles, which tend to retain their value more effectively, used EVs have seen dramatic drops in resale prices. For instance, the residual value of electric vehicles is declining at a faster rate than that of ICE vehicles. In this regard, a study in the United States found that the average price of a one-to-five-year-old EV decreased to 31.8% year over year, equating to about $14,418. Additionally, in comparison, the average price for similarly aged ICE vehicles fell 3.6%. This depreciation may dissuade potential customers who resent paying for a car which will easily lose value. From the customer’s point of view, the residual will not only be lower than expected but also impact the battery’s longevity and performance. Some consumers are willing to reduce gas consumption and embrace the electric vehicle movement only. Still, they are held back by the uncertainties of owning such automobiles.
Infrastructure and service support scarcity is another major problem confronting the used EV market. Most of the independent garages and workshops are unable or unwilling to service electric vehicles, particularly in rural places. As a result, consumers may become anxious about maintenance and repair options available for purchased used EVs. Charging infrastructure has started developing but is still lacking in some areas, making potential buyers more worried about range anxiety. In the absence of a decent network of charging stations, customers can be wary of buying used EVs since they would expect to face the trouble of locating adequate charging facilities. Tackling these issues requires manufacturers, governments, and service providers to work together to increase consumer confidence through better infrastructure, more detailed information on the total cost of ownership, and innovative approaches to avoid consumer depreciation concerns.
Used Electric Vehicle Market Players
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Polyvinyl Alcohol (PVA) Market is projected to grow at a CAGR of 3.89%
Press ReleasesThe polyvinyl alcohol (PVA) market is expected to grow at a CAGR of 3.89% during the forecast period.
The polyvinyl alcohol (PVA) market is driven by the rising demand for sustainable materials from diverse end-user industries, increasing technological innovations, and changing consumer preferences.
As per the report, the polyvinyl alcohol (PVA) market is expected to grow significantly.
PVA are water-soluble synthetic polymer materials with their properties like film-forming, adhesive, emulsifying, and adhesive properties. They are extensively utilized in a variety of applications in various end-user industries such as agriculture, medicine, consumer goods, and electronics because of their unique characteristics like non-toxic, water-soluble, odorless, biodegradability, and transparency properties. They present strong mechanical strength and environmental benefits making them flexible and durable in employment by multiple industries.
The market is encountering development due to various components, such as an increment in the requirement for biodegradable and water-soluble packaging materials driven by environmental concerns and government support. Moreover, PVA is utilized in water-soluble packaging for pharmaceuticals medicine, and supplements, and medical industries for wound dressings and biodegradable medical gadgets while in agriculture industries for controlled-release fertilizers and seed coatings, advancing effective and maintainable cultivating hones. Further, PVA is being researched for eatable packaging solutions, which can decrease waste produced through packaging within the food industry. Innovative progressions in production and handling have driven superior item quality, expanded productivity, and decreased costs. In addition, the growing inclination of consumers to favor convenience-oriented items, such as water-soluble pods and pouches, will contribute to the expansion of the market during the forecasted period. For example, in February 2023, Mitsubishi Chemical Group planned to set up a new facility at the Okayama Plant to extend production capacity for forte brands of polyvinyl alcohol resin, GOHSENX, and Nichigo G-Polymer, set to start operations in October 2024. Additionally, in February 2022, Bioplastics International developed water-soluble PVA products as a sustainable option in place of plastics intending to decrease ocean and beach pollution.
Based on the grade, the polyvinyl alcohol (PVA) market is categorized into fully hydrolyzed, partially hydrolyzed, sub-partially hydrolyzed, low foaming grades, and other grades (testified grades and fine particle grades). the market is predicted to be majorly influenced by partially hydrolyzed and fully hydrolyzed grades. Partially hydrolyzed grades are utilized majorly in the textile industry for packaging, adhesive, and coating purposes led by the rise in demand for environmentally friendly materials while fully hydrolyzed grades are widely employed in industries like paper, construction, and packaging industries due to increased sustainable material demand, which will fuel the expansion of the market.
The polyvinyl alcohol (PVC) market based on the end-user industry is divided into food packaging, paper manufacturing, construction, electronics, textile manufacturing, and other end-user industries. The two industries food packaging and construction industries are anticipated to significantly contribute to the expansion of the PVC market. PVC is opted for its rigid and ease of maintenance making them a better alternative in infrastructure development like the production of pipes, windows, and flooring while its durability and flexible packaging make it a protective food packaging option.
The polyvinyl alcohol (PVA) market has developed substantially in the Asia Pacific region due to various factors. The region is expected to grow due to the increasing consumer goods industry and rapid industrialization leading to the rise in demand for PVA materials because of their versatile and biodegradable properties. The Asian country’s governments are implementing environmental regulation as well as supportive initiatives that also contribute to the advancement of sustainable materials such as PVA. Moreover, the advancement in innovation by manufacturing companies of PVA to widen its application to diverse industries will also contribute to an increase in the region’s market in the coming years.
The polyvinyl alcohol (PVA) market is supported by key players such as Anhui Wanwei Group, Astrra Chemicals, Chang Chun Group, Japan Vam & Poval Co. Ltd, Kemipex, Kuraray Europe GmbH, Merck KGaA, Mitsubishi Chemical Corporation, Polysciences Inc., Sekisui Chemical Co. Ltd, and SNP Inc.
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This analytics report segments the polyvinyl alcohol (PVA) market on the following basis:
Position Sensors in Robotics: Boosting Efficiency and Accuracy in Automation
Thought ArticlesA position sensor is a type of electronic sensor that is used to detect the position of any object. The position sensors offer the user a wide range of applications, which include usage in structural testing, automotive testing, throttle sensing, mechanical arm positioning, and factory automation, among many others. The position sensor includes multiple key benefits, as it helps in facilitating contact-free monitoring or measurement of any objects, and it can also provide location and displacement information of an object in linear travel.
