Bio-Based Resins Market – Increasing Demand from Packaging Industry Fuelling Growth in Market

An impressive growth rate will be charted by global bio-based resins market over the next few years owing to a string of trends and drivers, whose interplay is set to keep the market moving upward and forward. One of the most notable driving factors of the market is demand arising from the packaging sector.

As the millennial populace – woke and picky – asks for eco-friendly products, demand for bio-based resins increase. The demand is a result of people, new-age consumers, being careful of their choices and how they impact the environment. In a recent study, it was noted that this demographic is also ready to pay a premium price for sustainable products.

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North America and Europe will be dominant regions, holding a sizeable chunk of the overall growth in bio-based resins market over the next few years. Germany will be at the forefront of growth in the latter owing to factors such as increasing demand from agriculture industry, packaging industry, consumer goods industry, and electronics. It is quite pertinent to note here that while in this country, packaging industry is growing at a fast pace, the electronics industry is biggest of its kind in the region and fifth largest in the world. Growth in construction sector is also set to contribute positively to growth in Germany’s bio-based resins market.

The vendor landscape of global bio-based resins market boasts of a large number of players operating in the field. Some of the top tier players include Arkema SA, Archer Daniels Midland Co., Ashland LLC, BASF SE, Braskem SA, Corbion NV, DuPont de Nemours Inc., Huntsman International LLC, Koninklijke DSM NV, and Trinseo SA, among others. In order to stay ahead of competitors in this fragmented landscape, a variety of growth strategies are put to use. These include a wide variety, ranging from mergers and acquisitions and partnerships and collaborations to product development and reliance on innovation.

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Increased Demand from Various Sectors Drives Growth of Industrial Vacuum Evaporation Systems Market

The global industrial vacuum evaporation systems market is all set to register high growth trajectory in the upcoming period. This growth is attributed to increased use of industrial vacuum evaporation systems in companies from all across the world. Industrial vacuum evaporation systems are considered one of the efficient systems used in the treatment and minimization of industrial wastewater. Pharmaceutical, water and wastewater, food and beverage, printing, textile, and power generation are some of the key end-users of the products from the industrial vacuum evaporation systems market.

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Owing to Dynamic Features, Industrial vacuum evaporation systems Gain Popularity among Industries

Industrial vacuum evaporation systems are used in various industries owing to their ability of efficiently removing and concentrating salts, heavy metals, and various harmful components from wastewater. In addition to this, they assist in converting the industrial wastewater into superior quality, reusable distillate (ZLD) water. The industrial vacuum evaporation systems have no discharge treatment. Owing to all these benefits, the players working in the global industrial vacuum evaporation systems market are witnessing high demand avenues.

Industrial vacuum evaporation system is mainly used in the water desalination plants or wastewater plant. These systems are gaining popularity owing to plethora of features they offer. Advanced industrial vacuum evaporation systems hold an ability to treat around 250–2,000 liters of water per hour. One of the most important features is the cost-effectiveness of these systems. These factors connote the opportunities for growth of the global industrial vacuum evaporation systems market.

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Players Pour Efforts to Gain Leading Market Position

The global industrial vacuum evaporation systems market is moderately fragmented in nature. Players are chasing diverse strategies to gain leading position in the market for industrial vacuum evaporation system. They are growing efforts to offer advanced quality products. In addition to this, they are executing various strategies to grow their regional presence as well. Some of the key tactics in trend are partnerships and collaborations.

AI to find use to Improve Performance of Fuel Cells

In a new development, AI may find use to explore possible designs for the microstructure of lithium-ion batteries and fuel cells. This may help prevent researchers run 3-D simulations to make changes for improved performance.

The improvements in fuel cells and lithium-ion batteries using AI could help smartphones charge faster, increase the power of hydrogen fuel cells that run data centers, and increase the time interval between charging electric vehicles.

The findings of the study is published in npj Computational Materials.

AI to help Examine Microstructure of Fuel Cells

Meanwhile, fuel cells use renewable hydrogen fuel, which is generated using solar and wind energy, to generate heat and electricity. And, lithium-ion batteries used in laptops, smartphones, and electric cars are a popular form of energy storage. The performance of fuel cells and lithium-ion batteries is significantly related to their microstructure. This is closely related to how pores inside the electrodes are shaped and the arrangement can affect power that fuel cells generate, and how quickly charging and discharging of battery happens.

Nonetheless, due to extremely small size of micrometer-scale pores, their specific sizes and shapes can be difficult to examine at resolution high enough to relate them to overall cell performance.

To present a solution to this, researchers at Imperial have machine learning techniques. This helps them to explore the pores virtually and perform 3-D simulations to foretell cell performance based on their microstructure.

For this, the researchers employed a novel machine learning technique “deep convolutional generative adversarial networks. The algorithms of this novel machine learning technique gains insights to generate 3-D image data of the microstructure. And, the image generated using algorithms of novel machine learning technique are based on training data of synchrotrons obtained from nano-scale imaging.

Growth in E-commerce Business to Drive Clear PVC Boxes Market

A PVC box is a packaging solution, which finds extensive utilization across various platforms in a wide range of industries. PVC boxes have come up as an increasingly preferable option for packaging goods, thanks to its high quality transparency. The clear PVC boxes are transparent and flexible packaging solutions, which are mostly utilized for the purpose of consumer goods. Augmented demand for this form of packaging is likely to encourage expansion of the global clear PVC boxes market in the years to come.

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Increased Consumer Spending on Goods to Fuel Demand in the Market

Packaging industry is always in need of upgradation in terms of design and appearance of products. This type of packaging solutions is used in a bid to attract the attention of customers as these packaging boxes are made of transparent materials. Properties of these clear PVC boxes comprise printability, labelling, and appearance, which further add to the value of these boxes. Lately, retail and e-commerce businesses have been witnessing tremendous growth, which is likely to pave way for the growth of the global clear PVC boxes market. An increasing number of vendors on e-commerce platforms make use of clear PVC boxes for the purpose of packaging goods.

Rising in the disposable income of people has been fanning the purchasing power of consumers. There has been a huge rise in the demand and consequent sale of various types of consumer goods, which is likely to work in favour of the global clear PVC boxes market in the years to come. Better lifestyle together with aggressive marketing of consumer and other goods are likely to augur well for the growth of the global clear PVC boxes market in the years to come. Besides, technological advancement made in the packaging industry is likely to assist the manufacturers in coming up with innovative and attractive designs, which is likely to garner attention of the consumers.

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