The global thermal barrier coatings market is evaluated at US$12.152 billion for the year 2020, growing at a CAGR of 4.09%, to reach a market size of US$16.092 billion by the year 2027.
Thermal Barrier Coatings (TBCs) insulate parts in machinery that run at high temperatures, such as power plants, ducting and nozzle guide vanes, aircraft parts, and other metallic surfaces. TBCs enable poor thermal conductivity and thermal expansion, as well as high thermal expansion for gas turbines, in addition to high efficiency at high temperatures. TBC demand in reciprocating engine operations is predicted to rise as a result of these considerations.
Expansion of Air Cargo and Power Consumption
The need for thermal barrier coatings is expected to expand significantly throughout the forecast period, owing to the increasing significance of air cargo delivery and the increasing number of air passengers. Furthermore, rising global power consumption, particularly in emerging nations, and rising technological innovation are likely to drive the growth of the thermal barrier coatings market during the forecast period.
Technological Advancement Funding the Market
Thermal barrier market expansion will be aided by technological advances. With the help of technology, it is now feasible to make thermal barrier coatings that are more efficient. Many end-users are attracted to this technology because of its effective coating and operations. Another important development is the funding of thermal barrier research. The market study is paving the way for a new product line. Thermal barrier coatings are in high demand in many developing countries. As a result, there is a lot of research going on to create a new variety of these coatings. Thermal barrier coating is becoming more popular in the aerospace industry. It is attracting capital from the market. Many good improvements will occur in the market as a result of growing investments.
During the forecasted period of 2022-2027, the High-Velocity Oxy-fuel segment retained the maximum concentration in the Thermal Barrier Coatings market
The coating technology is divided by the plasma spray, combustion flame spray, high-velocity oxy/air fuel, arc spray, cold gas and others. The HVOF technology category has the biggest revenue share because it allows for the use of a wide range of coating materials, including ceramic, metals, and other alloys, to provide coatings. Strong corrosion resistance, fine-as-sprayed surface finishes, high adhesion qualities, and low oxides levels are all features of the coating applied using HVOF technology. HVOF spraying technique is that the coatings are exceedingly dense and durable, and they can typically be created at low temperatures. Surface engineering techniques are utilized in thermal barrier coatings, which improve equipment life by boosting erosion or wear resistance, as well as corrosion protection. This technology allows for use of a wide range of materials, including metals, ceramics, and alloys, to create coatings with exceptional hardness, better adhesion, and corrosion resistance and good Strong corrosion resistance, fine-as-sprayed surface finishes, high adhesion qualities, and low oxides levels are all features of the coating applied using HVOF technology. This market is divided into four categories: automotive, industrial, energy, and aerospace.
Ceramic Segment to Share the Highest Revenue in the Thermal Barrier Coatings Market
Metal, ceramics, intermetallic, and other product types are used to categorise the thermal barrier coatings market. Due to the high thermal resistance characteristics of ceramic TBCs, the ceramic segment accounts for the highest revenue share in the market. Engine turbine blades, for example, can work at high temperatures in the automotive and aviation industries, potentially increasing the thermal efficiency of equipment (engines, etc.) by up to 60%. Coating materials including such Al2O3, ceramics YSZ (yttria-stabilized zirconia), MCrAlY, and others are also used to categorize the thermal barrier coating market. The low thermal conductivity and excellent thermal stability of Al2O3 coatings, the Al2O3 category is predicted to account for the greatest market share over the projection period. Furthermore, alumina is chemically inert and has a high hardness, both of which are important in the manufacture of composites. Engine turbine blades, for example, can work at high temperatures in the automotive and aviation industries, potentially increasing the thermal efficiency of equipment (engines, etc.) by up to 60%.
Automotive Industry Has the Highest Application in the Thermal Barrier Coatings Market
The application is divided of the thermal barrier coating is divided into power generation, aerospace, automotive and others. The maximum market share is accounted from the automotive industry. In aviation gas turbines, thermal barrier coatings are often used to prevent nickel-based superalloys from melting and thermal cycling. According to the American Society of Mechanical Engineers, aviation gas turbine sales in 2020 will total $44.6 billion, down from $74.7 billion in 2018. The loss was completely attributed to a 46 percent drop in output in the commercial aviation industry over two years. In a commercial airplane engine, for example, the fuel burns at temperatures of up to 2,000°C inside the combustion chamber. The turbine, which requires energy from the warmed gases and provides engine power, is subjected to gases with temperatures ranging from 850 to 1700 degrees Celsius. As a result of this significant benefit of Thermal Barrier Coatings, the gas turbine segment is projected to dominate the global market.
Stringent Government Regulations
The government’s strict environmental regulations will cause a decrease in protective coatings. When people inhale the coatings product, it can cause respiratory issues. Most of these coatings have dangerous chemical particles in them. It is also not an environmentally friendly coating. As a result, many countries have imposed strict regulations on using thermal barrier coatings. These regulations will slow the use of thermal barrier coatings throughout general. In the next years, government legislation will increase, resulting in greater restrictions. However, in some areas, using this product has a number of drawbacks.
High Price Fluctuation
The price of these thermal coatings is always fluctuating, which has an impact on growth. The manufacture of this coating necessitates a large number of basic components. Raw materials, in particular, are expensive and scarce in many areas. Price volatility is caused by a scarcity of raw materials. The price discrepancy is higher due to raw material fluctuations. The need for thermal barriers may decrease as prices rise. Furthermore, in some areas, a lack of awareness can have an impact on demand. Regions with less investment, in particular, have a lower awareness of heat barrier coatings.
North America Region is Expected to Grow Substantially Over the Forecast Period
The thermal barrier coating market, by geography, is divided into North America, Europe, Middle East and Africa, Asia Pacific and South America. Over the forecast period, North America dominated the global market, accounting for the highest revenue share. The United States dominated the regional market in North America, and this number is steadily. Growing product demand from various applications such as static power plants, aerospace, automotive, and others, as well as the availability of highly skilled labour, high disposable incomes, and the strong economies of the region’s countries, are the main reasons for an increase in air traffic in North America.
In terms of market share, Asia Pacific is the fastest-growing region in the worldwide thermal barrier coatings industry. This is due to rising global demand for power and greener solutions, as well as the expansion of the region’s industrial and automotive industries. Due to an increase in the number of power generation and demands for vapour deposition technology, countries like India and China are likely to contribute considerably to market growth. Because of recent growth in the energy and aerospace sectors, the European market is likely to increase significantly.
The COVID-19 Hampered the Thermal Barrier Coatings Market
Covid 19 has a negative impact on industries all over the world. During this time, the market for thermal barriers coatings is seeing a decline. In addition, the economic downturn is a major factor in the market’s downward path. The market will be severely impacted by supply chain disruptions. Furthermore, end-user demand for coatings is decreasing. The car industry, in particular, is experiencing a drop in demand. The overall supply of automobiles has decreased dramatically. It lowers the market’s investment from the user’s perspective. In addition, due to global limits and lockdowns, the application of thermal barriers coatings is slowing. All of these obstacles have altered the market environment for thermal barriers. The market outlook appears to be favourable following Covid 19. The market’s demand is predicted to continue to rise in the forthcoming years.
Thermal Barrier Coatings Market Scope:
| Report Metric |
Details |
| Market Size Value in 2020 |
US$12.152 billion |
| Market Size Value in 2027 |
US$16.092 billion |
| Growth Rate |
CAGR of 4.09% from 2020 to 2027 |
| Base Year |
2020 |
| Forecast Period |
2022–2027 |
| Forecast Unit (Value) |
USD Billion |
| Segments Covered |
Coating Technology, Product, Application, And Geography |
| Regions Covered |
North America, South America, Europe, Middle East and Africa, Asia Pacific |
| Companies Covered |
Praxair S.T. Technology, Inc., Racine Flame Spray, Inc., Saint-Gobain, Curtiss-Wright Surface Technologies, Honeywell International, Inc., Ultramet, Northwest Mettech Corp., Thermacote, Hayden Corp. Thermal Spray Coaters, Keco Coatings |
| Customization Scope |
Free report customization with purchase |
The Takeover of the Concentrated Solar Power Market Across the Globe
BlogThe Concentrated Solar Power Market is expected to grow at a compound annual growth rate of 10.67% over the forecasted period to reach a market size of US$2.602 billion in 2027 from the US$1.280 billion in 2020.
