- Covid-19
- Data Bridge Market Research
- Coverage
- Solution
- Careers
The accomplishment of any pharmaceutical product is dependent on its patient-friendly drug delivery method which should also be safe, effective and economical for the users. The task for discovering and developing a new and innovative product is a critical process specifically for the unmet medical needs which can treat a disease in a more effect way and providing better safety and tolerance.
VP - RESEARCH AND CONSULTING
Companies are feeling the pressure to reformulate their products by replacing artificial ingredients with the clean label ingredients. But the crux of the clean label movement across the world is that the consumers are becoming more aware and are discriminating among products. “Clean label” trend will continue to grow, and the food and beverage industry will evolve with it.
SENIOR MANAGER – RESEARCH AND CONSULTING
With growing integration of technology such as IOT, AI, cloud computing with medical devices has led to rise in usage of wearable and light weight medical devices such as smart watches, wearable BP monitors. The increasing popularity of wearable medical devices for home care setting and advent of technology has made it easier for healthcare professionals to monitor patients from remote access. The increasing popularity has also attracted insurers for posing as benefits for the consumers. The trend is expected to grow with continuous innovation the will evolve as one of the major revenue generating industry
SENIOR RESEARCH ANALYST – MEDTECH
Migraine treatment market is expected to show lucrative growth over the forecast period owing to the development of novel drugs and increasing prevalence of migraine. In addition, rising awareness about treatment solutions of migraine is accelerating the demand for technologically advanced products. Hence, companies are focusing on development innovative devices such as handheld device single-pulse transcranial magnetic stimulator. Migraine treatment market will continue to grow during the forecast period due to the launch of new drugs & devices and hence evolving healthcare industry.
TEAM LEAD – PHARMA AND IVD
Composites offer many weight and structural advantages over traditional steel and injection moulded automotive parts, as it eventually helps to increase the fuel efficiency of vehicles. In fact, many Asian countries are expanding their composite production base, owing to composite materials are becoming substantially popular in their electronics sector, especially with companies supplying to the automotive sector.
ASSOCIATE MANAGER - SE & AUTOMOTIVES
Healthy snacking trend is on the rise as consumers increasingly seek nutritious, natural and sustainable snack food. As a result, the demand of seeds such as flax, chia, pumpkin and sunflower seeds usage as in ingredient has increased in various products like nutrition bars, breakfast cereals, flavored snack seeds. Consumers are opting for products which have natural colors & flavors, plant based protein or are “free-from” products such as gluten-free or lactose-free. Companies are emphasizing on premiumization through exotic flavors, seasoning and sensory taste by utilizing the natural ingredients to appeal to the international palates
SENIOR RESEARCH ANALYST – FOOD AND BEVERAGES
3D printing in construction offers a significant potential to enhance efficiency in the building sector. With the increasing adoption of building information modeling (BIM) that offers higher accuracy and speedy construction of intricate buildings, the 3D printing construction is set to become a mainstream technology for serial production. Automation will be the key focus for 3D printing construction and the industry is visibly headed for a bright future in smart manufacturing.
TEAM LEAD – CHEMICALS AND MATERIALS
Companies are realizing the importance of using AI technology within pre-possessing and processing sector of food and beverage industry. AI technology which brings the power of analytics helps the company to study the different demand of the consumers and create the curated product for every group of consumer. AI technology when combined with automation & robotics, block-chain, IoT, helps the company to optimized the process, Reduce human interaction, reduce food wastage, improve the quality & safety of the product and increase the packaging efficiency. Thus companies can meet the consumer demand and also increase the profitability by implementing the AI technology along the food supply chain.
ASSOCIATE MANAGER – FOOD AND BEVERAGES
Significant advancements in network infrastructure is instrumental in driving the demand for video conferencing solutions. The increasing demand for distance education programs is further contributing to the popularity of video conferencing tools such as Zoom and Microsoft Teams. With improved focus amongst organizations on employee safety and options to Work from home, the video conferencing solutions will experience greater demand over the forecast period.
ASSOCIATE MANAGER – INFORMATION AND COMMUNICATION TECHNOLOGY
There is definitely a huge challenge in designing miniaturized sensors as it creates heating issues; however, it is becoming one of the favorites among the manufacturing companies. The miniaturization of sensors has offered the manufacturer a huge opportunity to downsize almost any electronic system. These sensors are changing the dynamics of advanced applications such as industrial automation, autonomous vehicle, wearables, and application with compact areas. The rising demand for miniaturized sensor solution is expected to evolve the market in near future.
SENIOR RESEARCH ANALYST – INFORMATION AND COMMUNICATION TECHNOLOGY
Telemedicine, a promising technology set to transform future healthcare practices Telemedicine is emerging as a key tool for healthcare during COVID-19 pandemic that helped in decongesting healthcare facilities. Globally patients are preferring e-referral and e-prescriptions to reduce the risk of getting infected. The increasing adoption of telemedicine has resulted in the development of innovative technologies such as Tele-robots and Tele-ICU platforms. In future these platforms holds the promise to carry out real time remote patient diagnosis and monitoring, and can alert clinicians about worsening disease conditions.
