ottobre 2023 - Business NewsWire

Armored Vehicles Market To Observe Fastest Growth In APAC

The armored vehicles market will reach USD 35.2 billion, growing at a rate of 5.1%, by 2030 as per a report by P&S Intelligence. This can be credited to the rising cross-border disputes, increasing demand for robust, compact, and highly effective armored vehicles, the increasing defense expenses of several nations, and the militarization of law enforcement agencies.

Furthermore, the high expenditure on R&D by key industries and collaborations of government and private organizations to produce highly innovative solutions for defense are boosting industry growth.

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Unmanned armored ground vehicles are expected to witness the fastest growth in the armored vehicles market, during the forecast period. This is credited to the increasing demand for these vehicles due to their crucial role in assisting logistic operations onshore and supporting terrestrial combat.

Combat vehicles generated the highest revenue in recent years, and this trend will continue in the future as well. This is because of the rising demand for light-protected vehicles and armored personal carriers.

Global military spending has increased significantly in the past few years. Due to internal and external security threats, conflicts between nations, technological advancement in defense, rising terrorism activities, and various border security issues.

Wheeled armored vehicles held the larger revenue share in recent years, and they will witness faster growth during the forecast period. These are gaining popularity because of their advanced combat capabilities, lighter weight, and better mobility.
In addition, the increasing incidence of terrorist attacks in urban areas has boosted the requirement for armored vehicles.

It is crucial for defense forces to carry out better monitoring of land and naval borders. As robots can perform better in border surveillance, they can substitute humans in some situations. These robots can effectively patrol national borders and transmit real-time information. Such vehicles are provided with armor to enhance durability.

The defense category held a larger share in recent years, and it will remain larger in the years to come. This is because of the increasing usage of armored vehicles such as APCs, LPVs, IFVs, MBTs, MRAP, and the focus on the safe deployment of soldiers to battlefields and risky areas.

North America held the largest share,of over 52%, and it is expected to continue like this. This is because of the existence of numerous equipment and military machinery manufacturers, the collaboration between government and industries to develop advanced vehicles, and the high rate of advanced technology adoption.

Navigating the Dicyclopentadiene Market Landscape

The dicyclopentadiene market will touch USD 1,373.9 million, propelling at a 5.3% compound annual growth rate, by 2030.

The growth of the industry is mainly because of the increasing utilization of dicyclopentadiene for resins, polymers, and various other specialty chemicals. Furthermore, because of its extremely reactive nature, it can be utilized as an intermediate for the production of various performance chemicals utilized in packaging, automotive & marine, and building & construction industries.

In recent years, the UPR category, based on type, accounted for the largest industry share, and it will generate USD 644.8 million, advancing at approximately 5.4% CAGR, by 2030.

The UPR grade is a key element in the production of coatings, varnishes, paints, rubber, pesticides, adhesives, insecticides, and other products. This is attributed to the fact that it comprises lesser trimers and co-dimers, displays enhance color characteristics compared to other resins and has better functional and mechanical properties.

Whereas, the high purity category will observe the highest growth, of 5.7% in the years to come. This is because of the increasing requirement for specialty & fine chemicals.

The hydrocarbon resins category, based on application, will observe the fastest dicyclopentadiene market growth, of approximately 5.7%, in the years to come. The main applications of hydrocarbon resins are labels, hot melts, and PSA tapes. These intermediates are also utilized as a tackifier during the production of products such as printing inks, paints, adhesives, rubbers, and coatings.

Based on industry, the building & construction category accounted for the largest share, in the past few years. Furthermore, it will generate a revenue of USD 328.7 million, propelling at a 5.3% CAGR, by 2030.

In the past, APAC accounted for the largest dicyclopentadiene industry share, and it will advance at a 5.4% compound annual growth rate throughout this decade. This is because of the increasing requirement for this chemical in the plastic and resin sector in this continent.

What is the Application of Acetone?