Concentrated solar power plants are systems that use mirrors to concentrate the energy of the sun and use it for the operation of the conventional steam turbines as well as engines that generate electricity. The thermal energy that is concentrated in a CSP plant is retainable and can be stored and used to generate electricity as per the requirement of the user, be it day or night.
This technology helps in the generation of electricity by focusing on sunlight. The energy of the sun which is concentrated is then converted into high-temperature heat, which is then processed through a conventional generator. A CSP plant comprises of two parts: the function of the first one is to collect the solar energy and convert it into heat, while the second converts that produced heat energy into electricity. Because of the use of the thermal storage functionality, these systems are able to supply solar power as and when required, helping to tackle the grid integration challenges regarding the variability of solar energy and enabling the heat produced through it to be stored until the time the electricity is needed. Apart from powering a turbine, CSP technology can also be used in the production of heat in a broad range of industrial applications like food processing, water desalination, enhanced, chemical production, oil recovery and mineral processing among others.
Rapidly growing global consumption of electricity to augment market growth
A key factor which is fuelling the demand for concentrated solar power is the constantly growing consumption of electricity across the globe. According to the United States Energy Information Administration (EIA), the electricity consumption worldwide has been increasing at a faster rate than the rate of rise of global population, which has led to an increase in the average amount of electricity consumed by each person, which can also be called, per capita electricity consumption. Most of the rise in electricity consumption can be attributed to the growing electricity consumption in developing economies outside the OECD (Organization for Economic Cooperation and Development), which use electricity various spaces like in buildings for lighting and operating appliances, for manufacturing goods in industrial processes, as well as in the transportation sector for powering rail and light-duty vehicles. This continuous inclination of per capita electricity consumption has reflected the rapid transition to more energy-intensive industries. This along with changes in demand of services, like, the growing use of air conditioners and other electric appliances add further to the already growing electricity consumption. Adding to this, even in the less developed non-OECD countries, the per capita electricity growth has grown to more than double in the time period between 2000 and 2017. Hence, all these factors have attributed to the increase in global consumption of electricity, which in turn is expected to give rise to the use of renewable, clean energies like solar energy, thus projecting a growth for the CSP market.
Government schemes and policies regarding green energy to drive market growth
In recent times, the governments of various countries have rolled out policies and programs to that will lead to rise in the installation of the CSP technology which is turn projected to bolster the growth of this market in the analysed period. For instance, the U.S. Department of Energy provides a great amount of funding through competitive awards to universities, industries, and laboratories with the common aim of making wide-scale dispatchable solar energy systems cost-effective without the need of any subsidy by 2020. MUSTEC (Market uptake of solar thermal electricity through cooperation), in view of EU 2030, has the goal of exploring and proposing viable solutions to overcome the obstacles that restrain the arrangement of CSP cooperation projects. All these initiatives and plans are thus predicted to contribute greatly towards setting up of more CSP technology leading to the growth of the market.
Geographical insights
By geography, the CSP market has been divided into five regional markets: North America, South America, Europe, Middle East and Africa and Asia Pacific. The North American region accounted for a significant share of the global CSP market back in 2019. As of now, approximately 1,815 MW of CSP plants are operational in the United States. Even Europe holds a substantial share in the global CSP market, with investments booming up in Spain. Further, with fresh tariff legislation, the increasing need for storage and the proven performance of these plants, there has been a great amount of boost in the confidence of the investors in the Spanish CSP ownership. In February 2020, Mitsubishi Corporation entered the CSP market by making investments in four CSP plants in Spain, held by the Spanish solar power giant, Acciona with Mitsubishi Corporation having an ownership of 15 percent in its shares. The Asia Pacific region is expected to witness promising growth in the concentrated solar power market in the forecasted period due to the rise in the amount of investments in renewable energy sources. Countries like India and China have offered lucrative opportunities for the players in the CSP market owing to the rapid installation and implementation of solar energy in order to increase the share of renewable energy generation. Recently, a lot of attention has been diverted to the Middle East and North America region. CSP based energy has shown an increased popularity there because, unlike the solar photovoltaic generated energy, the former can very easily be used to store the generated thermal energy within massive molten salt tanks for a later usage, even at night.
Covid-19 Insights
The CSP market was saw a decline because of the outbreak of the coronavirus pandemic. The subsequent lockdowns that followed disrupted the supply chain due shutting down of production facilities which resulted in reduced production of CSP plants. Not just that, this had a negative effect on the demand of this technology as well due to the pause in the functioning of various industries and declining investments in new CSP projects.
Global Concentrated Solar Power (CSP) Market Scope:
Diving Deep Inside The Hot Melt Adhesive Tape
BlogThe hot melt adhesive tape market is valued at US$22.145 billion in 2020, with a CAGR of 6.11% predicted to raise US$33.532 billion by 2027.
Hot-melt adhesive, also identified as hot glue, is a thermoplastic adhesive. Due to its extensive use in DIY applications, hot melt adhesive is identified to provide surface application on various materials such as fabric, metals, plastics, papers, cardboard, and so on. Craft, paper, woodwork, and plastic packaging are do-it-yourself applications. Hot melt adhesives do not require curing or drying. They can be applied in a molten state and thus bonded immediately after application. In correlation to acrylic tape, hot melt tapes have substantially higher adhesion. They have outstanding holding power (also known as shear value), tensile strength, and a quick tack. A hot melt tape is perfect for machine-applied tapes, overstuffed cartons, or cartons with high recycled content. They work well in temperatures ranging from 45 to 120 degrees Fahrenheit. Hot Melt Tape is widely used for carton sealing with automatic packaging machines because it has a higher blanching adhesion and a lower unwinding force than other tapes. There are many reasons that a company might prefer hot melt adhesive over other types of adhesive. Manufacturers benefit from the easy implementation of hot melt adhesives, low price, long life cycle, and low degree of volatile organic compounds (VOCs). A hot melt adhesive can be efficiently and quickly applied to sustain large manufacturing and process automation on production lines while improving overall effectiveness.
Hot Melt Adhesive and Its Base
Polyamide-Based Hot Melt Adhesive– Polyamide-based hot melt adhesives have excellent solvent, heat, oil, grease, and plasticizer resistance. They are also high in strength and adaptable. These characteristics make them an excellent choice for challenging, low-energy substrates. Because of their chemical and high heat resistance, polyamide-based hot melt adhesives are commonly used in filtration, automotive, electronics, and aerospace applications.
Polyutheren-Based Hot Melt Adhesive- One of the earliest known hot melt technologies is polyurethane-based hot melt adhesives. They have high thermal stability and are best suited for carton, case, and tray sealing implementations. Because of their strong adhesive bond strength capabilities, they are especially suited for building materials, bookbinding, and automotive.
Bio-Based Hot Melt Adhesive– Bio-based hot melt adhesive innovation is designed specifically for sustainable development and resource efficiency applications. This is in response to growing market interest in these types of preparations to help reduce dependence on petroleum-based natural resources while also lowering the carbon footprint of manufacturing facilities.
Hot Melt Adhesive Benefits
Hot melt adhesives (HMA) are as diversified as there is countless application. Hot melts are often used via extrusion, rolling, or spraying, and their high melt viscous makes them perfect for porous and permeable surfaces. HMAs can bond a wide range of substrates, including ceramics, metals, plastics, paper, rubbers, glass, wood, etc.
