Plastic Recycling Market Boom to be Led by Europe during 2019–2024

As per a report by P&S Intelligence, the global plastic recycling market is projected to attain a revenue of $64,139.7 million by 2024, growing from $41,238.8 million in 2018, and is predicted to progress at an 8.6% CAGR during the time period 2019–2024. The market is growing due to the rising pressure to decrease waste dumping, increasing requirement for reprocessed by end-use industries, and surging installation of plastic recycling facilities in European and North American countries.


The Chinese government implemented a blanket ban on the import of 24 types of waste materials, which included non-industrial plastic waste, in December 2017. The move came as something unexpected to the global recycling market, and led to the disruption of the plastic waste exports all across the globe. The mover further lead to the shifting of China-based reprocessing facilities to South Asian countries, including Thailand, Indonesia, Vietnam, India, and Malaysia.


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Historically, Europe sent most of its waste to China for recycling, but with the banning of plastic waste import there, European nations have had to reroute their exports to South Asian countries, which have fairly low reprocessing capacities. As a result, recycling is picking up pace in Europe, with a large chunk of the waste being dumped in landfills and incinerators. In 2018, the European Commission adopted the Plastics Strategy, which is aimed at developing better reprocessing technologies. Further, $270 million (EUR 250 million) has been invested to create plastics with better recyclability.


Asia-Pacific is currently the largest plastic recycler, due to its high reprocessing capacity, which is itself a result of the high import as well as locally generated volumes of such waste. Additionally, the low labor cost makes manual activities, such as cleaning, collection,and sorting, cost-effective, which is another reason for the high recycling rate of APAC. During the forecast period, the plastic recycling market growth in Europe would be the fastest, as a result of the establishment of more reprocessing plants and strict targets to ensure environment sustainability.

Demand for Chitosan Projected to Rise in Asia-Pacific

The food & beverages industry has been registering considerable growth over the past few years, which can be owing to the changing lifestyle of people in developing countries, growing penchant for trying new cuisines, rising disposable income of people, introduction of packaged food items, and busier lifestyle of people. The growing need for packaged, ready-to-eat food especially is a key trend in the food & beverages industry. Enhanced packaging solutions are needed for keeping packaged food fresh for a longer time and maintaining its quality, which is why the industry is making use of bioactive packaging films.


This, in turn, is leading to the increasing demand for chitosan, what is utilized for manufacturing bioactive packaging films. Chitosan is utilized in these films because it aids in enhancing the preservation method. As per a study conducted by P&S Intelligence, the global chitosan market is expected to progress at a substantial pace in the years to come. A sugar that is procured from the hard outer skeleton of a shellfish, such as shrimp, lobster, and crab, is referred to as chitosan. It is majorly utilized as for treating different conditions and is also used in the pharmaceutical industry.


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In fact, the growing adoption of chitosan in biomedical and pharmaceutical application is expected to open up wide opportunities for the companies operating in the domain. Chitosan is versatile, non-toxic, and biodegradable, thereby making it highly suitable for applications in the biomedical sector. A number of studies have been conducted and the results show that chitosan has antioxidant and wound healing properties and is also able to kill bulk fungal species that are pathogenic to humans. Furthermore, the nanoparticles of chitosan are used widely in vaccine and drug delivery, where it works as an antimicrobial agent, and is used in tissue engineering.


Geographically, the chitosan market has been categorized into North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), and Middle East & Africa (MEA). The demand for chitosan is expected to witness a rise in the APAC region in the coming years, owing to the increasing investments in the medical sector, particularly in emerging economies, including China, India, and Thailand and other Southeast Asian countries. In addition, with the growing focus on the medical sector in these countries, the market for chitosan holds a significant potential for growth during the coming years.

How is Rising Focus on Renewable Energy Driving Demand for Solar Trackers?

As the demand for energy is increasing, the utilization of renewable energy, including solar energy, has risen significantly as well. Solar energy is one of the cleanest forms of energy all across the globe and significantly help in reducing carbon emissions. While before, solar was only being used in the commercial sector, owing to its high price, these days, the price of solar panels has decreased and they are also being installed in residential sectors. Governments of various countries, such as Japan, are also taking initiatives for increasing the adoption of solar energy.


Attributed to this, the demand for solar trackers, which are used for enhancing the efficiency of solar panels, is rising as well. As per a report by P&S Intelligence, the global solar tracker market is expected to progress at a considerable rate in the years to come. These devices direct solar modules towards the sun and keep changing their orientation as the day passes to follow the path of the sum for maximizing energy capture. It has been observed that the use of solar trackers can increase the energy production by approximately a third, also by 40% according to some claims, as compared to fixed modules.


