As Tropical Storm Ida, the ninth-named tropical storm of the season, intensified into a Category 4 hurricane and slammed into Louisiana in late August, it left carnage in its wake. Not that the US Gulf Coast is any stranger to devastating hurricanes, but Ida is one that will have a massive effect on global supply chain by virtue of exactly where it hit.
On its pathway across the Gulf of Mexico, Ida had already caused almost all Gulf oil production to shut down, affecting almost 15% of US output. But Ida was also aimed at a corner of Louisiana and Texas that manufactures 20% of global ethylene supply. With petrochemical giants like ExxonMobil and Dow Inc squarely in Ida’s bull’s-eye, the repercussions on global supply chains depending on plastics will be severe.
Call it a perfect storm of factors, if you pardon the pun. Way before Ida even began developing as a tropical storm, global plastic prices were already sky high. Like the more well-known supply crisis in semi-conductor chips, that is affecting everything from cars to microwaves to toys – there is a shortage of plastics in the world, which has caused prices to spike. Much of this can be traced back to the first Covid-19 lockdowns in 2020, which caused refining activity to scale back considerably. It made sense. After all, why produce gasoline when there is no one driving? But refinery shut-ins also reduced the amount of petrochemical feedstock produced – olefins and aromatics like ethene, propene, benzene and xylene that serve as the raw material for polyethylene (PE), polypropylene (PP) and polystyrene. On the other side of the supply chain coin, changing consumer habits due to the pandemic were moving the market in different ways. The rising of online shopping while in lockdown did manage to boost consumer spending, with the items themselves and their packaging requiring plastics. Food delivery start-ups made major inroads to feed those stuck at home… and all those deliveries require plastic packaging. Meanwhile, the health crisis stemming from Covid-19 and the ensuing global vaccination drive saw demand for plastic materials for syringes, face shields and personal protective equipment (PPE) go through the stratosphere. So much for sustainability in some sense in the wake of COVID 19
With the easing of lockdowns towards the end of 2020, the supply-demand imbalance in petrochemicals and plastics did ease somewhat. But then the Big Freeze in Texas and other winter storms swept across the US hit in February, causing most US petrochemical capacity to shut down. Which, once again, placed huge pressure on petrochemical supply since the US Gulf is one of the major producers of petrochemical feedstocks as a result of the shale revolution and the natural gas liquids (NGL) bonanza producing vast quantities of ethane and propane. Since the early part of 2010s, the US Gulf Coast has invested vast amounts into building up its petrochemical capacity, shipping it as far as China and Europe, who in turn transform them into shampoo bottles, surgical gloves and everything in between.
After the Freeze, US petrochemical producers spent most of the first half of 2021 recovering from the February winter storm shut-downs; a situation then compounded by global shipping constraints, not just the curious case of the Ever Given tanker wedged in the Suez Canal for six days, but an actual chronic lack of container freight capacity. A surge in shipping trade in the first half of 2021 exhausted the supply of cargo container, causing prices to rise sharply on popular routes such as Shanghai to Los Angeles or Shenzhen to Rotterdam. The ongoing Covid-19 crisis continues to compound the issue: the port of Ningbo-Zhoushan in China – the third busiest container port in the world – was shut for nearly two weeks recently after a single positive case. All this means that not only are plastics prices high because of raw materials, but the high cost of freight compounds the issue and makes plastics prices even higher because of all the logistic and supply chain challenges. Then Hurricane Ida hit.
And this is not yet the end of the Atlantic hurricane season. The 2021 hurricane season is already one of the most active on record, having caused over US$50 billion in damages and lost economic activity. More storms and hurricanes could develop, potentially adding fuel to the fire that the petrochemicals sector is enduring right now. Estimates from ICIS suggest that further prolonged disruptions to supply could see prices for key petrochemicals double; polypropylene, for example, could hit an eye-watering US$4,000 per metric ton in this scenario.
Overstretched and under water, the previously quiet plastics crisis is now starting to make headlines. Recent Chinese economic data has fallen short of expectations, precisely because key materials like plastics and semiconductors are in short (and pricey) supply. The momentum of the global economic recovery from Covid is under threat. And just as Hurricane Ida continued to wreak havoc even inland, causing unprecedented flooding and storms in New Jersey and New York, the consequences of Ida on plastics could be far longer and far more wide-ranging than its initial impact area.
