Adhesives are materials applied between two substrates (both metallic and nonmetallic substances) for gluing or bonding purposes. Today, adhesives have replaced bolts and rivets in several applications such as buildings, automobiles, and aerospace. Adhesives provide scope for innovating the design and shape of products. They are widely used in the automobile industry to make lightweight and fully efficient vehicles.

A new revenue model that defines how a company creates and capitalizes economic value, typically impacting its value proposition, product offering, operational strategies, and brand positioning

Automotive lubricants are fluidic substances with the primary function of decreasing friction between surfaces of automotive parts that come into contact. Also, automotive lubricants reduce energy wastage caused by friction and are highly effective in cleaning, cooling, and protecting metal components from corrosion and rust, and many other challenges associated with the engine, equipment, and machinery operations. For example, automotive engine oil used in cars and heavyduty and other vehicles is formulated for specific use in automotive engines. A good quality engine oil is critical for the proper operation of an automotive engine as it prevents damage and extends its service life.

Precision agriculture is defined as the practices adopted to make farming accurate and precise. The techniques may include the use of artificial intelligence, a wide array of technologies such as sensors, drones, robotics, automated hardware, telematics, software, and autonomous vehicles. For instance, GPS is used to receive location data from satellites and control the farmer’s tractor based on coordinates of the field. The segment covers an in-depth analysis of the drivers, restraints, and opportunities in the precision agriculture market.

In 2019, the domestic sales of heavy vehicles registered a third consecutive annual expansion due to the recovery of the Brazilian economy following the 2015-2016 recession. Output fell slightly by 0.1% y/y, while exports were down by 34.6% y/y in value and by 42.1% y/y in volume due to lower sales to Argentina. In 2020, the COVID-19 pandemic led to two-digit annual falls in output, domestic sales and exports of heavy vehicles. However, in 2021, the regional economic recovery led to a strong rebound in the demand for heavy vehicles. Domestic sales increased by 37.8% y/y in 2021, to 142,741 units, while export volume rose by 49.4% y/y to 34,934 units. This was accompanied by a solid 61% y/y expansion in heavy vehicle output, to 185,762 units. Output and domestic sales reported the largest volume for the 2016-2021 period, while exports reached the largest volume since 2018. Trucks accounted for the bulk of production, sales and exports in the heavy vehicle segment, being the main growth driver in 2021 as well.

The Indonesian automotive market is highly concentrated, with a few players accounting for the bulk of sales. In 2021, the top three brands controlled 63% of new motor vehicle sales (PCs and CVs), while the top five accounted for 84%. Japanese manufacturers are dominant both in terms of production and sales as they enjoy strong brand awareness and have built extensive dealership networks across the country. In addition, most of them have local plants and benefit from Indonesia’s relatively cheap workforce and low taxes, which decrease their production costs. The European brands have negligible market share, as they are positioned mainly in the premium segment. Chinese automakers have pledged to aggressively enter the market, but, so far, their penetration has been limited.

The considerable growth of the global beltdriven starter generator market is attributable to the unprecedented consumer shift from Internal Combustion Engine (ICE) vehicles to Mild Hybrid Electric Vehicles (MHEVs). The growing awareness of the environmental impact of carbon emissions among consumers has accelerated the demand for technologies that minimize their carbon footprint. Moreover, the rising fuel costs are also encouraging consumers to minimize their fuel usage and focus on adopting solutions that improve fuel efficiency. Thus, all these factors are driving the demand for belt-driven starter generators in the market.

Base oils are refined base stocks that are used to manufacture automotive and industrial lubricants, oils, greases, rubber products, and white and paraffin oil. Base oils are relatively more polar in nature than paraffinic oils, and therefore, have exceptional cooling and low-temperature properties. Lubricants are used to minimize friction and wear and tear between surfaces. Most lubricants consist of 70% lubricant oil and up to 30% chemical compounds known as additives.

Polyalphaolefins are the most prevalent synthetic base oils used in industrial and automotive lubricants. It's a synthetic hydrocarbon (SHC) that replicates hydrocarbons since it is available in a branched structure. There are no ring structures, double bonds, sulfur, nitrogen components, or waxy hydrocarbons in polyalphaolefins. Due to the lack of these structures and materials, a non-polar base oil with a high viscosity index, excellent low-temperature flow and pour-point characteristics, strong oxidation stability, and compatibility with mineral oils, paints, and seals that are usually found in lubricating oil systems is produced. PAOs do not contain lighter, more volatile (small) hydrocarbons due to their regulated structure. This reduces their volatility and hydrocarbon emissions from tailpipes and elevates the flash point.

Establishments described in this report are primarily participating in the transmission sales market.