Acetone, also known as 2-propanone and dimethyl ketone, is a combustible, water-white, miscible in water, and volatile manufactured chemical. It has exceptional usability as a solvent and has a high evaporation rate, as a result, it is utilized to dissolve both synthetic and natural oils, resins, gums, waxes, or other additives.

Acetone is mainly utilized as a solvent in inks, paints, adhesives, and other chemicals. It is also naturally produced by the human body in small quantities.

Moreover, acetone is a versatile and extensively utilized chemical with various important applications across different sectors. In this blog, you’ll discover the importance and use case of acetone across different sectors.

Importance of Acetone

Acetone is a very effective solvent that can dissolve both non-polar and polar substances, making it beneficial in the manufacturing of fibers, pharmaceuticals, and plastics; and also, in nail polish removers and cleaning agents.

Moreover, acetone is also utilized in the manufacturing of medical equipment. The potential of acetone as a biofuel also makes it an essential chemical in the sector of energy. Therefore, the usefulness and versatility of acetone make it an essential chemical compound with numerous applications in different sectors.

Application of Acetone

As already mentioned above, acetone is extensively utilized in various consumer and industrial applications, for instance, in the manufacturing of synthetic fibers, pharmaceuticals, and plastics, as well as in paint thinner, cleaning products, and nail polish remover.

In Cosmetic

Acetone is an important element in nail polish remover. It is highly effective at dissolving and breaking down the resin in nail polish, enabling easy removal. Nail polish removers based on acetone are extensively accessible and more effective as compared to non-acetone removers.

Moreover, it is also utilized in the manufacturing of some perfumes, because it can benefit in mixing and dissolving ingredients.

In Medical Application

Acetone also offers some essential medical applications. In medical laboratories or hospitals, acetone is utilized as a disinfectant and sterilant. Moreover, in the sector of pharmaceutical, acetone is required for the manufacturing of various medications, for instance, hormones and corticosteroids.

With the increasing rate of automotive manufacturing, increasing utilization of printed circuit boards, and ongoing industrialization across the globe, the need for acetone will continue to surge, reaching a value of USD 9,590.9 million by the end of this decade.

Enhancing Textiles: Insights into the Textile Finishing Chemicals Market

The global textile finishing chemicals market size stood at USD 8,897.2 million in the past, and it is expected to advance at a compound annual growth rate of 3.8%, to reach USD 11,983.2 million by 2030.

Demand for textiles with improved functionality is rising, including moisture management, antimicrobial qualities, fire resistance, and stain resistance. The market demand for these chemicals is driven by the vital role that textile finishing chemicals play in supplying these functions.

Environmental concerns and rising regulatory demands have prompted the creation of environmentally benign and long-lasting textile finishing agents. Customers are seeking textiles with less of an impact on the environment, which is driving the market acceptance of safer and greener finishing chemicals.

New and improved finishing chemicals have been created as a result of developments in textile chemistry and technology. Innovative formulations and application methods are enabling manufacturers to more effectively and efficiently attain desired textile qualities.

Advanced textiles with qualities like heat resistance, chemical resistance, and durability are needed in sectors including automotive, aerospace, and healthcare. The development of this category is fueled by textile finishing chemicals, which are essential in giving technical textiles their qualities.
APAC is one of the dominant regions in the textile finishing chemicals market.
APAC has a substantial presence in the global textile sector, with India, Bangladesh, and China serving as important centers for the industry. The substantial textile manufacturing industry in the area fuels the demand for textile finishing chemicals.

APAC provides a good environment for manufacturing, distinguished by cost benefits, skilled labor, and infrastructure support. This draws in textile producers, which boosts output and subsequently raises sales of textile finishing products.
Several APAC governments have put laws and programs into place to aid the development of the textile sector. These factors, which have a favorable effect on the market for textile finishing chemicals, include incentives for textile producers, research and development initiatives, and infrastructural development.

The rising demand for functional fabrics, environmental concerns, and technical advances are expected to propel the growth of the worldwide textile finishing chemicals market. The market’s dominance by APAC is attributable to its robust textile sector, hospitable production environment, and government assistance.

