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New Regulations to Boost Investments into Battery Recycling in the EU

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Archives, Global Trade Daily, News

New Regulations to Boost Investments into Battery Recycling in the EU

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IndexBox has just published a new report: ‘EU – Electric Accumulators – Market Analysis, Forecast, Size, Trends and Insights’. Here is a summary of the report’s key findings.

The battery market in the EU is expanding on the heels of growth in the electric vehicle and renewable energy industries. In July 2021, the EU instituted new regulations that force battery producers to diminish greenhouse gas emissions throughout all stages of the product lifecycle. Increases in mandatory levels of recovered batteries and the share of recycled materials used in new ones will lead to a critical need for additional recycling capabilities and could drive an investment boom in the market.

Key Trends and Insights

The Global Battery Alliance projects that by 2030 worldwide demand for batteries will increase 14 fold due to the widespread implementation of electric transport methods and deployment in electricity grids. The EU may account for 17% of global demand. In 2030 demand for lithium batteries is forecast to surpass the current amount by a factor of 18, cobalt by 5 and in 2050 by a factor of 60 and 15 respectively.

In July 2021, the EU implemented new regulations to ensure safe use, recycling and disposal of batteries. These regulations could lead to serious changes in the accumulator market. From July 1, 2024, producers selling batteries in the European market will have to provide declarations indicating the carbon footprint created throughout production. Then from July 1, 2027, they must comply with maximum lifecycle carbon footprint thresholds for their products. This will push expenses for producers up as they implement technologies to reduce greenhouse gases. To help companies stay competitive, the new regulations outline developing a plan where governments are obligated to purchase products manufactured with green technologies.

In Europe, over 1.9 million tonnes of waste batteries are generated annually. The current level of recycled materials in the EU is significantly low: only 12% of aluminium, 22% of cobalt, 8% of manganese, and 16% of nickel used within the EU is recycled. Currently, almost no lithium is recovered in the EU because it is deemed to not be cost-effective.

In accordance with the new regulations, targets are set for recovering metals from waste batteries at 90% for cobalt, copper, lead, and nickel, and 35% for lithium by the end of 2025. By 2030 the recovery level should reach 95% for cobalt, copper, lead and nickel, and 70% for lithium. This will require a significant increase in capacity to recycle batteries and thus provide new opportunities for investors. The sector for lithium is one the fastest growing areas and is forecast to expand by 30% annually, experiencing the highest level of demand for recycling capacity.

Electric Accumulator Imports in the EU

In 2020, approx. 1.2B units of electric accumulators were imported in the EU; with a decrease of -8.1% against the previous year’s figure. In value terms, accumulator imports soared to $23.1B (IndexBox estimates) in 2020.

Germany represented the largest importing country with an import of about 386M units, which finished at 33% of total imports. It was distantly followed by Poland (199M units), Hungary (168M units), the Netherlands (96M units), France (65M units) and the Czech Republic (58M units), together achieving a 49% share of total imports. Italy (37M units) followed a long way behind the leaders.

In value terms, Germany ($7.5B) constitutes the largest market for imported electric accumulators in the EU, comprising 32% of total imports. The second position in the ranking was occupied by France ($2.4B), with a 11% share of total imports. It was followed by the Netherlands, with a 6.8% share.

In 2020, the average annual rate of growth in terms of value in Germany totaled +48.6%. The remaining importing countries recorded the following average annual rates of imports growth: France (+1.6% per year) and the Netherlands (+3.4% per year).

The accumulator import price in the EU stood at $20 per unit in 2020, growing by 43% against the previous year. In 2020, the most notable rate of growth in terms of prices was attained by the Czech Republic, while the other leaders experienced more modest paces of growth.

European Imports of Primary Cells and Primary Batteries

Germany represented the major importing country with an import of around 3.1B units, which amounted to 33% of total imports. It was distantly followed by Poland (1,470M units), Belgium (743M units), Romania (624M units), France (605M units), the Netherlands (495M units), Italy (474M units) and Spain (452M units), together constituting a 52% share of total imports.

In value terms, Germany ($534M) constitutes the largest market for imported primary cells and primary batteries in the European Union, comprising 23% of total imports. The second position in the ranking was occupied by France ($238M), with a 10% share of total imports. It was followed by Poland, with a 10% share.

In Germany, the value of battery imports declined by an average annual rate of -2.3% in 2020. The remaining importing countries recorded the following average annual rates of imports growth: France (+10.3% per year) and Poland (+22.0% per year).

Source: IndexBox Platform

titanium
Archives, Global Trade Daily, News

Titanium Prices to Keep Elevated on Production Shortages and Rising Demand from the Paint and Aerospace Industries

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IndexBox has just published a new report: ‘World – Titanium Ores and Concentrates – Market Analysis, Forecast, Size, Trends and Insights’. Here is a summary of the report’s key findings.

In the first half of 2021, prices for titanium and its derivatives shot up in response to rising demand and a drop in titanium mining last year, as well as titanium shaving stocks reduction. The rebound in the chemical and aerospace industries is a key driver for the rising demand for the metal. The potential use of titanium derivatives in alternative energy is set to stimulate further market expansion. Robust demand expectations are to keep prices elevated in the immediate term.

