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The Economic Challenges Created By Covid-19

  • 4 days ago | Chemical and Materials

    COVID-19 Impact on Synthetic Rubber in Chemical and Materials IndustryINTRODUCTIONRubber products are commonly used in day-to-day life activity. Synthetic rubber is the type of an artificial elastomer. The first synthetic rubber was created by Neoprene which is known as Polychloroprene in 1930 by a DuPont chemist. Synthetic rubber has the property of resistant to gas and oil due to which synthetic rubber is widely used in industrial machinery and automotive industries. In the 1930s, scientists from Germany created another form of synthetic rubber using co-polymers. During World War II, Japanese access to natural rubber was cut off in the South Pacific which increases the need for an alternative product and so natural rubber became necessary in the country due to the lack of access to natural rubber raw material or products, synthetic rubber was being used in various manufacturing and industrial sector. With the increasing popularity of synthetic rubber products, its application increases and has become the norm for most of the industries.Synthetic rubber is made from the polymers synthesized which are the by-products of petroleum. Synthetic rubber has several properties as the products are solid, flexible and durable for longer duration. Synthetic rubber can easily be shaped into any form when heated and become strong when cools down. As synthetic rubber products are made from several elastomers mixtures which help to increase the strength of the synthetic rubber and make products resistant to heat, light and from different chemicals. Synthetic rubber when added to the other products during manufacturing makes the product heat as an electrical insulator.Synthetic rubber is different from the natural rubber as natural rubber is a polymer that is derived from tree sap. The sap is exposed to natural air and temperatures which make natural rubber harden in nature. The nature rubber is heated with the sulfur and no other chemicals are added to the natural rubber products. Synthetic rubber is manufactured under factories under different processes which include the use of different catalysts to create the polymer. Different chemicals and compounds are used to make up different forms of synthetic rubber which are used for several applications in industries.Synthetic rubber is manufactured from the raw material which is derived from petroleum, coal, oil, natural gas, and acetylene and many of them are the co-polymers. Naphtha is produced during the refining process of the synthetic rubber. The naphtha product is extracted which can be mixed with natural gas to create more monomers such as styrene and isoprene which are essential for synthetic rubber manufacturing. Synthetic rubber products are of different types and have the different chemical properties and used in several applications. Styrene-butadiene rubber and butadiene rubber (both of which are buna rubbers) are commonly used in tire production which are used in the automotive industry. Synthetic rubber are used in several applications which are tires, clutches, engine bearings, conveyor belts, industrial goods, seals for drinking water and another type of acrylonitrile butadiene rubber (NBR) is used in industry for the heavy duty applications as the product is resistant to fuel and oil, has good temperature properties and is resistant to abrasion.The different types of the synthetic rubber are:Acrylic Rubber (ACM)Butadiene Rubber (BR)Butyl Rubber (IIR)Chlorosulfonated Polyethylene (CSM)/ HypalonEthylene Propylene Diene Monomer (EPDM)Fluoroelastomers (FKM)/ VitonIsoprene Rubber (IR)Nitrile Rubber (NBR)Perfluoroelastomer (FFKM)Polychloroprene (CR)/ NeoprenePolysulfide Rubber (PSR)Silicone Rubber (SiR)Styrene Butadiene Rubber (SBR)IMPACT ANALYSIS OF COVID-19 ON SYNTHETIC RUBBER MARKETThe COVID-19 have created the pandemic situation in all over the word due to which the economy of all the regions have been affected on the larger extent and will recover in very steady pace. No sector such as manufacturing and automotive is immune from the effect of the COVID-19, all the manufacturers in the regions have faced the ups and down in the business due to the COVID-19 situation and unable to forecast the demand of the products. The government and the higher authorities have taken strict actions for lowering the spread of the COVID-19 which has resulted in the lockdown in the countries and halt in the production of the finished goods. The pandemic have hit the economy very hard worldwide as the lockdown was imposed in all the regions which have made the situation challenging for all sectors for growth and also the developing activities would be done in the different stages.Manufacturers have faced several problems in the production of the synthetic rubber due to the disturbance in the supply chain of the raw material due to the COVID-19. The demand of the synthetic rubber in industries got declined by 15%-17% approximately due to lower demand by the tyres manufacturers in the global market. The activity of the stock lifting from tyres factories and transporting the inventory to auto manufacturers globally came to a standstill after the government of different countries announced a lockdown due to the COVID-19. The demand of the synthetic rubber has fallen in the industries due to the lower production of the finished goods which resulted in the fall in the price of the synthetic rubber in the global market. The export and import of the synthetic rubber in different countries have fallen down due to the pandemic situation created by COVID-19.Synthetic rubber products are more used in the tires productions which are used in the automotive industry. The tires are used in all kinds of the vehicles from light weight to heavy duty vehicles but due to the spread of the COVID-19 in the countries, the transportation have declined due to which the demand for synthetic rubber in tyres industry have fallen down. The demand of the tyres have fallen down in the automotive by 37%-40% approximately due to which the demand of the synthetic rubber has fallen down. The tyres manufacturers also producing at 20%-25% of their total capacity due to lower demand by the global automotive market during the period of the COVID-19 which has resulted in the lower demand of the synthetic rubber.Large as well as small industries have faced the problem for the