marzo 2023 - Business NewsWire

How Is Infrastructure Development Propelling Waterproofing Chemical Demand?

Waterproofing chemicals are usually used to protect buildings from water seepages because seepages can reduce the lifespan of a structure and can cause health, metal, and electrical hazards to the building’s owner. These chemicals enhance the durability of infrastructure and increase the shelf life of concrete structures when applied to the exterior of the buildings. Owing to these advantages, the waterproofing chemicals help in reducing the maintenance of buildings. Thus, the increasing construction of housing units and commercial structures, owing to the booming population, will fuel the consumption of such chemicals in the forthcoming years.

Additionally, the rising global focus on strengthening the construction and manufacturing industries, owing to the surging focus on policies such as “Zero Effect and Zero Defect” will also fuel the usage of waterproofing chemicals across the world. Moreover, the soaring focus of regulatory authorities to set up pollution control guidelines and create a model that incentivizes green and energy-efficient buildings will augment the consumption of such chemicals in the construction sector. For example, the Indian Green Building Council (IGBC) works toward providing infrastructure tools that encourage the adoption of green building practices in India.

Styrene-butadiene-styrene (SBS), atactic polypropylene (APP), polyvinyl chloride (PVC), thermoplastic polyolefins, and ethylene propylene diene monomer (EPDM) are the most common types of waterproofing chemicals being used in roofing, building structures, walls, and landfills and tunnels. The construction and manufacturing sectors procure such chemicals from Pidilite Industries Limited, Evonik Industries AG, Thermax Limited, Fosroc, Zeon Corporation, BASF SE, Mitsubishi Chemical Holdings Corporation, Sika AG, Bostik Inc., and The Dow Chemical Company.

Geographically, Asia-Pacific (APAC) led the waterproofing chemicals market in the preceding years, and it is also expected to consume these chemicals at the highest rate in the upcoming years. This can be owed to the expanding consumer base, increasing compliance of the manufacturing industry with international standards, and soaring investments in the infrastructure sector, in the region. Among APAC nations, China uses the highest volume of waterproofing chemicals, due to the presence of a wide manufacturing base and increase in construction of numerous infrastructure units in the country.

Browse Full Report Waterproofing Chemicals Market Regional Opportunities

Why are Worldwide Sales of Nanoporous Materials Booming?

Nanoporous materials are basically materials that comprise a regular organic or inorganic framework which reinforced a regular porous structure. These pores generally have a size of around 100 nanometers or sometimes even smaller. Most of these materials are classified as membranes or bulk materials. As nanoporous materials have large surfaces, they exhibit excellent catalytic and absorbent properties, which make them highly suitable for use as absorbents and catalysts. Moreover, some organic nanoporous materials can be made artificially.

According to the International Union of Pure and Applied Chemistry (IUPAC), nanoporous materials are segregated into three segments namely microporous materials with a pore size in the 0.2–2nm range, mesoporous materials with pore size in the 2–50nm range, and microporous materials with pore size more than 50nm. Nanoporous materials are also used in ion-exchange applications. Moreover, they are needed in nano reactors, guest-host interaction, and low dielectric constant mediation. In addition, they are extensively used in biomedical applications for preventing bacteria and decontamination, slowing down drug release, and filtration in hemodialysis.

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Amongst these, the requirement for these materials was found to be the highest in petroleum refining in 2015. This was because of their catalytic and absorbent characteristics. The most widely used types of nanoporous materials are zeolites (natural zeolites and synthetic zeolites), activated carbon (granular activated carbon and powdered activated carbon), clays, activated alumina, and silica gel. Amongst these, the demand for zeolites materials was the highest in the past years, while the sales of the clay materials were the highest during the past few years.

Hence, it can be said without hesitation that the sales of nanoporous materials will soar all over the world in the coming years, mainly because of their mushrooming usage in various end-use industries, such as chemicals, petroleum, and food and beverages.

Browse Full Report Nanoporous Materials Market Company Revenue Shares

Revving Up: A Comprehensive Analysis of the Global Forklift Market

The global forklift market reached a valuation of $33,878.7 million in 2019 and is predicted to generate a revenue of $42,519.4 million by 2030. Furthermore, the market would exhibit a CAGR of 2.8% between 2020 and 2030, as per the estimates of P&S Intelligence, a market research firm based in India. The rapidly growing e-commerce industry and the adoption of advanced autonomous and electric forklift in warehouses and factories are the main factors fueling the growth of the market.

The expanding customer base, changing customer expectations and buying habits, and the increasing popularity of e-commerce are propelling the growth of the forklift market across the globe. The rising popularity of online shopping is pushing up the need for faster deliveries, which is, in turn, challenging the traditional logistics. This is making companies adopt strategies such as making huge investments in autonomous and electric forklifts. This is subsequently fueling the usage of forklifts in warehouses for loading and picking goods.