The Packaging Industry is Spurring the Demand for the Hot Melt Adhesive Tape
In the packaging sector, handling of the goods is taken into due consideration and impacts the business if the proper measures are not implemented. These solutions need an adhesive that binds the package in good condition, so there is no damage and opening of the carton or package. Corrugated boxes were the largest single product category in 2018, accounting for 33.3 million tonnes, or 11.4 percent of total generation in MSW as per EPA. Corrugated boxes are also the most common type of reprocessed paper and paperboard cartons and packaging. In 2018, 32.1 million tonnes of corrugated boxes were reused out of 33.9 million tonnes of paper and paperboard reprocessing. Corrugated boxes were recycled at a rate of 96.5 percent. After recycling, corrugated box combustion was 230,000 tonnes, and landfills obtained 940,000 tonnes in 2018. These data show that many boxes or cartons are used for maximum packing, which is expected to boost the demand for the hot melt adhesive tape market globally over the forecasted period.
The Asia-Pacific is Expected to Lead the Growth of Hot Melt Adhesive Tape
The growing demand for the packaging sector in the transport and logistics industries is expected to drive up the requirement for hot melt adhesive tapes. Qualities such as high peel strength and excellent insulation are expected to boost hot melt adhesive tape revenues and push the hot melt adhesive tapes market growth over the projected timeline. Furthermore, package makers presently use bioplastic materials such as PHA, PLA, and others to manufacture hot melt self-adhesive tapes. Bioplastic components used in hot melt self-adhesive tapes have better tensile strength and can be printed on, anticipated to propel the market share of hot melt adhesive tapes.
Hot melt adhesive tape revenues are expected to rise as they aid in preserving clean environments.
Recent Developments
Hot Melt Adhesive Tape Market Scope:
Introducing Thermal Barrier Coatings Technology for Automotive Applications
BlogThe global thermal barrier coatings market is evaluated at US$12.152 billion for the year 2020, growing at a CAGR of 4.09%, to reach a market size of US$16.092 billion by the year 2027.
Thermal Barrier Coatings (TBCs) insulate parts in machinery that run at high temperatures, such as power plants, ducting and nozzle guide vanes, aircraft parts, and other metallic surfaces. TBCs enable poor thermal conductivity and thermal expansion, as well as high thermal expansion for gas turbines, in addition to high efficiency at high temperatures. TBC demand in reciprocating engine operations is predicted to rise as a result of these considerations.
Expansion of Air Cargo and Power Consumption
The need for thermal barrier coatings is expected to expand significantly throughout the forecast period, owing to the increasing significance of air cargo delivery and the increasing number of air passengers. Furthermore, rising global power consumption, particularly in emerging nations, and rising technological innovation are likely to drive the growth of the thermal barrier coatings market during the forecast period.
Technological Advancement Funding the Market
Thermal barrier market expansion will be aided by technological advances. With the help of technology, it is now feasible to make thermal barrier coatings that are more efficient. Many end-users are attracted to this technology because of its effective coating and operations. Another important development is the funding of thermal barrier research. The market study is paving the way for a new product line. Thermal barrier coatings are in high demand in many developing countries. As a result, there is a lot of research going on to create a new variety of these coatings. Thermal barrier coating is becoming more popular in the aerospace industry. It is attracting capital from the market. Many good improvements will occur in the market as a result of growing investments.
During the forecasted period of 2022-2027, the High-Velocity Oxy-fuel segment retained the maximum concentration in the Thermal Barrier Coatings market
The coating technology is divided by the plasma spray, combustion flame spray, high-velocity oxy/air fuel, arc spray, cold gas and others. The HVOF technology category has the biggest revenue share because it allows for the use of a wide range of coating materials, including ceramic, metals, and other alloys, to provide coatings. Strong corrosion resistance, fine-as-sprayed surface finishes, high adhesion qualities, and low oxides levels are all features of the coating applied using HVOF technology. HVOF spraying technique is that the coatings are exceedingly dense and durable, and they can typically be created at low temperatures. Surface engineering techniques are utilized in thermal barrier coatings, which improve equipment life by boosting erosion or wear resistance, as well as corrosion protection. This technology allows for use of a wide range of materials, including metals, ceramics, and alloys, to create coatings with exceptional hardness, better adhesion, and corrosion resistance and good Strong corrosion resistance, fine-as-sprayed surface finishes, high adhesion qualities, and low oxides levels are all features of the coating applied using HVOF technology. This market is divided into four categories: automotive, industrial, energy, and aerospace.
Ceramic Segment to Share the Highest Revenue in the Thermal Barrier Coatings Market
Metal, ceramics, intermetallic, and other product types are used to categorise the thermal barrier coatings market. Due to the high thermal resistance characteristics of ceramic TBCs, the ceramic segment accounts for the highest revenue share in the market. Engine turbine blades, for example, can work at high temperatures in the automotive and aviation industries, potentially increasing the thermal efficiency of equipment (engines, etc.) by up to 60%. Coating materials including such Al2O3, ceramics YSZ (yttria-stabilized zirconia), MCrAlY, and others are also used to categorize the thermal barrier coating market. The low thermal conductivity and excellent thermal stability of Al2O3 coatings, the Al2O3 category is predicted to account for the greatest market share over the projection period. Furthermore, alumina is chemically inert and has a high hardness, both of which are important in the manufacture of composites. Engine turbine blades, for example, can work at high temperatures in the automotive and aviation industries, potentially increasing the thermal efficiency of equipment (engines, etc.) by up to 60%.
Automotive Industry Has the Highest Application in the Thermal Barrier Coatings Market
The application is divided of the thermal barrier coating is divided into power generation, aerospace, automotive and others. The maximum market share is accounted from the automotive industry. In aviation gas turbines, thermal barrier coatings are often used to prevent nickel-based superalloys from melting and thermal cycling. According to the American Society of Mechanical Engineers, aviation gas turbine sales in 2020 will total $44.6 billion, down from $74.7 billion in 2018. The loss was completely attributed to a 46 percent drop in output in the commercial aviation industry over two years. In a commercial airplane engine, for example, the fuel burns at temperatures of up to 2,000°C inside the combustion chamber. The turbine, which requires energy from the warmed gases and provides engine power, is subjected to gases with temperatures ranging from 850 to 1700 degrees Celsius. As a result of this significant benefit of Thermal Barrier Coatings, the gas turbine segment is projected to dominate the global market.
Stringent Government Regulations
The government’s strict environmental regulations will cause a decrease in protective coatings. When people inhale the coatings product, it can cause respiratory issues. Most of these coatings have dangerous chemical particles in them. It is also not an environmentally friendly coating. As a result, many countries have imposed strict regulations on using thermal barrier coatings. These regulations will slow the use of thermal barrier coatings throughout general. In the next years, government legislation will increase, resulting in greater restrictions. However, in some areas, using this product has a number of drawbacks.
High Price Fluctuation
The price of these thermal coatings is always fluctuating, which has an impact on growth. The manufacture of this coating necessitates a large number of basic components. Raw materials, in particular, are expensive and scarce in many areas. Price volatility is caused by a scarcity of raw materials. The price discrepancy is higher due to raw material fluctuations. The need for thermal barriers may decrease as prices rise. Furthermore, in some areas, a lack of awareness can have an impact on demand. Regions with less investment, in particular, have a lower awareness of heat barrier coatings.
North America Region is Expected to Grow Substantially Over the Forecast Period
The thermal barrier coating market, by geography, is divided into North America, Europe, Middle East and Africa, Asia Pacific and South America. Over the forecast period, North America dominated the global market, accounting for the highest revenue share. The United States dominated the regional market in North America, and this number is steadily. Growing product demand from various applications such as static power plants, aerospace, automotive, and others, as well as the availability of highly skilled labour, high disposable incomes, and the strong economies of the region’s countries, are the main reasons for an increase in air traffic in North America.