production of the synthetic rubber products as skilled labor is required for the production of finished products from synthetic rubber. All the labor have moved to different places which have created a challenge for the manufacturers during the COVID-19 situation which has also affected the demand of the synthetic rubber globally. Synthetic rubber are also used in several industries such as foot wear but due to the lock down, the demand of the synthetic rubber was also fallen by 28%-30% in the foot wear industry. The increasing demand of the automotive spare parts and production in the automotive industries will increase the demand for the synthetic rubber globally and also the increasing demand of the footwear globally will help to boost synthetic rubber market after the COVID-19 period.IMPACT ON END-USERS OF SYNTHTIC RUBBER PRODUCTSIMPACT ON AUTOMOTIVE INDUSTRYThe automotive industry has been hit sharply by the COVID-19. The production of the automobiles has been on halt since the demand of the spare parts of the automobile have declined. The most important thing in the automobiles is the tyres of the cars or the two-wheelers but due to the lockdown the production of the automobiles have declined due to which the demand of the tyres by the manufacturers have also declined and thus the manufacturers have to face losses which resulted in the decline of the growth of the synthetic rubber in the global market. Automobile industries are running at losses due to the COVID-19 outbreak and delaying the production of the new models and also in launching of the new models.For instance,The delay in the launch of BMW X1 facelift electronic car was planned in March in IndiaETAuto got delayed or postponed due to the coronavirus crisis and the lockdown uncertaintiesMercedes-Benz EQC 400 electric SUV delayed its launch due to the spread of coronavirusGeneral Motors is delaying the upcoming reveal of the new all-electric Hummer truck because of the COVID-19 pandemicThe delay in the launch of Volkswagen T-Roc electronic car was planned in March in IndiaEuropean automotive sector have faced unexpected crises as BMW and Volkswagen concentrated on their new products instead and Euro Temporary closures of plants and industries has been accounted by European Automobile Manufacturers’ Association (ACEA) due to collapsing demand of automobile in the region, supply shortages due to supply chain disruptions with other regions. Society of Indian Automobile Manufacturers (SIAM) also declares that the auto industry will result in estimated loss of USD 23,000 million loss per day due to lockdown. FIGURE 1    LIGHT VEHICLE SALES, FEB 2019 VS. FEB 2020 (IN THOUSAND UNITS)From the above chart, we can infer that the demand of the light vehicles have declined in several countries as in China, the sales of the light vehicle was 1300 thousand units in February 2019 which gets declined to 100 thousand units in February 2020. In Japan, the sales of the light vehicle was 350 thousand units in February 2019 which declined to 300 thousand units in February 2020. In South Korea, the sales of the light vehicle was 620 thousand units in February 2019 which was declined to 120 thousand units in February 2020. As the sales is declining resulted in the lower production in the automotive industry which leads in the decline in the demand of the tyres and the demand of the synthetic rubber fall in the global market. IMPACT ON FOOTWEAR INDUSTRYSynthetic rubber are more used in the footwear industry as it is easy to fold and cut due to the property of flexibility which increases its demand in the foot wear industry. The cascading effect of the spread of the coronavirus can also be seen on the footwear industry. Footwear industry also have to face the pandemic situation created by the COVID-19. The production in the footwear industry has been on halt due to the lock down and shortage of the labor in the factory. The demand of the footwear on all distribution channels have declined globally due to which manufacturers have to face the challenge of the stock clearance. Synthetic rubber is used in the manufacturing of the sole of the footwear. The decline in the demand of the footwear has resulted in decline in synthetic rubber during the COVID-19.Several manufacturers have to face the loss of revenue due to the lower demand of the footwear during the COVID-19 which is near to 38%-45% due to which the production of the footwear have been slow in the COVID-19 period which decline the demand of the synthetic rubber. The exports of the footwear have declined near to 37% during the COVID-19 period which lowers the revenue generation for the footwear manufacturers.IMPACT ON PRICE OF THE SYNTHETIC RUBBER PRICE  FIGURE 2    PRICE OF SYNTHETIC RUBBER (JANUARY 2020 – JULY 2020) (USD)From the above diagram, we can infer that the price of the synthetic rubber is falling on constant rate as due to the fall in the demand by the automotive, tyre and footwear industry. The price of the synthetic rubber in January 2020 was USD 150.80 which fall to USD 132.00 in the month of April 2020, when the lockdown have increased, the production activity have fallen down due to which the demand of the synthetic rubber have fallen down. In the month of May 2020, the price was USD 120.10 which have again fallen to USD 114.10 in the month of July 2020.CONCLUSIONThe COVID-19 crisis has created the pandemic situation widely which has affected the growth of the synthetic rubber market as the demand in the tyres, automotive and footwear industry have fallen down in all over the world. As the government imposed lockdown rules for all the manufacturing due to which manufacturers were not able to produce the synthetic rubber for the specific application as the raw material for the product is not available easily due to the disturbance in the supply chain which lead to the huge loss to manufacturers and will show a steady growth in coming years. The price of the synthetic rubber have fallen down due the lower demand in the market as the import and export of the finished goods and raw material have become difficult in the COVID-19 situation.Lock down for more than 3 months in the countries have resulted into the declining of the demand of the synthetic rubber in the tyres and automotive industry during the COVID-19. With unlocking of the regions and countries, the demand of the automotive, tyres and the footwear industry will increase which will help to boost the demand for the synthetic rubber globally.

