Rising Product Demand due to Urbanization Driving Cinnamaldehyde Market

In 2016, the global cinnamaldehyde market generated a revenue of $183.7 million and is predicted to advance at a 6.5% CAGR during the forecast period (2017–2022). The market is witnessing growth due to the low toxicity of cinnamaldehyde, urbanization resulting in the rising demand for cinnamaldehyde in emerging economies, increasing demand for personal & home care products in developed and developing nations, and changing demographics and income trends in developing countries. An organic compound which provides the taste and smell of cinnamon spice is referred to as cinnamaldehyde.

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When source is taken into consideration, the cinnamaldehyde market is bifurcated into natural and synthetic. Between these two, the synthetic category dominated the market during 2013–2016 and is projected to account for the major share of the market during the forecast period as well, in terms of volume, as synthetic cinnamaldehyde is more economical than natural cinnamaldehyde. In terms of application, the market is divided into odor agent, flavoring agent, and others. Among these, the odor agent division held the largest volume share of the market during the historical period.

Geographically, Asia-Pacific (APAC) accounted for the largest share of the cinnamaldehyde market during the historical period and is expected to dominate the market during the forecast period as well, in terms of volume. The reason for this is the surging population in emerging economies, including China and India, which is creating increasing requirement for personal care and cosmetic products. China accounted for the largest share of the regional market during the historical period and is further projected to retain its position during the forecast period, in terms of volume.

The swift urbanization, which has resulted in rising product demand from emerging economies, is a key driving factor of the cinnamaldehyde market. Urbanization has also led to enhanced facilities and improved lifestyle of middle-class people. The living standard of urban population has risen up, which, in turn, is resulting in the growing demand for discretionary items, such as high-end cosmetics, perfumes, essential oils, and others. In addition to this, cinnamaldehyde is also utilized as a flavoring agent in the food industry for enhancing the flavor and aroma of food.

The surging demand for personal & home care products from both developed and developing countries is also resulting in the growth of the cinnamaldehyde market. As the cosmetics and personal care companies are getting good returns on their investments, the multi-national beauty companies are increasingly investing in potential markets. The consumers are further becoming more inclined toward luxury consumer goods, such as essential oils and perfumes, as their disposable income is increasing.

The rising utilization of cinnamaldehyde as an antimicrobial agent in agricultural practices is key trend in the cinnamaldehyde market. Cinnamaldehyde acts as an effective fungicide when it is applied to the roots of plants. The compound has been proven effective for restraining the growth of inoculated foodborne pathogens for over 40 different crops. In addition to this, cinnamaldehyde has low toxicity and some insecticidal effects, which makes it ideal for usage in the agriculture sector. Attributed to these advantages, several major players have started focusing on research & development of cinnamaldehyde-related products.

Hence, the market is growing due to the rising demand for personal & home care products and rapid urbanization which has led to rising demand for cinnamaldehyde from developing countries.

Net Zero Energy Buildings (NZEBs) Market to Witness Over Two-Times Growth during 2019–2024

Over 35% of the world’s total energy consumption and 40% of its greenhouse gas (GHG) emissions are generated by buildings and the construction sector, as per the World Green Building Council. Since these emissions cause air pollution, there is a growing need to limit them. Another problem with high energy usage is that since most of it is produced from fossil fuels, their reserves are depleting at a high pace, which is leading to the sky-rocketing prices of coal and crude oil. To deal with such issues, the construction of net-zero-energy buildings (NZEB), also termed zero net energy buildings, is being strongly encouraged in nations across the world.

This is why, from $896.6 million in 2018, the Net-Zero Energy Buildings Market is projected to grow to $2,106.6 million by 2024, at a 15.6% CAGR during 2019–2024 (forecast period). Such buildings only use the electricity they generate on site, primarily from renewable sources, such as wind and the sun. Zero net energy (ZNE) buildings are either certified as ZNE-verified or ZNE-emerging. Both these types of infrastructure are constructed for residential as well as commercial purposes. Of these, more such buildings were built for commercial purposes during 2014–2018, as these boast a larger floor space, which raises their value.

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An NZEB uses solar photovoltaic (PV) Panels, insulation panels, and efficient lighting and heating, cooling, and air conditioning (HVAC) Systems to be energy-efficient. Historically, the largest demand was generated for solar PV panels, as most such buildings use the sun to create electricity, which is consumed in high amounts every day. During the forecast period, the usage of all components, including solar PV panels, will continue increasing, due to the rise in the construction of such infrastructure.