In terms of market share, Asia Pacific is the fastest-growing region in the worldwide thermal barrier coatings industry. This is due to rising global demand for power and greener solutions, as well as the expansion of the region’s industrial and automotive industries. Due to an increase in the number of power generation and demands for vapour deposition technology, countries like India and China are likely to contribute considerably to market growth. Because of recent growth in the energy and aerospace sectors, the European market is likely to increase significantly.
The COVID-19 Hampered the Thermal Barrier Coatings Market
Covid 19 has a negative impact on industries all over the world. During this time, the market for thermal barriers coatings is seeing a decline. In addition, the economic downturn is a major factor in the market’s downward path. The market will be severely impacted by supply chain disruptions. Furthermore, end-user demand for coatings is decreasing. The car industry, in particular, is experiencing a drop in demand. The overall supply of automobiles has decreased dramatically. It lowers the market’s investment from the user’s perspective. In addition, due to global limits and lockdowns, the application of thermal barriers coatings is slowing. All of these obstacles have altered the market environment for thermal barriers. The market outlook appears to be favourable following Covid 19. The market’s demand is predicted to continue to rise in the forthcoming years.
Thermal Barrier Coatings Market Scope:
Shared Mobility- Carpooling That Matters
Thought ArticlesThe shared mobility market was valued at US$177.517 billion in 2020 and will increase to US$516.541 billion by 2027. Over the forecast period, this market is estimated to increase at a compound yearly growth rate of 16.48%.
Shared mobility is a traveling service in which businesses arrange for commercial cars to transport people from one location to another. The owner of a fleet of commercial cars lends it to the organization, which utilizes it to deliver services including hiring, ride-sharing, and mobility. The charge is solely based on the passenger’s travel time and distance to their destination. Due to various factors such as rapid urbanization, increased environmental concerns, limited energy resources, and economic concerns, the trend of shared transportation has exploded in recent years, and this trend is expected to continue to augment the global shared mobility market during the forecast period.
According to analysts, the increasing demand for shared mobility owing to its convenience and cost-effectiveness will be the driving force behind the market’s robust growth over the forecasted timeframe.
Shared mobility is a growing market that is both cost-effective and environment-friendly. Peer-to-peer vehicle sharing, pooled ride-sharing, shared electric scooters, and other new modes and services have arisen. The possibilities for integration, automated operations, customized travel on demand, and environmental friendliness have all contributed to their rise. One of the primary aspects propelling the shared mobility market is the increasing adoption of linked cars and smartphones. The expense of road vehicles and fuel, combined with a reduction in parking, is expected to promote market growth in the coming years, particularly in industrialized countries around the world. Furthermore, compared to other forms of transportation, shared mobility solutions are less expensive and avoid limited parking issues.
Various governments throughout the world are developing programs to encourage the adoption of these solutions to minimize traffic congestion. This has a substantial impact on commuters’ lifestyles and the market as a whole, such as enhanced accessibility, better transportation, less driving, and lower personal car ownership. The government’s £ 3.4 million six-month pilot project for electric taxis in Nottingham City, which began in January 2020, is the best illustration of this growth factor. Through this effort, Nottingham City Council hopes to promote cleaner taxis in the city and achieve its objective of becoming environmentally safe by 2028.
Many competitors are employing strategic investments and alliances to satisfy this progressive paradigm shift and customer needs, increasing market growth. The best illustration of this is the Yamaha Motor. Yamaha Motor’s shared mobility subsidiary, ‘MBSI’ (Moto Business Services India), joined the Indian two-wheeler services sector in February 2022, when it made an undisclosed investment in Royal Brothers, a motorbike rental company. By combining its financial and strategic experiences, the company hopes to work with numerous more mobility companies while altering India’s shared mobility ecosystem. Chalo, a Bangalore-based smartphone app that books and tracks buses between cities, also purchased Vogo, a two-wheeler shared mobility business venture, in March 2022. As part of the deal, Vogo intends to convert all of its vehicles to EVs (electric vehicles), expand its services beyond two wheels, and provide additional EV models to meet market demand.
Shared Mobility’s market expansion could be hindered by safety concerns
The shared mobility market has some limitations that could stymie its potential growth, such as a lack of preference for traveling with strangers while sharing transportation, as well as growing concerns about the theft of private information, and the requirement of taking a longer common route because of sharing transportation, all of which have the potential to stymie the market’s growth in the above-mentioned ways.
During the forecasted time frame, the ride-hailing segment in the Shared Mobility market is predicted to have a dominating share
The rise in the segment is attributable to the increasing use of the internet in emerging countries and by people all over the world. Uber, for example, provides a variety of business models, including UberSUV, Uber Black, UberTax, and UberLUX, all of which feature the use of specialized Uber vehicles and drivers in the rental sector. Easy bookings, higher traffic congestion, passenger comfort, and greater government campaigns to raise public awareness about air pollution all contribute to the growing demand for ride-hailing services.
During the projected period, the two-wheelers segment is expected to surge at an exponential rate in the market
The Shared Mobility market by vehicle type is divided into three categories: two-wheelers, cars, and others. Two-wheeler services are likely to grow in popularity in the next years, as they are regarded as the quickest and most efficient mode of transportation on congested city streets. The United States, China, Spain, and Italy are among the countries with the largest use of these services. In the ensuing years, many European municipal governments have issued tenders to implement Bicycle Sharing Schemes (BSS). Government initiatives like this are likely to enhance the demand for two-wheeled vehicles.
The shared mobility market in the Asia Pacific is predicted to develop at a lightning rate
The Shared Mobility market is classified into five regions based on geography: North America, South America, Europe, the Middle East, Africa, and the Asia Pacific. The Asia Pacific region is expected to account for the largest revenue share in the Shared Mobility market over the projected period. Because of rising on-road vehicle traffic and car ownership prices in nations like China and India, the Asia-Pacific region leads the way in shared mobility. Furthermore, the region’s prosperity is being fueled by widespread technology usage and the increasing proliferation of smart homes. These services have a strong growth potential in developing countries like India, where urban populations are expanding and transportation infrastructure is being constructed. As a result, a regulatory climate that is favorable to their adoption has emerged.
Covid-19 Insights
The COVID-19 epidemic has had a negative influence on Shared Mobility. During the pandemic, corporations implemented a lockdown and a work-from-home policy, which resulted in a reduction in shared mobility market sales. Customers’ anxiety about traveling in enclosed automobiles has delayed the market even more.
Shared Mobility Market Scope:
Carton Sealing Adhesive Tape Material – Beholding the Strongest Foundations
BlogThe carton sealing adhesive tape material market is expected to grow at a compound annual growth rate of 6.11% to reach a market size worth US$46.582 billion by 2027. This market was valued at US$30.749 billion in 2020.
Adhesives are a type of synthetic chemical which is used to stick things together. These are the chemicals that are used to keep two surfaces securely connected for a long time. As the name implies, carton sealing tapes are tapes that are used to seal cartons. Carton sealing or packing tapes are pressure-sensitive tapes made up of pressure-sensitive adhesive and fiberglass filaments on a backing material (usually polypropylene or polyester film). On the market, there is a big selection of carton sealing tapes that can be acquired both offline and online.
Analysts anticipate that the market will grow due to the growing demand for carton sealing adhesive tapes in various industries during the forecast period.
The rising use of carton sealing tape in various applications such as food & beverages, electronic parts, consumer goods, cosmetics, packaging, and others, as well as the growth and expansion of the packaging industry, particularly in developing economies, and the expansion of energy production infrastructure in countries such as India and China, are driving the carton sealing adhesive tape market growth. Because so many consumer goods are transported in single parcel shipments, the safety of single parcel shipping has become a real concern for e-commerce enterprises. As a result, these tapes are an excellent solution for these players, as they provide excellent package sealability and closing.