  • 4 days ago | Healthcare

    COVID-19 Impact on Respiratory Devices in Healthcare IndustryThe coronavirus pandemic has made an unbelievable effect on global economy system and as well as on daily lives of human beings. The impact on the healthcare sector has been adversely affected too and a huge burden is developed on already pinched healthcare sectors across the globe. Continuous research on coronavirus shows that the COVID-19 pandemic has elevated the psychological distress in both general population and among high risk population.In July 2020, it became obvious that the novel strain of coronavirus or COVID-19 has major impact on the healthcare system in the United States. The Surgeon General, American College of Surgeons and Centers for Medicare and Medicaid Services have stated the issue of delaying or cancelling of non-essential medical and surgical services to decrease the exposure risk of the virus and conserve resources for expected number of infected population.Moreover, during the pandemic phase, the people suffering from respiratory diseases are at higher risk since coronavirus majorly affects or damage the respiratory system and decreases the oxygen demand of the body. Due to this, the respiratory devices industry gained importance and growing with the fastest growth rate. As the number of COVID-19 patients’ increases, the demand of respiratory devices also increased.For instance, According to the Global Data Estimation, approximately 880,000 ventilators are required globally to fight with this pandemic and provide proper treatment facilities to the patients. The respiratory devices market turns out to be life saving for those who need mechanical support to the breathing cycle. Hence, the global respiratory devices market demand is positively impacted by the COVID-19 pandemic.The impact of COVID-19 on respiratory devices market has been described by some pointers such as impact on supply chain, impact on price, impact on demand, impact on healthcare economy, strategic initiatives taken by pharmaceutical industries and government and their conclusion.TABLE 1: TOTAL ESTIMATED PREVALENCE OF DIFFERENT RESPIRATORY DISEASES S. No.Respiratory DiseasePrevalence (in Million)Total Death (Each Year)1.Chronic Obstructive Pulmonary Disease (COPD)65 million3 million2.Asthma334 million489,000 million3.Acute Lower Respiratory Tract Infections4 million4.Tuberculosis (TB)10.4 million1.4 million5.Lung Cancer14.1 million1.6 millionIMPACT ON DEMAND The COVID-19 global pandemic has highlighted the complex interdependencies which exist within the global healthcare sector. The coronavirus disease (COVID-19) pandemic outbreak has created huge demand for respiratory devices such as ventilators, anaesthetic machines and others in the healthcare sector across the world. As day-by-day, the pandemic increases, the demand of the respiratory support devices also increases.For instance,According to the Lancet Regional health USA, the demand of the ventilators was significantly increased or boost up at the peak time of pandemicAccording to studies published by STAT, between 5% to 11% in the U.S. hospitalizations have required intensive care and ventilators to survive with the help of artificial and mechanical breathing support. To support this, GE Healthcare and Ford made collaboration for manufacturing of ventilators for COVID-19 patients. They have announced to work together to scale up the manufacturing due to high demand of ventilators for treating the patients with COVID-19, the respiratory illness caused by the new coronavirusIMPACT ON SUPPLY CHAINThe coronavirus pandemic positivity impacted the respiratory devices market due to the increased demand of ventilators and anesthesia delivery devices as the coronavirus directly affects the respiratory system, which causes breathing problem and damage the lungs, which also boost the respiratory devices market. Even in normal days or situation where governments are attempting universal access to ventilators, the supply of these systems has constant opportunities due to usage factors. The sudden outbreak of COVID-19 and its sub-sequent high demand of ventilators to save the lives of human beings ramps up the supply chain of ventilators to meet the necessary demand across the world.Moreover, several ventilators manufacturing companies are retooling for priority manufacturing to produce other essential medical supplies and equipment such as ventilators. Due to the government support, there are no trade restrictions on domestic manufacturing of essential ventilators. During the pandemic, as the demand increases, other regions are seeking help from each other for ventilators manufacturing which further supports the growth of export and import trade of ventilators market.For instance,To support the local business, in-house business and to meet the continuous demand of respiratory devices during the pandemic, “SpiceJet launches Portable Ventilator named as “SpiceJetOxy” for COVID-19 patients with moderate breathing issues”.Moreover, according to The Economics Times, the Indian Centers decides to allow export of indigenous fatality rate as the fatality rate falls to 2.15 PC with the help of ventilators support in life savings. The Directorate General of Foreign Trade made an statement that all the ventilators including any artificial respiratory apparatus