Key Trends and Insights

In 2021, the recovering demand from the downstream industries led to an increase in titanium prices. According to data from Asian Metal, the price for Chinese titanium sponge rose from a low of $6.9 per kg in July 2020 to $10.5 per kg in June 2021.

The prices of titanium scrap jumped in 2021 due to a drop in global stocks of shavings, a byproduct of aircraft manufacturing. According to IndexBox estimates, the average import price for titanium scrap increased from $2.9 per kg in January 2021 to $4.1 in April 2021. During this period, the import price for titanium dioxide increased from $2.6 to $3.2 per kg, while the import price for titanium fluctuated within the range of $11.3 – $14.7 per kg. Strong expectations of further market growth are expected to drive prices further in the medium term, at least until any new positive data on titanium mining will arrive.

According to IndexBox estimates based on USGS data, the global production of titanium ores and concentrates in 2020 decreased by 1.2% y-o-y to 13M tonnes. The 2020 lockdowns led to a drop in demand for titanium concentrates from stagnating chemical, metallurgical and aerospace industries. The pandemic-related mine closures were also a factor behind the production drop.

The growth in demand for titanium from the paint and varnish industries remains the main market driver. Titanium dioxide is one of the most sought-after pigments and fillers in the paint, coating and plastics industries. The demand for paints and varnishes is growing markedly due to the construction boom and the recovery of the automotive industry. The rising trend in the construction of super-large container ships will be relevant in the medium term and should sharpen the need for paints with titanium dioxide.

The reopening of air travel and water transport will increase the need for the renewal of aircraft fleets and will lead to a further increase in demand for titanium as it is the main metal used in their construction. One of the world’s largest airliner manufacturers, Airbus, has announced plans to expand production, expecting the demand for airliners to recover to pre-crisis levels within the next two years. According to quarterly reports for 2021, Boeing and Airbus increased aircraft deliveries in the second quarter of this year compared to the same period in 2020, which indicates a recovery in demand.

The commercialization of technology for manufacturing semiconductor photocatalysts based on titanium dioxide, which are used for hydrogen fuel production, water and air purification, etc, may act as a new stimulus for the titanium market to develop. Industrial filters based on titanium dioxide neutralize organic gas emissions by converting them into carbon dioxide and water. This process could become a cheaper alternative to the traditional after-burning of factory off-gases. Titanium dioxide can be used in manufacturing solar cells and batteries. This technology could compete commercially with traditional silicon batteries if the efficiency of titanium dioxide batteries can be raised by up to 30%.

Global Titanium Ore Production by Country

In 2020, after two years of growth, there was a decline in the production of titanium ores and concentrates, when its volume decreased by -1.2% to 13M tonnes. In value terms, titanium ore and concentrate production shrank slightly to $7.8B in 2020 estimated in export prices.

The countries with the highest volumes of titanium ore and concentrate production in 2020 were China (4.2M tonnes), Canada (2.1M tonnes) and Mozambique (1M tonnes), with a combined 56% share of global production. These countries were followed by South Africa, Australia, Ukraine, Norway, Senegal, Madagascar, Kenya, South Korea, India and Viet Nam, which together accounted for a further 40%. Moreover, titanium ore and concentrate production in China exceeded the figures recorded by the world’s second-largest producer, Canada, twofold.

From 2012 to 2020, the most notable rate of growth in terms of titanium ore and concentrate production, amongst the leading producing countries, was attained by Senegal, while titanium ore and concentrate production for the other global leaders experienced more modest paces of growth.

Global Titanium Ore Exports by Country

In 2020, shipments abroad of titanium ores and concentrates decreased by -20.3% to 3.1M tonnes, falling for the third year in a row after two years of growth. In value terms, titanium ore and concentrate exports fell to $1.3B (IndexBox estimates) in 2020.

In 2020, South Africa (724K tonnes), Ukraine (539K tonnes), Senegal (509K tonnes), Kenya (400K tonnes), South Korea (275K tonnes) and India (255K tonnes) represented the key exporter of titanium ores and concentrates in the world, achieving 86% of total export. It was distantly followed by Australia (152K tonnes), committing a 4.8% share of total exports. The U.S. (58K tonnes) took a little share of total exports.

In value terms, South Africa ($486M) remains the largest titanium ore and concentrate supplier worldwide, comprising 38% of global exports. The second position in the ranking was occupied by Kenya ($157M), with a 12% share of global exports. It was followed by Ukraine, with a 11% share.

In 2020, the average titanium ore and concentrate export price amounted to $408 per tonne, rising by 19% against the previous year. From 2012 to 2020, the most notable rate of growth in terms of prices was attained by Kenya, while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform

lactose
Archives, Global Trade Daily, Imports/Exports, News

The U.S. Lactose Export Prices Soar

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IndexBox has just published a new report: ‘U.S. – Lactose And Lactose Syrup – Market Analysis, Forecast, Size, Trends and Insights’. Here is a summary of the report’s key findings.