As wholesalers and distributors want more packaged food and beverage items in bulk, the valuation of the carton sealing tape market is rising. The market value of carton sealing tapes will be boosted by growing demands for water-activated carton sealing tapes for industrial and commercial applications, as well as the rapid expansion of the food and beverage sectors. The growth and expansion of the e-commerce business, particularly in developing nations, the rise in customer preferences for retail formats, the ever-increasing worldwide population, and rising personal disposable income are all secondary factors that are driving the carton sealing tape market growth rate. In the long run, increased consumer demand will give prospects for expansion.
Furthermore, to meet future demand, several of the market’s leading competitors are actively undertaking research and development efforts that enable them to produce new products. For example, in September 2019, 3M released Scotch High Tack Box Sealing Tape 375+, an industrial or manufacturing tape that may be used for box sealing, splicing, recuperation, and other packaging applications. Monta also developed a new self-adhesive tape, Monta bio pack, in February 2020, which is a sustainable self-adhesive tape made up of a bio-based film and a natural rubber adhesive made up of primarily renewable primary resources.
The fluctuation in raw material prices will damper the market growth at a global level.
Any sort of packaging tape maker must consider the price & availability of raw materials when determining the cost structure for its goods. The market’s growth is influenced by the uncertainty and changes in the cost and availability of feedstock. Higher manufacturing costs as a result of rising energy costs are affecting the adhesives business. The growth in raw material prices has also been caused by the continually rising worldwide demand for chemicals and capacity restrictions in the supply of these key chemicals and resin feedstock. The cost of sealing and strapping packaging tapes has increased due to supply limitations of monomers required to create adhesive raw materials such as Piperylene and C9 monomers. As a result, price changes in these raw materials operate as a constraint on this industry.
The water-based technology segment is anticipated to witness an extraordinary market share.
The water-based adhesive tapes market is being driven by a constant growth in demand from the building and construction industry, owing to large development projects in India, Taiwan, and other growing countries. Water-based technology adheres to a wide range of surfaces and is used in a variety of packaging applications. Water-based technology is environmentally safe and does not release any VOCs during formulation, hence the demand for these tapes is growing. The growing demand for water-based adhesive tapes around the world is owing to the aforementioned reasons.
The logistics segment is anticipated to develop at a neck-breaking speed.
Because of advancements in transportation technologies and increased acceptance of flexible packaging choices, the logistics and packaging sector is growing. Carton sealing adhesives tapes are becoming more popular in packing due to their application in sealing heavy-duty goods that require more protection from external barriers. The increasing use of adhesive tapes in the shipping of perishable goods, temperature, and pressure-sensitive commodities to provide more effective transit is driving up adhesive tape demand. The market is also growing due to the rising demand for various adhesive solutions that give better protection against leakage and seepage of solid items or fluids.
According to regional analysis, the Carton sealing adhesive tape market in the Asia Pacific is expected to grow expeditiously.
The region’s expanding transportation industry, combined with a growth in online shopping, is expected to enhance the use of carton-sealing packaging tapes. The high economic growth rate in the region is mostly owing to huge investments in numerous industries including automotive, healthcare, electrical and electronics, and building and construction. Several businesses, notably Nitto Denko of Japan and Ajit Industries of India, are building new plants or expanding their existing adhesive tape manufacturing operations. The low cost of production and the potential to better service local rising markets are two advantages of relocating production to the Asia Pacific. The overall value of social logistics climbed 5.9% year on year at base prices to CNY 163.8 trillion in the January 2019 to July 2019 period, according to the National Development and Reform Commission. Furthermore, the volume of industrial product logistics climbed 5.8% to CNY 148.5 trillion years on year.
COVID-19 Insights
The carton sealing adhesive tape sector has had a mixed bag of results around the world. The upstream supply chain of carton sealing adhesives was harmed because of trade and transit limitations between countries, as companies had trouble obtaining raw resources such as glue and other chemicals from other companies. However, in some applications, large growth in end-user demand has substantially broadened the reach of this paper packaging. An increase in food packaging with an ever necessity for corrugated packaging in developing e-commerce shipments is two of the primary drivers of the analyzed market that developed from the COVID-19 epidemic. On e-commerce platforms, there has been a significant increase in demand for the packaging of food, medical supplies, and e-commerce shipments.
Carton Sealing Adhesive Tape Market Scope:
Evaluation of How Fracking Fluid Has Upturned the Chemical Industry
BlogThe fracking fluid and chemicals market is estimated to be valued at US$26.724 billion in 2020.
Chemicals used in hydraulic fracturing are known as fracking fluids and chemicals. Hydraulic fracturing is a method of releasing natural gas and oil from subterranean rock by injecting fluid with sand and chemicals under high pressure. More sustainable energy is now available thanks to hydraulic fracturing. Fracturing fluids and chemicals are being used to reduce frictional pressure loss, create a wide fracture by employment and income generating pressure drop, and preserve well stability, among other things. These are used in hydraulic fracturing to prevent corrosion, dissolve minerals, stabilise the product, prevent scale deposition, and maintain fluid viscosity, among other things.
The global fracking chemicals industry has been dominated by rising demand for oil and gas as a result of rising fuel and energy demand due to an expanding population. Furthermore, the fracking chemicals industry is growing due to a shift in trend toward horizontal drilling, which has a systemic mechanism for recovering unconventional shale reserves using hydraulic fracturing technology. In addition, the continuous development of unconventional oil and gas sources in order to enhance energy security and reduce reliance on imported oil imports in many nations is moving the product market forward.
The Shift in Drilling Wells From Vertical to Horizontal
There has been a huge surge in horizontally fracking activity in recent years. This process demands a higher volume of fracking fluids and chemicals. As a result, the need for fracking chemicals and fluids s has been steadily increasing. Over the forecast term, the tendency is expected to continue. Increased energy consumption necessitates greater exploration, which leads to increased demand for fracking fluids and chemicals. When opposed to vertical drilling, horizontal drilling has a lower environmental impact. Oil and gas firms can extract the same amount of oil and gas from a horizontal well as they do from a score or more vertical wells.
Water-Based Fluids Are the Most Often Employed Fracking Fluids
The market is divided into water-based, oil-based, gelled based and others. The type of fracking chemicals being used may also be determined by cost, technological intricacy based on geological conditions, and environmental impact. Water-based fluids are the most often employed fracking fluids because to their versatility and cost-effectiveness. Water-based fluids are non-viscous, have low particle concentrations, and can be pumped at a faster rate to achieve narrow cracks. Complex fractures are possible thanks to the different features of water-based fluids, such as high fluid efficiency, low particles concentrations, and higher compression rate. Aqueous, brine, saturate or formic acid brine are all examples of water-based fluids. Over the projection period, rising concern about the impact on the environment of oil and gas activities is expected to drive up demand for water-based fluids. Oil-based fluids are employed in small amounts in the hydraulic fracturing sector due to the negative environmental impact associated with water outflow. However, as environmental concerns and ecosystem harm grow, semisolid petroleum fluids are projected to rise in popularity.
The horizontal well segment accounted for a large portion of the fracking fluid and chemicals market.
The market is divided into vertical and horizontal well type. Horizontal wells allow drillers to access a much larger area and produce oil from a reservoir at a much slower rate. Vertical wells, on the other hand, produce oil in a short period using shorter boreholes. The diverse effect connected with the flowing pattern of horizontal drilling is reduced throughout the long drain, resulting in an increase in total production. Within a big field, horizontally drilled wells provide accessibility to do it by and separated gas and oil accumulations. This enables massive amounts of natural gas to be extracted. It allows more energy to be harvested with fewer wells, making it more efficient and productive than before.
