henryjones2504

[henryjones2504]

Implementing robotic arms is a huge capital investment. However, the process of automation streamlines the workflow for the future. With the implementation of robotic human errors can be omitted, which otherwise could lead to additional spillage or material wastage. Also, one of the primary reasons for implementing industrial robotics is to tide over the shortage of unskilled labor. While industrial robotics, from an investment perspective, is of CAPEX nature and essentially a one-time cost, the wage for unskilled labor is operational cost incurring month-over-month and sometimes incremental in nature. Therefore, post the implementation of industrial robotics, it is easier to predict their cost of operations and hence strategize pricing to boost their margins.

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The global industrial robotics market was estimated at USD 68 billion in 2020 and it is anticipated to grow at a CAGR of 14% – 15% from 2020 to 2027. APAC is expected to demonstrate the highest growth rate geographically. China is also the largest market for industrial robotics globally, followed by two other Asian countries; South Korea and Japan. Other major markets for industrial robotics are the US and Germany.

From an end-user industry perspective, the automotive sector is one of the most promising sectors for industrial robotics. Currently, several OEMs are using robotic arms in painting, welding, assembly, material removal, part transfer, and machine tending. In fact, in a fully automated setup, the majority of the functions are performed by an industrial robot. Apart from the automotive sector, industrial robotics are widely used in sectors like semiconductor and IT product manufacturing where precision is of key importance.

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Industrial robotics is a robot that is used in manufacturing. Often, they are colloquially called robotic arms. Industrial robots are programmed and automated to do very specific tasks. Usually, they are capable of movement of three or more axes. The most common functions that the industrial robots perform are assembly and handling, cutting and welding, packaging and palletizing, painting, and dispensing. Rising automation trends and industry 4.0 standards are resulting in the requirement of such robotic arms.

[henryjones2504]

Integrating software and technology to perform diagnostic checks on different elements of the building would help in preemptive checks and maintenance. Often, preemptive maintenances are cheaper than reactive repair work. So a capital investment in the form of technology would help reduce lifetime costs for maintenance work. The integration of software into the MEP industry is expected to increase during the period of forecast with several governments initiates across the globe planning to implement or have already started implementing the ideas of smart city projects.

The growing urbanization in APAC nations is leading to a demand for several types of services, MEP and facilities management being two of them. With this, global players are encroaching into these new developing markets thereby standardizing market rates and providing services that the customers can use to benchmark capabilities of different suppliers before opting for one. These processes of standardization are leading to market correction in prices.

[henryjones2504]

The mechanical electrical and plumbing services market in the US was valued at USD 32.8 billion in 2020 and it is expected to grow at a CAGR of 14.2% by 2027. It also holds the highest market share among other geographies. The demand for mechanical electrical and plumbing services in the US will be driven by new construction as well as retrofit and renovation demand.

The MEP industry is moderately fragmented with the presence of several multinational as well as small-sized, local suppliers. As such, the competition during the pre-COVID era was already high. The COVID pandemic resulted in several constructions to temporarily stop. This had negatively impacted the Mechanical Electrical and Plumbing Services Industry. However, with the effects of the pandemic seizing and businesses resuming, the construction market is expected to bloom which would help drive the requirement for MEP services.

[henryjones2504]

Mechanical electrical and plumbing services in the planning, design, and maintenance of different elements of a building which can be classified under one or more of the headers; mechanical, electrical, and plumbing services. Commonly known as MEP, these services are essential not only during the construction of a building but also during its lifetime. The major services offered under the MEP service provider are maintenance of the HVAC system, installation, and maintenance of electrical lines and power circulation, maintenance of pipes and the plumbing system to ensure proper cleaning and water sanitation.

The MEP industry has evolved over the years. Back in the early 2000s, MEP was considered a specialized service offering. However, with the progress in facilities management, the facility management service providers have incorporated elements of mechanical, electrical, or plumbing services so that they can provide a comprehensive package with the added value of MEP services. Additionally, there is the incorporation of software services that help perform diagnostics of the functionalities that MEP services are concerned with.

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The majority of the big players in the market are based out of APAC. It is also the fastest-growing market, owing to the supportive policies of China's government and the development of China as the global EV battery manufacturing hub. However, the majority of the EV battery produced in China are sold to domestic electric vehicle manufacturing companies.

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Raw materials cost about 75% of the overall cost of manufacturing. In terms of a liquid concentrate of the cleaner, water accounted for the highest percentage in terms of weight, covering around 40-50% of the solution, followed by surfactants covering 10%. In 2018, surfactant prices declined despite higher crude oil prices, but are expected to become stable over the forecast period.

[henryjones2504]

The IT recovery market has witnessed a significant uptake over the last few years. Remote working tendencies, high attrition rates and gradually reducing the shelf life of IT products are helping the market grow. In addition to this, laws related to the disposal of electronic devices and data maintenance are prompting companies to initiate partnerships with IT asset recovery services and help with data and component management.

The COVID pandemic has fast-tracked the uptake of IT asset recovery services. Remote working conditions and managed mobility services have increased. There have also been instances of downsizing or attrition. All these factors have led to higher adoption of IT asset recovery.