The U.S. remains the leading supplier of lactose and lactose syrup with a 36%-share in global exports. While the volume of lactose shipments from the U.S. was almost unchanged from the previous year, exports in value terms jumped by 8% to $396, as the average exports price has significantly risen. Despite the trade tensions, China remains the key importer of lactose from the U.S., followed by New Zealand and Japan.

Exports from the U.S. by Country

The U.S. remains the largest exporter of lactose and lactose syrup worldwide, accounting for 36% of the global exports. In 2020, lactose exports from the U.S. fell modestly to 379K tonnes, standing approx. at the year before. In value terms, lactose exports expanded rapidly by +8.2% to $396M (IndexBox estimates) in 2020.

In 2020, the average lactose export price amounted to $1,045 per tonne, with an increase of +8.3% against the previous year. There were significant differences in the average prices for the major export markets. In 2020, the country with the highest price was Canada ($1,314 per tonne), while the average price for exports to Viet Nam ($857 per tonne) was amongst the lowest. In 2020, the most notable rate of growth in terms of prices was recorded for supplies to Viet Nam, while the prices for the other major destinations experienced more modest paces of growth.

China (69K tonnes), New Zealand (46K tonnes) and Japan (42K tonnes) were the main destinations of lactose exports from the U.S., together comprising 41% of total exports. Mexico, Indonesia, Viet Nam, the Philippines, South Korea, India, Singapore, Thailand, Canada and Brazil lagged somewhat behind, together accounting for a further 46%.

In 2020, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Thailand, while exports for the other leaders experienced more modest paces of growth.

In value terms, China ($74M), New Zealand ($48M) and Japan ($41M) were the largest markets for lactose exported from the U.S. worldwide, together accounting for 41% of total exports. Mexico, Indonesia, South Korea, India, the Philippines, Viet Nam, Thailand, Singapore, Canada and Brazil lagged somewhat behind, together comprising a further 44%.

Source: IndexBox Platform

coffee
Archives, Global Trade Daily, Imports/Exports

Coffee Prices Jump to Seven-Year Highs Due to Brazilian Frosts

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IndexBox has just published a new report: ‘World – Coffee (Green) – Market Analysis, Forecast, Size, Trends and Insights’. Here is a summary of the report’s key findings.

Global prices for coffee have skyrocketed to a seven-year high, driven by fears of a significant reduction in production in Brazil due to freezes and the depletion of global stocks. Further growth in prices for the product will be stimulated by the reduction in production in other leading supplying countries such as Honduras and Indonesia, coupled with increased freight costs. A decrease in coffee production will lead to a fall in global exports by -4% y-o-y, which could lead to local imbalances in supply and demand and drive up consumer prices in key European and American markets.

Key Trends and Insights

Due to an expected reduction in coffee stocks following the fall of production in Brazil, prices on the global coffee market have skyrocketed in the middle of the current year. Futures in Arabica on the ICE exchange in July 2021 exceeded $2 per pound for the first time in seven years.

Abnormal freezes in the Brazilian states of São-Paolo, Paraná, and Minas Gerais in July this year damaged more than 200K hectares and will affect plantation yields. As a result, coffee production according to USDA estimates may decline by -30% y-o-y to 2.2M tonnes by the end of 2021. Labor shortages related to the pandemic, logistical difficulties and the rise of freight costs are further deterring supply and stimulating the price increases.

Brazil remains the leading supplier of green coffee with 29.3% of global exports. Following that is Vietnam (17.2%), Colombia (10.3%), Honduras (5.2%) and Indonesia (3.4%). Global coffee exports will fall by -4% y-o-y to 16.6M tonnes in 2021 owing primarily to the reduction in supplies from Brazil.

According to IndexBox estimates, based on USDA data, the production of Arabica coffee in Vietnam will rise by +15% y-o-y in the current year and the production of Robusta will contract by -2% y-o-y. In Colombia, coffee production will maintain its 2020 levels. Production in Honduras and Indonesia is expected to decline by -12% y-o-y and –2% y-o-y respectively. The expected drop in global coffee production by -6% y-o-y to 9.8M tonnes amidst an increase in demand by +1% y-o-y this year will lead to a reduction in world stocks and further increases in price.

The import of green coffee into the EU should fall by -5% y-o-y up to 2.9M tonnes due to the decrease in crop fields in the primary supplier countries of Brazil and Honduras. In the U.S. a less severe drop in imports is expected – by -1% y-o-y to 4.2M tonnes since a significant part of coffee beans comes from countries with stable crop yields during the current year, such as Vietnam and Colombia. A reduction in coffee stocks can lead to imbalances of supply and demand that will threaten the growth of consumer prices for the drink in retail and food services.

Global Coffee Production

In 2020, approx. 10M tonnes of coffee (green) were produced worldwide; surging by 1.8% compared with the previous year. The total output volume increased at an average annual rate of +1.3% over the period from 2012 to 2020. In value terms, green coffee production rose markedly to $27.7B in 2020 estimated in export prices.

The countries with the highest volumes of green coffee production in 2020 were Brazil (3.1M tonnes), Viet Nam (1.7M tonnes) and Colombia (897K tonnes), with a combined 55% share of global production. These countries were followed by Indonesia, Ethiopia, Honduras, Peru, India, Uganda, Guatemala, Lao People’s Democratic Republic, Nicaragua and Mexico, which together accounted for a further 33%.