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According to MarketDigits Gunshot Detection Systems Market was valued USD Billion in 2021 and estimated to reach USD 1,413 Million by 2028, growing at a CAGR of 10.5% during the forecast period of 2022-2028.
Top Key Players of Gunshot Detection Systems market: -
Information System Technology, Acoem Group, ELTA Systems Ltd, Louroe Electronics, Compagine Industries Des Lasers (CILAS), MicroflownAvisa B.V, Rheinmetall AG, Databuoy Corporation among others.
Gunshot Detection Systems Market Insights:
Gunshot Detection Systems Market expansion is estimated to be fueled by rising expenses in border security. The use of these tools can help border security personnel identify and foil attempts at smuggling, infiltration, and illegal immigration. Manufacturers might also be able to help law enforcement identify criminals and find illegal entrances even in the absence of gunfire with a small system adjustment. To counteract the escalating number of mass shooting occurrences, various law enforcement organizations are currently using a variety of strategies, creating new market prospects for cutting-edge gunfire detection systems.Major American cities are seeing an increase in the number of public gun shootings. The precise location of the gunshot can be determined using gunshot detection equipment. Schools, hospitals, and universities can all install this technology. The market for gunshot detection may be driven by the need to ensure the safety of residents and pupils.The gunshot detection system market is highly competitive with a large number of players offering various products and services. Some of the key players in the market include Information System Technology, Acoem Group, ELTA Systems Ltd, Louroe Electronics. These companies have a strong presence in the market and have been investing heavily in research and development to develop advanced and innovative products.
Regional Market Insights:
Because of the development of nations like China, India, and Southeast Asia, the Asia Pacific region is estimated to account for a sizeable portion of global sales. The region's development of smart city initiatives has made a substantial contribution to market expansion. Thailand has the highest rate of firearm fatalities in Asia-Pacific. Gunshot detection systems now have a chance to take advantage of the LEMEA region's apparent trend toward safe cities.
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The report on Gunshot Detection Systems Market covers segments By Application (Defense, Commercial), Installation Type (Soldier Mounted, Vehicle Installations, Fixed Installations), Solution Type (System, Saas) & Geography and Forecast to 2028. The report was put together after watching and researching a number of elements, including the region's economic, environmental, social, technological, and political condition, that affect regional growth. Analysts have examined each region's data on sales, output, and manufacturers. The revenue and volume breakdown by region for the forecast period of 2022 to 2028 is analyzed in this section. The reader will gain insight into the possible value of investment in a specific area thanks to these evaluations.
Pre-Post Impact of Covid-19 on Gunshot Detection Systems market: -
The COVID-19 pandemic, which has affected businesses from all sectors of industry, has had an influence on both personal and professional lives. Public sector businesses and government organizations, as well as the IT, telecommunications, and healthcare industries, heavily invested in IoT technology to manage the unique COVID-19 pandemic catastrophe and get the best results in saving a life. Therefore, increased IoT investment during the pandemic is a significant contributor to the market's growth.
Gunshot Detection Systems Market Scope and Market Size:
The main outputs of this analysis are market data with thorough classifications and revenue breakdowns. Revenues from the Gunshot Detection Systems Market are broken down by service type, deployment style, sector, and geography. Players, stakeholders, and other market participants will be able to establish a strong position as a result of this report's benefits for their marketing plans. In terms of revenue and forecast for the years 2022–2028, the market study focuses on revenue and forecast by region/countries and by application. In-depth market share analysis with individual revenue, market shares, and company rankings. Detailed competitive landscape with identification of the important players in relation to each type of market.
The Report also looks at the market's current state of development, its prospects, and the global Gunshot Detection Systems market trend. Additionally, it divides the Gunshot Detection Systems Market into segments according to service type, deployment methodology, industry, and region to allow for in-depth analysis and the disclosure of market characteristics and prospects.
