The increased usage of products such as mobile phones, tablets, and wearables on a global scale, has propelled the need to develop coatings that enhance and maintain the durability of the product. With researches and technological advancements in the manufacturing and advanced materials industry, innovative functional coatings are being developed.
The rising global population coupled with rapid industrialization have led to an exponential increase in the consumption of energy, globally. The issue of sustainability associated with conventional resources along with the escalating demand for energy, has set into motion the need for energy harvesting. Energy harvesting can be defined as the process of capturing and storing the byproduct energy and the utilizing it later for varied applications.
Over the years, with an increase in the global population along with the boost in the economic growth, the consumption of refrigeration units, heat pumps, and air conditioners has increased significantly. However, the conventional refrigerants used in these consumer durables, such as Difluoromethane (R32), Chlorodifluoromethane (R22), and 1,1,1,2-Tetrafluoroethane (R134a), among others have high potential to cause ozone depletion, which can adversely affect the environment. This rising concern of environmental impact and global warming propelled the demand for next generation refrigerants in chemicals and advanced material industry.
Continuous Fiber composites (CFC) are the perfect amalgamation of variety of materials, fibers and resins, etc. Based on the type, CFCs are categorized by fiber type which is further classified into carbon and glass fibers. CFCs are used across industries including automotive, electrical & electronics, construction, energy, sports goods and aerospace & defense. CFCs are particularly known for their lightweight, high strength, high resistance against corrosion and excessive heat & fatigue. Also, they are easy to maintain and have long serviceable life with stiffness retention properties. In the aerospace industry, the type of CFC that is being widely used are both glass Fiber reinforced plastic (GFRP) and carbon Fiber reinforced plastic (CFRP). CFCs are also classified based on their applications and on the end-use industries. According to a recent market research report published by BIS Research titled, Global CFC Market for Aerospace Industry – Focus by Type and Application, the market for Aerospace Industry is anticipated to grow at a CAGR of 5.1% till 2023.
Cathode materials are extensively used in Lithium-Ion Batteries(LiBs) and cater to various application areas such as automotive sector, mobile phones, laptops, energy storage systems, and power tools. LiBs are highly efficient and well known for their high energy density as well as possess high load capacity. According to the latest market intelligence report by BIS Research titled, ‘Global Cathode Materials Market-Analysis and Forecast (2018-2023)’, the market is anticipated to grow at a CAGR of 14% during the forecast period. This significant market growth is primarily attributed to the increasing demands for lithium-ion batteries for the use in electric vehicles, energy storage systems, consumer electronics, and power tools.
The recent ban on waste imports in China along with the strict landfill reduction laws in European Countries has caused an upsurge in the global recycling market. Development of new technologies by various companies to improve the recyclability of thermosetting materials and the financial support these companies are getting from the government and regulatory bodies, has propelled the growth of the market for recyclable thermoset. According to the latest market intelligence report by BIS Research titled, ‘Global Recyclable Thermoset Market-Analysis and Forecast (2017-2026),’ the market is expected to reach $704.1 million in the year 2026. This significant growth of the market is attributed to the increase in the volumes of thermosetting wastes being generated globally and the government regulations which ensure the reduction in landfill disposals.
Earlier, wood, cast iron, stone, copper, and brick materials were used in different industries such as automotive, aerospace & defense, wind energy, and construction industry. However, the usage of these materials poses certain problems such as low resistance to temperature, corrosion, heat and huge maintenance costs. To overcome such shortcomings, light materials such as Continuous Fibre composites are used. Over the last decade, these materials are used significantly owing to the various advancements in the technology. According to the latest market intelligence report by BIS Research titled, ‘Global Continuous Fibre Composite Market – Analysis and Forecast (2017-2022)’, the market is expected to reach $3.45 billion by 2022. The market is driven by stringent government regulations compelling the use of continuous fibre composites, superior properties as compared to the conventional materials, and rising demands for continuous fibre thermoplastic from various end-user industries.
Owing to the various restrictions on the use of conventional silicon-based semiconductor materials. Researchers are developing Silicon Germanium (SiGe) technology to overcome the shortcomings of existing silicon-based devices. According to the market intelligence report by BIS Research titled, ‘Global Silicon Germanium Materials and Devices Market-Analysis and Forecast (2017-2021)’, the market is expected to reach $5.1 billion by 2021. Further, the market is expected to register CAGR of 13.7% from 2016-2021. This significant growth is due to the increasing bandwidth requirements, growing penetration of wireless infrastructure, and expansion in the automotive radar systems and advanced electronic devices. Silicon-based integrated machines are used extensively in the electronics industry. These devices cater to wide range of applications such as emerging wireless communications, signal processing, and sensors and radar systems.
In accordance with the Intergovernmental Panel on Climate Change(IPCC) report, buildings are the largest energy consuming sector with nearly 40% of energy consumed and are responsible for approximately 36% of global carbon emission. To deal with the same, the construction methods, material, and insulation materials have developed considerably. According to the market intelligence report by BIS Research titled, ‘Global Insulation Materials Market- Analysis and Forecast (2017-2021),’ the market is expected to reach $ 53.4 billion by the year 2021, registering a CAGR of 6.2% during the forecast period. This tremendous growth is attributed to the increase in demands of energy efficient products, governmental regulations, incentives, and rising market penetration of insulation products in several end-user industries. Furthermore, reduction in energy consumption and its related costs, stringent regulations to reduce greenhouse gas emissions, and the increase in net-zero energy buildings, population growth and urbanization are some of the factors propelling up the market for insulation materials.