Gelling Agent Segment Held a Significant Share in the Fracking Fluid & Chemicals Market
The market is divided into water-Based, oil based, gelled based and others. Fluids are often delivered in one of two ways: high viscosity or high rate. For this, a gelling agent is used to thicken the water, enabling higher viscosity fracturing chemicals to be injected, causing the fractures to grow significantly. Friction reducers work by lowering pipe friction, allowing for greater injection rates. Buffers are used to keep the pH of fluids stable even under extreme conditions like high temperature and pressure. The clay control agent helps stabilise the clay in shale structure by reacting with clays in rock and formation via sodium-potassium ion exchange.
Impact on the Environment
There have been several public worries about the use of water in areas with limited supplies, as well as pollution and other environment risks associated with fracking. Foam-based fluids can help industry overcome these challenges by utilising and capitalising on them. This method uses less water than standard cracking and might help firms answer public concerns about fracturing’s environmental effects. Backflow of water can contaminate surface and groundwater, and tight rules prohibiting use of such fracking fluids, as well as a growing demand for alternatives, are limiting the worldwide fracking fluid and chemicals market’s growth. For example, Halliburton Company has begun producing organic drill muds from guar gum in order to diversify its product line and comply with the US EPA’s strict restrictions prohibiting the use of harmful fracking chemicals. Non-toxic drilling fluids, such as foam-based fluid (FBF), are also being developed as a replacement for hazardous oil-based fluid (OBF), which itself is hard to retrieve from the drill hole. During the projected period, these technological innovations are expected to offer lucrative growth possibilities for participants in the worldwide fracking chemicals market.
During the Forecasted Period, the North America Region Will Show Robust Growth
The fracking fluid and chemicals market, by geography, is divided into North America, Europe, Middle East and Africa, Asia Pacific and South America. The North America region holds the largest share and is predicted to grow at an increasing rate in the fracking fluid and chemical market. The region’s drilling business is well-developed, the region’s demand for fracking chemicals is strong. The United States, in particular, is well drilling and exploration business and so controls a significant portion of the global market.
In terms of revenue, the Asia Pacific area is expected to expand the fastest throughout the projection period. Rising energy production and supply are likely to continue to be major drivers of market expansion. The majority of oil and gas exploration and production is currently concentrated in China, South Korea, Australia, and India.
The Impact of the Outbreak of COVID-19 on the Fracking Fuel and Chemicals Market
The COVID-19 pandemic had a significant impact on the fracking fluid and chemical business, as upstream operations for oil and gas came to a standstill owing to reduced demands for oil and gas, resulting in low commodities prices. In the United States, for example, the cost of WTI (West Texas Intermediate) oil has dropped to USD 14 per barrel, down from USD 63 per barrel at the start of the year. The fracking method is extremely expensive, thus it was not feasible in a circumstance where they only had a few projects.
Global Fracking Fluid And Chemicals Market Scope:
Male Consumer Base to Accelerate the Cosmetic Antioxidants Market
Thought ArticlesThe Cosmetic Antioxidants market size was valued at US$108.146 million in 2020 and is anticipated to increase at a Compound Annual Growth Rate of 5.67% over the predictive period to reach US$159.101 million by 2027.
Antioxidants are substances that aid in the prevention or reduction of cell damage caused by free radicals, which are unstable molecules created by the body in reaction to environmental and other conditions. When the body’s ability to manage and remove free radicals is compromised, oxidative stress arises. Cells and physiological functions may be harmed as a result of oxidative stress. Oxidative stress has been linked to heart disease, cancer, arthritis, stroke, respiratory disorders, immunological insufficiency, emphysema, Parkinson’s disease, and other inflammatory or ischemic issues.
Antioxidants are available in both organic and inorganic forms. Plant-based foods, particularly fruits and vegetables, are the richest providers of antioxidants.
The following list describes the natural sources of antioxidants.
Antioxidants have been increasingly used in the cosmetics industry for their anti-wrinkling and skin nourishment properties. Antioxidants have also been known to provide protection against the harmful effects of sun rays.
Applications of Cosmetic Antioxidants
Skin Care: Oxidative stress triggers inflammation and disrupts the skin’s natural repair process. Antioxidants can aid in the prevention and correction of these apparent indications, giving skin a fresh appearance. It reduces the inflammatory response of the skin to the sun’s damaging rays, avoiding sunburn and enhancing sun damage and photoaging prevention. Antioxidants help the skin rebuild itself and mend apparent damage by lowering inflammation. Antioxidants can help prevent skin pigmentation by minimizing photodamage. Some antioxidants, like vitamin C, help to suppress tyrosinase, an enzyme that promotes the synthesis of melanin, causing skin pigmentation. Antioxidants can also help in reversing the side effects of makeup and cosmetics by slowing down the skin’s aging process and providing a radiant glow. It helps in minimizing age spots, sun spots, fine lines, etc.
Haircare: An antioxidant hair product serves the same goal as an antioxidant face product. It inhibits the oxidation process, protecting the hair from the damaging effects that aging and environmental factors might have caused. Hair aging results in the development of white and grey hair, hair thinning, slower hair growth, and hair becoming more porous, dull, and brittle. Antioxidants in hair shampoos and serums can help in repairing hair damage and maintaining hair density.
Growing Market Trend: Male Cosmetic Products
The male cosmetics market has seen a significant increase in demand worldwide. The increasing market demand can be a result of the increasing disposable income among young adults. Moreover, the market has also reported a growing concern among individuals for skincare and related products to maintain proper skin health. Skin concerns among the male population include wrinkles, dark patches, and dullness. As a result, the men’s cosmetic antioxidants market has seen a demand for skin care products such as anti-aging, moisturizing, nourishing, and sun protection lotions. Moreover, the growing trend for online shopping has also resulted in an increase in demand for such products.
Asia Pacific Region to Lead the Market
The Asia Pacific market has been reported to have the largest market share in the cosmetic antioxidants market. Owing to the increasing population and demand for cosmetic antioxidants, the market is expected to rise. Also, the increasing disposable income and the awareness of skin-friendly products among people in the region have positively influenced the cosmetic antioxidants market. Moreover, the growing product innovations have increased the demand for cosmetic antioxidants in the region.
The increasing climate change effects worldwide have led to an increase in skin diseases and dermatological disorders. Sunburns, contact dermatitis, and skin cancer have been on the rise, which has led to an increase in growth opportunities for the cosmetic antioxidants market. Products such as Sunscreen lotions, anti-inflammatory gels, and face washes have reported steady growth in the market.
Covid-19 Insight
The COVID-19 virus pandemic resulted in a global financial catastrophe. The cosmetic antioxidants market sustained considerable losses as a result of most major nations enacting lockdown laws and social distancing protocols. Due to the closure of industries and markets, the disposable income of consumers declined drastically, which resulted in a decline in the haircare and skin product market. Most manufacturers were also faced with a steep decline in the supply of raw materials, due to the disruption of production and supply lines in the market. Moreover, a decline in the availability of labor also affected the cosmetic antioxidants market.
However, the market has been reported to be recovering, as most countries have lifted their lockdown protocols. Furthermore, the market has also reported a growth in the demand for premium skin care products among consumers. Additionally, the growing online shopping trend has also resulted in an upliftment of the market. Hence, these factors are anticipated to contribute to an increase in demand for the cosmetic antioxidants market.
Cosmetic Antioxidants Market Scope:
IIoT Platform – A Real-Time Platform
BlogThe Global IIoT Platform Market is expected to grow at a compound annual growth rate of 13.79% to reach a market size of US$21.729 billion by 2029.