SENIOR RESEARCH ANALYST – MEDTECH
Wearable technologies are reevaluating patient diagnostics, disease management, and preemptive care techniques. In 2021, there is an availability of an interconnected wearable app for almost everything in healthcare industry. And combination of these apps and wearable devices allow users to monitor and share their heath records in real-time and receive faster, more accurate diagnosis. These devices give a constant flow of data to healthcare professionals, who can use such metrics as blood pressure, breathing patterns, and sleep data to better diagnose and treat patients. Moreover, universal wearable technology means patients are enabled to take charge of their own health. User friendly, minimalistic, and unremarkable features encourage them to be more aware of their daily habits. Technological advancement of wearable technology and increasing demand from consumers to take control of their own health has influenced the medical industry, including insurers, providers, and technology companies, to develop more wearable devices such as Fitbits, smartwatches, and wearable monitors.
ASSOCIATE MANAGER - HEALTHCARE
Abrasives are hard materials, generally used in order to finish or shape a work place. The automotive industry is one of the major consumers of abrasives that utilize abrasives products in all stage of the manufacturing of automobiles. The demand for abrasives is expected to grow in various regions particularly in Asia-Pacific as a result of the positive outlook towards automotive sector in countries including Germany, China and India. The outbreak of pandemic covid-19 condition has impacted the entire pattern of consumption and value chains of abrasives market which affecting the short term investment plans of manufacturers as well as distributors. Furthermore, the industry growth is attributed to the rising spending on metal fabrication, machine maintenance and various mechanical operations. The wide range to abrasives types are commercialized in the market, among them coated based abrasive type, is widely used throughout the industry in order to surface cleaning, finishing, and preparation of a range of materials. Moreover, the rising demand for diamond powder and super abrasive grains in order to cut ultra-hard materials such as ceramics, stones, glass, super alloys and titanium is expected to expand the product’s scope in the near future.
SENIOR RESEARCH ANALYST – CHEMICALS AND MATERIALS
The packaging industry has been booming with beneficial profits in key economies including the U.S., Germany, China, and Japan even especially during the harsh pandemic covid-19 conditions. With the latest technology megatrends, the food packaging sector is witnessing the introduction of embedded NFC chips / printed QR codes and smart Labels that can be scanned using a smartphone to provide more information about the product. Such smart technologies have also helped in maintaining a healthy social distancing environment without affecting the population in huge numbers. The latest packaging types are also feasible in the measurement of several parameters such as pH, fermentation, temperature, flavours, and freshness in order to maintain a healthy standard. The packaging products ranging from chocolate wrappers to boxes are available in different forms and sizes . With the ongoing long schedules of lockdown in different countries smart packaging has also come up with a cosmetic appeal too. A brand’s vision and philosophy is determined by the consumers through the packaging used.
SENIOR RESEARCH ANALYST – MATERIALS AND PACKAGING
Recovery in construction industry on a global level post COVID-19 is expected to amplify the demand for coatings. Furthermore, the positive outlook towards automotive production in Asian countries including China and India as a result of supportive government policies aimed to boost production output could with the growing demand for 4-wheelers is expected to expand the market reach for coatings. Over the past few years, the industry participants have been incorporating various steps to achieve sustainability across their value chain. Having said this, the coating manufacturers have been utilizing eco-friendly raw materials and sustainable technologies in their in-house business operations.
ASSOCIATE MANAGER - CHEMICALS AND MATERIALS
Recent trend indicates exponential rise in consumption of vegan products as consumers are making significant lifestyle changes for reasons such as promoting animal welfare, improving health and wellness, and prioritizing environmental sustainability. Responding to this transitional shift in consumer behavior, several food & beverage manufacturers have made substantial investments in launching new vegan products in recent years. Further, the outbreak of COVID-19 pandemic has accentuated the growth of vegan products as prices of animal based meat products skyrocketed during the pandemic. As a result, the food & beverage industry will witness increasing number of players entering the “vegan” space as consumer demand is likely to accelerate over the coming years.
SENIOR RESEARCH ANALYST – FOOD AND BEVERAGES
A growing trend in digestive wellness is making way for probiotic-enhanced meals that promote better absorption of nutrients and bowl moments. These foods prevent the growth of harmful bacteria in the digestive tract and boost healthy bacteria. Probiotics have found their way into yogurt, fruit juices, cultured dairy drinks, dietary supplements, etc. Technological advancements in this field have made it possible to place them in dietary supplements and non-milk based products. Many companies have been able to penetrate the global juice market by integrating probiotics strains into their juices. This year, with the outbreak of the COVID-19 pandemic, taking probiotics has remained important to support people's immunity.