A position sensor offers multiple key benefits and applications in the global robotics market. A position sensor’s key role in the robotics sector is to detect and monitor the position of the arms of the robots, and it is also used to accurately and efficiently perform various types of motions required by the robots. These sensors also help to detect the presence of a target or an object, which the robot can further encode or counteract its functions.
There are three different types of position sensors available in the global market which are linear, angular, and rotary position sensors. The linear position sensors are mainly used to measure the position of any object in a linear or straight path. The linear position sensor is commonly used as a proximity sensor, in the robotics industry, to detect the presence of any object in the path of the robots. Similarly, the angular position sensor is used to measure the relative angle of any object, which is commonly used across the automotive industry to measure the position of the throttle, steering wheel, and other systems. In the robotics sector, angular position sensors play a critical role in controlling dampers and valves. A rotary position sensor is a type of position sensor that is used to measure the displacement of any object. In the robotics sector, the angular position sensor is commonly used to monitor the brushless motors of the robots.
In the global robotics market, the position sensor is set to play a critical role in its efficient development and deployment. In the robotics sector, position sensors are normally used to measure the position of the joints or other parts of the robots.
Increasing Installation of Industrial Robots
A major factor, that is attributing to the growth of the position sensor in the global robotics market is the increased use of robotics in industrial automation settings. In industrial robots, position acts as a critical component, to maintain the efficiency and optimum performance of these robots. In industrial robots, the positions sensor helps to detect the position of the arms, and equipment essentials in the industrial settings.
The International Federation of Robotics, in the global Industrial Robots report of 2023, stated that the installation of industrial robots across the globe witnessed a massive increase in the past few years. The organization stated that in the global industrial robots installation, the Asia/Australia region occupies the majority of the market share, followed by the European and American regions. The agency stated that in 2021, a total of 52 thousand units of industrial robots were installed in the Americas region, whereas about 82 thousand units were installed in the European region. In 2022, the total installation of industrial robots increased to 56 thousand units in the Americas region and 84 thousand units in the European region. In the Asia/Australia region, about 385 thousand units of industrial robots were installed in 2021, which increased to 405 thousand units in 2022.
Figure 1: Installation of Industrial Robots, by Region, in Thousand Units, 2021 and 2022
Source: International Federation of Robotics
Increasing investments in the global robotics industry
A major factor that is forecasted to grow the global market of position sensors in the robotics industry is the increasing investments in the robotics sector across the world. Various companies, like China, Japan, India, the USA, Canada, and Germany, have introduced multiple policies and investment opportunities, which are targeted at developing the industrial and consumer robotics sector in these nations. The countries also introduced key policies, which are aimed at luring industry giants, like Mitsubishi, Toyota, and others, to establish their research and development centers in their nations.
For instance, in India, the Government introduced its Draft National Strategy on Robotics, which is aimed at developing robotics automation in the industrial and manufacturing sectors of the nation. Through this strategy, the government aims to identify and prioritize four major sectors in the nation, which are manufacturing, agriculture, healthcare, and national security, and offer subsidies to boost the robotics automation in these sectors. Furthermore, the nation also witnessed new investments in the robotics sector, which included a US$ 3 million investment by General Autonomy, for developing AI-powered robots for the manufacturing sector, and investments by XMACHINES for developing mobile autonomous robots for indoor and outdoor applications.. India ranks seventh in the global annual robot installation. The International Federation of Robotics, in its press release, stated that the nation’s annual installation surged by 59% in 2023. The organization stated that in 2023, a total of about 8,510 units of robotics were installed in the nation, which increased from about 5,353 units installed in 2022.
Similarly, the investments in the robotics sector by the Japanese Government also increased substantially in the past few years. The International Federation of Robotics, in its press release, stated that in Japan, about 435,000 robots are working in the factories. Although the annual installation of robots in the nation dropped by 5% in 2023, with total annual robotics installation accounting for only 46,106 units, Japan is the second biggest user and installer of robotics in the world. The GITAI also invested about US$47.566 million in the nation to develop remotely controlled robots, which are aimed at supporting astronauts’ operations in space stations.
Key Developments
In conclusion, position sensor technology offers key applications in the global robotics market, as these sensors help to accurately and efficiently measure the position of different components and objects, enhancing the performance of the robots.
How Health Consciousness is Shaping the Future of Artificial Sweeteners
BlogArtificial sweetener is a type of chemically produced, synthetic non-caloric sweetener, that provides a strong sweetening flavor, and lower or no calories. This type of sweetener is majorly found in various types of food and beverage products, like soft drinks, sugar-free candies, dairy products, and low-calorie snacks. Artificial sweeteners offer multiple benefits as compared to natural sugar when consumed in limited quantities. There are various types of artificial sweeteners available and allowed across the globe, which include aspartame, advantame, cyclamate, sucralose, and neotame.
Artificial sugars help in diabetes management, as these types of sugars don’t raise the blood sugar level, as of its lower or no calories, and they also help in weight loss and diet management. The artificial sweetener does not contain any calories or carbohydrates, which benefits the management of diabetes. Similarly, the use of artificial sugars or sweeteners also prevents tooth decay. The absence of fermentable carbohydrates from the artificial sweeteners results in fewer harmful bacteria formation in the mouth, and prevents the enamel breakdown.
Apart from the advantages, artificial sweeteners also include multiple disadvantages, like they can alter the sense of taste. Additionally, the long-term use of artificial sweeteners can also lead to glucose intolerance by the body, altering the gut microbiome. The consumption of artificial sugar can also cause bloating of the body, and can also lead to diarrhea.
Use Case:
The artificial sweeteners are most commonly used across the food and beverage industry. Artificial sweeteners also play a major role in the global pharmaceutical sector. In the food and beverage industry, saccharin, aspartame, and acesulfame potassium are among the most common artificial sweeteners used in various types of foods, jams, soft drinks, dairy products, puddings, and candies.