or oxygen therapy apparatus or any other breathing appliances/devices are made ‘free’ for export.Meanwhilein Canada, the Chief Public Health Officer warns of possible surge of COVID-19 due to this, the Canada health ministry ordered more than 40,000 ventilators for an estimated USD 1.10 billion for hospitals, but due to the huge supply demand for ventilators and other respiratory devices, only 606 ventilators were reached in the hospitals hand.IMPACT ON PRICEAs the pandemic increases, the demand and supply for the respiratory devices also increases. The National Government and State Government also support in-house manufacturing of devices to overcome the pandemic. Despite the current crisis, healthcare issue in the country continues to reel under the positive impact of COVID-19. There has been a significant rise in both in-patient and out-patient footfall for some hospital chains as the single specialty, multi-specialty, private hospitals, tertiary-care hospitals or even diagnostics businesses during this lockdown. With the rising demand of ventilators in the market and the preference of saving human beings life around the world, every region is trying to provide the best facilities of ventilators in the market. The manufacturing of low cost ventilators is significantly rising in the market.For instance,An Indian-American couple has developed a low-cost portable emergency ventilator which is soon to hit the production stage and will be available in India and the developing world at an affordable rate to help doctors deal with the COVID-19 patients. The researchers also told that if you can do a manufacturing of scale, it can be produced (item cost) in less than USD 100. Even with a price point of USD 500, they (the manufacturer) would have enough money to make sure that they are making enough profit in the market. The researcher also stated that this type of ventilator have an average cost of USD 10,000 in the United States. But, this is not intended for the ICU or clinical use.According to The Economics Times, the Indian Engineers builds low cost ventilators that will be likely to export to worst affected country such as the U.S. as well that can save many lives from the deadly coronavirus in America. According to the MIT engineers, in the U.S. alone, the COVID-19 pandemic may cause ventilator shortages of 300,000-700,000 units. An increase in conventional ventilator production is very likely to fall short with significant associated costs.According to Financial Express, Indian’s cheapest emergency ventilator is ready to use. Kerala PSU made affordable prices which cost around Rs 15,000 and the model developed by NIT-Calicut would be priced in the range of Rs 7,500 to Rs 8,000.STRATEGIC DECISION BY MANUFACTURERS AND GOVERNMENTThe key players engaged in ventilators manufacturing are making appropriate changes to meet the demand of the services during coronavirus. The innovative companies of ventilators such as Air Liquide, GE Healthcare and many others ramp up their production rate to provide better health facilities to the patient suffering from breathing difficulties. The increase in demand for ventilators in worst affected regions will lead to higher deals for them amid pandemic. Additionally, the industry will also be unaffected by impending recession as the necessity of ventilators will be the priority of the healthcare departments.For instance, Ford Motor Co. partnered with General Electric Co to manufacture about 43,000 ventilators at a factory in sub-urban Detroit. The companies are expecting to reach 50,000 by the end of August to fulfil USD 336 million contracts with the Department of Health and Human Services.Air Liquide, Groupe PSA and Schneider Electric partnered with each other to manufacture medical system respirators or ventilators in response to the French government request. They are abiding to produce 10,000 ventilators in 50 days to save the lives affected by coronavirus.Getinge AB has received 510(k) clearance approval which is a pre-requisite for governmental tenders.” from the U.S. Food & Drug Administration for Servo air mechanical ventilator. The production of the mechanical ventilator will help in ongoing fight against the new coronavirus COVID-19.Moreover, Australia Drug Regulatory agency TGA (Therapeutic Goods Administration) also provides guidance to overcome the pandemic and support the healthcare professionals. The report includes information about advice for use of alternative devices for respiratory support, other unapproved devices (and accessories) intended for respiratory support and other devices intended for respiratory support.CONCLUSION It can be concluded that the COVID-19 pandemic situation is having a positive impact on the global respiratory devices market with the increasing price, supply and demand of the respiratory devices products. However, in the crisis call, pharmaceutical companies work closely with healthcare professionals, customers, patients and other healthcare organizations for the sake or betterment of public health.However, the companies as well as state government are trying to focus on how they can make the most effective and the best contribution to control the spread of the virus and save lives. They are also ramping up their production to new level and ensure that speed doesn’t affect or destroy the quality of products.