Across the world, governments are under pressure to control global warming. The Intergovernmental Panel on Climate Change has claimed that in order to reduce the average worldwide temperature increase by 1.5 °C, countries must achieve net-zero GHG emissions by 2050. Similarly, in 2019, the government of Vancouver, Canada, mandated a 40% reduction in the embodied carbon in new buildings, by 2030. Considering that electricity generation accounts for a large portion of these emissions, governments are actively working to reduce the wastage of energy as well as create it from renewable sources.

For instance, the California Long-Term Energy Efficiency Strategy Plan has been initiated by the public utilities body of the state, to ensure that all residential buildings being constructed by 2020 and all commercial ones by 2030 are NZEBs. Additionally, as per the New Buildings Institute (NBI), California had 214 zero-energy projects in 2018, which increased by 131% from 2014. Further, the state will also retrofit existing commercial and state buildings, to achieve 100% net-zero energy consumption by 2050.

Across the world, North America is currently the largest market for NZEBs, on account of the stiff target in the region to reduce non-renewable energy usage as well as the associated GHG emissions. Even during the forecast period, the continent would account for the highest number of such projects and sale of the required components. Within the region, the net-zero energy buildings market in the U.S. is larger, since such infrastructure is being rapidly built in its south-western and north-eastern regions. The NBI says that in the country, 482 buildings were certified ZNE-verified or ZNE-emerging, in 2018.



Hence, as the focus on reducing the electricity usage and harmful emissions increase, so would the construction of NZEBs.

Growing Wind Power Capacity Driving Wind Tower Market

Wind Tower Market Valued at $26,140.5 million in 2015, the global wind tower market is predicted to advance at a 7.4% CAGR during the forecast period (2017–2022). The market is growing due to the rising need for energy independence and geopolitical energy security, increasing government support for wind projects and stringent environmental regulations, and surging wind power capacity around the world. The structure which supports the wind turbine and its components is referred to as a wind tower. In terms of application, the market is bifurcated into offshore and onshore.

When tower type is taken into consideration, the wind tower market is categorized into concrete towers, lattice towers, tubular steel towers, guyed pole towers, and hybrid towers. Out of these, the tubular steel towers dominated the market during the historical period (2012–2015) and are expected to account for the major share of the market during the forecast period as well. This is because tubular steel towers provide strength to the wind turbines are cost efficient. The hybrid towers are predicted to grow at the fastest pace during the forecast period.

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Among all the regions, namely Asia-Pacific (APAC), Middle East and Africa (MEA), Latin America (LATAM), North America, and Europe, the APAC region held the largest share of the wind tower market during the historical period and is further projected to dominate the market during the forecast period. this is due to the rising need for geopolitical energy security and high rate of fossil fuel depletion. China accounted for the major share of the market during the forecast period. The MEA region is expected to register the fastest growth during the forecast period.

The surging depletion of fossil fuels is a key driving factor of the wind tower market. Globally, energy requirements are primarily fulfilled by fossil fuels, such as petroleum, natural gas, and coal. However, due to continuous exploitation, these resources are now getting depleted rapidly. In addition to this, the increased usage of fossil fuels has resulted in a steady rise in the pollution levels around the world. Hence, in order to reduce emission of harmful gases, consumers are now turning toward alternate sources for energy generation, including wind energy, which is driving the market.

The rising wind power capacity around the globe is another major driving factor of the wind tower market. Unlike energy that is generated from fossil fuels, wind energy is a clean and renewable source of energy. Because of this, a considerable rise has been witnessed in the adoption of wind energy over the years. The cumulative installed wind capacity across the globe rose from 47.6 GW in 2004 to 369.Howevern 2014, and is further projected to witness similar growth in the coming years as well.

The growing need for energy independence & geopolitical energy security is also among the primary driving factors of the wind tower market. The production of alternative fuels in one’s own country is referred to as energy independence, which provides the consumers with an opportunity to choose among non-petroleum fuels for transportation. Energy independence is a long-term vision of various countries, such as Mexico, the U.S., Canada, and Brazil. These countries are particularly focusing on freeing themselves from dependence on other countries for oil.
Hence, the market is growing due to the increasing depletion of fossil fuels, surging wind power capacity, and rising need for energy independence & geopolitical energy security.

Increasing Need from Developing Nations Driving Power Rental Market

The demand for power from the emerging economies, including Qatar, Turkey, India, China, South Korea, Brazil, and Thailand, is surging at the present time due to their swift transformation in terms of industrialization, acceptance of mixed economy, and technological advancements. In addition to this, these countries are continuously witnessing a surge in infrastructure and construction-related activities, which is further supporting their economic growth. All these developmental activities need electricity for the smooth functioning of operations. But many of these countries are devoid of utility services and are completely dependent on rental power for commercial and residential power applications, which is resulting in increasing demand for rental power.