Saccharin is considered the oldest non-nutritive form of artificial sweeteners. Similarly, aspartame is a dipeptide methyl easter and is commonly used as a tabletop sweetener. In the pharmaceutical sector, aspartame is commonly used as an excipient in the formulation of liquid pharmaceutical products. Aspartame is mainly used to improve the taste of unpleasant drugs. Similarly, sucralose is also used in the formulation of various types of drugs, as an excipient.
Artificial sweeteners play an important role in the global health-conscious food products market, as they offer multiple health advantages compared to the natural form of sugar or sweetener. Some of the key drivers that are estimated to increase the usage of artificial sweeteners in the globe are as follows:
One of the key factors that is estimated to boost the global demand for artificial sweeteners across the world is the increasing global cases of diabetes. The global cases of diabetes grew significantly, majorly with the rise of the unhealthier lifestyle of the population. With the rise of diabetes cases around the world, the demand for artificial sweeteners is expected to grow significantly, as the consumption of these sweeteners does not increase blood sugar levels.
The Center for Disease Control and Prevention (CDC) of the US government in its National Diabetes Statistics Report, published in May 2024, stated that the prevalence of diabetes in the nation’s population increased significantly. The agency stated that, nearly 38.4 million, which is about 11.6% of the nation’s total population have diabetes, out of which about 29.7 million are diagnosed, and about 8.7 million people are undiagnosed. Similarly, about 97.6 million of the nation’s population aged 18 or above have prediabetes, which is about 38% of the total adult population. Nearly 48.8% of the population of the nation above the age of 65 years, or about 27.2 million people have prediabetes.
Similarly, the International Diabetes Federation, in its report stated that globally, the Western Pacific region occupies the top position in the total cases of diabetes. The Western Pacific region accounted for about 205,640 thousand people with diabetes, followed by China, which accounted for about 140.869 thousand, and South-East Asia accounting for 90.204 thousand people with diabetes.
Figure 1: People With Diabetes, by Region, in Thousand, 2021
Source: International Diabetes Federation
Key Developments
In conclusion, artificial sweeteners are sure to offer key applications in the global health-conscious market, as these types of sweeteners help consumers with multiple usages, like weight management, diabetes control, and improving dental health. Artificial sweeteners are also used in various types of pharmaceutical products, mainly to improve the taste of the drugs.
The Top 10 Lithium-Producing Countries
Thought ArticlesLithium, with an atomic number of 3, is a highly versatile element widely used in industries such as aerospace and energy storage. It plays a crucial role in the production of aircraft and is a key component in batteries. As the global shift toward sustainable energy continues, the demand for electric vehicles (EVs) is rising, driving a significant increase in the need for lithium and related products. According to the World Economic Forum, global lithium production exceeded 100,000 tonnes in 2021—four times the amount produced in 2010. Remarkably, around 90% of this output came from just three countries, emphasizing the dominance of a few nations in the global lithium market. As lithium becomes increasingly vital for clean energy technologies, understanding where it comes from is essential. Explore the Top 10 Lithium-Producing Countries to learn which nations are leading the way in meeting this growing demand and shaping the future of energy.
Table 1: Lithium-producing Countries, Production In Tonnes, 2021
Rank
% of Total
#1
#2
#3
13%
6%
#5
1%
1%
#7
#8
1%
0.1%
Total
100%
Source: World Economic Forum
Australia
Australia is in the fortunate situation of possessing significant hard rock lithium deposits. This resource is easily accessible thanks to well-established mining technology, which an established, competent, and effective mining sector in Australia has already applied in other mining applications.
Few regulatory measures and incentives support the lithium value chain as the country debates its energy strategy for future decades. In the ACT and Victoria, there is some limited assistance for the purchase of EVs; nevertheless, in most situations, the policy settings do not directly support generating consumer demand for either stationary energy storage or transportation. Australian governments have historically contributed significantly to the construction of gas pipelines, from the earliest days of infrastructure development with the poles and wires through the Snowy Hydro program.
Recent demonstrations from the Queensland University of Technology reveal the prototype for an Australian battery cell manufacturing process that is reasonably inexpensive. Other lithium-based technological advancements (like 24-M) exhibit extremely noticeable cost/performance advantages with noticeably reduced entry-level capital costs. Therefore, it is likely that the price of producing batteries might drop by a huge amount.
According to the Australian Bureau of Statistics, lithium exports increased by $2,318 million (737%) from the June quarter of 2022 to $2,632 million for June 2022. Since January 2021, Western Australia has contributed more than 99% of Australia’s lithium exports monthly.
Exports Of Lithium Concentrates In Australia, In US$ Million
Source: Australian Bureau of Statistics
Lithium is mostly found in brines and spodumene deposits in hard rock. The world’s biggest brine resource is located in northern Chile’s Salar de Atacama, and Australia produces 60% of the world’s lithium from spodumene, the largest spodumene producer. The output of spodumene lithium mines in Australia is also rising. Eastern Resources (EFE), a mineral explorer, revealed a new lithium finding at its Trigg Hill property in Western Australia’s East Pilbara this year. EFE conducted a preliminary soil sample program in April and May as part of its first evaluation, and it later said that the survey had yielded “significant” lithium soil readings.
The Pilgangoora lithium mine, whose orebody has one of the greatest lithium reserves in the world, is about 75 kilometers southeast of the EFE project, which may expand on the region’s history of robust lithium production. There are currently several active lithium mines in Australia. These include the Greenbushes mine, the world’s largest working lithium mine, which is anticipated to generate more than 160,000 tonnes annually after ongoing expansions are finished. Another significant Australian mine is the Mount Marion lithium project run by the ASX-listed Mineral Resources in the Yilgarn Craton.
Key Developments in Australia
In August 2022, Alkem recorded a sales increase of 800% to US$770 million, making it the company’s first profitable year since the merger. As a result, Allkem’s stock price has increased by 50.55% in a year and 31.44% in 2022.