SENIOR RESEARCH ANALYST – FOOD AND BEVERAGES
COVID-19 Impact on Tissue Paper in the FMCG IndustryCOVID-19 pandemic has influenced the whole planet with its major impacts on the economy and businesses across the globe. The COVID-19 spread worldwide in unprecedented ways due to its high infectious and contagious nature and lack of availability of its vaccine. As a result, the greatest medical challenge in the 21st century is yet to be faced by physicians worldwide. Though the emergence of the virus can be traced back to Asia, many European countries along with the U.S. have been struck massively by the pandemic. The virus has spread across all regions ranging from North America, Europe, Asia-Pacific, Middle East, and Africa up to South America. The COVID-19 has been declared as a pandemic by World Health Organization (WHO) due to its increased spread across the globe. After the declaration of the pandemic, various countries announced the complete lockdown such as India, China, and other Asian countries to decrease its spread. According to the latest situation report by World Health Organization (WHO) stated 175 million cases of Corona have been reported globally and 5 million patients are dead due to the coronavirus. On a slightly positive note, a total of 160 million people have recovered and a total of 5 million vaccine doses have been administered as well.The global tissue paper industry has witnessed major developments over the past couple of years due to advancements made in the manufacturing of tissue papers. Tissue products are practical and hygienic, lowering the danger of communicable illnesses. Tissue products are a sustainable option since they are made from fiber derived from certified, sustainably managed forests or recycled paper.Tissue products are useful for hygiene and cleaning. Tissue papers when used for hand drying, paper towels assist to minimise the number of germs on hands and the transmission of bacteria. Using tissue products for personal hygiene can help prevent illness from spreading. Napkins, bath tissue, feminine care items are different types of products related to tissue papers.The recent outbreak of COVID-19 had a positive impact on the tissue paper market as there was an increased demand for tissue papers and toilet papers in several European, North American, and South American countries.IMPACT ON DEMAND The novel COVID-19 outbreak led to a considerable rise in the demand for tissue papers and toilet papers. In the initial days, people were severely threatened by the COVID-19 pandemic and were more inclined to hoard toilet paper in the early days of the epidemic.Data from Georgia-Pacific, maker of the Angel Soft and Quilted Northern brands, shows that the average American household, which consists of 3 people, uses about 409 rolls of toilet paper a year. In reality, there was never an actual scarcity of this product, especially because several nations, including the United States, are self-sufficient in it. The reason for the mass panic is unknown, although it is considered to have started in Australia following the country's first verified death from COVID-19, and in Hong Kong, it was sparked by internet rumors concerning the supply chain. When the supply of toilet paper caught up with the short rise in demand, the fear faded.Sales of toilet paper increased by up to 700 percent from February to March 2020 as the new coronavirus spread over the Western Hemisphere. In March 2020, the world was gripped by the Great Toilet Paper Shortage of 2020, as people rushed to stockpile toilet papers.For instance,In America, people were seemed to be stocking up substances for days. But the fear of the coronavirus set up after former president, Donald Trump declared a national emergency. Along with toilet paper, pasta, and meat, bottles of virgin olive oil also flew off the shelvesIMPACT ON PRICE The tissue paper and its supplementary product prices were impacted due to COVID-19 up to some extent. Factors responsible for it were a rapid rise in demand during the epidemic, individuals demanded more toilet paper. Consumer toilet paper and commercial toilet paper are the two markets in the hygiene paper business.With people staying at home because of business closings and shelter-in-place orders, the demand for consumer toilet paper was skyrocketed while the demand for commercial toilet paper was reduced.For instance,In March 2021, Kimberly-Clark Corp said that it would raise prices on many of its products including Scott toilet paper, tissues, and diapers in the United States and Canada to offset rising commodity costsThe company saw its products roll off supermarket shelves as shoppers stockpiled essential staples ahead of curfews and lockdowns to stem the spread of COVID-19.IMPACT ON SUPPLY CHAIN The government throughout nations imposed total lockdown which led to supply chain disruptions. Consequently, the supply chain came to standstill due to the closure of borders. Even though the demand for these products was high, the availability was affected due to disruptions in the supply chain, trade, and travel restrictions. Supply of raw material was also affected, due to which the production was restricted.Since the outbreak of the COVID-19 pandemic, tissue manufacturers in the United States have worked hard to meet demand by increasing production, improving operational efficiency, and collaborating with supply chains to get more goods to end-users. In 2020, American tissue producers set new production records and exported more tissue than ever before. The industry has continued to function safely and reliably, 52 weeks a year, to satisfy the demands of customers for vital productsFor instance,AF&PA (American Forest & Paper Association) members supplied more than 22,000 short tonnes of parent roll tissue each day in February and March, an all-time high for the industry. Tissue mills generated over 700,000 short tonnes of parent roll tissue in March alone, the most in any month since 2007. This equates to more than 4 pounds of tissue per person in the United States.STRATEGIC DECISIONS BY MANUFACTURERS AND RETAILERS OF NORTH AMERICA, EUROPE, AND THE SOUTH AMERICAN REGION Several manufacturers are following strategic patterns and procedures to gain an edge