Coffee Exports by Country

After two years of growth, overseas shipments of coffee (green) decreased by -6.5% to 6.8M tonnes in 2020. In value terms, green coffee exports fell to $17.3B (IndexBox estimates) in 2020.

In 2020, Brazil (2.4M tonnes) was the largest exporter of coffee (green), mixing up 35% of total exports. It was distantly followed by Viet Nam (1,208K tonnes), Colombia (599K tonnes) and Indonesia (376K tonnes), together committing a 32% share of total exports. The following exporters – Honduras (305K tonnes), Germany (210K tonnes), India (206K tonnes), Uganda (205K tonnes), Guatemala (190K tonnes), Ethiopia (175K tonnes), Peru (172K tonnes) and Nicaragua (128K tonnes) – together made up 23% of total exports.

In value terms, Brazil ($5B) remains the largest green coffee supplier worldwide, comprising 29% of global exports. The second position in the ranking was occupied by Colombia ($2.4B), with a 14% share of global exports. It was followed by Viet Nam, with a 11% share.

In 2020, the average green coffee export price amounted to $2,531 per tonne, increasing by 4% against the previous year. From 2012 to 2020, the most notable rate of growth in terms of prices was attained by Peru, while the other global leaders experienced a decline in the export price figures.

Source: IndexBox Platform

genset
Archives, Global Trade Daily, Utilities

Commercial Gensets Market: Top Regional Factors Augmenting the Industry Forecast 2027

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The global commercial gensets market size is poised to expand at substantial CAGR during the forecast period as the need for a reliable and infallible power supply has been towering amidst the COVID-19 pandemic situation. Apart from an alarming increase in the frequency of natural disasters, several parts of the world are facing unpredictable weather.

This has left hospitals, clinics, laboratories, offices, department and medical stores, and shopping complexes dealing with the persistent problem of power failure. As these commercial spaces have been seeking effective power backup solutions to mitigate losses, the market for hybrid generator sets, electric generator sets, and gas generator sets is likely to see considerable growth through the forthcoming years.

The following eight factors have been pushing the global commercial gensets market forecast:

Low up-front costs of diesel commercial generator sets

Thanks to the need to invest a lesser amount when compared with electric or hybrid generator sets, the deployment of diesel commercial generator sets has been rising across the commercial sphere in Asia. By 2027, APAC commercial gensets market share will have gained considerably owing to their weather-independent, flexible, and scalable operations. As diesel is an easily available fuel even in underdeveloped areas of the emerging economies, diesel commercial gensets appear to be an ideal solution for end-users who want to achieve higher productivity at lower costs.

330 kVA – 750 kVA rated generator sets across Asia

330 kVA – 750 kVA rated commercial generator segment is expected to see substantial growth through 2026, on account of the ability of these solutions to ensure a constant power supply during power failures and interruptions, preventing massive losses. Hospitals, hotels, telecom towers, educational institutes, and construction sites find these generator sets suitable due to their compact designs and superior power density.

Asia Pacific commercial gensets market might also benefit from the rising funding from private and local entities, who have been looking for robust machinery and equipment to address the need for an uninterrupted electricity supply.

Favorable government policies in India

With favorable government policies backing the fast-paced infrastructural activities in the region, the Indian market is likely to contribute consistently toward the overall Asia Pacific commercial gensets industry share through 2027. The booming telecom industry has been pushing the market. For instance, according to the Telecom Regulatory Authority of India (TRAI), the Indian subcontinent saw over 1,171.80 million telephone subscriptions as of October 2020. The development of several smart cities across the country is paving the way for further growth.

Work from home trend to accelerate demand

The North America commercial gensets market size is expected to grow steadily since several private as well as federal government employees have been working remotely owing to the focus toward curbing the spread of COVID-19 infection, constant power supply has become more crucial than ever. Heavy losses can be incurred due to power cuts. Moreover, as natural disasters including hurricanes have been hampering electricity supply more frequently, 50-125 kVA rated gensets are likely to see higher adoption across enterprises, cafeterias, shared workspaces, and home offices alike.

Reopening of commercial spaces in North America

As several regions are recording a lesser number of COVID-19 cases, the reopening of shopping malls, cinema halls, public libraries, offices, and showrooms is expected to trigger demand across North America’s commercial gensets industry forecast. The travel industry particularly has been recovering from the coronavirus fast this summer. As domestic flights resume, airports and hotels might see more product adoption. The vaccine rollout has revived numerous industries, who have been seeking to recover from financial losses by installing technologically advanced equipment.

Rising infrastructure investments toward healthcare in Europe

The COVID-19 pandemic has resulted in the fortification of the healthcare infrastructure, with the EU, governments, and private organizations focusing on optimum digitalization. As Europe has been facing a rising number of COVID-19 cases, the need for advanced solutions such as advanced monitoring and smart control systems across healthcare facilities has been spiraling. The surging geriatric population coupled with the adoption of IoT-enabled devices across hospitals and laboratories is fueling Europe commercial gensets market forecast.