In July 2022, Pilbara contributed AU$205,000 to the project, including AU$50 million in pre-investment financing to help with the P1000 expansion, which is the anticipated next phase and aims to increase production capacity to up to 1 million tonnes annually.
In May 2022, Australia’s first lithium hydroxide processing facility opened at Kwinana, located around 30 minutes south of Perth.
Chile
Chile is expanding swiftly in a world where battery materials are in high demand. The Salar Flat of Atacama is home to most of the nation’s lithium deposits, which, together with Australia, put Chile in a prominent position in the white gold market. Lithium extraction activities in the country continue to be dominated by Albemarle Corp., located in Charlotte, North Carolina, and Sociedad Qumica y Minera de Chile SA, also known as SQM, in Santiago, Chile. This reflects the nation’s historically cautious method of selling operating licenses at auction, which the Boric government has firmly established.
In Chile, NRGI (National Resource Governance Institute) is beginning to conduct a project on lithium governance. This project’s overarching goal is to enhance lithium governance’s aspects of economic and climate justice for the benefit of all Chileans. The specific objectives are to increase transparency and adopt international standards in the governance of Chile’s lithium industry, advance development strategies for subnational producing regions, integrate socio-environmental concerns of lithium-producing areas into policy decisions, and draw lessons from Chile’s experiences for Latin American discussions and regional cooperation on lithium.
In March 2023, the national lithium strategy, which will be announced this year, will continue to follow the government’s plan, according to Chile’s mining minister, Marcela Hernando. In addition, the government is coordinating a dialogue to develop a national lithium business as it prepares for challenging legislative discussions. The draft policy calls for consultations with indigenous groups, legislators, and others.
According to estimates by the Ministry of Foreign Affairs, from 2011 to 2020, lithium mining production in Chile. Around 18,000 metric tonnes of lithium were produced in Chile in 2020.
Lithium Production In Chile, In Metric Tonnes
Source: Ministry of Foreign Affairs
The greatest lithium producer in the world, the Salar de Atacama is a 3,000 km2 desert salt basin in northern Chile. Lithium is extracted from this brine by Sociedad Quimica y Minera (SQM) and Rockwood Holdings Inc. SQM has two operations in the nucleus and a claim over 820 km2 in size. At the moment, its South-Western business produces lithium. A portion of Rockwood’s activity in the southeast, which covers a claim area of roughly 137 km2, is dedicated to lithium extraction. A 100 km2 buffer zone separates the claims of the two businesses.
The Atacama desert salt flat, near Chile’s borders with Argentina and Bolivia, has historically hosted most of the country’s lithium production, but its resources are running out. Mining corporations are now keen to exploit the much smaller Maricunga salt flat, located approximately 100 miles northeast of Copiapó, as the demand for lithium continues to soar worldwide. Together with other members of the Observatorio Plurinacional de Salares Andinos (OPSAL) network, Rivera and Muoz are adamant about stopping it.
Key Developments in Chile
In February 2023, following the sale of Chengze Lithium International Limited’s (“Chengze”) 19.35% ownership investment in Lithium Chile to Gator Capital Ltd. (“Gator”), Lithium Chile Inc. (“Lithium Chile” or the “Company”) is pleased to announce the addition of a sizeable new shareholder.
In May 2022, major lithium producer SQM from Chile announced a nearly twelve-fold increase in quarterly earnings due to rising pricing for the metal used in electric-vehicle batteries.
China
China is a significant example of how lithium geopolitics may have increased state interdependence in renewable energy production while conversely creating new (inter)dependencies and conflict prospects. Therefore, this hybrid form of energy geopolitics requires that traditional explanations for energy security be updated to reflect these unique market circumstances.
China is a prime example for studying the geopolitics of lithium. According to Benchmark Mineral Intelligence 2020, Chinese firms manufacture 70% of Li-ion batteries and produce 50% of the world’s lithium. The US and Europe haven’t done much to counteract this supremacy up until lately. Despite the trade war, there hasn’t been any direct dispute over access to lithium resources between China and other major countries or between China and the major production states. China has mostly pursued interdependence in trade with other nations, but it has also established new interdependencies regarding technological advancement and superiority. Such an emphasis on China reflects its expanding market dominance, which might lead to new disputes and challenges to existing international norms under the discussion of an alternative system.
According to USGS estimates, China has a lithium deposit of 5.4 metric tonnes, accounting for an estimated 13% of the world’s total lithium reserves. Furthermore, 85% of China’s industrial lithium deposits are in lithium brines4. Salt lakes are mostly found in northwest China in Tibet, Xinjiang, Qinghai, and Inner Mongolia. The two primary brine kinds are carbonate and sulfate. The carbonate lithium deposits are mostly concentrated in the Dongtai and Xitai Ji Nai’er Lakes in Qinghai and Zabuye Salt Lake in western Tibet. The research, development, manufacture, and sales of thoroughly processed lithium goods are the main business activities of Ganfeng Lithium Group. This Chinese corporation has made significant progress in adopting a greener supply chain.
To provide supply security, the Chinese government regulates resource prices and investment (Economy and Levi 2014). It develops sustainable and all-encompassing strategies to advise the Chinese government on critical minerals, including lithium and Li-ion batteries. Three of the most recent 5-year plans—2011-2015 (CNPC 2011), 2016-2020, and 2021–2026 (CSET 2020)—strongly focused on rare earth minerals, environmental conservation, and energy efficiency. The policies and choices made by Chinese businesses in support of Chinese dominance in the global lithium and Li-ion battery sector also find an echo in society.
Lithium Mine Production In China, 2020-2021
Source: US Geological Survey
Key Developments in China
In June 2023, the Sinomine resource group of China purchased Zimbabwe’s Bikita Minerals in January, making it the continent’s only lithium producer as of 2021. According to a statement released on July 14 by the government-owned engineering firm PowerChina, the corporation intends to increase output to five million tonnes of lithium annually.