  • 4 days ago | Chemical and Materials

    COVID-19 Impact on the Lubricants in Chemical and Materials IndustryINTRODUCTIONLubricants are kind of substance which are usually manufactured with organic and inorganic substances. Lubricants are applied on the surface to reduce friction between surfaces in mutual contact, which resulted in ultimately reducing the heat generated between the surfaces and increases the life of the machinery. Lubricants have the viscosity properties which help in transporting foreign particles, function of transmitting forces or heating or cooling the surfaces. In lubrication, several lubricants are used which have different properties and helps to control the friction and wear the lubricants make a friction-reducing film between moving surfaces in contact of the surfaces. The lubricant can be in the form of fluid, solid or plastic substance.Several different substances are used to lubricate a surface of machinery or part of equipment. Oil and grease are the most common lubricants used in the industries for lubrication processes. Grease is a type of lubricant which is composed of oil and a thickening agent to obtain its consistency. Oils which is also a type of the lubricant is synthetic, vegetable or mineral-based as well as a combination of other products help to reduce the wear and tear of the equipment while working. Lubricants have the different properties and the viscosity indexes according to those lubricants are used in different applications. Lubricants are more used in the industries to reduce the heat generation among surfaces which has helped to lower the cost maintenance of the large machineries.The primary functions of lubricants are:Reducing friction among surfacesPrevent wear of equipmentProtect the equipment and machineries from corrosionControl temperature of the surfaceControl contaminationTransmit powerProvide a fluid sealLubricants are the type of additives which are applied on the machines or the equipment used in the industries for manufacturing of the finished goods. With the increasing automation in the large or the small scale industry, the demand for the lubricants will increase in all the regions. Different types of lubricants are mineral based, bio-based and synthetic based which are further divided in boundary, mixed and full film. Full-film lubrication are the type of the lubricant which can be broken down into two sub-types which are hydrodynamic and elastohydrodynamic. Hydrodynamic lubrication are used on two surfaces in sliding motion and elastohydrodynamic lubrication are applied the surfaces which are in a rolling motion. Lubricants have polished and smooth surfaces along with irregularities present on the surfaces. Boundary lubrication is applied where frequent starts and stops of the machineries is done, and where shock-loading conditions are present. Some oils have extreme-pressure (EP) or anti-wear (AW) additives to help protect surfaces and increase the life span of the machinery. Mixed lubrication is done between boundary and hydrodynamic lubrication. While the bulk of the surfaces are separated by a lubricating layer, the equipment still makes contact with each lubricant as additives again come into play.IMPACT OF COVID-19 ON LUBRICANTS INDUSTRYThe COVID-19 have created the pandemic situation in all over the word due to which the economy of all the regions have been affected on the larger extend and will recover in very steady pace. No sector is immune from the effect of the COVID-19, all the manufacturers in the regions have faced the ups and down in the business due to the COVID-19 situation. The government and the higher authorities have taken strict actions for lowering the spread of the COVID-19. The pandemic have hit the economy very hard world wide as the lockdown was imposed in all the regions which have made the situation challenging for all sectors for growth and also the developing actives will be done in the stage wise manner. COVID-19 has also affected the import and export of the lubricants products across all the regions due to which the demand of the lubricants have declined.Due to the lockdown in all countries because of growing spread of the COVID-19, a major slowdown in transportation and people movement has been observed. The demand for the basic goods is still on the rise, and thus all the other items are facing the fall in demand. Due to the rising COVID-19, carrying of goods from one location to another has been significantly curtailed as distribution chains have nearly stopped. Lubricants are used in several industries for the machinery and equipment maintenance. COVID-19 have halted the production of several goods due to the lock down due to which the demand of the lubricants in the industries have fallen down which resulted in the increase in the piles of the inventory of the lubricants with the manufacturers during the COVID-19. The COVID-19 have created the challenge for the lubricants manufacturers for the production of the lubricants as most of the raw materials are imported from other regions.Manufacturers are also facing the problem for the production of the lubricants of different grades and viscosity according to the demand in the lubricants market due to which manufacturers are not able to generate revenue during the COVID-19 outbreak. The demand of the lubricants in the large finished product industries have fallen down by 20% - 23% during the COVID-19 as the demand for the lubricants have fallen down. Several industries production was on halt and also many industries were running at 40% - 50% of their existent capacity due to declining demand of the finished products in the lubricants market.COVID-19 have created the several challenges for the lubricants manufacturers in operation and customer satisfaction of the products and also movement of stock is highly dependent on contract labourers who are currently unavailable due to government regulations in the COVID-19 due to which the demand of all kinds of the lubricants such as synthetic, bio-based and minerals have fallen down. COVID-19 have affected the automotive industry and transportation sector in all the regions due to which the demand of the lubricants products have fallen down.HIGH USE OF LUBRICANTS IN DIFFERENT INDUSTRIESIMPACT ON AUTOMOTIVE INDUSTRYThe COVID-19 pandemic has had a rapid impact on the lubricants market for automotive goods and on the globally interconnected automotive industry. Symptoms include a disruption of shipments of Chinese products, large-scale production interruptions throughout Europe, and the closure of assembly plants in the U.S. The manufacturing and assembling of the automobiles have declined due to which the demand of the lubricants used in the manufacturing of the automobiles such as car, passenger’s vehicles have declined. Automotive and Center for Macroeconomics teams have stated that the automotive sales have decreased to 14-22% among the China, U.S. and European markets in 2020 due to the COVID-19. The engine regulations for BS-4 have also changed due to which the demand of the automobiles have been affected which have the negative impact on the lubricants industries during the COVID-19.  FIGURE 1    LIGHT VEHICLE SALES BETWEEN FEB 2019 VS. FEB 2020 (IN THOUSAND UNITS)From the above chart, we can infer that the demand of the light vehicle have declined in several countries as in China, the sale of the light vehicle was 1400 thousand units in February 2019 which declined to 200 thousand units in February 2020. In Japan, the sale of the light vehicle was 450 thousand units in February 2019 which declined to 400 thousand units in February 2020. In South Korea, the sale of the light vehicle was 150 thousand units in February 2019 which declined to 120 thousand units in February 2020. As the sale is declining resulted in the lower production in the automotive industry which has resulted declination in the demand of the lubricants for automotive industry. IMPACT ON MACHINERY INDUSTRYDuring the COVID-19, the lockdown was done in all the countries due to which the production of the finished goods fell down. The production of the new machinery and equipment which are used in the manufacturing have fallen down and also manufacturers are not able to put in more money in the business during the pandemic situation.Industrial activity in the COVID-19 period has shrunk which has impacted the demand of various types of industrial lubricants including transmission and compressor oils, metal working fluid, agri-spray oils, turbine oils, greases, industrial gear oils, hydraulic oils and other industrial lubes. Different lubricants are used across various industries for running of the large and small machineries such as metals and mining, power, iron and steel, chemicals, cement, construction, railways, oil and gas, general manufacturing, and others. In the pandemic situation, considering that most industries and manufacturing sector have been impacted due to the lockdown in the countries which has affected the demand for industrial lubricants on the larger extend.  TABLE 1    IMPACT ON KEY INDUSTRIES BY COVID-19 IN INDIAIndustryImpactPower-25% fall in peak demandConstructionComplete lockdownIron and Steel-8% fall in 2020CementFall in 10–20% demand contractionRailwaysComplete lockdownFrom the above table, we can infer that the COVID-19 have impacted the several industries and production activities in several regions due to which the demand of the machinery and other equipment in the large industries have fallen down which have resulted in a negative impact on the demand of the industrial lubricants.IMPACT ON AGRICULTURE INDUSTRYAgriculture sector have also been affected by the COVID-19 situation in all the regions. Agricultural actives have faced the shortage of the labor. Agriculture products include fruits, vegetables and several grains on which some of them have specified shelf life. During the COVID-19, the disruption in the supply chain has affected the agriculture industry. But on the other hand, the demand of the agriculture products or the organic products have been on rise during the COVID-19. With increasing demand of the agriculture products, the machinery have been used in the agriculture activities. The increasing use of tractors, grinders and other machineries have increased the demand for the agricultural lubricants in the global market. With increasing automation in the agriculture, the demand of the agriculture lubricant for different fleet will increase.CONCLUSIONThe COVID-19 crisis has created the pandemic situation widely which affected the growth of the lubricants market as the demand in the industrial machinery, automotive industry have fallen down in all over the world. As, the government imposed lockdown rules for all the manufacturing industries due to which manufacturers were not able to produce the lubricants for the specific application which lead to the huge loss to manufacturers and will show a steady growth in coming years. The supply chain have also become the challenge for the lubricants manufacturers as import and export of the finished goods and raw materials have become difficult in the COVID-19 situation.Lock down for more than 3 months in the countries have resulted into the declining of the demand of the industrial lubricants and also the demand for the automotive lubricants have also fallen as the demand of the automotive have fallen down but on the other hand, with the increasing demand of the agriculture products, the usage of the lubricants in the agriculture machine have increased which have increased the demand for the agriculture lubricants in the lubricants market which help the manufacturers to earn revenue in the COVID-19 period. After the lock down, the manufacturing sector will increase on the pace which will help the industrial lubricants growth in near future.

