The global corrugated boxes market is predicted to attain a revenue of $284.6 billion by 2030, rising from $180.9 billion in 2019, progressing at a 4.3% CAGR during the forecast period (2020–2030), according to a P&S Intelligence report. The key factors contributing to the growth of the market are the increasing demand for convenient and lightweight packaging solutions in a number of industries and the swift expansion of the offline retail and e-commerce industries across the globe.
Bismuth Nitrate is rapidly becoming the favorite compound of pharmaceutical companies across the globe. This is mainly because of the ability of the bismuth nitrate-formulated medicines to treat kidney damage caused because of chemotherapies. In addition to this, these medicines prevent bone marrow damage caused because of radiation and prevent the occurrence of digestive tract infections that can subsequently lead to ulcers (Helicobacter pylori). Because of these reasons, bismuth nitrate is experiencing mushrooming demand for pharmaceutical companies around the world.
The economic situation in various emerging economies has improved significantly, owing to which, the disposable income of people has increased as well. Ascribed to this, the expansion of the automotive sector has been steady in countries including Brazil, China, Mexico, and India. As the purchasing power of people in these countries has grown, they are spending widely on new vehicles. In addition to this, the awareness regarding the use of lubricants for proper functioning of vehicles has risen as well.
Rapid Industrialization, especially in the developing nations, is one of the biggest factors fuelling the rise in the demand for corrugated packaging solutions across the globe. According to the Central Intelligence Agency’s (CIA) World Factbook, the value of the industrial production in China was $3.7 trillion in 2012, as compared to its value of $2.9 trillion in the U.S. during the same year. Furthermore, the increasing per capita income, soaring international trade activities, and expansion in several industries are further boosting the requirement of corrugated packaging solutions throughout the world.
The concerns regarding limitation of water resources and environment have been on a rise for a few years now. The population across the world has increased significantly, owing to which, the existing resources are not able to meet the demands of people. This, in turn, has created the need for advanced solutions that are also sustainable for catering to the needs of people in a way that does cause any more harm to people. One of such solutions that have been developed recently is the concept of aquaponics.
The global ultra-thin solar cells market generated a revenue of $30.0 million in 2019 and is predicted to grow at a 56.9% CAGR during the forecast period (2020–2030). The increasing requirement for renewable energy and decreasing prices of photovoltaic (PV) panel components are expected to drive the ultra-thin solar cells market in the coming years. In terms of technology, the market is divided into gallium arsenide (GaAs), cadmium telluride (CdTe), and copper indium gallium diselenide (CIGS), among which, the demand for CdTe was the highest, in 2019.
The large-scale utilization of polypropylene in the packaging industry is one of the major factors fuelling its rising demand all over the globe. According to PlasticsEurope, in 2018, the total plastic production in the world was recorded to be 359 million tons. This is ascribed to the huge requirement of plastics in the building and construction and packaging industries. Furthermore, polypropylene registered the highest demand amongst the different types of plastics because of its high tensile strength and was thus used extensively in hinged caps, snack and sweet wrappers, microwave containers, automotive parts, bank notes, pipes, and food packaging.
In 2019, the global fatty acid esters market generated a revenue of $2,240.9 million and is predicted to progress at a CAGR of 4.6% from 2020 to 2030. According to the forecast of the market research firm, P&S Intelligence, the market would attain a valuation of $3,688.9 million in 2030. The growing public awareness about bio-lubricants and the burgeoning requirement for the substance in the personal care and cosmetics industry are the key factors driving the advancement of the market.
From homes to hospitals, plastics are an integral part of human life. Plastic objects are often durable enough and a lot cost-effective than those made of metal and wood, which is why their usage for almost everything is rapidly increasing day by day. While the material is versatile and convenient, it also has a sinister side. It takes an eternity to decompose, while certain types of plastics don’t decompose at all, which is leading to mounting waste and pollution.
Compared to $8,830.307, the average person earned $11,428.57 in 2019, as per the World Bank. With the increasing per capita income, people’s purchasing power is rising too, which is being reflected in the growth of numerous industries, especially food and beverage. With more money to spend, people in developed and developing countries are not only eating out more often, but also purchasing packaged food, which is more expensive than fresh food.