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The different types of solar trackers are dual axis and single axis, between which, the demand for single axis is predicted to be considerably high in the near future. These solar trackers are utilized extensively in utility solar projects, as these projects are located on large lands without any space constraints of a commercial or residential roof space. In addition to this, the low cost of installation and maintenance of these variants is also resulting in their growing adoption. Among the major application areas of solar trackers, including utility, commercial, and residential, a substantial demand for these devices was created is projected to be created by the utility sector.


Based on region, the solar tracker market is categorized into North America, Europe, Latin America (LATAM), Asia-Pacific (APAC), and Middle East and Africa (MEA). Among all regions, North America holds considerable share in the market, owing to rapidly declining panel costs along with the implementation of stringent environmental regulations to reduce the carbon emission level generated by non-renewable sources. For instance, as per the National Renewable Energy Laboratory (NREL), module costs for commercial PV systems decreased from USD 1.88/W in 2017 to USD 1.83/W in 2018, witnessing a decline of around 3%.

What is Key Factor Fuelling Sales of Transparent Ceramics in Asia-Pacific (APAC)?

“One of the key factors responsible for the soaring demand for transparent ceramics is the increasing aircraft production in several countries around the world”. In addition to this, the surging investments being made in defense procurement and defense industry, on account of the rising terror activities and growing concerns regarding security and defense, are contributing massively toward the rising requirement of transparent ceramics throughout the world. In many countries, there has been a significant rise in fighter aircraft procurement rates over the last few years.


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“Besides their use in the production of defense aircrafts, transparent ceramics are also extensively used in commercial aircraft manufacturing”. The increasing commercial aircraft production all over the world, because of the rising passenger footfall, especially in various European and Southeast Asian countries, is causing a sharp surge in the sales of transparent ceramics. For example, “the number of aircraft orders received by The Boeing Company rose from 806 in 2018 to 893 in January 2019”. Due to this massive rise in aeroplane orders, the demand for transparent ceramics also increased across the world.



Hence, with the increasing manufacturing of aircrafts, the global transparent ceramics market will exhibit tremendous growth between 2020 and 2030. In simpler terms, transparent ceramics are defined as polycrystalline materials having certain light transmittance, that are harder, stronger, and have greater corrosion resistance as compared to the glass materials and optical resin. Electrical and electronics, aerospace and defense, medical, and energy are the main end users of transparent ceramics. Out of these, the usage of these materials is predicted to be very high in aerospace and defense applications in the future years.


Geographically, the transparent ceramics market has been categorized into North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), and Middle East and Africa (MEA). The market in APAC is expected to account for a significant share throughout the forecast period. This can be ascribed to the high government spending on the defense sector, owing to a rise in security threats. For instance, in February 2020, the Indian government allocated $66.9 billion (INR 4,71,378 crore) to the defense sector, for the fiscal year 2020–2021, which is a significant hike from the allocation of $44.5 billion (INR 3,18,000 crore) for the fiscal year 2019–2020. In addition, as per Stockholm International Peace Research Institute (SIPRI), the U.S. defense spending stood at $649 billion, which was more than the next seven countries combined (China, Saudi Arabia, India, France, Russia, U.K., and Germany).

Seed Treatment Set to Revolutionize Agriculture Sector in Future

Seed treatment is defined as a process in which various biological or chemical agents such as insecticides, pesticides, and fungicides are applied to the seeds for protecting them against seed-borne organisms and insects. These chemicals also protect the crops from pests, pathogens, and insects. This process is very important for sustainable crop production as it provides protection to the crops from pre- and post-emergent diseases and insects across a plethora of environmental conditions and soil types. Seed treatment improves the nodulation in legume crops and also allows a uniform crop growth.


This process is mainly performed for improving seed germination, protecting the seed from seeding blights and rot, providing protection from insects present in the soil, and controlling the soil insects. The main reason behind the soaring adoption of seed treatment is the increasing demand for food items in several countries, on account of the growing population levels. Additionally, the increasing policies and incentives being implemented by the governments of many countries for increasing awareness about advanced farming techniques, botanical diseases, and crop protection items that keep insects and pests at bay is massively boosting the demand for seed treatment procedures.


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In addition to this, “the ballooning requirement of higher crop yield is propelling the demand for the incorporation of seed treatment in agricultural processes, especially in the developing countries such as India, China, Thailand, and Brazil”. Moreover, “the major crops such as pulses, groundnuts, mustard, and wheat are extremely vulnerable to various seed and soil borne diseases during the different seed growth stages”. These diseases drastically reduce the yield of the crops, which causes heavy losses to the farmers. Because of these reasons, the global seed treatment market is predicted to exhibit exponential growth between 2020 and 2030.


Across the globe, “the seed treatment market will boom in Asia-Pacific (APAC) in the upcoming years, as per the predictions of P&S Intelligence, a market research company based in India”. This is predominantly because of the fact that many countries in the APAC region are agriculture-dependent economies such as India, China, and many Southeast Asian nations. Additionally, the ballooning need for food products is creating a huge demand for seed treatment in the region.