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Segmentations Analysis of Gunshot Detection Systems Market: -
Major Segmentations Are Distributed as follows:
By Installation Type
By Solution Type
Gunshot Detection Systems Market Report Gives Answers to Following Key Questions:
MarketDigits is one of the leading business research and consulting companies that helps clients to tap new and emerging opportunities and revenue areas, thereby assisting them in operational and strategic decision-making. We at MarketDigits believe that market is a small place and an interface between the supplier and the consumer, thus our focus remains mainly on business research that includes the entire value chain and not only the markets.
We offer services that are most relevant and beneficial to the users, which help businesses to sustain in this competitive market. Our detailed and in-depth analysis of the markets catering to strategic, tactical, and operational data analysis & reporting needs of various industries utilize advanced technology so that our clients get better insights into the markets and identify lucrative opportunities and areas of incremental revenues.
According to MarketDigits Pet Wearable Market was valued USD Billion in 2021 and estimated to reach USD 5.80 Billion by 2028, growing at a CAGR of 13.7% during the forecast period of 2022-2028.
Top Key Players of Pet Wearable market: -
Fitbark, Datamars, Avid Identification Systems, Link AKC, Voyce, Invisible Fence, Garmin Ltd, Whistle Labs Inc, PetPace LLC among others.
Pet Wearable Market Insights:
Because more people are adopting pets as companions for mental stability and enjoyment, pet care costs are also rising. Moreover, the global pet wearable market is estimated to expand rapidly during the forecast period due to the increasing accessibility and popularity of wearable devices. Additionally, improvements in wireless area networks, reasonably priced and effective wireless sensors, the use of digital maps, and the creation of mobile applications all contribute to the rising demand for pet wearables. Another important aspect that is expected to fuel the market's expansion is the expanding Internet of Things trend. Last but not least, the usage of and demand for pet wearables advised by insurance companies would be another significant factor influencing the industry for pet wearables.The worldwide pet wearable market is still in its beginning, and established and growing businesses are engaged in heated competition. The leading market players place a strong emphasis on research and development to create cutting-edge items in order to increase their product offerings. To improve their position globally, companies are concentrating on strategic alliances, growth, and acquisitions.
Regional Market Insights:
The worldwide pet wearable market is divided into six regions based on geography: North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa. A rising trend in pet adoption and humanization, rising disposable income, and rising per capita income all contribute to North America's market dominance in terms of revenue. The market for pet wearables in North America is also expanding as a result of rising pet health awareness, product innovation, and advanced technology. Additionally, a high concentration of important enterprises in the area and an increase in product releases are expected to fuel the market.
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The report on Pet Wearable Market covers segments By Application (Fitness Monitoring, Medical Diagnosis, Treatment, Identification & Tracking), Product (Smart Vest, Smart Camera, Smart Collar, Smart Harness), Technology (GPS, Bluetooth, Sensors) & Geography and Forecast To 2028. The report was put together after watching and researching a number of elements, including the region's economic, environmental, social, technological, and political condition, that affect regional growth. Analysts have examined each region's data on sales, output, and manufacturers. The revenue and volume breakdown by region for the forecast period of 2022 to 2028 is analyzed in this section. The reader will gain insight into the possible value of investment in a specific area thanks to these evaluations.
Pre-Post Impact of Covid-19 on Pet Wearable market: -
Pet Wearable Market Scope and Market Size:
The main outputs of this analysis are market data with thorough classifications and revenue breakdowns. Revenues from the Pet Wearable Market are broken down by service type, deployment style, sector, and geography. Players, stakeholders, and other market participants will be able to establish a strong position as a result of this report's benefits for their marketing plans. In terms of revenue and forecast for the years 2022–2028, the market study focuses on revenue and forecast by region/countries and by application. In-depth market share analysis with individual revenue, market shares, and company rankings. Detailed competitive landscape with identification of the important players in relation to each type of market.
The Report also looks at the market's current state of development, its prospects, and the global Pet Wearable market trend. Additionally, it divides the Pet Wearable Market into segments according to service type, deployment methodology, industry, and region to allow for in-depth analysis and the disclosure of market characteristics and prospects.
Purchase this single Pet Wearable Market user report @ https://marketdigits.com/pet-wearable-market/buy
Segmentations Analysis of Pet Wearable Market: -
Major Segmentations Are Distributed as follows:
Pet Wearable Market Report Gives Answers to Following Key Questions:
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