How are Increasing Construction Activities Driving Plasticizers Market?

In 2018, the plasticizers market valued $13,967.9 million, and it is predicted to reach $16,700.6 million by 2024, witnessing a 3.5% CAGR during 2019–2024 (forecast period). The increasing demand for polyvinylchloride (PVC) in the electronics and electrical industry and requirement for construction material is driving the market growth. Plasticizers are additives used during the manufacturing of plastics, to improve their performance, as they are usually cheaper than other additives.


The global production of plastics increased during the historical period (2016–2018), so did the production of PVC, for use as an insulation for electrical wires. PVC is used in these products owing to its flexible nature and good resistance to temperature and ultraviolet (UV) rays, which is because of the presence of plasticizers. The share of plasticizer-containing PVC in wires and cables is expected to witness a considerable progress during the forecast period. Thus, the rising consumption of PVC, containing plasticizers, in the electrical and electronics industry, will boost the growth of the global plasticizers market.

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Based on end use, the market is classified into flooring, roofing, & cladding, wires and cables, automotive parts, films & sheets, toys and child care products, medical equipment, and others. Among these, wires and cables held the largest value and volume shares in the plasticizers market in 2018. The category is projected to witness considerable growth, at a CAGR of 3.8%, in terms of value, during the forecast period. The growth of the category is driven by the high wire and cable demand in the automotive, construction, healthcare, electrical, and packaging industries.

In terms of product, the plasticizers market is bifurcated into phthalates and non-phthalates. Non-phthalate plasticizers are expected to witness the higher CAGR during the forecast period, because of their non-toxic profile. Health concerns across the developed countries have led to the banning of major phthalate plasticizers, and the strict policies implemented by governments have increased the demand for non-phthalate variants. These are the key factors boosting the demand for non-phthalate plasticizers, which is why this bifurcation is expected to grow considerably during the forecast period.

Almost 90% of the plasticizers used to produce PVC are phthalates; however, they impart toxicity, and with severe health concerns in developed countries, a ban on the use of such plasticizers has been implemented. The ban and strict regulations enforced by the government have boosted the demand for non-phthalate variants, which are non-toxic in nature. Now, they are increasingly being used for the production of PVC, which is itself used to manufacture medical devices, toys, and several other end products.

Globally, the highest demand for plasticizers was witnessed in the Asia-Pacific (APAC) region, which accounted for an over 60.0% share, in terms of value and volume, in 2018. The market size and predicted growth during the forecast period are attributed to the region’s high-volume manufacturing, chemicals, automotive, electrical and electronics, construction, and several other end-use industries, majorly in India, China, and Indonesia. All these industries require plasticizers in PVC, so that the end products are flexible. Thus, the increasing demand for PVC is expected to boost the regional plasticizers market growth during the forecast period.



Therefore, it is clearly visible that with the rising demand for non-phthalate plasticizers in the electronic and electric industry, the market will prosper in the coming years.

How is Rising Adoption of Electric Vehicles Driving Lead-Acid Battery Market?

The regulatory government norms are increasingly focusing on reducing the greenhouse gas emissions and global temperature. Attributing to this, the need for electric vehicles (EVs), such as plug-in hybrid electric vehicles, hybrid electric vehicles, and pre battery electric vehicles, is on the rise as they enable efficient and clean transportation. In order to increase the adoption of EVs across the world, a France-based organization, Clean Energy Ministerial, established a multi-government policy forum - ‘Electric Vehicles Initiative (EVI)’ in 2010. Since, due to their high energy density and specific energy, lead-acid batteries are used widely as a power generating source in EVs, their demand is predicted to increase with the rising adoption of EVs.

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Lead-acid battery, a type of rechargeable cell, makes use of sponge lead and lead peroxide in order to convert chemical energy into electrical power. The battery comprises lead and lead oxide plates, which are immersed in sulfuric acid solution. Electric current is generated due to the oxidization of the lead plate by the oxide component of the battery. Due to their low cost and high cell voltage, lead-acid batteries are commonly used in power stations and substations. According to a research conducted by P&S Intelligence, in 2017, the global lead-acid battery market attained a value of $56.9 billion and is further predicted to generate $70.7 billion, advancing at a 3.7% CAGR, in the coming years. The application of lead-acid batteries is extensive in various sectors — utilities, oil & gas, automotive, leisure, marine, telecommunication, uninterrupted power supply (UPS), construction, mining, and military. The largest demand for lead-acid batteries was created by the automotive sector during the time period 2013–2017 because of the increased requirement for automobiles.