Growing demand from European agriculture sector

As the agriculture sector is undergoing considerable transformation for the last few years, modern farmers are more inclined to install effective power backup solutions than ever before. Manual farming techniques are replaced with mechanized practices, which has increased the dependence on machines and ultimately, electricity. Thus, for the modern farmer, absence of uninterrupted electricity means lower productivity. Consequently, Europe commercial gensets industry forecast is set to gain from the thriving animal husbandry and agriculture sector in the region.

Benefits of gas-powered commercial gensets

With the European Union promoting the use of clean energy fuels in collaboration with several regional governments, the adoption of gas-powered commercial gensets is likely to soar through the next five years. These gensets are not only environmentally compliant due to their lower carbon footprint, but also cost-efficient. They have a high lifespan and a reliable performance. Simultaneously, Europe commercial gensets market outlook can benefit from the trend of installing ecofriendly, gaseous powered equipment across the industrial sector in the region.

Some of the leading commercial gensets manufactures and suppliers in the global market include Kirloskar Oil Engine, SDMO, Powermax, Mahindra Powerol, Powerica, Yamaha Corporation, Cummins, Mitsubishi Power, Kohler, Ingersoll Rand, Siemens, Caterpillar, Siemens, and Generac Holdings.

personal wipes
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Increasing Consumer Awareness Across North America to Influence the Usage of Personal Care Wipes

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Personal care wipes have garnered immense popularity amongst the average population owing to the ease of use and convenience. An increase in daily commute and hectic schedules has taken a toll on the personal hygiene of people which is why they are highly inclined towards using personal care wipes for keeping their skins healthy and fresh.

The antimicrobial nature of wet wipes has added more impetus to its adoption amidst the ongoing COVID-19 pandemic, where personal hygiene has garnered importance more than ever. These wipes are used for sanitizing restaurant tables, shopping trolleys, or playgrounds to prevent young children from exposing themselves to harmful germs and bacteria. Also, some wipes have high alcohol content which can prove effective against the SARS COV-2 virus. With the reopening of schools and other public places across the world, the consumption of personal care wipes will witness a significant escalation in usage over the foreseeable future.

Here is a lookout on how the global market for personal care wipes is transforming from 2021 to 2027:

Increasing usage of baby wipes

Baby wipes have been an essential part of families having babies. Enhanced absorbent fabrics of baby wipes help in cleaning the baby skin and reducing bacteria whilst avoiding rashes and skin irritation issues. It has been commonly observed that millennial parents are more aware of the skin conditioning of their babies than their previous generations. Such a rise in consumer awareness has prompted the consumption of baby wipes, leading to a prolific expansion of the business landscape.

The growing debate around flushable wipes

Flushable wipes, although convenient for usage, have not only created huge issues in sewage management but also disturbed the ecology of the planet. The issue is so grave that many governments have imposed bans on the usage of these wipes.  For instance, the UK government banned the sales of flushable wipes in 2018 in a mission to eliminate all plastic waste by 2042. These issues will pose serious challenges for the growth of the business.

However, this growing consensus regarding the environment has encouraged many industry players to come up with a variety of environment-friendly alternatives to flushable wipes. For instance, bamboo dry wipes are biodegradable and are considerably bigger in size than traditional wipes, which makes them easy to adopt for daily use without the concern of choking the sewage system. Such eco-friendly options will open up lucrative growth opportunities for the business.

One of the advantages of using personal care wipes is its ease of availability. Wet wipes are easily available in conventional retail stores. But the COVID-19 pandemic has prompted the average population to avoid visiting physical stores which has paved way for the e-commerce sector’s development and expansion. In addition, increased internet penetration across emerging economies along with the availability of a wide range of products on online portals will bolster the industry growth to a greater extent.

Regionally, the market for personal care wipes has witnessed a significant rise in North America. This growth can be attributed to the rising infant population, which has prompted an ostensible need for baby wipes in the region. Not only that, the average North American population is now becoming increasingly aware about hygiene maintenance and the convenience offered by wet wipes encourages them to adopt it comprehensively.

In short, growing consumer awareness regarding personal hygiene and ease of availability of wet wipes have complemented the growth of the personal care wipes industry.

surface coatings
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Production of Powder Urethane Surface Coatings to Rise at a Robust Pace in the Coming Years

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Urethane surface coatings are witnessing higher adoption across several industrial verticals considering their outstanding tensile and tear strength attributes. Due to their versatile properties and ability to retain durability in extreme temperature ranges, they are well-suited for construction, textile, and transportation applications. In addition, the coatings show resistance to water, oil, oxidation as well as abrasion. They are also utilized in plastics, dyes, as well as explosives and assist in protecting valuable equipment from harsh industrial environments.

The urethane surface coatings are incorporated to seal marine hulls from coastal elements, corrosion, and harsh weather. They can be applied to all categories of boats as well as ships and find utility in protecting gas and oil pipelines. However, the coatings bear a significantly higher cost and give rise to odor and smoke during the curing processes. Their chronic exposure can also lead to extreme toxicity and neurological disorders when absorbed by the human skin.

It has been suggested that the global urethane surface coatings market size will grow at a significant rate through 2027.

The preference for powder urethane surface coatings is likely to stir in the near future considering their excessive requirement across exterior functional applications. They help to counter chemical exposure as they possess optimum corrosion and chemical resistance, flexibility as well as hardness. Furthermore, these coatings are increasingly favored over epoxy powders as they impart superior exterior durability and overbake stability.

The demand for urethane surface coating technology across the automotive industry will reach substantial traction due to their increasing penetration in the manufacturing of various car parts. Bumpers adhered with urethane surface coatings are more resistant to impact in comparison to traditional steel components. The automotive ceilings and windows also make use of these materials to maintain intactness for proper functioning. Besides, the aerospace industry is witnessing a greater need for urethane surface coatings to protect aircraft and enhance their fuel efficiency.

The electrical and electronic applications are expected to record a higher consumption of urethane surface coatings in order to manufacture numerous significant components. They are widely employed in protective smartphone cases and various parts of printed circuit boards. The coatings are also making their place in microelectronics to offer protection from an optimum number of environmental hazards. They are utilized in refrigerator components like the rack of dishwashers to keep the appliance quiet. Furthermore, the underwater cables also make use of urethane surface coatings to refrain the internal wires from water damages.

Leading suppliers of urethane surface coatings and technology are constantly focused on strategies such as acquisitions, partnerships, and capacity expansions to enhance their production capacities and strengthen their customer base. These firms are also coming up with innovative launches to sustain the increasing competition in the current COVID-19 pandemic. For instance, in March 2021, PPG introduced Pitthane Ultra Ls, a high-performance urethane coating line for corrosive applications that need low sheen to reduce glare and hide surface imperfections.

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Global Fluorspar Market Peaked at $2.3B, Rising for the Third Year in a Row

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IndexBox has just published a new report: ‘World – Fluorspar – Market Analysis, Forecast, Size, Trends and Insights’. Here is a summary of the report’s key findings.

In 2019, the global fluorspar market increased by 8.9% to $2.3B, rising for the third consecutive year after four years of decline. Overall, consumption showed a relatively flat trend pattern. Global consumption peaked in 2019 and is expected to retain growth in the near future.

Consumption by Country

China (4.4M tonnes) constituted the country with the largest volume of fluorspar consumption, accounting for 58% of the total volume. Moreover, fluorspar consumption in China exceeded the figures recorded by the second-largest consumer, Mexico (521K tonnes), eightfold. The U.S. (334K tonnes) ranked third in terms of total consumption with a 4.4% share.

From 2012 to 2019, the average annual growth rate of volume in China stood at +1.7%. In the other countries, the average annual rates were as follows: Mexico (+7.7% per year) and the U.S. (-4.7% per year).

In value terms, China ($1.4B) led the market, alone. The second position in the ranking was occupied by Mexico ($113M). It was followed by the U.S.

The countries with the highest levels of fluorspar per capita consumption in 2019 were Mexico (3.92 kg per person), Italy (3.52 kg per person) and Canada (3.39 kg per person).

Market Forecast to 2030

Due to the industrial sector was hampered by lockdowns and tight financial conditions amid the pandemic, it is expected that in 2020, global consumption of fluorspar should decline somewhat against 2019. In the medium term, as the global economy recovers from the effects of the pandemic, the market is expected to grow gradually. Overall, market performance is forecast to pursue a slightly upward trend over the next decade, expanding with an anticipated CAGR of +0.6% for the period from 2019 to 2030, which is projected to bring the market volume to 8.1M tonnes by the end of 2030.

Production by Country

China (4.3M tonnes) remains the largest fluorspar producing country worldwide, accounting for 57% of total volume. Moreover, fluorspar production in China exceeded the figures recorded by the second-largest producer, Mexico (1.2M tonnes), threefold. The third position in this ranking was occupied by Mongolia (718K tonnes), with a 9.5% share (IndexBox estimates).

From 2012 to 2019, the average annual growth rate of volume in China was relatively modest. The remaining producing countries recorded the following average annual rates of production growth: Mexico (-0.1% per year) and Mongolia (+5.8% per year).

Imports

After two years of growth, global imports of fluorspar decreased by -9.9% to 2.4M tonnes in 2019. In general, imports experienced wild fluctuations. The most prominent rate of growth was recorded in 2018 with an increase of 24% year-to-year. As a result, imports attained the peak of 2.6M tonnes and then fell in the following year. In value terms, fluorspar imports contracted slightly to $628M (IndexBox estimates) in 2019.

Imports by Country

In 2019, China (520K tonnes), the U.S. (352K tonnes), Italy (263K tonnes), Russia (185K tonnes), India (136K tonnes), Japan (108K tonnes), the United Arab Emirates (74K tonnes), Tunisia (66K tonnes), South Korea (56K tonnes), Germany (52K tonnes), Canada (47K tonnes) and Turkey (46K tonnes) represented the key importer of fluorspar in the world, mixing up 81% of total import.

From 2012 to 2019, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by the United Arab Emirates, while imports for the other global leaders experienced more modest paces of growth.

In value terms, the U.S. ($102M), China ($96M), and Italy ($56M) constituted the countries with the highest levels of imports in 2019, together accounting for 40% of global imports. These countries were followed by Japan, India, Russia, Germany, the United Arab Emirates, South Korea, Canada, Tunisia, and Turkey, which together accounted for a further 36%.

Import Prices by Country

The average fluorspar import price stood at $266 per tonne in 2019, rising by 5.6% against the previous year. In general, the import price, however, showed a slight decline. The most prominent rate of growth was recorded in 2018 an increase of 15% y-o-y. Over the period under review, average import prices attained the maximum at $289 per tonne in 2012; however, from 2013 to 2019, import prices failed to regain momentum.

Prices varied noticeably by the country of destination; the country with the highest price was Germany ($451 per tonne), while Russia ($176 per tonne) was amongst the lowest.

From 2012 to 2019, the most notable rate of growth in terms of prices was attained by Canada, while the other global leaders experienced more modest paces of growth.

Source: IndexBox AI Platform

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The Sweet Potato Market in Latin America and the Caribbean Peaked at $3.4B

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IndexBox has just published a new report: ‘Latin America and the Caribbean – Sweet Potato – Market Analysis, Forecast, Size, Trends and Insights’. Here is a summary of the report’s key findings.

In 2019, the Latin American sweet potato market was finally on the rise to reach $3.4B for the first time since 2016, thus ending a two-year declining trend. The market value increased at an average annual rate of +3.2% over the period from 2013 to 2019; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. Over the period under review, the market attained the maximum level in 2019 and is likely to see further growth in years to come.

Consumption by Country

The countries with the highest volumes of sweet potato consumption in 2019 were Haiti (759K tonnes), Brazil (756K tonnes) and Cuba (564K tonnes), together accounting for 68% of total consumption. These countries were followed by Argentina, Peru, Uruguay and Mexico, which together accounted for a further 25%  (IndexBox estimates).

From 2013 to 2019, the most notable rate of growth in terms of sweet potato consumption, amongst the key consuming countries, was attained by Mexico, while sweet potato consumption for the other leaders experienced more modest paces of growth.

In value terms, Haiti ($1.4B) led the market, alone. The second position in the ranking was occupied by Cuba ($619M). It was followed by Brazil.

The countries with the highest levels of sweet potato per capita consumption in 2019 were Haiti (67 kg per person), Cuba (49 kg per person) and Uruguay (24 kg per person).

Production in Latin America and the Caribbean

For the seventh year in a row, Latin America and the Caribbean recorded growth in the production of sweet potato, which increased by 4.5% to 3.1M tonnes in 2019. The total output volume increased at an average annual rate of +4.0% from 2013 to 2019; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The generally positive trend in terms of output was largely conditioned by a perceptible increase of the harvested area and a relatively flat trend pattern in yield figures.

Production by Country

The countries with the highest volumes of sweet potato production in 2019 were Brazil (764K tonnes), Haiti (759K tonnes) and Cuba (564K tonnes), together comprising 67% of total production. These countries were followed by Argentina, Peru, Uruguay and Mexico, which together accounted for a further 25%.

From 2013 to 2019, the biggest increases were in Mexico, while sweet potato production for the other leaders experienced more modest paces of growth.

Sweet Potato Harvested Area and Yield

The sweet potato harvested area was estimated at 294K ha in 2019, growing by 1.6% on the year before. The harvested area increased at an average annual rate of +4.3% from 2013 to 2019; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years.

The average sweet potato yield amounted to 11 tonnes per ha in 2019, picking up by 2.8% compared with the previous year’s figure. Overall, the yield, however, showed a relatively flat trend pattern.

Imports in Latin America and the Caribbean

In 2019, approx. 13K tonnes of sweet potato were imported in Latin America and the Caribbean; which is down by -5.9% against 2018. Total imports indicated a buoyant increase from 2013 to 2019: its volume increased at an average annual rate of +9.6% over the last six-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2019 figures, imports increased by +73.4% against 2013 indices. In value terms, sweet potato imports amounted to $7M (IndexBox estimates) in 2019.

Imports by Country

Mexico was the major importer of sweet potato in Latin America and the Caribbean, with the volume of imports reaching 5.3K tonnes, which was near 42% of total imports in 2019. Argentina (2.3K tonnes) took the second position in the ranking, followed by Ecuador (1,479 tonnes), Uruguay (1,194 tonnes), Paraguay (602 tonnes) and Chile (583 tonnes). All these countries together held approx. 49% share of total imports. Trinidad and Tobago (393 tonnes) followed a long way behind the leaders.

Imports into Mexico increased at an average annual rate of +15.2% from 2013 to 2019. At the same time, Paraguay (+60.8%) displayed positive paces of growth. Moreover, Paraguay emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +60.8% from 2013-2019. Ecuador experienced a relatively flat trend pattern. By contrast, Chile (-4.9%), Uruguay (-5.6%), Argentina (-8.6%) and Trinidad and Tobago (-23.2%) illustrated a downward trend over the same period.

In value terms, Mexico ($3.3M) constitutes the largest market for imported sweet potato in Latin America and the Caribbean, comprising 48% of total imports. The second position in the ranking was occupied by Chile ($772K), with an 11% share of total imports. It was followed by Argentina, with an 8.5% share.

In Mexico, sweet potato imports expanded at an average annual rate of +24.5% over the period from 2013-2019. The remaining importing countries recorded the following average annual rates of imports growth: Chile (+20.8% per year) and Argentina (-11.0% per year).

Import Prices by Country

The sweet potato import price in Latin America and the Caribbean stood at $551 per tonne in 2019, surging by 12% against the previous year. Over the last six-year period, it increased at an average annual rate of +3.1%. The most prominent rate of growth was recorded in 2017 an increase of 14% against the previous year. The level of imports peaked in 2019 and is expected to retain growth in the immediate term.

Prices varied noticeably by the country of destination; the country with the highest price was Chile ($1,324 per tonne), while Ecuador ($165 per tonne) was amongst the lowest.

From 2013 to 2019, the most notable rate of growth in terms of prices was attained by Chile, while the other leaders experienced more modest paces of growth.

Source: IndexBox AI Platform

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Will Usage of Abaca Fiber Face Masks During COVID-19 Help to Reduce Wastes During the Pandemic?

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With the demand for face masks and other PPE equipment soaring high worldwide due to the dreaded COVID-19 pandemic spread, it is quite impossible to not ignore the burgeoning plastic wastes created by their disposal. According to estimates by Greenpeace Taiwan, the country produced and used about 1.3 billion surgical masks during the apex of the pandemic- from early February to mid-May. This number generates over 5,500 metric tons of general waste within a span of 3 months.

Such numbers signify that although face masks add to the general protection during the pandemic situation, they also contribute massively towards environmental degradation and landfill pollution, demanding a bio-degradable solution and substitute. This has gradually led to the emergence and usage of abaca fiber-based surgical and sustainable masks.

Recently, a Philippines-based firm- Salay Handmade Products Industries, Inc. had come forward to commercialize and supply masks made from raw abaca fibers, which boast of the property to decompose in just two months. Abaca fibers are generally rooted from banana leaf and are considered to be strong as polyester but high on the sustainability front. A proper validation on the use of abaca fibers for the production of face masks is offered by the country’s Department of Science and Technology. The researchers found that abaca mask is potent of absorbing nearly 3% to 5% of total water applied, while N95 and surgical masks absorbed 46% and 0.17% respectively.

Essentially, the abaca masks repel water far better than an N95 mask and is considered to be extremely safe for use. Although these abaca masks are eco-friendly, they are also quite highly-priced. That said, environmentalists concerned with the plastic crisis plaguing the entire planet will hopefully witness the benefit of investing in biodegradable masks providing an impetus to the global abaca fiber market.

Abaca fibers, also known as ‘Queen of natural fibers’ offer a huge potential to be used as a renewable bio-resource and are claimed to have a high content of lignin (about 9%) and cellulose (roughly 77%) that provide significant resistance to abrasion, traction, UV rays, and saltwater. These properties allow the fibers to be abundantly used for various industrial or extra-industrial applications across automotive, shipping, construction, pulp and paper, furniture, and textile industries.

Why are abaca fibers gaining massive momentum across the automotive industry?

It was in late 2004 that a major automotive giant, Chrysler-Damlier had explored the possibility of incorporating abaca or banana fiber in polypropylene thermoplastic as a substitute to glass fiber used in the exterior of most of the cars. In fact, it was reported that the company was able to demonstrate that PP composites reinforced with abaca fibers showed high structural as well as tensile strength similar to that of glass fiber. Additionally, abaca reinforced PP composites are relatively lighter compared to glass fiber, which could lead to enhanced fuel and energy saving for vehicles while also reducing their weight by up to 60%.

Elaborating further, the DOST Industrial Technology Development Institute sees abaca’s potential as a roofing material for various public utility vehicles. The polymer’s low heat conductivity could help prevent most of the sun’s heat from entering the automobile’s cab, which is especially helpful during the long summer months.

Speaking of the importance of abaca fibers in the automotive industry, the Philippines, which currently produces about 85% of the world’s abaca firmly states that the use of these fibers could potentially augment the country’s local automotive industry in the years to come.

Abaca fiber market trends across the Philippines

The Philippines has over the years remained a dominant region for the abaca fiber market as it stands to be the largest global producer of abaca fiber, ever since its introduction. Reports state that the region produces about 80% of these fibers in about 130 thousand hectares of land. The market is witnessing a massive boost owing to the mounting demand for toys, gifts, and houseware products. Not only this, rising customer inclination for lifestyle products is also stimulating the industry progression.

What has been fueling the industry growth in the Philippines is the introduction of several initiatives that look toward the promotion and production of high-quality abaca fiber in the region. The federal government is responsible for mandating and creating initiatives and measures which strengthen the hold of the country in the overall abaca fiber market while also creating additional growth opportunities for new market players to foray into the regional market.

Although the market has been expanding prolifically over the past few years, it is currently facing some challenges which might hinder its growth in the near future. A major disadvantage being the application of these fibers as reinforcement. Since abaca fibers cannot blend uniformly with polymer composites owing to their natural properties, this complicates the composite fabrication process in the textile industry, limiting its use in the overall textile business space.

Nevertheless, abaca fibers’ eco-friendly and bio-degradable properties have enabled the global abaca market to grow profusely over the span of 2020 to 2026.