on decisions taken regarding production as well as sales. Some of such decisions include establishing a purchasing limit on tissue papers among others.For instance,To keep the shelves in their tissue sections supplied, retailers in North America and Europe had to limit the amount of tissue purchased by each client. This was surely great news for tissue mills, which were able to activate all of their reserve capacity to meet the unexpected demand spike. For the past few weeks, consumer tissue mills in North America and Europe have been operating at maximum capacityToilet paper sales in Germany, for example, were more than three times normal in (March 16-22), Mills reported full capacity utilization, extra conversion shifts were scheduled, and demand for additional parent roll orders risen exponentiallyBecause the COVID-19 epidemic hit North America a little later, the impacts on the tissue industry in February were mild. Everything changed in early March, though. Online vendors account for approximately 11% of U.S. tissue sales, have left tissue shelves vacant at retailers ranging from Walmart to smaller shopsIn the South American region, Many MSMEs in developing nations, STCP Engenharia de Projetos Ltda, which make up the majority of forestry firms and are especially sensitive to economic downturns, were severely affected. Other forest-based items, such as packaging materials, wooden pallets, and tissue for toilet paper and mask manufacturing, remained constant or even risen in demandCONCLUSIONPandemic has taken a toll on every aspect of life, including the global economy. With the significant downfalls in many sectors, a collaborative effort of government, industry players, and consumers can win the fight against COVID-19.It continues to inflict the world with appalling economic and social dilemmas, capable enough to leave severe backlash on the economy for the next several years. The first wave had already inflicted severe blows to the population as well as the economy. The currently experiencing the second wave is expected to be more disastrous not only to the masses but also to fast moving consumer goods markets.The recent outbreak of COVID-19 had a positive impact in global tissue paper market as there was an increased demand for tissue papers and toilet papers in the United States and several European countries. People staying at home because of business closings and shelter-in-place orders, the demand for consumer toilet paper was skyrocketed while the demand for commercial toilet paper was reduced.Moreover, the rising demand for tissue papers and their supplementary products is expected to increase the market growth up to some extent over the forecast period.
COVID-19 Impact on Predictive Maintenance in the Information and Communication Technology IndustryThe pandemic began with its epicenter in China in 2019 and has been continuously spreading by then to all over the globe. So far, 216 countries and territories have been affected by COVID-19. The COVID-19 cases reached various countries that have strong dominance in the worldwide market and have adversely affected economic growth globally. The spread of coronavirus has led to severe disruption such as global recession. Many organizations are being forced to take stringent actions for their employees and staffs, as small and medium businesses are being shut down, and manufacturing and production facilities are being put on hold for a longer period of time. However, the demand for food and beverages witnessed huge growth, but this has also, increased the shortage of supply chain owing to the panic among people.Similarly, the demand for the pharmaceuticals, chemicals, and healthcare industry also increased as new solutions and medicines are introduced for preventive measures. There has been disruption in the supply chain of many industries due to restrictions in logistics and closing of manufacturing facilities. In addition, the slowdowns in the economy have lowered the spending capability of individuals, and people are saving money for emergencies. Predictive maintenance refers to the data-driven, pro-active maintenance methods to analyze the condition of equipment and help predict when maintenance should be performed. The COVID-19 pandemic has had an impact on the technological sector as well. The disruptions in the production and supply in the hardware sector have significantly impacted the developments in the IT industry. The pandemic has resulted in health threats for humans in the manufacturing sector which incurs severe disruptions and complex issues to industrial networks. The initial part of the pandemic witnessed the slowdown in the businesses providing solutions and services. But the latter part saw increasing investments in analytics, collaborative applications, security solutions, and AI by many players in the market to sketch out a sustainable way of carrying on business activities amidst the pandemic threat.The pandemic has disrupted the industrial networks and manufacturing, including supply disruptions and demand-side shocks. Quarantines and health risks impacted the suppliers and global transportation, which affected the manufacturing sector.For instance,For the year 2020, manufacturing, and production was affected in 938 of the Fortune 1000 companies in China due to the disruptions faced by the tier 1 and tier 2 suppliers. This has affected the abilities of many companies to ramp up production.This created the need in the market to enhance manufacturing processes to make them robust and sustainable to the market anomalies. These factors increased the demand for analytics professionals, business intelligence professionals, and applications of technologies such as AI and ML for predictive maintenance to make the manufacturing system agile and increase the production capacity.IMPACT ON DEMAND AND SUPPLY CHAIN AND LONG-TERM STRATEGIES ADOPTED BY MANUFACTURERSDigital transformation has been the area of focus for a long time now for businesses. The COVID-19 pandemic has led many manufacturers and organizations to intensively invest in technologies across multiple business lines to sustain themselves in the disruptive market. For instance, a 2020 Deloitte Industry 4.0 survey states that out of the 361 