The Industrial Internet of Things platform, or in short, the IIoT platform, is a technological system that efficiently connects frontline industrial operations and processes with the aid of the backend information systems to power the rapidly evolving digitalization. Simply put, they extract and combine the real-time data sets from the enterprises’ software and hardware systems, sensors, and other data points into a centralized platform by means that were formerly impossible. By shortening the gaps between multiple systems, machines, and people, they facilitate the engineers to design or configure new applications to make their operation processes smooth and efficient. IIoT platforms are actively being used to make data-driven decision-making by optimizing control, connectivity, data analytics, and forecasting. The platform also helps enterprises to get insights into the factors impacting production, downtime, quality control, and waste. IIoT Platform Market is typically segmented based on the type of platform, applications, end-user industries, and geographical regions.
Analysts anticipate that the rapid adoption of Industry 4.0 and IoT is driving the momentum of the Industrial IoT platform onward.
Industry 4.0 and the emergence of IoT have propelled automation like never before, enabling the system to make precise instantaneous decisions exploiting the real-time data. Through this, the firms can monitor all their data and assets remotely while also optimizing the operation processes efficiently. Owing to this, many enterprises from multiple industries are stepping up to adopt the IoTs into the core of their operational processes. For instance, according to the statistics derived by Honeywell in 2019, about 66 percent and 68 percent of Saudi Arabia and UAE-based enterprises firmly believed IIoT is essential for business operations and, in the next five years, will become the crucial link for many business operations. Furthermore, 64 percent and 72 percent of the enterprises in Saudi Arabia and UAE have remarked about their goals to invest in IIoTs. Exploiting this, many IIoT platform providers are gearing up to launch new offerings of IIoT platforms. Ivanti Wavelink’s launch of the new IIoT platform, Ivanti Neurons, in January 2022 is the best example of this. Ivanti Neurons links the devices, machines, systems, and workers to provide insights, optimize productivity, and enhance visibility. Furthermore, the initiatives taken by the governments of multiple cities, including Singapore, Dubai, Oslo, and many others, to develop Smart cities are further expected to boost the market. The advent of autonomous automobiles is also expected to add impetus to the growth of the IIoT platform segment. The UK’s Department of Transport’s report, for instance, forecasts that about 40 percent of new cars in the UK are expected to feature self-driving attributes by 2035, with the total market valuing £41.7 billion.
According to regional analysis, the IIoT platform market in North America is expected to hold a significant share during the projected period.
By geography, the IIoT Platform Market is segmented into five regions: Asia Pacific, Europe, North America, South America, and the Middle East and Africa. According to analysts, North America is expected to hold a dominant market share of the IIoT platform market. Among the countries presiding in the region, US and Canada are expected to predominantly propel the market share, owing to the sustainable ecosystem in IIoTs, which is powered by the countries’ well-established economies. Furthermore, the region also houses many leading enterprises from multiple industries, including manufacturing, healthcare, autonomation, and many more, integrating the cloud, AI, and IoT technologies in their core operations. Furthermore, the government initiatives to develop smart cities in the cities like New York and Boston are further expected to boost the market in the region.
According to analysts, the lack of skilled human resources and rising cyber fraudulence due to increased digitalization are expected to constrain market growth.
Though the advent of IIoT platforms has enabled easy and efficient optimization and management of the data, it has also increased the complexity of networks and data flow. The processes such as data integration, predictive analysis, and forecasting require technical knowledge. Thus, there is a strong demand for skilled workforce for effective management of operations and also necessitates regular upskilling and training of the employees to keep up with the advancing technologies. Furthermore, though the advancing technologies and digitalization have changed lifestyles for the better by creating a centralized environment, they have also made the operations vulnerable to risks associated with it. The increasing cyber risks and fraudulence are further soldering this. For instance, as per the statistics derived by Identity Resource Centre, the incidence of data breaches increased by 68% in 2021 from the former year. Data breaches in Twitter in July 2020, Marriot in March 2020, Ikea Canada in May 2022, and Mail Chimp in April 2022 are a few examples. Thus, enterprises are facing key challenges in maintaining and protecting the security of their data.
Covid-19 Insights
The global pandemic had a negative impact on the IIoT platform market. The mandated lockdowns, surge in infected cases, and social distancing had led to the closure of many production units, either partially or wholly. Many end-user industries of the IIoT platform market, such as automotive, manufacturing, semiconductor, and automotive, for instance, had taken a toll. For instance, according to EU member states, many automotive production facilities were closed across the European region for about thirty days, on average. A similar scenario was observed in many other regions as well. The rapidly increased number of active infected cases had further affected the staffing in the industries, further affecting productivity. Consequently, due to the global economic recession, many companies were forced to briefly halt or postpone their projects related to the IIoT segment. Nevertheless, the industry saw an increase in demand post-covid as the pandemic had caused industries to shift their attention to automation to increase productivity while keeping manual intervention at a minimum.
IIOT Platform Market Scope:
Superior Performance of the Carton Sealing Adhesive Tape
Thought ArticlesThe Carton Sealing Adhesive Tape Market was worth US$30.749 billion in 2020 and is projected to expand at a 6.11% CAGR over the predicted period to reach US$46.582 billion by 2027.
Adhesives are manmade substances that help objects stick together. These are the chemicals that are used to keep two surfaces securely connected for a long time. As the name implies, cartons wrapping tapes are tapes that are used to seal cartons. These seem to be pneumatically tapes made up of a pressure-sensitive adhesive and fiberglass filaments on a backing material (usually polypropylene or polyester film). On the market, there is a big selection of cartons sealing tapes that can be acquired equally internally and externally.
Whenever it comes to protecting products from external shocks, rigid packaging is often favoured. The widespread use of cartons is helping for cartons sealing tapes all around the world. The advent of tamper-evident technologies has helped the carton sealing adhesive tape market grow even faster. These include ease of application, and inexpensive raw material costs, water-activated tapes are another type of carton sealing adhesive tape, with increased printability through the use of biodegradable adhesive and supporting materials.
E-Commerce Expansion
Consumer inclination for e-commerce is heading up the use of carton sealing adhesive tape, which is positively impacting the market. Furthermore, pressure-sensitive tapes account for the greatest portion of the carton sealing tapes market, and pressure-sensitive tapes’ inefficiency on dusty surfaces may limit the industry’s expansion. The acceptance of the carton sealing adhesive market as the products are shipped via palletized loads in bulk, necessitates the use of standardized automated packaging equipment, which employs a film-based pressure-sensitive packaging tape due to its efficiency in automated applications. However, because the distribution in the e-commerce business is manual, a carton sealing adhesive market is the ideal answer due to its qualities such as sealing hefty boxes and packaging of unpacked products which are utilized for moving, shipping, and distribution while offering flexibility. Due to its versatility, carton sealing adhesive market for sealing massive cartons and bundles of packed-up product lines that can be used for distribution and delivering, shipping, and in the e-commerce business. Its qualities include far has, easy to handle, accountability, and barrier to oxygen. As a result, as the e-commerce sector grew, so did the use of carton sealing adhesive. Ave market. According to data from export.gov, there have been 19.8 million e-commerce customers in Canada in 2018, with another 5.21 million expected to shop online by 2021.
How PPP Material Is Useful?
The aforementioned material is superior by the pressure and damage tolerance which is likely to lead to its use in packages for supply networks of direct sales channels. Polypropylene packaging materials also have a good level of water resistance and flexibility. In the next eight years, the advancement of innovative products with addition to giving such as high aging and UV resistance, as well as compatibility for personal and automated processing.