Solid Foundations: Insights into the Polymer Concrete Market

Construction sector is on the boom left, right and center, and polymer concrete is mainly used as a construction material all over the world.

Polymer concrete gained popularity among folks in 1970s, but it was introduced one or two decades before that. It has also developed over the years; the polymerized monomer is now replacing Portland cement as a concrete binder.

Polymer concrete is much better than traditional concrete making the use of Portland cement, the advantageous properties of polymer concrete include high impact and compressive strength, low permeability, fast curing, and chemical and corrosion resistance. Due to these properties, it is put to use in specialized applications.

Defining Polymer Concrete?

The polymeric resins used for producing this concrete are epoxy resin, methacrylate, polyester resin, furan resins and vinylester resin. Attributable to their affordability, decent mechanical properties, and easy accessibility, unsaturated polyester resins are the first choice of the people. Which resin to use depends on the use and whether and chemical resistance, and cost.

How it is Put to Use?

As a result of the characteristics and a global increase in the requirement for a harder, stronger, and more durable building material, polymer concrete is getting popular. The advantages of making use of polymer concrete because of its benefits for the environment are too much to be overlooked.

Where is it Used the Most?

There is a lot of population growth all over the world, and it is the APAC region which is the home to two of the most populated countries of the world. To provide housing for the increasing population, construction activities are ion the rise, and so there is a major use of polymer concrete in this region.

There is a use of polymer concrete in other regions of the world as well, such as North America and Europe, but no region beats the dominance of the Asia Pacific region in this regard.

Summing Up the Scene

It is not just about the growth of the industries, but the requirement of replacing existing concrete, an increase in consciousness about the use of polymers in concrete, along with the expansion of newer and more affordable products will give an additional boost to the demand for polymer concrete.

Sustainability Unleashed: Insights into the Bio-Based PET Market

It is literally impossible to give away the use of plastics from our lives. Being aware of how harmful plastic is for environment. But having said that, it is possible to recycle the plastic, and keep it in circulation for long, and not dumping it into the landfills or water bodies.

Bio-based PET is one such kind of plastic, which is completely biodegradable. Coca-Cola is a company, which introduced a complete PET bottle to be used for packing soft-drinks. Let us know why, this kind of plastic is a popular choice

PET is a prevalent choice for plastic bottles due to the fact that, it has an unmatched strength -to-weight ratio, decreasing costs, savings on transportation as opposes to the bottles of glass, and because of it being safe and reliable in the packing of consumer products.

From the beginning of the process of manufacturing, PET is a strong, yet flexible material allowing for its usage in more than a few diverse types of plastic bottles. It is significant to note that each bottle is tested and prudently monitored for meeting safety standards.

With the use of compounds for example PET bottle containers that save energy through manufacturing, are inexpensive for making and are also biodegradable and sustainable.

Advantages of PET Bottles

PET plastic bottles are recyclable. With progressions in manufacturing tech, these bottles are considerably lighter, decreasing the amount of plastic.
PET packaging makes use of significantly less energy during the process of manufacturing as opposed to glass packaging. This comprises water and fossil fuels.
PET creates a barrier with the outdoor environment letting little or no oxygen passthrough. It doesn’t react with food or water, making it an able solution for packaging consumable goods
PET plastic does not break or shatter, just like the glass counterparts. This makes it a safe option than a glass bottle. This likewise makes it safe and inexpensive to transport once filled
Since it is easy to produce PET into diverse shapes and much cheaper than glass, it makes it relatively easy for brands to have a characteristic packaging design for identification and promotion of their products, everything from water, to soft drinks and more, and eventually help the product show up on the shelf of the store.

One of the key concerns from the people has been the “bleeding” of chemicals from plastic bottles into the food products, they are consuming. As part of its valuation, the FDA keeps a close eye on the transfer of plastic components and further materials to the runny contents of the bottle, within safe standards.