executives surveyed across 11 countries, 94% report digital transformation as their organization’s top strategic initiative. With the easing regulations and life coming back to normalcy, the manufacturing sector is witnessing growing demand to ramp up production around the globe. Businesses are looking to maximizing throughout and increasing efficiency. Industries are increasingly adopting analytics to make manufacturing more resilient. Preventive maintenance is one of the important processes helping businesses to optimize efficiency. To meet the growing demands and to make up for losses, the industries are looking to produce in 9 months what they earlier did in 12 months. This has made it important to reduce downtimes in manufacturing plants, and the adoption of predictive maintenance is believed to play an important role in the direction.For instance, according to an ITIF research report, manufacturing productivity increases by 10-25% with IoT applications for monitoring machine utilization and maintenance. The increasing adoption of this technology will produce up to USD 1.8 Trillion global economic value by 2025.Industrial automation had been the focus of many manufacturers around the globe. The incorporation of IoT and technologies such as AI, Big data, and ML has been at the forefront for business owners and organizations to transform their business digitally. Manufacturers are gaining a strategic edge in the market in uncertain pandemic times, and are increasingly adopting predictive maintenance technologies to reduce the company’s maintenance costs, reduce unplanned outages, and extend machinery life by years.For instance, according to a 2020 survey by Deloitte, factory equipment maintenance costs can be reduced by 40% using IIoT based predictive maintenance technologies. This will help generate an economic value of USD 630 billion annually by 2025. 55% of the businesses surveyed have already implemented pilot predictive maintenance projects. The pandemic has forced employees to work from remote sites complying with social distancing norms. The manufacturers are intensively implementing IoT devices and digital transformation for providing the employees the ability to share and receive data and insights of the manufacturing floor in real-time to handle operations and monitor machine conditions. This has enabled agile decision-making, efficient operations, and avoiding unnecessary human presence on the site. The manufacturers are continuously developing new products, partnerships, collaborations for the predictive maintenance market.The initial stages of the pandemic saw a disturbance in the global supply chain. Limited manufacturing capacity and congested transport routes disturbed the supply ecosystem and impacted the costs of the end products. The disturbance has also been due to the restrictions imposed on logistics by various governments which affect raw material supply. The trade war between the U.S. and China has put a strain on the supply chain of electronics in the market, which is an important raw material for the home automation product manufacturers.For instance,In 2020, according to a survey by IPC, a trade organization dedicated to advocacy, education, and support for the electronics industry, around 69% of survey respondents had received warnings from their suppliers about shipment delays. The average delay between February to March 2020 was about three weeks.PRICE IMPACTThe COVID-19 lockdown imposed by the government of the world had impacted the prices of predictive maintenance services. The increase in supply chain costs automatically increased the hardware cost around the world, in the beginning of the pandemic due to congested shipment routes and other factors. The lack of workforce and restriction on travel impacted the service sector and hence impacted the prices. The increased demand for the predictive maintenance in multiple sectors of the industry will impact the prices of the service.CONCLUSIONThe COVID-19 has not only attacked the health of human lives but has adversely affected the economy globally. There is a recession worldwide, and various industries have been affected due to it. Many manufacturing industries are being temporarily closed, and workers are being advised to work from home. Organizations and enterprises had to make a difficult decision in regards to staff, which are often unavoidable if businesses need to reduce costs quickly. Machine maintenance became harder in the manufacturing sector due to lack of staff in the pandemic, travel restrictions, and the shift to working from home as a standard procedure, making it difficult to have routine inspections and on-site maintenance. This forced the organizations to move towards technologies such as predictive maintenance and develop a more resilient manufacturing unit. The focus was diverted majorly towards remote maintenance, manufacturing cost efficiency, and preventing unplanned downtime. This boosted the adoption of preventive maintenance practices in industries.For instance, according to the UpKeep 2021 report, maintenance and reliability teams have remained financially stable during the COVID-19 period. Of all the maintenance teams surveyed, 66% say their budget is either staying the same or increasing in 2021.
COVID-19 Impact on Hand Tools in the Semiconductors and Electronics IndustryCOVID-19 made a major impact on the hand tools market as almost every country has opted for the shutdown for every production facility except the ones dealing in producing the essential goods. To prevent the spread of coronavirus disease, the government has taken some strict actions such as the shutdown of production and sale of non-essential goods, blocked international trade, and many more. The only business which is dealing in this pandemic situation is the essential services that are allowed to open and run the processes. The companies such as pharmaceuticals and chemicals, among others, are allowed to continue operation but with certain safety rules.A hand tool is any tool that is not a power tool – that is, one powered by hand (manual labour) rather than by electricity or fuel. Some examples of hand tools are garden forks, secateurs, rakes, hammers, spanners, pliers, screwdrivers, chisels, and