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Additionally, e-commerce organizations are rapidly adopting advanced technologies such as robotics and the industrial internet of things (IIoT) for enhancing their warehouse efficiency. This is causing a sharp surge in the sales of electric forklifts. Moreover, many market players are making huge investments in automation technologies. For example, Hyster-Yale Materials Handling Inc. developed and launched a dual-mode pantograph robotic reach truck in April 2019. The truck is capable of autonomously retrieving and depositing loads from high locations.

Based on class, the forklift market is divided into class 5, class 4, class 3, class 2, and class 1 categories. Out of these, the class 5 category recorded the highest growth in the market in the past few years. These forklifts are driven by internal combustion engines (ICEs) and are extensively used in various developing countries such as Mexico, India, Brazil, and China. They are heavily used in heavy lifting applications.

This is because these forklifts have pneumatic tires, which are ideal for work environments where the tire puncture risk is very high. When engine type is taken into consideration, the market is classified into electric and ICE. Between these, the electric category will exhibit faster growth in the market in the future years. This is credited to the growing demand for eco-friendly forklifts in factories. Additionally, the reducing prices of lithium-ion (Li-ion) batteries are propelling the sales of electric forklifts.

Geographically, the forklift market will demonstrate the highest growth rate in the Latin America, Middle East, and Africa (LAMEA) region in the upcoming years. This would be a result of the increasing industrialization and the surging establishment of warehouses in the developing nations of the region. Additionally, the rapidly expanding e-commerce sector and the changing customer buying habits are fueling the demand for faster warehouse operations, which is, in turn, pushing up the demand for forklifts in the region.

Detailed Analysis of the Forklift Market Trends

Why Are Commercial Vehicles Being Integrated with Autonomous Driving Features?

With the growth of the manufacturing and retail industries, an efficient means to transport goods from one place to another is becoming more important every year. Similarly, the burgeoning population, which the United Nations (UN) expects to touch 10.9 billion by 2100, is propelling the need for passenger transportation. With these factors, the number of large commercial vehicles, including trucks and buses, is rising. However, these vehicles are often part or cause of road accidents because they are slightly difficult to maneuver, and drivers aren’t always able to see what is behind them.

As a result, with the surging incidence of road accidents, which kill 1.35 million people each year, as per the World Health Organization (WHO), the need for making transportation safer is increasing. P&S Intelligence cites this factor while projecting an 8.2% CAGR for the autonomous commercial vehicle market during 2020 and 2030. It is now well known that most of the accidents are caused by humans themselves, and few due to machine/vehicle system error. As a result, in several countries, the adoption of functionalities that can aid the human driver or even completely replace them while driving has been mandated.

For instance, the National Highway Traffic Safety Administration (NHTSA) under the U.S. Department of Transportation has made the integration of electronic logging devices (ELDs) in all trucks necessary. Another among the most-popular systems in this regard is the advanced driver-assistance system (ADAS), which includes functionalities such as automatic emergency braking, anti-lock braking, adaptive cruise control, and automatic parking. Any vehicle with any of these functionalities is classified as a level 1 semi-autonomous vehicle, which is why more semi-autonomous trucks and buses than fully autonomous ones have been sold around the world till now.

Moreover, fully autonomous vehicles are not available for sale currently; they are still under the development and trial stage. Level-4 autonomous vehicles will be available in 2023 and level 5 variants only in 2025. On the brighter side, the current technological and regulatory landscape is quite conducive to the development of fully autonomous commercial vehicles. Two of the essential technologies for such vehicles — vehicle-to-vehicle (V2V) connectivity and vehicle-to-infrastructure (V2I) connectivity — have already been developed, and they are being integrated on a wide scale in passenger cars.

Similarly, an increasing number of countries are tweaking their laws and making accommodations for the operation of self-driving vehicles. For instance, since 2011, 29 American states have made regulatory provisions for such vehicles, which are also a priority for the European Union (EU). The major countries where fully autonomous vehicles are being tested or have been given the in-principle operational approval are the U.S., Germany, Canada, Spain, France, the U.K., Sweden, the Netherlands, and Italy.

Browse detailed report on Autonomous Commercial Vehicle Market Business Strategies, and Regional Outlook

Why Sale of Automotive Fuel Transfer Pumps Is Increasing?

For the majority of gasoline and diesel engines, a fuel pump of some sort is necessary. In the beginning, there was no need for a pump because gasoline could flow naturally to the carburetor from an internal fuel tank thanks to gravity.

When an engine has a fuel injector, fuel is transferred from the gas tank to the injector using electric fuel pumps. The application dictates that these pumps must deliver gasoline at high pressure (usually 30-85 psi) for the fuel injector to feed fuel into the engine.