The rising demand for UPS is also contributing to the growing need for lead-acid batteries. The requirement for electricity across the world is surging due to industrialization and urbanization, which, in turn, is driving the demand for UPSs, as they protect devices from load surges and data loss, along with providing uninterrupted supply of electricity. Moreover, industries such as healthcare, educational institutions, oil & gas, chemicals, research institutions, and manufacturing require uninterrupted electricity supply so that their machineries can function properly. The need for UPSs is also expected to increase because of the emerging data centers and IT industries in the European and APAC regions, as they protect equipment from any damages due to electricity fluctuations. Lead acid batteries are used in these systems for power supply backup, which is why their requirement is growing because of the rising demand for UPS.

Three types of lead-acid batteries are standby, starting, lighting, & ignition (SLI), and motive. Standby battery, also known as float-use battery, has large number of thin cell plates and is used as an alternate source of electricity in case of any emergencies. It has a life span of around five years. SLI battery is used for powering lights, motor, and ignition system of a vehicle’s engine and is installed with the vehicle’s charging system. Motive battery provides a steady current for a longer duration and is utilized to provide power to EVs such as golf carts and forklift truck. Among all these, the largest demand during 2013–2017 was created for SLI lead-acid batteries.

Rising Preference for Clean Energy Strengthening the Solar Panel Recycling Market

Rising adoption rate of solar power systems and favorable government norms encouraging sustainable development are the major factors driving the growth of the solar panel recycling market. In 2017, the market generated a revenue of $80.7 million, and it is predicted to attain a size of $269.8 million by 2023, progressing at a CAGR of 22.0% during the forecast period (2018–2023). Solar panels convert solar energy into electricity for various commercial and residential applications; these are made from aluminum, glass, synthetic materials, and silicon.

These components can be separated through the recycling process after panels’ lifecycle completes. On the basis of recycling method, the solar panel recycling market is classified into mechanical, thermal, and laser process. Out of these, in 2017, the mechanical classification held more than 55.0% revenue share in the market and is further expected to maintain its lead during the forecast period. The reason behind the leading position of this category is the economical and eco-friendly nature of the process.

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Based on solar panel type, the market is categorized into polycrystalline, monocrystalline, and thin film. Among these, the monocrystalline category registered more than 50.0% revenue share in the solar panel recycling market, and is anticipated to dominate the market during the 2018–2023 period too. This is attributed to the wide adoption of monocrystalline solar panels owing to their benefits over other solar panels such as superior quality, greater efficiency, longer shelf life, and high heat resistance.

Talking about the shelf life, the solar panel recycling market is bifurcated into normal loss and early loss. Of these, in 2017, the early-loss shelf life category held a revenue share of more than 80.0% in the market. The key factor behind this is the early degradation or weathering of solar panels due to maintenance problems, negative weather conditions, and lack of product standardization. This is also why this category will lead the market during the forecast period.

Sustainable development plays an important role in the solar panel recycling market growth. It helps in the controlled optimization of the resources to save them for the current and future generations. Along with that, it helps in decreasing environmental hazards. Rising energy crisis, high levels of carbon emissions, and growing concerns for environmental protection have fueled the need for sustainable power generation. Traditional sources of energy such as fossil fuels are rapidly being replaced by renewable sources including solar energy, which don’t harm the environment.

The increasing number of initiatives and pacts pertaining to the adoption of solar energy is behind the accelerated rate of solar panel or PV module installation. In addition, the cost-effectiveness and efficiency of solar panels are boosting their demand for commercial and residential applications. The major benefits attached with these systems are no greenhouse gas emissions, noiseless energy generation, and environmental safety. A solar panel usually has a 30-year lifespan, but some may suffer an early loss, which results in huge amounts of e-waste, which is why it is vital to recycle them.

Hence, the surging popularity of solar energy as a renewable power source and the high deterioration rate of PVs are driving the global market for solar panel recycling.