  • 4 days ago | Food & Beverage

    COVID-19 Impact on Food Equipment in Food and Beverage IndustryOVERVIEWFood equipment industry includes processing machines, components and systems used to prepare, handle, store, cook and package food and food products. Even though these food equipment are mainly aimed towards the transformation such as increasing the consumption, palatability and digestibility or preservation which means enhancing the shelf life of food. Some other types of equipment are also employed to perform auxiliary or preliminary functions, such as preparation, handling and packaging. Food equipment are used in various applications ranging from beverages industry to bakery products and dairy to produce wide variety of food processing equipment available to perform the various unit operations required during a complete production cycle, such as separating, washing, baking, mixing, sealing and freezing. One of the hardest-hit industries due to the COVID-19 is the food equipment manufacturing industry. The COVID-19 originated in China, which is a major country for the supply of raw materials to the factories across the world. The measures such as lockdown and ban on transportation are being taken to restrict the spread of the coronavirus which has led to the shutdown of the manufacturing facilities and derailing the entire global supply chain. This has affected the chain of events which includes a downturn in economies across the world and decline in global FDI inflows. According to the United Nations Conference on Trade and Development (UNCTAD), COVID-19 is expected to cause decrease in the global FDI by 5 to 15% owing to the downfall in the manufacturing sector coupled with factory shutdown.ANALYSIS ON FOOD EQUIPMENT INDUSTRYIn this scenario of COVID-19 pandemic, food equipment manufacturing companies are facing significant reduction in the consumption and also the supply chain issues which is affecting the demand for food equipment. Food and beverage industry is the largest user of food equipment. According to the estimate of French trade group ANIA, the food & beverage manufacturers have suffered a 22% loss in turnover across the world. This shows that the demand for food equipment has also reduced. The supply of raw materials to the site is affected which has hampered the production of equipment which is forcing manufacturers to shut down the operations, also the companies are facing manpower issues in the time of social distancing.Food equipment is used in various food related industries such as dairy, meat, fisheries and oil among others. These industries are affected owing to the COVID-19 pandemic which in turn is expected to reduce the demand for food equipment in these industries. According to the Food and Agriculture Organization (FAO), the global meat production is expected to reduce by 1.7% in 2020 owing to COVID-19 related market disruption. The prices of meat in the International market have fallen by 8.6 percent from January 2020 owing to the COVID-19 related measures. The COVID-19 pandemic has heavily affected the fish industry. The global demand for the fish is expected to fall by at least by 15 percent in 2020. The global sugar production is also expected to reduce. The global dairy exports are expected to fall by 4 percent amid faltering import demand. This shows that the negative impacts of COVID-19 on these industries is also expected to reduce the demand for food equipment needed in these industries.DISRUPTIONS TO SUPPLY CHAINSThe measures which are being taken to restrict or prevent the spread of COVID-19 are also affecting the functioning of food equipment supply chains. The impact on labour availability is of major concern. The food equipment industry is expected to be vulnerable to the adverse impacts on the workforce from the spread of COVID-19 (workers being in isolation or sick) and may face additional distribution and production costs, a result of safety and health measures introduced to decrease the exposure of their workforce. Two clear mechanisms of virus transmission are people in contact with contaminated surfaces and people who are in close proximity. Managing these risks require immediate changes to the way food equipment is distributed and processed, but could be difficult to implement in the short term owing to challenges with regard to sourcing protective equipment and masks for workers. Because of increasing infection rates and absenteeism, the available workforce has already been reduced. In addition to disruption to supply, infection rates in processing facilities have in turn led to reductions in demand. Restrictions on the mobility of the people and lockdowns is also affecting the provision of equipment safety, certification checks and quality, including those which are required to facilitate trade such as physical inspections of equipment to certify compliance sanitary and phytosanitary requirements (SPS).Measures to restrict the spread of the COVID-19 are causing disruptions and delays to logistics and to transport services. Border closures and additional checks and procedures have led to delays and congestion affecting the transit of food equipment products. For instance, social distancing rules have decreased the numbers of export and import inspectors at borders which has increased the time required for custom clearance. The shutdown of airlines and increased cost of international flights due to decreased volume of trade and unavailability of commercial passenger flights is causing major problem for the export of high value food equipment products. The closure of port is arising as a problem too when the food equipment are to be diverted from one port to another or to others country’s port. The COVID-19 pandemic is expected to have impacts over the long and short term for equipment industry loss.Bottlenecks in logistics and transport have disrupted the movement of equipment along with supply chains. Food equipment is transported with the help of three major modes of transport which includes bulk (barges and ships), containers (by boat, truck or rail) and other road transport and air freight. The mode of transport depends upon the type of equipment. The COVID-19 impact on these transport modes varies considerably. Bulk shipments have not faced any major disruptions and prices for bulk freight are actually near multi-year lows. However, air freight has been greatly disrupted. World air cargo capacity in the week of 10th to 16th May was 26% lower than during the same period last year with the largest reduction in capacity on routes between Latin America and Europe (with reductions of more than 80%). The disruption is affected by the steep decline in passenger air travel, which is in the normal time and accounts for the majority of air cargo capacity. Disruptions to truck and container transport fall somewhere in-between, currently the number of container ships is 8% below normal owing to COVID-19 restrictions such as restrictions on crew changes, mandatory quarantines, additional screening and reduced demand. Commercial road transport in April was about 20% lower than normal in the United States and Canada. In Europe, truck traffic is initially reduced by more than 50% in Spain, 37% in Italy and 46% in France. This shows the impact of COVID-19 on the transport or