Fuel pressure must meet specifications for the motor to run normally. The engine will run out of gasoline if the pressure is too low, which will cause it to misfire, hesitate, stall, or run lean. Gasoline waste and pollution in the fuel result from excessive fuel pressure, which also causes improper engine operation.

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PHEVs combine the benefits of electric motors and internal combustion engines. The preference for such vehicle types is expected to create a profitable opportunity for the expansion of the fuel transfer pumps market. This is because they feature a standard IC engine, in which fuel is transported from the tank by the pump and then injected into the carburetor or fuel injector.

Is a Mechanical Fuel Pump More Effective than an Electronic One?

An electric pump is necessary for various tasks and can handle several issues that cam-driven pumps cannot. However, mechanical pumps can deliver a sufficient fuel flow compared to comparably priced electric pumps.

Browse Full Report Automotive Fuel Transfer Pumps Market Size, Share, Trend Analysis Report

Europe Dominated the Grow Light Market

The size of the grow lights market was $1,481 million in 2021, and it will reach to $13,183 million by 2030, advancing at a growth rate of 28% in the years to come as per a report published by P&S Intelligence.

LEDs will be the most used in the years to come. This will be because of increase in the requirement of customers for energy-efficient and affordable grow lights and the increase in the count of government programs for promoting the use of LED drivers and lights.

Furthermore, the growing requirement for economical and durable horticulture lights in numerous countries and the increasing usage of such lights in new farming activities because of their appropriate intensity for plant growth and cost-effectiveness are the main reasons of the high requirement for products.

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Additionally, the need for retrofit installations is generally greater than the new ones because the latter needs lots a huge capital investment and a lot of time.

Vertical farming will have the fastest growth in the future in grow lights market with a growth rate of approximately of around 29.8%. This growth will be due the snowballing need for herbs and food, cultivated in vertically stacked layers; and the increasing count of such farms, particularly in developed countries, because of the lack of space required for setting up conventional farms.

The revenue share of the commercial greenhouses category was the largest in the recent past, and it will dominate the industry in the future as well.
Europe had the largest revenue share, of approximately 33%, and it will maintain its dominance in the near future too. This can be because of the significant use of LED lights to grow plants in commercial greenhouses and a large base of consumers.

APAC will grow the fastest by the end of this decade. This can be due to the rising rate of urbanization, increasing requirement for food, growing population, budding acceptance of new agri- technologies, and increasing emphasis on urban farming.

Browse Full Report Grow Lights Market Key Market Dynamics

The Global Forklift Market: Trends, Drivers, and Future Outlook

Rising significantly from 2017, the share of the e-commerce sector in the total global retail sales reached 14% in 2018. Further, by 2021, almost 17% of the total retail sales across the world are expected to be made through online shopping channels. This is because such platforms offer customers the price flexibility and fast delivery service they are looking for.

Like companies across various other sectors, forklift manufacturers are also subject to the ill-effects of the COVID-19 situation. Due to the ceasing of manufacturing activities, companies offering forklifts as well as their components would need to alter their strategies and come up with a more-efficient supply chain model. The ripple effects of the current shutdown in several countries are expected to be witnessed till at least the entire 2021.

Forklift Market Segmentation Analysis

During 2014–2019, class 5 forklift trucks generated the highest revenue in the industry, owing to their high popularity in emerging economies, such as China and India. They are preferred for heavy-lift applications, especially in places where the risk of tire punctures is high, as such vehicles have pneumatic tires. Their payload capacity is between 3,000 and 55,000 pounds (1,360 and 25,000 kg), which makes them suitable for heavy lifting.

The counterbalance bifurcation, under segmentation by product, dominated the industry in the past. These trucks have two forks at the front, and they are able to get quite close to the load to be picked and moved. They are designed for varying loads and conditions, which makes them popular for logistical operations.

During the forecast period, the higher value CAGR, of 3.4%, is projected to be witnessed by the electric bifurcation, on the basis of engine type. This is attributed to the rising concerns regarding the emission of greenhouse gases (GHG) from fossil-fuel vehicles. In addition, class 1, 2, and 3 trucks are pressed in lightweight lifting, for which electricity can easily provide the required power. Another reason for the increasing sale of electric forklifts would be the gradual decline in the cost of lithium-ion (Li-ion) batteries.

Presently, Asia-Pacific (APAC) is the most lucrative forklift market, due to the rapid growth in the automotive and retail industries in India, South Korea, Japan, and China. In addition, regional governments are implementing strict mandates for security and safety at the workplace, which is leading to the quick deployment of such trucks. In the years to come, the fastest rise in the adoption of forklift vehicles would be seen in the Latina America, Middle East & Africa (LAMEA) region, on account of the swift industrialization and popularity of the warehousing model.