Rental power is basically temporary power generated by rental systems in order to meet the power requirements and is primarily utilized by industries which are located remotely and do not have access to permanent electricity. According to a study conducted by P&S Intelligence, the power rental market generated a revenue of $9,167.6 million in 2017 and is expected to register a 10.3% CAGR during the forecast period (2018–2023). The two major fuel types utilized by power rental generators are gas and diesel. Other fuel types include hydrogen, solar, and gasoline. Among these, the largest demand during 2013–2017 was created for diesel generators.


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Several sectors make use of rental power: oil & gas, construction, mining, utilities, industrial, events, and others (which include military, manufacturing, shipping, and residential & commercial buildings). Out of these, the highest demand for rental power was created by the utilities sector and the situation is projected to remain the same during the forecast period as well. The reason for this is the conversion of aging thermal power plants into natural gas-fueled plants in order to fill the power supply demand gap during the conversion, which is why utility companies are renting power generators. The fastest growth in demand is predicted to be witnessed by the construction sector in the coming years.



Among different regions, namely Europe, Latin America (LATAM), Middle East & Africa (MEA), North America, and Asia-Pacific (APAC), the highest demand for rental power was created by the MEA region during 2013–2017 and the situation is expected to remain the same during the forecast period as well. This is ascribed to the surging requirement for rental power from various end users, including construction, oil & gas, utilities, and events, swift industrialization, outdated power plants, and ongoing infrastructural development.



A key trend being witnessed in the power rental market is the rising popularity of gas and hybrid generators. Gas-based generators are considered pocket and environment-friendly because they are more affordable than conventional fuel-based generators, release less emissions, and create negligible noise. Apart from this, hybrid generators which work on bi-fuel operation mode, using random combinations of diesel, gas, and solar energy, have also been developed. These generators are sustainable, clean, and easily available. It is due to these factors that different companies and consumers have started preferring hybrid generators over diesel generators.

How is Growing Utilization of Electric Vehicles Driving Lithium-Ion Battery Market?

Since the past few years, the demand for electric vehicles has increased significantly due to the surging environmental concerns and fluctuating oil prices. In addition to this, several government agencies around the world are also encouraging the consumers to adopt for electric vehicles by providing various incentives. Among all the potential solutions that do not make use of petroleum, battery electric vehicles are one of the most widespread and popular options. As compared to other mature battery technologies, lithium-ion (Li-ion) batteries are now considered the standard for modern battery electric vehicles due to their excellent specific energy and energy density.

Li-ion batteries are rechargeable batteries which have high energy density and are lighter than other rechargeable batteries of similar size. According to a study conducted by P&S Intelligence, the global lithium-ion battery market reached a value of $33,720.8 million in 2018 and is predicted to attain $1,06,493.0 million in 2024, advancing at a 21.8% CAGR during the forecast period (2019–2024). Geographically, the largest demand for Li-ion batteries was created by the Asia-Pacific region during 2014–2018 and the situation is projected to remain the same during the forecast period as well. This is due to the expanding market for electric vehicles, rising demand for these batteries for smart devices, and technological advancements in the region.

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The different types of Li-ion batteries are lithium manganese oxide (LMO), lithium nickel cobalt aluminum oxide (NCA), lithium cobalt oxide (LCO), lithium nickel manganese cobalt (LI-NMC), and lithium iron phosphate (LFP). Out of these, the LFP type was the most in demand during 2014–2018 due to the extensive use of these batteries in China. The fastest growth in demand is expected to be witnessed by the LI-NMC type in the coming years because these batteries have high thermal stability, longevity, and storage range. Furthermore, the manufacturers and researchers are increasingly focusing on NMC cathode in order to reduce the cobalt content, which will make the battery cheaper.

When application is taken into consideration, the lithium-ion battery market is categorized into automotive, medical, industrial, consumer electronics, aerospace & defense, telecom, and others (which include cordless tools, gardening tools, marine equipment & machinery, and security lighting). Among these, the Li-ion batteries were utilized the most for the consumer electronics application during 2014–2018. However, in the coming years, the demand for these batteries is projected to be the highest for the automotive application due to the shift from traditional internal combustion vehicles to electric vehicles in developing countries, which are focusing on reducing the carbon emissions.

Despite the rising usage of Li-ion batteries in the automotive sector, their high adoption in consumer electronics products is a factor resulting in their increasing requirement. The demand for consumer electronic products is growing because of the expanding middle-class, surging inclination toward using smart electronic devices, and changing lifestyle preferences. Moreover, governments around the globe are focusing on digitalization and promoting the usage of different electronic devices among consumers. Li-ion batteries are the dominant battery technology in the consumer electronic products’ market due to their advantageous characteristics, which is driving their demand.