In March 2023, following the conclusion of an offtake agreement with Suzhou TA&A, Premier African Minerals, located in Togo, declared that it would begin transporting spodumene concentrate from its Zulu lithium mine in Zimbabwe to China by March 2023.
Brazil
Brazil has relaxed its lithium export regulations to take advantage of the rising worldwide demand for the metal used in electric car batteries and establish itself as a major supplier of the metal. A news agency reported Brazilian Mines and Energy Minister Adolfo Sachsida stating that the new regulation will draw investments into the Brazilian lithium sector from nations in Eastern Europe and Asia.
Brazil recently issued an executive order to do away with the need for lithium exports from the nation to be approved by the nuclear energy committee of the Science and Technology Ministry. Instead, the Brazilian government declared it would permit unlimited overseas commerce of lithium minerals, ores, and their derivatives via a Government Decree issued by the Ministry for Mines and Energy (Ministerio de Minas e Energia). The regulation change did not immediately impact Oceana because the business is only beginning its exploration at Solonopole. However, it did convey a clear message regarding the government’s support for the nation’s upstream project development and future lithium exploration.
Brazilian output is solely derived from pegmatite deposits in the eastern portion of the Brazilian shield, mostly in the northern Minas Gerais State area of Araçuai-Itinga. The known lithium pegmatite deposits are not thoroughly quantified. Still, the currently available information suggests that their abundance and geographic location more than makeup for their smaller sizes when compared to larger bodies found at Kings Mountain, Bikita, and other sites. These characteristics increase the likelihood of sizeable deposits, especially petalite, and spodumene. Based on research previously carried out in certain locations, these reserves are at least 25,000 tonnes of lithium.
Furthermore, there is proof that lithium brines can be found in accumulation basins in the Araçuai-Itinga district. Therefore, some Northeastern Brazilian regions could be affected by this. Arqueana de Minerios e Metais is putting together a program of systematic sampling to support this claim.
Lithium Mine Production In Brazil, 2020-2021
Source: US Geological Survey
Brazilian facilities managed by AMG Mineracao, a German company AMG Advanced Metallurgical Group division and local competitor Companhia Brasileira de Litio, manufacture lithium concentrates. Both of these projects are situated in the mining-friendly southern state of Minas Gerais, home to the enormous iron ore mines upon which the successful national mining champion Vale was founded.
The Groto do Cirilo lithium project, also located in Minas Gerais, is being developed by Sigma Lithium Corporation, listed on the TSX and NASDAQ. On the strength of its success with Groto do Cirilo, which may become the fourth-largest lithium mine in the world at peak production, Sigma has expanded into a C$2.1 billion firm. Within the Solonopole landholding, detailed field mapping by Oceana’s Brazilian affiliate Ceara Litio revealed around 17km of outcropping mineralized pegmatites. The in-country team is also doing infill soil geochemistry throughout a 50m by 20m grid as part of mapping these pegmatites.
Key developments in Brazil
In April 2023, According to Sigma Lithium, the Grota do Cirilo project in the state of Minas Gerais will begin commissioning this month to have the product ready for distribution.
In May 2022, The Strategic Mineral Resources Company for the Green Energy Revolution, Brazil Minerals, Inc. (OTC Pink: BMIX) (the “Company” or “Brazil Minerals”), is happy to report that the Brazilian mining department has granted it a new 4,708-acre lithium exploration permit in Minas Gerais, Brazil.
Applications of Lithium-ion
The ultimate applications for lithium are different in 2021 compared to 2010, as electric vehicles (EVs) and lithium-ion batteries revolutionized the lithium demand.
Table 2: End-Use Industry, 2010-2021
Source: World Economic Forum
Glass and ceramics consumed 31% more lithium in 2010 than any other end-use industry. Lithium carbonate improves strength and decreases thermal expansion in ceramic and glass products, frequently necessary for contemporary glass-ceramic cooktops. Along with other less well-known applications, lithium is also used to create lubrication greases for the transportation, steel, and aviation sectors. Furthermore, with the significant industrialization, there has been a major growth in the use of lithium for batteries which was 74%.in 2021.
Although U.S.-based lithium-ion battery production must significantly increase to fulfill the demands of the expanding domestic market, the nation has a solid platform upon which to add more manufacturing capacity. Approximately 8% (or roughly 59 GWh) of the 747 GWh global EV lithium-ion cell production in 2020 was done in the United States. By 2025, 2,492 GWh of EV cells are estimated to be produced globally, with 224 GWh made in the United States. Furthermore, the World Economic Forum expects that by 2025, demand from U.S. passenger EV sales alone will exceed this estimated 224 GWh of lithium-ion cell production capacity.
Cell-manufacturing Capacities (Lithium-ion Megafactory), By Geography, 2020-2025
2020 2025
Source: Department of Energy
Major deposit classes and extractive operations in lithium production.
Only pegmatite deposits are now used to extract lithium. However, hectorite and jadarite may be used in the future. Although it has been shown that geothermal and oilfield brines can also be extracted, they are less common than continental brine deposits.
Pegmatites are classified as igneous rocks, often of granitic composition, that may be identified by their abundance of crystals with skeleton graphics or by their highly coarse but variable grain size, which sets them apart from other volcanic rocks.
Table 3: Key Features Of Lithium Deposit Types
A variety of minerals may make up pegmatites. The term “pegmatite” or names with any other plutonic rock type as a prefix are used. Examples are granite pegmatite, gabbro pegmatite, and syenite pegmatite. Granodiorite to granite-type compositions is typical. There may be a lot of large crystals of micas (such as muscovite and lepidolite), potassium feldspar, sodium-rich plagioclase, and quartz. Hectorite clay deposits are uncommon, although they can be produced by at least three geological processes, including modifying volcanic ash or glass, lacustrine water precipitation, or incorporating lithium into pre-existing smectite clay deposits.
