Sales of Power Tool Batteries Set to Climb in Coming Years

Power tool batteries are the devices that supplement various instruments and tools such as circular saws, band saws, hammer drills, impact wrenches, impact drivers, and crimpers. These batteries provide greater working efficiency to the users on account of their easier handling due to mobility. They also mitigate shock hazards and reduce trips. According to a report produced by the National Council on Compensation Insurance (NCCI), these batteries significantly reduced the compensation claims of workers in the last few years.



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A key factor fueling the surge in the sales of power tool batteries is the growing usage of various cordless instruments in the construction and automotive industries and the surging utilization of power tools in residential applications across the world. The construction and automotive industries are increasingly incorporating the use of mobile equipment for enhancing the efficiency of the manufacturing processes and mitigating shock and tripping hazards. Besides this, the usage of power tools is rapidly increasing in residential applications mainly because of the rising labor costs.



Due to the aforementioned factors, the global power tool batteries market is predicted to exhibit rapid expansion in the coming years. Nickel–metal hydride, lithium-ion, and nickel-cadmium are the most commonly used types of power tool batteries throughout the world. Out of these, the utilization of the lithium-ion batteries is presently being observed to be the highest in power tools, primarily due to their longer lifespans on one charge and lesser vulnerability to voltage depression, which is a common occurrence in the nickel-cadmium power tool batteries.


Based on region, the power tool batteries market is categorized into North America, Europe, Latin America (LATAM), Asia-Pacific (APAC), and the Middle East and Africa (MEA). North America holds a significant share, on account of the large manufacturing industry and increasing automotive sale in this region. Additionally, APAC is expected to witness promising growth, as a result of the rising number of construction and infrastructure projects and shift in the manufacturing base of companies from developed economies to developing economies, due to cheap labor.

Steep Rise Expected in Global Demand for Methyl Isobutyl Ketone (MIBK) in Future

The surging adoption of electric and lightweight vehicles has massively boosted the growth of the automotive industry in several countries around the world. Due to this factor, there has been a drastic rise in the demand for methyl isobutyl ketone (MIBK), which is widely used as a highly suitable solvent for the rubber chemicals that are extensively used in the production of the rubber used in automobile tires. The rapid progress of the automotive industry will further boost the requirement of MIBK all over the globe.



The other major factor fueling the sales of MIBK is the large-scale utilization of the compound in the construction sector. The construction sector is witnessing rapid growth in many countries, especially developing nations, on account of the huge investments being made in the various infrastructural development and construction projects in these countries. MIBK is heavily used for cleaning and thinning epoxy coatings, vinyl coatings, and various other high-performance coatings. Moreover, the excellent quality of finish provided by the compound makes it a highly sought-after material in construction applications.



Hence, with the growing production of automobiles and increasing construction activities in many developing countries, the global methyl isobutyl ketone market will exhibit huge expansion in the future years. Methyl isobutyl ketone is basically an organic compound which is extensively used as a solvent for varnishes, paints, resins, lacquers, and gums. The compound is made from acetone through a three-stage process. In the first stage, diacetone alcohol is produced after acetone is made to undergo an aldol reaction. Diacetone alcohol is then dehydrated to produce mesityl oxide, which is then hydrogenated to produce MIBK.


Geographically, the MIBK market is predicted to register rapid expansion in the Asia-Pacific (APAC) region in the years to come, as per the estimates of the market research company, P&S Intelligence. This is primarily attributed to the mushrooming requirement of the product in various end-use industries such as paints and coatings and automotive in the region. Further, the thriving automotive industry in several APAC nations will massively push up the sales of the compound in the region in the near future.



Thus, it can be said without any hesitation that the demand for methyl isobutyl ketone will shoot-up throughout the world in the years ahead, mainly because of the growing usage of the compound in the paints and coatings and automotive industries and the surge of the automotive industry in several countries around the world.

Antimicrobial Additives Market To Witness 7.5% Growth during 2020–2030

Valued at $2,010.2 million in 2019, the global antimicrobial additives market is predicted to attain a valuation of $3,786.8 million by 2030, demonstrating a CAGR of 7.5% during 2020—2030. The market is being mainly driven by the rapid growth of the healthcare industry, on account of the increasing incidence of chronic diseases, growing geriatric population, and improving healthcare facilities, especially in the developing nations and the surging awareness of infectious diseases across the world.




Between the inorganic and organic categories under the type segmentation of the antimicrobial additives market, the inorganic division is predicted to demonstrate faster growth in the market in the future years. This is ascribed to the fact that the inorganic additives have several favorable chemical characteristics and are non-toxic, unlike the organic variants.


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In the coming years, the healthcare category, under the end-use segmentation of the antimicrobial additives market, is predicted to dominate the market, on account of the rising prevalence of different types of hospital-acquired infections (HAI) across the globe. As per the research paper published on Antimicrobial strategies for polymeric hygienic surfaces in healthcare, 0.8 million and 4 million people suffer from HAIs each year in North America and Europe respectively. The incidence of these infections is even higher in the emerging economies, due to the poor hygiene standards in those countries. Thus, with the increasing public awareness about hygiene and HAIs, the usage of antimicrobial additives in medical devices and healthcare products would increase in the upcoming years.


Geographically, the antimicrobial additives market registered the highest growth in North America during the last few years, mainly because of the high prevalence of HAIs in the region. Additionally, the excessive consumption of antibiotics has caused high bio-resistance in a majority of the population, thereby increasing the difficulty of tackling the problem of the resistant strains of pathogens in the region. Furthermore, antimicrobial additives-based products selling companies charge high prices for their products on account of the high spending power of people in the North American countries.