Emergent of the Water-Based Carton Sealing Tapes
Its applications include medium and heavy-duty carton sealing, gift wrapping and decoration, general repair, bundling and strapping, and stationery. Increased use of tapes and stickers in the plastic wrapping of consumer electronic devices, hygiene and medical packaging, packaging of drug delivery systems, packaging of building material during transit, shipping pertaining to automobiles and logistical support, and packaging of consumer and industrial goods are just a few factors that are expected to grow the water-based adhesive market forward. Furthermore, water-based adhesives provide a variety of essential qualities such as durability, adaptability, and cost-effectiveness, propelling the water-based adhesive market to new heights. Furthermore, the rising demand for lightweight, low-polluting automobiles is another aspect propelling the industry forward.
Customers are more interested in adding new cosmetic aspects to their automobiles. These are commonly used for automotive customization for a variety of purposes, including covering, spray painting, varnishing, and sealing. Additionally, sludge dismantling of paper adhesive tapes during car paintwork reduces time spent and additional work. The capacity to give excellent surface protection and a clear paint line following surface painting has increased their popularity among end-use sectors, especially in these industry. According to EV Volumes, global Electricity sales reached 6.75 million units in 2021, up from 32.4 million units in 2020, a 108 percent increase. In 2021, 3.4 million EVs have been manufactured in mainland China, 2.3 million in Europe, and 0.7 million in the United States, out of a total of 6.75 million sold. Furthermore, EVs (BEV & PHEV) accounted for 8.3 percent of worldwide light vehicle sales in 2018, compared to 4.2 percent in 2020. ?
Growing Demand in the Asia Pacific Region
The carton seal adhesive tapes market in APAC is the largest and is expected to develop at a rapid rate. Due to continued R&D and improvements in the healthcare, electrical and electronics, and automotive industries, the region is experiencing considerable growth. The seal adhesive tapes market is expected to grow significantly in developing countries such as China, India, Brazil, South Africa, and Indonesia, while more developed markets such as the United States, Germany, Japan, and the United Kingdom are expected to grow slowly or not at all during the forecast period.
Do U Know How the COVID Affected This Market?
The carton sealing adhesive tape industry had a mixed bag of results around the world. The primary value chain of carton sealing adhesives was harmed as a result of trade and transit limitations between countries, as companies had trouble accessing building resources such as glue as well as other chemicals from other companies. However, in some applications, large growth in end-user demand has substantially broadened the reach of these packaging products. Demand for food wrapping and an even more necessity for crumpled packing in developing e-commerce shipments are two of the primary drivers of the analyzed market that developed from the COVID-19 epidemic. On e-commerce platforms, there has been a significant increase in demand for the packaging of food, healthcare products, and e-commerce shipments.
Carton Sealing Adhesive Tape Market Scope:
Cloud Kitchen – Are You Ready to Grub on Great Food?
BlogThe Cloud Kitchen market is expected to grow at a compound annual growth rate of 12.52% to reach a market size worth US$88.889 billion by 2027. This market was valued at US$38.926 billion in 2020.
A cloud kitchen, often known as a “ghost kitchen,” is a location where food is prepared and delivered to consumers’ households via phone or online ordering systems. They don’t typically serve food to customers. in person. They generally work in the food preparation and delivery industry, or they have relationships with food ordering websites like Swiggy, Zomato, Dine Out, and many others. Cloud kitchens have become a popular investment alternative for both new and established restaurateurs looking to start a culinary business. Popular cloud kitchen chains in this area include Faasos by Rebel Foods, Biryani By Kilo, and Freshmenu.
Analysts anticipate that the market will grow due to low capital investment during the forecast period
Cloud kitchens are designed for speed, efficiency, & scale, making running a delivery restaurant low-risk and low investment. They allow a business owner to work with different brands from a single place, boosting the chances of better cost management in existing infrastructure. It also allows for more flexibility. Cloud kitchens may keep an eye on what they’re offering by evaluating what works and what doesn’t. All of this translates to lower costs, increased efficiency, and lower risks.
The most notable advantage of the cloud kitchen concept is the elimination of expenditures associated with restaurant space, ambiance, furniture, expensive silverware, electrical fixtures, and other such expenses. All of them are eliminated, leaving only the most basic expenses for culinary employees, cooking supplies, kitchen equipment, and certain maintenance costs like power bills. By efficiently leveraging their resources, cloud kitchens may readily invest in new menus and ingredients. Restaurant owners and operators can use real-time consumer data to adjust menu components, set competitive prices, and run their operations more efficiently. Customers can also order from anywhere at any time using cloud kitchens. According to the National Restaurant Association’s consumer trends 2020, 52 percent of customers believe that ordering online is more convenient than ordering in person.
The high technological expense and lack of customer interaction can act as a constraint on market growth at a global level
The cloud kitchen market’s major hurdle is expensive technological costs. Large technical costs have replaced actual estate costs in cloud kitchen concepts. The reason for this is that these kitchens must connect with numerous meal delivery apps, such as Zomato and Swiggy, for which the kitchen must pay an aggregator tax based on the commissions that these apps charge to function on their platforms. During the projected period, high technology expenses associated with reliance on food aggregator platforms for delivery are expected to be a major limitation on market growth. Another problem that is predicted to be a key stumbling block to overall market growth is a lack of consumer connection. People are more attached to dine-in restaurants because of the environment and their interactions with the personnel, whereas cloud kitchens lack this component.
By business model, the multi-brand cloud kitchen segment is anticipated to witness a significant market share during the forecast period
The multi-brand cloud kitchen category is anticipated to dominate the cloud kitchen market, accounting for a considerable market share. Over the projection period, the segment will rise due to the increasing number of franchised restaurants around the world. Consumer demand for international cuisines and customized delicacies is prompting operators to invest in well-known brands. Furthermore, there are fewer risks associated with opening such restaurants because the franchisor provides training and assistance, which includes everything from equipment and supplies to staff training and marketing. Benefits such as the low risk of creating a cloud kitchen and getting a significant profit share are predicted to fuel the segment’s expansion.
By order source, the delivery app segment is anticipated to witness a significant market share during the forecast period
The delivery app segment is expected to rise rapidly during the projection period. Delivery apps offer an innovative platform for restaurants, franchises, and other food-selling businesses to provide customers with a convenient way to access a variety of selections through a single online mobile gateway. The convenience of having meals delivered at a fair price and promptly has led to an increase in the number of online orders through delivery apps. Increased internet usage, easy access to smartphones, simplified e-banking systems, enhanced food-service logistics, and changing lifestyles are all driving the segment. For example, Zomato, an Indian food delivery company, has 80 million active monthly users and plans to reach 20 million in the coming years.
According to regional analysis, the Cloud Kitchen market in North America is expected to hold a significant share during the projected period
Significant growth is projected in the North American region. Factors such as rising dual-income households, higher consumer purchasing power, access to multiple digital touchpoints, and increased demand for fast food are all promoting the growth of ghost kitchens in the region. Furthermore, as operators become more aware of the benefits of cloud kitchens, several franchised shop outlets and aggregators are establishing cloud or ghost kitchens. Internet penetration and the rise of social media marketing are also propelling market expansion in the region, providing new potential in the global cloud kitchen market.
Furthermore, various market players are implementing strategic initiatives, which are helping to drive the industry forward. For example, The Wendy’s Company, a quick-service restaurant chain, has announced a partnership with Rebel Foods, the company behind Faasos, Behrouz Biryani, and Mandarin Oak, to open 250 cloud kitchens across India in September 2021.
COVID-19 Insights
The COVID-19 pandemic has had a detrimental impact on the food sector, but cloud kitchens have benefited. Restaurants have been forced to close owing to lockdowns, which has increased demand for cloud kitchens significantly in the previous year or two. Restaurants were able to survive despite consumer footfall essentially decreasing overnight by employing a cloud kitchen method. According to the National Restaurant Association, 54 percent of restaurant owners have switched to totally off-premises services, while 44 percent have been compelled to temporarily close their doors. While the original intention was to provide takeaway or delivery, many operators are realizing how this strategy may benefit their business in a variety of ways.
Cloud Kitchen Market Scope: