With an increase in disposable income, the inclination to look beautiful, and also an increase in the amount of women population in the gulf, there is a need for increasing demand for color cosmetic products. As per the Census and Economic Information Center, the income of the U.A.E. people augmented to $299,569.0 million in 2020, from $257,386.2 million in 2010, and in Saudi Arabia, it went to about $658,493.5 million in 2017 from $617,848.7 million in 2016.
The growing need for organic color cosmetics, the rising volume of digital marketing networks and influencers, and the growing number of employed women are having an essential role in the flourishing of the color cosmetics industry in the GCC countries. In 2021, revenue of $1,277.2 million was created in the GCC color cosmetics market, which will likely touch $2,314.5 million by 2030, advancing at a compound annual growth rate of 6.8% during 2021–2030.
Women are the larger users of cosmetic products, and the GCC is also not an exception to this fact. Cosmetic products that are used by women contribute in excess of 80% of revenue in 2021. This is largely because of women's increasing disposable income, the increasing population of working women, growing GDP per capita, accessibility of improved products, budding awareness of ladies toward varied products, and snowballing advertising actions for active color cosmetics for females.
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The need for bio-based color cosmetic goods has been increasing at a high pace. Companies are continually exploring new ways to transport new functionalities and features, and giving out varied products for diverse skin types. The growing consumer consciousness pertaining to aid of organic products is too powering the requirement for these products. Conversely, numerous factors, like diet, smoking, stress, and anxiety have an effect on the health and appearance of skin. Furthermore, wrong products can cause allergic reactions.
The demand for color cosmetics in the GCC has a lot to do with the increasing disposable income of the people, the surge in the amount of working population and an inclination to look beautiful and charming.
COVID-19 led to a rise in the demand for alternative proteins because of the way the coronavirus disrupted the food chain worldwide. Because of the long duration of the outbreak, many people searching for healthy food items have started to find alternative sources of protein. Thus, the revenue generated by the plant-based protein market was $11,104.3 million in 2020, and it is predicted to grow at a CAGR of 9.2% and reach $26,721.3 million during the forecast period. This is credited to the increasing inclination toward plant-based food as compared to animal-based food.
Based on source, soybean had the largest share in the plant-based protein market in 2020, because it is a rich source of proteins and close to animal-based food in taste and texture. Apart from that, it is also rich in fiber and, thus, good for the digestive system. Hence, the demand for soybean to produce protein products is increasing, as they are being considered a fit alternative to meat. These proteins are used in a number of food products, such as dairy replacers, emulsion-type sausages, and nutritional bars, as well as being utilized as aquaculture, livestock feed, and pet food products.
North America is likely to hold the largest share in the plant-based protein market during the forecast period owing to the shift of consumers toward plant-based foods. This is propelled by people’s rising focus on health, food safety, immunity, sustainability, and animal welfare. Additionally, with the development of new technologies in the food and beverage sector, the usage of plant-based protein has been rising in the North American market because of the increase in the vegan population.
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The increasing spending and betterment in living standards are also key drivers for the growth of the market. As per the stats of the World Bank, people spent $64.130 trillion on all kinds of stuff in 2019 as opposed to $49.33 trillion in 2010. Accordingly, the rise in the spending and increasing awareness of vegan food have contributed to the changing inclination of people toward plant-based food. Plant-based proteins are generally more expensive than animal-derived variants since the former are extensively processed, which is why the rising disposable income is a key reason behind market growth
Hence, the market for plant-based protein is showing growth because of the surging awareness of people about vegan food and rising standard of living.
The rising urbanization rate, surging consumer expenditure, and depleting groundwater levels are expected to drive the European water pump market at a CAGR of 1.8% during 2020–2030. The market revenue is projected to grow from $707.2 million in 2020 to $848.3 million by 2030. The groundwater level of Europe is declining rapidly, due to the rising temperature, on account of global warming. The National Aeronautics and Space Administration (NASA) states that the 2019–2020 winter in the region was warmest hitherto, owing to which there was little snow and spring was drier and warmer than normal.
The water pump demand in Europe is primarily driven by the accelerating urbanization rate in the region. According to the World Bank, the urban population of the European Union (EU) nations surged from 334,222,735 in 2019 to 335,651,231 in 2020. As per the organization, nearly 0.427% of the EU population resided in urban areas in 2020. With the booming urban population, governments of EU countries are focusing on improving the existing utility water and drinking water infrastructure.
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According to P&S Intelligence, Germany accounted for the largest share in the European water pump market in 2020. This was due to the presence of stringent wastewater treatment laws, which need to be adhered to, even by the domestic treatment facilities in the country. Moreover, the increasing need to lower the energy consumption of pumps in water and wastewater treatment plants is expected to drive the demand for energy-efficient water pumps in the country.
Therefore, the accelerating urbanization rate and lowering groundwater levels will augment the demand for water pumps in Europe.
The global agricultural ventilation fans market revenue stood at nearly ~$600 million in 2020, and it is predicted to rise considerably between 2021 and 2030 (forecast period). The ballooning requirement for exotic vegetables, flowers, and fruits, increasing adoption of indoor farming techniques, and soaring use of urban agriculture methods, owing to changing climatic conditions and mushrooming population, are the major factors driving the demand for agricultural ventilation fans across the globe.
With surging population and rapid urbanization, the availability of fertile land is falling, which is propelling the requirement for agricultural methods, such as indoor farming, that don’t require large land areas. Moreover, urban agriculture massively increases food security, as it enables the production of large volumes of organic food items. As ventilation fans are used for providing a controlled environment, which is needed in indoor farming, the rising adoption of urban farming methods is positively impacting their sales across the world.
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In the coming years, the agricultural ventilation fans market will exhibit the fastest growth in the Asia-Pacific (APAC) region, as per the estimates of P&S Intelligence, a market research company based in India. This will be because of the surging need for dairy and food products in the regional countries, such as India and China, and the strong dependence of these countries on agriculture. Furthermore, the increasing adoption of urban farming practices, owing to the changing climatic conditions and mushrooming population, will also boost the demand for agricultural ventilation fans in the region in the coming years.
Hence, the market will register rapid expansion in the coming years, primarily because of the soaring requirement for higher crop productivity, on account of the increasing population, declining availability of arable land, and surging adoption of urban agriculture methods all over the world.
Well-cementing is one of the major operations that take place in the oil and gas sector. It prevents the movement of fluid from the groundwater reservoir to the borewell. Well-cementing offers a firm structure to the casing and restricts corrosion and blowouts. It also supports the efficient production of oil and gas and ensures minimal impact on the environment.
Well cementing is one of the most crucial operations performed in oil and gas drilling activities. It restricts the fluid movement from the groundwater reservoir to the borewell. It also provides a firm structure to the casing and prevents the casing from blowouts and corrosion. The process aids in the efficient production of oil and gas and ensures minimum environmental hazards.
The well cementing industry is projected to rise in the coming years. It is ascribed to the rising exploration and production activities in both conventional and unconventional oil and gas reserves worldwide. The rising demand for energy products, including gas oil, heating oil, gasoline, aviation turbine fuel, fuel oil, piped natural gas, liquified petroleum gas, and compressed natural gas.
The well cementing is performed to support the radial and vertical loads applied to the casing. It isolates the porous formations from zone formation production. It also excludes unwanted sub-surface fluids from producing intervals. Well-cementing resists the chemical deterioration of cement. It confines the abnormal pore pressure, and increases the chances of hitting the target.
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The rising investments in new projects are projected to boost industry growth in the coming years. The well cementing industry is divided into onshore and offshore applications. The onshore wells cementing services capture the substantial share of the industry. It is led by the worldwide massive presence of onshore reserves, with the availability of low operational cost drilling.
Additionally, the advanced exploration technologies are projected to provide deep drilling operations of existing onshore wells, and hence boost the onshore well cementing industry growth.
The expansion of the oil and gas sector propels the demand for the oil cementing industry.
The need for solar energy, on account of the soaring pollution and global warming levels and increasing carbon emissions throughout the world, due to the widespread use of fossil fuels for energy generation, is rising. Dye-sensitized solar cells, owing to their numerous features such as simple construction method and flexible characteristics, are widely used in the generation of solar energy. The other reason behind the surging demand for such devices across the world are the rising government initiatives and policies aimed at promoting the generation of solar power, to make its price reach parity with the power generated from non-renewable sources such as fossil fuels.
In addition to this, the increasing government measures in several countries, such as those aimed toward ensuring competitive bidding, are leading to a massive rise in the deployment of photovoltaics (PVs). Due to these factors, the global dye-sensitized solar cells market is predicted to reach a value of around $60.5 million by 2023, thus witnessing a huge rise from $28.4 million in 2017. The market is expected to progress at a CAGR of 13.2% during the forecast period (2018–2023). A dye-sensitized solar cell is a low-cost, thin-film PV cell consisting of electrodes (anode and cathode), a dye, and an electrolyte. Other than generating power, these solar cells also improve the aesthetics of buildings and installation surfaces.
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The fastest growth in the adoption of these cells is expected to be observed in the Asia-Pacific (APAC) region in the coming years. This is mainly attributed to the growing utilization of these cells in BIPVs, BAPVs, and portable charging systems, in various countries in APAC. Moreover, the rising number of government policies in India, China, Vietnam, and Thailand, aimed at promoting the generation of solar energy, is predicted to further boost the adoption of dye-sensitized solar cells in the region.
Hence, it can be concluded that on account of the massive rise in global pollution levels and the resultant increase in the production of solar energy, the demand for dye-sensitized PV cells will witness a huge surge in the coming years.