PET is the widely trusted plastic for consumer goods, particularly for food and beverage packaging, and because of the many benefits of the same, the demand for bio-based PET will continue to grow in the years to come.

Electric Mobility Services Market Is Driven by Increasing Environmental Concerns

The global electric mobility services market is witnessing growth. This development can be credited to the reasonably lesser price of ownership attached to the electric fleet, armed with the surging ecological worries throughout the world.

In recent years, the two-wheeler sharing category led the electric mobility services industry, based on service type. This is credited to the fact that apart from being a suitable, inexpensive, and quicker mode of traveling, e-two-wheeler sharing facilities also fulfill the requirement for last-mile traveling throughout the globe.

The category is further divided into scooter sharing, bike sharing, and kick scooter sharing. Between them, the bike-sharing category had the largest industry share in recent years, credited to the enormous utilization of these services in China.

The passenger car category is further segmented into plug-in hybrid electric vehicles and battery-electric vehicles. Between them, the BEV category is responsible for the greater share in the industry in recent years, ascribed to the helpful government steps, in the form of incentives and strategy formulations, which inspire the acceptance of such vehicles, and the working advantages BEVs provide over plug-in hybrid electric vehicles.

In the past few years, last-mile commuting was the largest category in the industry, based on commuting patterns. Also, the category is projected to stay the largest industry in the projection period. This is mainly because e-mobility services offer ease to users, to commute even the shortest distances, from mass transportation spots, like metro stations and bus stops, to their terminus, therefore removing the requirement to walk down that distance.

In the past few years, many cities across China augmented the utilization of electric vehicles (EVs) across numerous service channels, to encourage a greener atmosphere. With constant backing from the government, in the form of strategies and incentives, the industry in China is projected to showcase strong growth in the near future.

Hence, the reasonably lesser price of ownership attached to the electric fleet, armed with the surging ecological worries throughout the world are the major factors propelling the industry.

U.S. Electric Bus Market to Observe Fastest Growth in the Battery Electric Bus Category

In the U.S., electric buses are transforming the transportation industry. Electric buses are powered by electricity instead of conventional fuels, which makes them an environmentally friendly alternative.
In this blog, we will explore the advantages of electric buses and their impact on the environment.

Understanding Electric Buses Before we jump into the details, let’s understand what is an electric bus.

An electric bus can be defined as a type of electric vehicle, running, with the use of zero-emissions, and with the use of electricity, as its name states. These buses provide sustainable mobility solutions because they decrease air and noise pollution, dependence on fossil fuels, and greenhouse gas emissions.

Advantages of Electric Buses One of the most important advantages of electric buses is their reduced impact on the environment. Majority of the traditional buses run on diesel, these emit harmful pollutants into the air, making it polluted. These pollutants can cause respiratory illnesses and various other health problems.

Whereas, electric buses do not emit any pollutants. They run by batteries, that are charged using an external power source, for example, a charging station. Hence, electric buses produce zero emissions, thus help in improving the air quality.

Another advantage of electric buses is the reduction of noise pollution. The traditional buses are loud, mainly when accelerating. Whereas, electric buses are significantly silent, and offer the passengers a pleasant riding experience.

Lithium-ion Battery is Used the Most in these Buses Lithium-ion battery is the most used battery for electric buses, this is a rechargeable battery and offers benefits such as a long-life cycle, low maintenance costs, low weight, zero-carbon emission, and high energy concentration. Thus, ensuring safety and extended life for an electric bus.

Electric School Bus Initiative and its Importance

The goal of this initiative is to build a momentum toward using electric buses in every school in the U.S. by 2030.

Electric school buses are important because, most of the school buses run on diesel, which emits harmful pollutants, and much exposure to these pollutants can cause asthma and respiratory issues, in children.

What Is the Purpose of Electric Pallet Jack and Stacker?

A Pallet Jack is just Utilized to lift a pallet just a few inches off the ground level, move it to another place, and then place it back into the ground. The utmost lift height of a pallet truck is generally about 8” to 10”.