others. Hand tools are generally less dangerous than power tools. The global hand tools market size is estimated to be USD 8.4 billion in 2021 and is projected to reach USD 10.3 billion by 2026, growing at a CAGR of 4.0%. The growth of the market is attributed to the increasing commercial as well as residential construction and infrastructure projects, adoption of hand tools in households for residential/DIY purposes as well as growing manufacturing setups and increasing repair and maintenance operations across the world. However, factors such as an increase in safety risks and concerns due to improper use of hand tools are restraining the market growth. The shutdown of production facilities during the pandemic situation has had a significant impact on the market.The future of the hand tools market looks promising, with opportunities in increasing commercial as well as residential construction and infrastructure projects. The global hand tools market is expected to decline in 2020 due to the global economic recession caused by COVID-19. However, the market will witness recovery in the year 2021. The major drivers for this market are the increasing commercial as well as residential construction and infrastructure products.Emerging trends, which have a direct impact on the dynamics of the hand tools industry, include the introduction of more efficient power tools and the increase in hand tool automation to reduce physical work that might boost hand tool usage.IMPACT ON PRICEAlthough the COVID-19 pandemic continues to transform the growth and prices of various industry-related products, the price of the products with respect to the hand tools market maintain a steady line throughout the pandemic. This denotes that there are no major changes in the price of the hand tools due to the effect of the pandemic.IMPACT ON SUPPLY CHAINSupply chains are complex systems where the risks and costs associated with mismanagement and communication failures in globally connected organizational networks are relatively high.For instance,In May 2019, Stanley Black & Decker announced the opening of a new plant for the production of its brand CRAFTSMAN in Fort Worth, Texas. The new facility has an area of 425,000-square-foot and is expected to employ approximately 500 full-time employeesSome of the most influential factors that affect the supply chain in regards to the hand tools manufacturing companies are companies seeking strategies to protect their position in the value chain, looking for new markets, finding new possibilities to leverage skills and offering more value to customers.AFTERMATH OF COVID-19 AND GOVERNMENT INITIATIVE TO BOOST THE MARKETGovernment efforts to encourage the adoption of hand tools in household alternatives have developed at a rapid pace in recent years. Governments in the European Union, China, Japan, Canada, India, and South Korea are among the major geographies where governments are taking aggressive measures to increase the adoption of hand tools in residential/DIY purposes as well as growing manufacturing setups and increasing repair and maintenance operations.For instance,There have been some major policy developments in the European Union. Improvements in hand tool requirements and the digitalization of hand tool based industries, which focuses on government procurement of increased usage of hand tool based systems which form a greater initiativeAnother guideline, the 'Performance Buildings Directive,' has been established, which establishes minimum requirements for hand tool infrastructure installation in buildingsSuch favourable initiatives are anticipated to boost the adoption of hand tools in commercial and residential based projects and thus drive the adoption of the repair and maintenance operations market during the forecast period of 2021 to 2028.STRATEGIC DECISIONS OF MANUFACTURERS AFTER COVID-19 TO GAIN COMPETITIVE MARKET SHARERevenue growth for the hand tools market has experienced a decline in 2020 due to constricted economic activity expected as a result of the COVID-19 outbreak. So, the hand tools manufacturing companies have adopted various strategies to overcome the decline in revenue. Some of the most common strategies adopted by industries are as follows,The reduction of experimentation costs due to the speeding up of the testing phaseThe reduction of the number of costly physical prototypes and redesign linked to their fast obsolescenceThe improvement of design quality via the availability of information very early on in the development processCONCLUSIONPandemic has taken a toll on every aspect of life, including the global economy. With the significant downfalls in many sectors, a collaborative effort of government, industry players, and consumers could win the fight against COVID-19. Also, COVID-19 has likely influenced the development of the hand tools market because of the closing down of processing plants, impediment in-store network, and decline in the world economy.With COVID-19 affecting countries at different times and rates, access to global demand through open markets, the pandemic situation created by COVID-19 has a major impact on the hand tools market as it has lowered its demand owing to the shutdown of most of the manufacturers all across the globe. Along with industrial disruptions, the commercial, construction, and infrastructure projects across the world were either cancelled or put on hold owing to the lockdown impositions. On the other hand, as the homeowners spent most of their time at homes during the pandemic, there was a noticeable shift in focus towards home improvements, interiors and home decoration activities at the residential/DIY level, which in turn called for a slight demand for hand tools. Thus, the hand tools and woodworking tools market is getting affected by COVID-19. This has resulted in a lower estimated year-on-year growth rate as compared with 2019. On the other hand, improvisation of technologies has led to gain strong industrial growth. However, the growth has been high after the market has opened after COVID-19, and it is expected that there would be considerable growth in the sector owing to high technology and interfaces that are expected to drive the overall demand of the market.
COVID-19 Impact on Grain-Oriented Electrical Steel in Chemicals and Materials IndustryGrain oriented electrical steel is a category of electrical steel which comprises iron-silicon alloys that are developed to provide the low core loss and high permeability, which are required for efficient and economical electrical transformers in power generation applicationCOVID-19 has adversely affected the demand of the global grain oriented electrical steel market, particularly, power and energy sector. Pandemic has also affected the import and export of the steel products across all the regions, which has resulted in the decline in the demand of the grain oriented electrical steel. The demand of the grain oriented electrical steel has declined approximately by 12%-14% in the COVID-19 period. The COVID-19 has unbiasedly affected all sectors due to which the mandate of the several products in the global as well as in the domestic market has fallen down.The prevailing grain oriented electrical steel demand conditions in the majority of developing nations demonstrates that the electrical steel consumption have deteriorated in the pandemic situation. Several large industries who are engaged in the manufacturing of grain oriented electrical steel product have faced several challenges towards the sale of the raw material for the finished goods due to shutdowns in the manufacturing of the several industries such as in automotive and electronic goods. This has led to the lower demand of the electrical steel in the global marketAFTER MATH OF COVID-19 AND GOVERNMENT INITIATIVE TO BOOST THE GLOBAL GRAIN ORIENTED ELECTRICAL STEEL MARKET The demand of the home appliances have fallen during the COVID-19 by approximately by 45% due to which the demand of the electrical steel products in the electrical manufacturing industry has decreased. The large industry has resulted in less demand of the new machinery and components due to which demand of the electrical steel in manufacturing of motors and electrical ballasts have reduced during the pandemic situation. Post COVID, developing economies, such as China is expected to move more rapidly towards normalization of economic activity for the different sectors. This will increase the demand of the electrical steel products, and will increase the import for grain oriented electrical steel. With the stringent government regulation, particularly, in the field of infrastructure, the demand of the grain oriented electrical steel products such as hot-rolled sheets and cold rolled sheets would subsequently increase. Automobile manufacturers are heavily investing funds in the market. With the increase in the demand for the modern electric vehicles, the demand for the grain oriented electrical steel is set to rise in the global market.STRATEGIC DECISIONS FOR MANUFACTURERS AFTER COVID-19 TO GAIN COMPETITIVE MARKET SHAREPre-pandemic, manufactures had financial stability; however, COVID-19 had forced the manufactures into extreme slumps. The effects of the pandemic will largely affect the small and medium business. The grain oriented electrical steel is extensively used in the manufacturing of the electric motors and components which are brought to application in the electric appliances.During the COVID-19, manufacturing of the heavy electrical equipment have tumbled down which result in the fall in the demand for the electricals steels in motors application. Several types of components are used in the transformers which have different flux density which help to lower the wastage of the energy during transmission but the demand of the different size of transformers have fallen down due to which demand of the grain oriented electrical steel from equipment manufacturers have fallen down. During the pandemic, several electrical equipment manufacturers have shut down the production for more than six months which has had a bad impact on the demand of electrical steel market.PRICE IMPACTSteel industry is also playing a crucial role in the electrical steel market since tons of steel and other metals are used in the manufacturing of the grain oriented electrical steel. The pandemic has also impacted the demand of the steel products in all the regions. In the U.S., steel mills have to adjust their production activities to avoid rising inventories and declining prices of the steel products which result in lower revenue generation. As demand of the steel is declining, integrated steelmaker in U.S. steel manufacture has decided to idle blast furnaces and cut production of steel. Japan steel production is expected to decline by 25.9% as per the Vietnam Steel Association (VSA), companies associated with the VSA registered a 15% decline in steel production and a 38% reduction in steel exports in Q1 2020. COVID-19 has adversely affected the steel prices as the demand of the steel has fallen down as lockdown in several industries.IMPACT ON DEMANDDuring the COVID-19, manufacturing of the heavy electrical equipment have tumbled down, which resulted in the declined demand for the grain oriented electricals steel. Several types of components are used in the transformers which have different flux density that help to lower the wastage of the energy during transmission. However, the demand of the different size of transformers has collapsed. During the pandemic, several electrical equipment manufacturers have shut down the production for indefinite time period, which have adverse impact on the demand of grain oriented electrical steel marketIMPACT ON SUPPLY CHAINPower and energy industry is heavily relying on Supply Chain Management (SCM). Improvement in the supply chain has always been demanded by the manufacturers and the end users. The COVID-19, which led to the abrupt halt of the transportation sector, indirectly affected the supply chain for the grain oriented electrical steel market. Manufacturers had to bear the storage cost as well as had to face the consequences for the late conveyances. The delivery of raw goods was adjourned or annulled, which resulted in the rise of the cost to the end users. The Import-export of the final product was also severely wedged, hindering the completion of major projects, resulting in increased costs.CONCLUSIONThe COVID-19 crisis has created the pandemic situation widely, which affected the growth of the overall steel industry. The demand in the energy and power, building and construction, automotive activities have withered down globally. The nationwide lockdown across the globe for all the manufacturing units, construction activities and others, resulted in lower demand of grain oriented electrical steel products, which eventually, lead to huge loss for manufactures. The manufacturer of grain oriented electrical steel components and equipment had to abruptly halt the production which had its impact on the supply-chain.Flux in the demand of the electricity in different countries have lowered and has proportionally affected the demand of the grain oriented electrical steel products in the energy and power sector. The fluctuation in the price of steel has also impacted the manufacturing of the grain oriented electrical steel. Progressive demand of electricity and power in the man industry and launch electrical vehicles will increase the demand of grain oriented electrical steel in coming years.