The government is initiating various lithium production methods
According to the USGS, a brine project in Nevada produces the sole commercial-scale lithium production in the US (there are also lithium processing plants and a facility for recycling lithium batteries in Lancaster, OH). To help ensure the supply of this vital metal, there is a rising demand to boost local lithium production.
In particular, geothermal brines from the Salton Sea in California and so-called “produced water” from shale gas drilling in Texas present opportunities for direct lithium extraction. In addition, several businesses, particularly in Nevada, are actively researching lithium extraction from lithium-bearing clays. Finally, many other manufacturing techniques are being studied, including acid leaching in sulfuric and hydrochloric acid.
Additionally, many sectors relying on the rare alkali metal are delighted by the recent Geological Survey of India’s (GSI) declaration regarding its early exploration of lithium deposits. The GSI asserts that it has discovered “lithium inferred resources” in the Salal-Haimana region of the Reasi district in Jammu and Kashmir. These resources were calculated based on the surface and samples’ physical and chemical analysis. According to statistics from the Ministry of Commerce and Industries, India spent Rs 163 billion on the purchase of lithium and lithium-ion between April and December of 2022–2023.
Projections of future market growth in top lithium-producing countries.
Currently, the commercial and the national defense markets may be distinguished in the U.S. for lithium-ion batteries or alternative rechargeable battery chemistries. Even though the end-use applications and specifications for various markets vary, they all demand innovation and R&D. For the nation to be economically competitive and secure, successful domestic manufacturing and trustworthy supply chains in both markets are essential.
Annual Sales Of Passenger Evs (Battery Electric Vehicles And Plug-in Hybrid Electric Vehicles), US$ Millions
Source: Department of Energy
Major Companies and their key development in lithium production:
Sociedad Quimica y Minera de Chile (SQM), FMC, and Albemarle formed an oligopoly that produced most of the lithium. SQM, FMC, and Albemarle still produce most of the lithium produced worldwide, although China also contributes significantly. In terms of mine output, it was the third-largest lithium producer in 2022, behind Australia and Chile.
A joint venture between China’s Tianqi Lithium and Australia’s IGO controls the bulk of Australia’s largest lithium mine, Greenbushes. The mine’s operator, Talison Lithium, is 51 percent owned by the joint venture and 49 percent by Albemarle.
Albermarle – One of the biggest lithium manufacturers in the world, Albemarle has 5,000 workers and clients in 100 different nations. In addition to lithium, Albemarle also manufactures bromine and offers chemical services and refining solutions to pharmaceutical companies.
In February 2023, Albemarle increased its investment in Kemerton I and II to 85%, while MinRes increased its interest in the Wodgina mine to 50% as part of the joint venture’s reorganization, which the firms announced.
In November 2022, Guangxi Tianyuan New Energy Materials, whose facilities include the Quinzhou lithium conversion facility, which can convert 25,000 metric tonnes (MT) of lithium carbonate equivalent annually, and the Meishan plant, which is expected to be operational by the end of 2024 and have a capacity of 50,000 MT annually, were acquired by the company.
SQM – SQM (Sociedad Quimica y Minera de Chile) has offices in more than 20 countries and clients in 110 countries. It operates in five business sectors, from lithium to potassium to specialized plant nutrition. SQM exceeded expectations by reaching 157,000 MT by the end of 2022 and generating US$8.15 billion in income from lithium and derivatives.
Ganfeng Lithium -Ganfeng Lithium is a prominent producer of lithium in China. It is one of the world’s major producers of lithium metal and the top producer of lithium compounds in China.
In August 2022, the business kept binge buying, again with Argentina in mind. For up to US$962 million, Ganfeng said that it would purchase Lithea, a private firm that holds the rights to two lithium salt lakes in Salta province.
Tianqi Lithium – The largest hard-rock lithium producer in the world is Tianqi Lithium, a division of the Chinese company Chengdu Tianqi Industry Group. The business owns holdings in China, Australia, and Chile.
In July 2022, the business raised around US$1.7 billion for its initial public offering in Hong Kong. Commercial production at Kwinana started in December 2022 with the facility’s Train 1; Train 2 is anticipated to be serviced in 2024.
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The Role of Electric Vehicles in Grid Stability: A Deep Dive into the V2G Market
Thought ArticlesVehicle-to-grid (V2G) is a technology that provides electric vehicles (EVs) to form a two-way association with the public power grid. The innovation of V2G makes it possible for EVs to not only utilize electricity from the grid but also recharge the framework in case power is abundant within the vehicle’s batteries or in case there is high energy demand. The increment in sales of EVs around the world is projected to be a considerable factor in the development of the vehicle-to-grid (V2G) market.
Besides, the V2G innovation incorporates many benefits for the end users. This is often made possible by the fact that the EVs and the power grid have a bidirectional energy stream. The shift towards EVs is gaining force around the world primarily since it helps decrease carbon emissions. It is, subsequently, not surprising that the developing popularity of EVs and EV-oriented innovations is anticipated to fuel the development of the V2G sector in the coming years.
In its report on the trends in EVs globally, the International Energy Agency (IEA), an international organization reported that the sales of electric cars in different countries for instance, developed countries like China were very high, selling an estimated figure of 6 million cars in 2022 which increased to 8.1 million sales value in 2023 and up to 10.1 million sales in 2024. In the same vein, in 2022, the number of electric cars sold in Europe and the USA was about 2.7 million and 1 million respectively, which increased to 3.2 million and 1.4 million sold in 2023 in Europe and the USA respectively. In 2024, about 3.4 million total EV sales were recorded in Europe while in the USA about 1.7 million.