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Once IT equipment reaches the end of its usage for a particular user (not necessarily the end of their lifecycle), the equipment is recovered and re-invested back to the present system. This recovery and re-investment process helps the companies save costs that would have otherwise been spent on procuring surplus equipment. IT asset recovery services, therefore consist of two parts. The first part is where assets are recovered which is also known as asset disposition and the second part is where the asset is used back into the system. Most of the IT asset recovery service providers conduct the first course of action, i.e. act as IT asset disposition service providers. Once the equipment is put back into the system, the client uses it at their convenience.

[henryjones2504]

The global medical coveralls market was estimated at ~USD 1.7 billion in 2020 and it is expected to grow at a CAGR of ~6% from 2020 to 2027. The demand for medical coveralls has surged significantly since the outbreak of Covid-19. It is extensively used during the pandemic to shield healthcare employees, such as nurses, doctors, and other medical personnel. Hospitals are the largest end-user segment in the global medical coveralls with more than 60% share followed by primary care facilities and clinics. Europe is the largest buyer of medical coveralls. It accounted for more than 35% share in the global medical coveralls market.

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Medical coveralls protect healthcare professionals from any kind of contamination. The demand for medical coveralls is on the rise since the beginning of the Covid-19 pandemic. Different regions have different quality classifications for medical coveralls. For instance, in the U.S., the coveralls have four levels. Whereas, in Europe, it has six levels. Following are the U.S. and European standards medical coveralls quality and its definitions:

U.S. Level A/ European Type 1 - Protection against gas/gas tight

U.S. Level B/European Type 2 and Type 3 - Non-gas tight and protection against liquid.

U.S. Level C/European Type 4 and Type 5 - Protection against liquid spray and airborne particles.

U.S. Level D/European Type 6 - Protection against liquid chemical splash.

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Woven & non-woven fabric and seam are the major raw materials used for medical coveralls production. The cost of raw material accounted for more than 40% of the overall cost of production. The raw materials should be certified with ISO 16604, EN 14126, ISO 22611, and ISO 22612 certifications. Both mask and body coverall share similar raw material. However, the manufacturing process is different. Mask manufacturing can be fully automated and can have a high output rate. A fully automated mask-making machine can give ~250,000 pieces of mask in 24 hours, while body coverall making, in comparison, is labor-oriented and has a lower rate of production. Hence, the cost of labor plays a crucial role in medical coveralls production.

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Polyurethane is formed by the reaction of a polyol (an alcohol with more than two reactive hydroxyl groups per molecule) with a diisocyanate or a polymeric isocyanate in the presence of suitable catalysts and additives. Polyurethane can be categorized into two major types; polyester, and polyether. These are both elastomers. Both are abrasive resistant, while polyester has a sliding quality and polyether is abrasion-resistant. Polyester and polyether polyurethanes can be used in the following ways:

Flexible polyurethane foam: It is used as a cushioning or protective material in furniture, mattresses, and bedding, and vehicle interiors.

Rigid polyurethane foam: These foams are used in commercial and residential insulation as it keeps buildings cool in the summer and warm in the winter.

Binders: This type of polyurethane is used to bind different materials and is commonly used in wood panels, flooring materials, and sand casting.

Coatings, adhesives, sealants, and elastomers (CASE): This collection of polyurethanes are used to increase the durability and lifespan of various products by covering or sealing them.

Reaction injection molding: This polyurethane molding is used for items like car bumpers and computer enclosures.

Thermoplastic: It is commonly used in construction and automotive applications.

Waterborne polyurethane dispersions: This type of polyurethane is used as coatings or adhesives, but with a water-based solvent.

The rising demand of polyurethane foam from construction and automotive industries have increased the procurement need for polyurethane.

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The global polyurethane market is valued at USD 70 billion in 2020 and it is expected to grow at a CAGR of 3.8% from 2020 to 2025 due to high demand from multiple industries such as construction, automotive, electronics, packaging, and footwear. Construction application is leading the polyurethane end-user segment with more than 25% market share. APAC is the largest producer of polyurethane with ~45% share followed by North America and Europe. The global production based on polyurethane is shifting towards emerging countries in the APAC region.

[henryjones2504]

The global polyurethane market is valued at USD 70 billion in 2020 and it is expected to grow at a CAGR of 3.8% from 2020 to 2025 due to high demand from multiple industries such as construction, automotive, electronics, packaging, and footwear. Construction application is leading the polyurethane end-user segment with more than 25% market share. APAC is the largest producer of polyurethane with ~45% share followed by North America and Europe. The global production based on polyurethane is shifting towards emerging countries in the APAC region.

[henryjones2504]

Polyurethane is formed by the reaction of a polyol (an alcohol with more than two reactive hydroxyl groups per molecule) with a diisocyanate or a polymeric isocyanate in the presence of suitable catalysts and additives. Polyurethane can be categorized into two major types; polyester, and polyether. These are both elastomers. Both are abrasive resistant, while polyester has a sliding quality and polyether is abrasion-resistant.