COVID-19 Impact on Dissolving Pulp and Paper in the Chemicals and Materials Industry COVID-19 (Coronavirus) has affected the day-to-day life of people and has slowed down the economies worldwide. The pandemic has affected millions of people who either got sick or died due to the spread of this disease. Within a few months, coronavirus disease (COVID-19), which originated from China, became a pandemic, with more than 30 million people being infected to date.There are now numerous vaccines in use. The first mass vaccination program commenced in early December 2020, and as of 15 February 2021, 175.3 million vaccine doses have been administered. The COVID-19 pandemic has affected the global dissolving pulp & paper market significantly. The persistence of COVID-19 for a longer period has affected the supply and demand chain as it got disrupted, and it became difficult to supply the raw material for dissolving pulp and paper across different countries. During the COVID-19 pandemic, the dissolving pulp and paper market is expecting a decline globally due to movement restriction, de-globalization, loss of income, restriction on import and export of products, restriction in the supply of raw materials, among others. All these factors have impacted the market growth negatively. The COVID-19 has led to the lockdown all around the world, which has impacted the dissolving pulp and paper market tremendously as it leads to lack of availability of raw material, labour shortage, shipping problems, highly inflated prices, and others. The demand for dissolving pulp has increased all around the world, owing to rapid changes in lifestyle. The increasing demand for packaged food and fresh food are the main factors impacting the growth of paper packaging, which ultimately increases the demand for dissolving pulp and paper markets.IMPACT ON PRICEThe dissolving pulp and paper product is costly as the machines and technology used to manufacture high-quality products are on the higher side, which makes the end product more expensive. Also, the research for the raw material used is tedious and time-consuming. Furthermore, the maintenance of machines, technology used to make dissolving pulp and paper products add up to additional prices. The fluctuating prices of raw material for dissolving pulp and paper is the main factor restricting the growth of the market.Moreover, after a pandemic, the demand for dissolving pulp and paper products has suddenly increased in various industries, and with rising demand, the prices for dissolving pulp and paper have increased.IMPACT ON DEMAND AND SUPPLY CHAINThe demand and supply for dissolving pulp and paper had initially decreased during the beginning of the COVID-19 pandemic as it resulted in lockdown, due to which, initially, a lot of paper-based products were not used as it was not a necessity. Also, due to restriction on movement, there was a halt on the manufacturing process of end-user industries like the food industry, textile industry, pharmaceutical industry and other. But after the lockdown was lifted, the demand for dissolving pulp and paper products has increased as all the work of the end-user industry has resumed, and demand for dissolving pulp and paper has increased in food, pharmaceutical, personal care, and other industry. The rising demand is enabling manufacturers to launch new products in the market even during the COVID-19 pandemic.For instance,In April 2020, Sappi launched Ultracast Viva, a textured release paper line made for high-fidelity PVC, PU, semi-PU, and solvent-free casting systems. This new product launch helps in maintaining sustainable practices and environmental-friendly manufacturing and helped the company in enhancing its product portfolioIn April 2020, Gulf Paper Manufacturing Company expanded its business by boosting the manufacturing capacity of packaging grades and manufactures tissue in Kuwait. This expansion helped the company in offering more products to their customers to achieve a leading position in the Kuwait marketIn October 2020, UPM launched UPM SolideTM in the specialty papers category. It's food-safe kraft papers that are recyclable in regular paper recycling streams and used for packaging. This new product launch aimed to produce recyclable products to enhance their product portfolio and to contribute to the sustainable environmentThe increasing number of launches by the manufacturers to fulfil the demand of end-user industries even during the time of pandemic would boost the market growth even after COVID-19. However, the high prices of the product are one of the major restraining factors for the global dissolving pulp & paper market.AFTERMATH OF COVID-19 After the outbreak of COVID-19 ends, the demand for dissolving pulp and paper would be increasing as there won't be any more restrictions on movement, and the procurement of raw material would be easy, and the manufacturers could easily provide dissolving pulp and paper to the end-users. The presence of a relatively young population all around the world is increasing the demand for dissolving pulp and paper as with growing urbanization, the consumption pattern has changed, and they are more attracted towards packaged and processed food products or ready-to-go meals, which has directly increased the demand for tissue papers or paper packaging products. Additionally, growing concern related to the environment is another factor that would propel the market in the future. Dissolving pulp and paper are sustainable renewable products that help in contributing towards sustainability. Also, to promote sustainability, young consumers are opting for clothes that are made from dissolving pulp and paper to save the environment. Thus, the growing concern related to the environment and the growing need for dissolving pulp in different industries such as textile, food, and others would propel the growth of the market.CONCLUSIONCOVID-19 pandemic has affected almost all industries, including the dissolving pulp and paper market globally. Also, the COVID-19 outbreak has affected the economy on a global level. The COVID-19 pandemic has led to the lockdown all around the world, which has impacted the demand as well as supply of dissolving pulp and paper products across countries. After the lift of the lockdown, the demand will suddenly increase owing to increase demand for pulp and paper products in different industries such as food, cosmetics, personal care, pharmaceuticals, textile, and others. Moreover, with the growing urbanization, the young population is also opting for on-the-go food, which has suddenly increased the demand for tissue papers which will boost the growth for dissolving pulp and paper in the market. Moreover, the rising concern related to the environment is another factor boosting the growth of the global dissolving pulp and paper market. However, with rising demand, the prices of dissolving pulp and paper products are increasing, which may hamper the growth of the market as it makes it hard to afford high-priced products in developing countries or by middle-class consumers. Therefore, with the rising demand for dissolving pulp and paper in various industries, the market would grow after COVID-19 pandemic is over.