Additionally, in various countries, governments advocate for the deployment of V2G and its associated technologies in the existing energy grid through incentives, regulatory policies, and investments. Smart grid systems and advanced metering infrastructures are being built to facilitate such usage. For instance, the funded project by the UK government known as Vehicle to Grid Britain (V2GB) strives to find out the relationship between the geographic spread of EVs and V2G technologies which needs many battery units of electric cars to support the energy system in the UK. Emphasis is placed on key aspects such as the possible revenue generation of over £400 per year from a 7kW V2G residential charge point, prices reducing to below £1000 by 2030 to remain competitive, and cost benefits of £200million for investment in cumulative distribution networks and £40-90 million annually in GB by the year 2030.
There is a growing acceptance of V2G technology in the world, and this technology enables vehicle owners to earn passive income from electric companies, while power companies utilize energy from the batteries of EVs during demand time to avoid power deficits or brownouts. For example, in February 2024, Octopus Energy launched the V2G program known as the Octopus Power Pack, the first of its kind in the United Kingdom that comes with free electric car charging for drivers. The initiative is intended to speed up the transition of the nation to green transport and an average user of electric cars saves over 850 yearly on this service in comparison to a normal variable tariff.
Figure 1: Increase in Sales of Electric Cars in the World, in Million, in 2022-2024
Source: International Energy Agency (IEA)
In addition, it is estimated that the Asia Pacific region will have a substantial share in the V2G market enfolding EVs in grid stabilization, which will primarily be due to increasing government policies and funding on EVs and V2G implementation. The emerging Asia Pacific region incorporates one of the largest and the most growing EV markets in the world with several developed and developing countries such as China, India, Japan, Vietnam, and Malaysia, and several others witnessing development in the EV industry which has resulted in increased energy and power demand in the region.
The Asia Pacific region is ranked among the largest regions carrying out vehicle electrification at the global scale with a large portion of EVs manufactured and consumed from Asia commencing with China, followed by India and Japan. Development of important networks necessary for the functioning of EVs is witnessed in these countries which is further expected to accelerate several EV-centric technologies such as V2G, V2H, and V2X. According to the Malaysian Green Technology and Climate Change Corporation, total sales of electric vehicles in Malaysia increased in 2023 reaching a growth of around 286% when compared to 2022. The number of EVs that were registered and sold in Malaysia in 2023 was approximately 10,159 vehicles, while it was only 2,631 vehicles that were sold back in 2022. Also, the International Trade Administration of the USA stated that the number of registered EVs in Taiwan increased from about 7,064 in 2021 to 16,106 in the year 2022. Moreover, this organization indicated that in 2022, approximately 3.4% of all new vehicle registrations in the country were for EV passenger cars.
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Radar Sensor Market is estimated to grow at a CAGR of 17.51% to reach US$30.536 billion by 2029
Press ReleasesThe global radar sensor market is expected to grow at a CAGR of 17.51% during the forecasted period, with a market valuation of US$13.627 billion in 2021 and is expected to reach US$30.536 billion by 2029.
The increasing adoption within the aerospace and defence industry, coupled with heightened investments in the United States Air Force, are key factors propelling the radar sensor market forward.
As per the report, the radar sensor market is expected to grow significantly.
Radar sensors are extensively employed for their capacity to identify, pinpoint, and monitor objects, rendering them indispensable elements in various sectors including automotive, aerospace, defence, and industrial, among others. A primary driver of growth in the worldwide radar sensor market is the rising need for advanced driver assistance systems (ADAS) and self-driving vehicles within the automotive industry. Radar sensors are crucial in guaranteeing vehicle safety by facilitating functions such as adaptive cruise control, collision avoidance, and parking assistance. In June 2023, SICK unveiled the RMS3xx radar sensor, which combines SICK’s cutting-edge radar technology with dependable hardware and efficient software.
The radar sensor market can be segmented based on the type of radar system it encompasses, which includes bistatic radar, continuous wave radar, instrumentation radar, and weather radar. Bistatic radar systems utilize separate transmitting and receiving antennas, providing distinct advantages in terms of stealth detection and target identification. Continuous wave radar systems operate by emitting a continuous signal, offering high accuracy and sensitivity, making them suitable for applications such as speed measurement and distance sensing. Instrumentation radar systems are designed for precise measurements in various fields, including aerospace, meteorology, and industrial applications, offering advanced capabilities for monitoring and analysis. Weather radar systems specialize in detecting and tracking weather phenomena such as precipitation, storms, and atmospheric conditions, providing critical data for meteorological forecasting and disaster management. These diverse types of radar systems cater to a wide range of applications across industries, contributing to the overall growth and innovation within the radar sensor market.
The radar sensor market can be delineated based on its application across various sectors, including automotive, aerospace and defense, security and surveillance, and industrial domains. In the automotive sector, radar sensors play a pivotal role in advanced driver assistance systems (ADAS), enabling features like adaptive cruise control, collision avoidance, and autonomous emergency braking. In aerospace and defense, radar sensors are extensively utilized for surveillance, target detection, and navigation purposes, enhancing situational awareness and ensuring mission success. The security and surveillance industry relies on radar sensors for perimeter monitoring, intruder detection, and border surveillance, providing reliable and effective surveillance solutions in both civilian and military contexts. In the industrial sector, radar sensors find applications in areas such as object detection, level measurement, and motion sensing, facilitating automation, process control, and safety enhancement across manufacturing, logistics, and construction industries. These diverse applications underscore the versatility and significance of radar sensors across multiple sectors, driving their widespread adoption and market growth.
In the United States, the demand for radar sensors is increasing rapidly due to the growing automation, particularly with the advancements in Industry 4.0 and the shift towards autonomous driving. This trend underscores the heightened need for presence and motion detection to enhance safety and control measures. The expansion of the radar sensor market in the country is further fueled by the evolution of 5G and the Internet of Things (IoT), along with the escalating research and development investments in radar technology. In August 2023, RTX announced that the U.S. Air Force would commence testing a new medium-range radar sensor for the National Advanced Surface-to-Air Missile System, following several recent government contracts. With grants totaling $7 million from the Air Force Research Laboratory’s Strategic Development, Planning, and Experimentation Office, as well as the Office of the Secretary of Defense’s Rapid Prototyping Program, RTX aims to advance the development and testing of its GhostEye MR radar.