supply of food equipment to various destinations.MANUFACTURER’S RESPONSE TO COVID-19We are temporarily closing some of our plants, beginning with one- to two-week closures in early April for five of our ten America region plants and three of our six Europe and Middle East and Arica region plants. All four of our Asia-Pacific region plants are currently operating on normal schedules. We will continue to adjust these schedules based on governmental requirements, health, safety and demand factors on an ongoing basis as we proceed through the COVID-19 pandemic and related market impactsRich Sheffer, Vice President Investor Relations and Risk Management and Treasurer for Welbilt, Inc.With the global outbreak of COVID-19 and an increasing number of countries under lock-down, negative effects are expected in the global economy going forward. In this context, the company has decided to launch a cost reduction program to proactively address the expected weaker conditions in the next few quartersTom Erixon, President and CEO for the Alfa Laval GroupDue to the current development with the spread of the COVID-19 virus and the related directives of the French Government, Bucher Industries has decided to temporarily shut down production sites in FranceSilvia Oppliger, Head of Group Communications for Bucher IndustriesOur global network of manufacturing sites is working together with our suppliers to mitigate as much as possible, any impact on the supply of Tetra Pak’s complete offering to our customers. We are also co-ordinating with our global logistics partners with the aim to ensure continued shipments to our customers in various potential scenariosAdolfo Orive, President and CEO for Tetra Pak International S.A.CONCLUSIONAll the food equipment manufacturers are suffering during the time of COVID-19. Disrupted supply chain and reduced demand are some of the major factors that manufacturers are facing due to COVID-19. Once the pandemic situation settles, the companies will find it imperative to change with time and innovate to remain relevant. However, the growth in the demand of processed food products has continuously engaged the food manufacturers in the production process which has led the requirement of the machineries across globe. The disruption in the supply chain including raw material, equipment and other beneficiaries have impel the food processing market, whereas the demand of the food products through e-platform have shown anonymous growth in the retailing of food products. There is a seismic effect of the COVID-19 pandemic on businesses across the world, but there are lessons that can come out from it. This is an opportunity to fine tune business contingency and continuity plans, but it is also a chance to decide what things are mainly important and find new ways in which to grow.

  • 4 days ago | Semiconductors and Electronics

    COVID-19 Impact on Data Analytics in Healthcare in Semiconductors and Electronics Industry INTRODUCTIONThe world is witnessing a great impact on the human, economy and industries due to COVID-19. World Health Organization (WHO) reports that the death rate is increasing continuously, globally. Due to its severe global economy, the government has taken the decision of complete lockdown. This lockdown will help in minimizing the spread of the virus. This decision has brutally affected all the sectors due to the complete shutdown of the manufacturing operations.After completion of six months of lockdown in the year 2020, the government has taken the decision to unlock which means companies and the industrial sector can restart their business operations with some mandatory guidelines.For instance,The government has given permission to restart their factories with only 20% - 50% employees on the field following social distancing, extreme hygiene measures and others. It is supporting the economy and consumer goods production need at a certain level due to the restriction of limited manpower utilization.The biggest problem faced by the governments of all countries is the lack of an effective system for identifying unknown infected cases and estimating the likelihood of COVID-19 virus infection. In response to this problem, the research proposes a new groundbreaking approach to reduce major difficulties in the spread and infection of coronavirus (COVID-19).During the pandemic situation, data analytics play the most vital role in the healthcare sector. The integration of data analytics in the healthcare helps doctors to avoid unnecessary harms to their patients by avoiding faults in the treatment.IMPACT ANALYSIS OF COVID-19 IN DATA ANALYTICS IN HEALTHCARE INDUSTRY The healthcare industry has been facing different challenges on the regular basis, starting with the new diseases to identify the method that helps healthcare industries to maintain ideal operational efficiency. Big data analytics allows doctors to solve healthcare challenges. The major advantage of data analytics is that it allows the healthcare companies to derive meaningful insights for the collected data which resulted in improving the operational efficiency of the industry.The pandemic situation has raised the demand of data analytics in the healthcare sector. With the usage of data analytics, the healthcare sector is working along with the local as well as regional vendors for improving and enhancing the healthcare facilities which has resulted in minimizing the mortality rate of the countries. The aim of the partnership is to plan that the companies are continuously focusing on developing such platforms and applications that helps the doctors to minimize the mortality rate of our country.It has been witnessed that China had used the big data analytics and other digital platforms effectively which further allow China to track and identify at what rate the disease is being spread in the country.For instance,China had adopted surveillance for detecting COVID-19 patient. China government had installed thermal scanners at train stations, retail shops, airport and others for detecting and identifying the patients suffering from COVID-19. Later, China government had launched a “close contact detector app”. This app sends alert in the mobiles if any person was in contact with COVID-19 patient including the data collected from different apps, including the number of confirmed cases, death rates, contact tracing of people, passenger traveler from one place to another among others. Later, all the data are being refined with the help of data analytics tools and all these insights help the healthcare industries and government to plan future step against the pandemic.CONCLUSIONThere are various data analytics tools and platforms used in the healthcare sector. Many countries and healthcare institutions had understood the importance of data analytics in healthcare. This data analytics tool allows the healthcare department to meet the challenges that occur during the pandemic situation. The adoption of data analytics in healthcare will be going to replace the regular visit of clinics with remote monitoring. It had been observed about the trend of disease spread which is changing in an hourly basis. In that case, data analytics allow the healthcare sector to take a quicker decision against the pandemic.

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