A Pallet Stacker is made to lift and transfer pallets from one place to another. Stackers differ from pallet trucks in that they have thoroughgoing lift heights varying from 60” to 160” or even more in some circumstances. This high lift capacity permits stackers to put a pallet onto a high rack for storing or load it from earth level onto a truck trailer if a loading dock is not present.

Lifting heavy pallets high into the air makes a tipping danger which requires that pallet stackers have either an outrigger (legs with rolls at the end that extend outward in front of the unit) for steadiness or a weighted counter-balance in the back of the unit to stop it from tipping over.

For high workflow conditions, an electric pallet jack or electric pallet stacker can be valuing the extra investment. Such units are typically powered by 8V or 12V lead or AGM batteries and come with an onboard charger. Some copies are physical push with a powered lift, while fully fortified models have powered drive and powered lift abilities. An electric pallet stacker is a must have for placing pallets on high drops.

The electric pallet jack and stacker market is experiencing growth and is projected to reach USD 7,069 million by 2030.

Advantages of Using Pallet Stackers

The benefits of using pallet stackers include:

Pallet stackers have a little entrance barrier as they are made to be simple to use. Huge mechanical products will need dedicated training to function, while a stacker operative can be trained by other staff or by a dedicated in-house team. Operators can be trained in a single session, removing knowledge loss because of staff turnover.

Flexible and effective: Stackers are made to be sprightly and can be used in an extensive variety of professional settings. This means they’ll be able to stay on if your business pivots or deals with an extensive variety of products. Pallet stackers are therefore virtually future-proof, and an expenditure in one can reap benefits for numerous years to come.

Pallet stackers are one of the most lucrative warehouse items, sitting halfway between a flat jack and a greater forklift. They are low-cost to add to your transport network. They also aid to advance efficacies across your supply chain, and they’re a lot less costly than buying more intricate machinery.

Flowing into the Future: Insights into the Electric Vehicle Fluids Market

As per a statement by P&S Intelligence, the electric vehicle fluids market was valued at USD 1,799 million in 2022, and it will advance at 28.4% CAGR, to touch USD 13,263 million, by 2030.

The growth in the electric vehicle fluids industry is attributed to the strict government rules to promote electric vehicles, increasing requirements for e-vehicles, and the mounting adoption of electric machinery in the construction sector.

The implementation of electric vehicles is rising because of the mounting requirement to decrease the usage of fossil fuels and their high prices that resulted in the formation of economic pressure. Moreover, the implementation of fuel cells, batteries, and electricity in EVs lowers the dependency on fossil fuels.

Based on vehicle, the passenger vehicle category is expected to witness the highest growth rate in the years to come. This is attributed to the increasing disposable income of people, development in the road infra, and initiatives by the government, for example providing subsidies on electric passenger cars.

Additionally, the requirement for passenger automobiles will get doubled in coming years, due to the increasing focus of key automakers on technological advancements and launching new models, to ensure customers use more EVs.

Based on product, the heat transfer fluids category held the largest electric vehicle fluids market revenue share. This is because these fluids run at lower pressures as compared to steam, as well as function in a method that maintains temperature control with fewer risks of handling in a controlled unit.

Additionally, these fluids also offer exceptional solutions for enhancing the mileage of electric vehicles with improved machine competence, improving the life of each electric motor part, helping in offering insulation for electric current, and cooling e-motors and gears.

In 2022, Europe held the largest electric vehicle fluids industry revenue, at approximately 45%, therefore leading the global industry. This is because of the large number of hybrid automobiles produced and sold in the region, which generates a high requirement for electric vehicle fluids.

Whereas, APAC held the second-largest and fastest-growing electric vehicle fluids industry, owing to the high demand for EVs in India and China.

Hence, the strict regulations by governments to promote electric vehicles and the increasing adoption of electric machinery in the construction sectors will significantly enhance the growth of the electric vehicle fluids industry in the years to come.