In a highly competitive market, several companies offer radar sensors, including Geolux d.o.o., Baumer Holding AG, ASTYX GmbH, ZF Friedrichshafen AG, Hans Turck GmbH & Co. KG, HENSOLDT Group, Smart Microwave Sensors GmbH, InnoSenT GmbH, Banner Engineering Corp., and SICK AG.
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This analytics report segments the radar sensor market on the following basis:
Baby Wipes Market size worth US$6.577 billion by 2029
Press ReleasesThe global baby wipes market is expected to grow at a CAGR of 4.56% during the forecasted period, with a market valuation of US$5.264 billion in 2024, and is expected to reach US$6.577 billion by 2029.
The infant’s delicate skin is generally cleaned with baby wipes. Ingredients of baby products raise parents’ concerns most at the time of their buying. In essence, this helps them prevent their baby from getting a skin infection from potentially dangerous substances. To meet the diverse hygienic needs of their customers, companies are therefore putting a lot of effort into creating wipes with safer formulations and a range of sizes and styles. For additional information, they are developing environmentally friendly packaging for these products to promote environmental sustainability.
Moreover, some producers are seeing consumer preferences as a window of opportunity and have begun to create innovative biodegradable environment-friendly and sustainable products spurred by legal obligations. However, as increasingly more millennial parents are enlightened about the advantages of using natural organic and sustainable wipes; they force producers to meet their demands. For example, BumBoosa Bamboo Baby Wipes are a biobased product that has been certified by the United States Department of Agriculture. Products whose primary ingredients come from renewable plant, animal, marine, or forestry materials are classified as biobased by the USDA. In response to shifting consumer preferences for organic and environmentally friendly products, Bumboosa introduced bamboo wipes for babies that contain botanical ingredients.
Further, the trend of consumers favouring alcohol-free, biodegradable, and environmentally friendly baby wipes without artificial colours, fragrances, or harsh chemicals has encouraged manufacturers to create wipes with a higher percentage of natural ingredients. For instance, the earth-friendly baby wipes company makes earth-friendly aloe vera wipes, which are well-liked by eco-aware consumers and praised for being incredibly calming and mild for newborns due to ingredients like calendula, chamomile, and aloe vera extracts that nourish and maintain healthy skin.
The global baby wipes market, by type, is divided into two types- Dry wipes and wet wipes. Dry wipes can be used for various purposes like body cleansing, diaper changing and feeding. They also come in handy in preventing diaper rash. In addition to that, dry wipes can act as substitutes for tissues, toilet paper and paper towels. Due to adjustments in people’s preferences for baby-care items that are natural, organic and sustainable, producers are engaged in making eco-friendly wet wipes.
Further, the babies are often cleaned with wet wipes while it was diapered. In addition, today’s fast-paced parenthood is expected to expand in this segment due to time constraints. Companies have explored diversification strategies for wet wipes and consumer preferences.
The global baby wipes market, by sales channel, is divided into two types: online and offline. Supermarkets and hypermarkets are large retail formats that provide an assortment of baby care products such as wipes. The large shelf space and different brands and options offered by these shops make it easy for parents to find and purchase baby wipes during their regular shopping. Similarly, these shops serve as one-stop shops where parents can get a variety of products including baby supplies. They also tend to attract price-sensitive consumers by offering competitive prices, discounts, and promotions. In addition, the strategic location and accessibility enable a wider range of consumers to get baby wipes easily. This availability of baby wipes in these stores enhances awareness creation increasing sales as well as meeting the needs of mothers who seek reliable and convenient solutions for taking care of their infants. To help with issues surrounding childcare, this is one place where you can always find those wipes that come in handy when dealing with your little one’s bum.
The global baby wipes market, by end-user, is divided into five types: Aerospace and defence, automotive, marine, oil and gas, and others. In the automotive testing industry, global baby wipes find extensive use in a range of applications, including computer architecture, vehicle thermal control, tyre, engine, and break monitoring, as well as testing of next-generation internal combustion and electric propulsion. And as the industry’s needs grow, so too will the use of these cameras as thermal imaging technology becomes more sophisticated, affordable, and small. New thermal imaging technologies and specifications are being developed, and major players are keeping up the construction of products and solutions to meet the ever-increasing industry needs as the automotive sector continues to grow and change. Using thermal imaging instead of more conventional temperature control devices like thermocouples, IR spot weapons, RTDs, etc. have several advantages.
During the projected timeframe, it is anticipated that the market for global baby wipes will experience remarkable growth within North America. There is a big population of infants and toddlers in North America that brings forth an extensive market for baby care products; consequently, this area has primarily high demand for baby wipes owing to the desire for convenience and hygiene among parents. Moreover, baby wipes are readily available because there are supermarkets, hypermarkets and online retailers within North America. Due to this factor together with North American culture’s overemphasis on cleanliness especially concerning infants and small children, more people want baby wipes now than ever before. Moreover, product development, marketing as well as distribution are supported in North America by some of the key players in the baby care sector.
The research includes several key players from the global baby wipes market, such as Pampers (Procter & Gamble), Himalaya Wellness Company, Mamy Poko Pants (Unicharm Corporation), American Hygienics Corporation, Rockline (United Kingdom), Johnson & Johnson Private Limited, Codi Group, Farlin-Global, Pigeon India, KCWW (Kimberley-Clark) (Huggies), Albaad, and Nölken Hygiene Products GmbH.
View a sample of the report or purchase the complete study at https://www.knowledge-sourcing.com/report/global-baby-wipes-market
The analytics report categorizes the global baby wipes market using the following criteria:
Segmentation: