Bioplastics Industry Unveiling the Bioplastics Revolution For Cleaner Future

 

 

Global bioplastics sector data book, published by Grand View Research’s is a collection of market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking analyses, macro-environmental analyses, and regulatory & technological framework studies. Within the purview of the database, such information is systematically analyzed and provided in the form of outlook reports (1 detailed sectoral outlook report) and summary presentations on individual areas of research along with an agricultural statistics e-book.

 

The economic volume generated by the bioplastics industry was estimated at approximately 2,470.6 kilotons in 2021. This economic output is an amalgamation of businesses that are involved in the raw material suppliers, compounding of bioplastics & their additives, distribution & supply, and application of bioplastics.

 

Biodegradable Plastics Market Growth & Trends

 

The global biodegradable plastic market is expected to witness significant growth, particularly in emerging markets such as the United States, Canada and India. Increasing concerns about toxicity issues associated with petrochemicals and the depletion of crude oil reserves have spurred the development of bio-based polymers. Additionally, government regulations restricting the consumption of fossil-based plastics in certain applications such as food packaging and medical devices are expected to further stimulate the production of biodegradable plastics in the plastics industry.

 

Increasing concerns about the use of plastics have increased the demand for plastic alternatives in the market. With the pace of new product development and technological innovation, manufacturers in the industry are shifting their focus to developing biodegradable plastics. Innovative biopolymers such as PHAs (polyhydroxyalkanoates) and PLA (polylactic acid) are the key growth drivers of the biodegradable plastics market. These polymers are important members of the biopolymer family and are finally entering the market on a commercial scale. Due to their chemical composition, they possess a wide range of physical and mechanical properties required for various applications such as agriculture, medical devices and food packaging. 

 

Polylactic Acid Market Growth & Trends

 

The polylactic acid market is expected to witness growth on account of rising demand from end-use industries such as packaging, automotive & transport, electronics, textiles, and others. Packaging end-use segment dominated the PLA market in 2021 and accounted for a revenue demand from flexible packaging is fueling the growth of packaging industry globally. Increasing demand for packaged foods, snacks, ready to eat meal, and others are substantially propelling the growth of packaging industry. Thus, the growing packaging industry is further anticipated to create demand for polylactic acid during the forecast period. 

 

Manufacturers of polylactic acid aim to strengthen their market position by expanding their customer base. TotalEnergies Corbion, NatureWorks, LLC, COFCO International, Shanghai Tong-jie-liang Biomaterials Co., LTD., and others are leading producers of polylactic acid. Its good heat resistance and flexibility are used in various applications such as agriculture, packaging, textiles, automotive & transport, electronics, and others. These manufacturers focus on new product launches depending on the market requirements, technology innovations, and supply channels, as well as on mergers & acquisitions undertaken by their industry participants to meet the current and future demand for polylactic acid (PLA) in the growing packaging, textile, and other industries. 

 

Order your copy of Free Sample of “Bioplastics Industry Data Book - Biodegradable Plastic, Polylactic Acid (PLA), Bio-based Polyurethane (PU) and Biopharma Plastics Market Size, Share, Trends Analysis, And Segment Forecasts, 2022 - 2030, published by Grand View Research

Bio-based Polyurethane Market Growth & Trends

 

Companies operating in the global bio-based polyurethane market lay high emphasis on expanding their global footprints in an attempt to increase their revenue and market share. Companies are expanding their services in Asia Pacific to cater to the rising demand from developing countries. Countries such as India and China wherein the construction expenditure is growing significantly, are expected to provide new expansion opportunities for the market players over the forecast period.

 

Consumer goods end-use segment is expected to witness a growth rate of 6.5% during the forecast period. Bio-based polyurethane is widely used in the form of flexible polyurethane foam in various furniture applications such as furniture, beddings, sofas, and others owing to its properties such as softness, flexibility, and durability.  Electrical & electronics, packaging, and other end-use segments are expected to witness a growth rate of 6.0%, 7.0%, and 5.8%, respectively, over the forecast period.

 

Bio-based polyurethane foam is widely used in spray form for sealing holes, joints, cracks, and bonding other building materials, which ultimately reduces the amount of conditioning or heating required inside the building. Additionally, bio-based polyurethane is also used for structural elements, substrates, and other building components in construction industry. 

Biopharma Plastics Market Growth & Trends

 

The demand for protective wear is the next growing application segment after containers growing due to the COVID-19 outbreak put the global healthcare supply chain in the spotlight. This is mainly due to the improved healthcare sector in Europe, the Middle East, North America, and the Asia Pacific.

 

Additionally, according to the WHO, cancer is the second leading factor of death and accounts for 9.6 million deaths globally. Face, breast, and throat cancers are the commonly occurring cancers that require surgeries and chemotherapy. This has driven the protective wear market, which further is expected to increase the demand for biopharma plastics.

 

Syringe application segment is expected to have the highest penetration among all the segments in the global biopharma plastics market in 2021. Increasing utilization of plastics for manufacturing of syringes, as opposed to alloys and metals, has been a major factor contributing to the growth of the syringes application segment. Over the recent years, there has been a considerable rise in syringes production across the globe, which is majorly driven by the increasing demand from medical/healthcare and biopharma industry.

 

Go through the table of content of Bioplastics Industry Data Book to get a better understanding of the Coverage & Scope of the study.

 

Competitive Landscape

 

Key players operating in the Bioplastics Industry are –

• BASF SE
• Avantium
• NatureWorks LLC
• SABIC
• Total Corbion PLA
• Biome Technologies plc
• TEIJIN LIMITED 

Solar PV Systems Industry: Harnessing The Sun's Power And Revolutionizing The Energy Landscape

 

 

Global solar PV systems sector database is a collection of market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking analyses, macro-environmental analyses, and regulatory & technological framework studies. Within the purview of the database, such information is systematically analyzed and provided in the form of outlook reports (1 detailed sectoral outlook report) and summary presentations on individual areas of research along with a statistics e-book.

 

Access the Global Solar PV Systems Industry Data Book, 2023 to 2030, Compiled Report By Grand View Research

 

Solar PV Modules Market Report Highlights

 

The global solar PV modules market size is expected to reach USD 157.75 billion in 2022, expanding at a CAGR of 7.8% from 2023 to 2030, according to a new report by Grand View Research, Inc.
• The global solar PV modules market is expected to witness growth on account of rising environmental concerns regarding the increase in carbon emissions owing to the usage of conventional fuels for transportation and power generation purposes have prompted countries around the world to opt for cleaner and more efficient sources of power.
• Furthermore, under the Paris Climate Agreement, countries such as the U.S., Germany, India, Japan, and the UK have pledged to reduce their carbon footprints.
• Numerous governments across the world have framed various regulations to reduce greenhouse gas emissions.
• The Kyoto Protocol, which was introduced by the United Nations Framework Convention on Climate Change (UNFCCC) in 1997, was one of the first major steps toward controlling greenhouse gas emissions in various countries.
• It also led to increased investments in renewable energy generation methods such as wind, solar, and biogas. For instance, on January 9, 2023, Duke Energy Sustainable Solutions announced the expansion of its Green Source Advantage program with the option to supplement power usage with 100% renewable power with a new capacity of 4 GW.

Order your copy of Free Sample of “Solar PV Systems Industry Data Book –Market Size, Share, Trends Analysis And Segment Forecasts, 2023 - 2030” published by Grand View Research

PV Inverter Market Report Highlights

 

The global PV inverter market size is anticipated to reach USD 11.10 billion in 2022, registering a CAGR of 15.8% from 2023 to 2030, according to a new report by Grand View Research, Inc.

• Based on product, the string PV inverter dominated the market and accounted for the largest market share of 47.10% in 2023. This is due to its numerous advantages such as efficient energy conversion, grid integration, enhanced performance and monitoring, adaptability and scalability, and cost-effectiveness
• Based on end-use, the residential segment is expected to grow at the fastest CAGR of 20.4% over the forecast period. The increasing adoption of solar PV in the residential sector is driving the demand for PV inverters. According to the Solar Energy Industries Association (SEIA), annual solar PV installation in the residential sector in California, U.S., was recorded at 2,000 MW in 2022, up by over 40% compared to the previous year
• Asia Pacific dominated the market in 2023, owing to the increasing adoption of renewable energy in the residential, commercial and industrial sector. In addition, favorable government policies such as Pradhan Mantri Kisan Urja Suraksha Evam Uttham Mahabhiyan, Development of Solar Parks and Ultra Mega Solar Power Projects in India are further propelling the market growth
• The strengthening of market presence by major players is primarily driven by strategies such as mergers, acquisitions, and product launches. For instance, in March 2023, Semiconductor Components Industries, LLC collaborated with Sineng Electric Co., Ltd. to develop next-generation solar PV inverters to meet the growing demand for solar energy systems by end-users

 

Solar Charge Controller Market Report Highlights

The global solar charge controller market size is expected to reach USD 1.95 billion in 2022, expanding at a CAGR of 16.7% from 2023 to 2030, according to a new report by Grand View Research, Inc.
• By type, the Pulse Width Modulation (PWM) segment accounted for a significant market share in 2019 owing to PWM charge controller ability to self regulate to battery condition and provide constant voltage battery charging
• Maximum Power Point Tracking (MPPT) is anticipated to expand at the fastest CAGR over the forecast period. The growth can be attributed to the higher efficiency of MMPT technology and its ability to extract maximum power available from PV module under specified conditions
• The commercial application segment occupied the largest market share in 2019 and is expected to expand at the highest CAGR over the forecast period. Growing penetration of solar PV modules for power generation across commercial office spaces is expected to drive the solar charge controller demand across the segment
• Asia Pacific accounted for the largest revenue share in 2019, with China being the highest revenue contributor. Presence of major manufacturers, along with significant investments in the solar industry resulting in reduced production costs, is expected to boost the market growth in China.

 

Go through the table of content of Solar PV Systems Industry Data Book to get a better understanding of the Coverage & Scope of the study.

 

Competitive Landscape

 

The solar PV systems market players face strong competition from other regional and national players as well as from each other since they have a well-established supply chain network, knowledge of suppliers across markets, and well-informed about the power generation compliances and regulations for various end-use sectors. The market players compete based on product quality, production capacity, technology used to manufacture solar PV systems, and their geographical presence. Major players engage in investing in research and development, developing infrastructure, production facilities expansion, and mergers and acquisitions to vertically integrate their operations across the solar PV systems value chain. These initiatives help them expand their customer base, reduce production costs, develop state-of-the-art products and technologies, ensure competitiveness, and improve their revenue & operations profits.

Key players operating in the Solar PV Systems Industry are –

• JinkoSolar
• JA Solar
• Trina Solar
• LONGi Solar
• Canadian Solar
• SunPower Corporation
• First Solar
• Talesun
• Hanwha Group
• RISEN ENERGY Co. LTD.
• Yingli Solar
• GCL-SI
• HIANS Energy Solutions Ltd.
• Sunrun
• Trinity Solar, Inc

Bioplastics Industry To Develop As Of Rising Concern Regarding Plastic Waste All Over The Globe

 

Bioplastics Industry Data Book Covers Biodegradable Plastic, Polylactic Acid (PLA), Bio-based Polyurethane (PU) and Biopharma Plastics Markets.

The economic volume generated by the bioplastics industry was estimated at approximately 2,470.6 kilotons in 2021.

 

Access the Global Bioplastics Industry Data Book, 2022 to 2030, compiled with details like market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking, macro-environmental analyses, and regulatory & technological framework studies.

 

Biodegradable Plastics Market Growth & Trends

The global biodegradable plastics market size is projected to reach USD 10.0 billion by 2030, according to a report by Grand View Research, Inc., rising at a CAGR of 9.7% during the forecast period. The increasing use of biodegradable plastics, owing to strict governmental laws prohibiting the use of conventional plastics, coupled with growing awareness among the public towards the ill effects of plastic waste is stoking the growth of the market. The above factors are expected to spur market growth during the forecast period.

Biodegradable plastics are plastics that decompose in the environment within a reasonable period. Biodegradable plastics are made up of renewable raw materials. Many of these plastics require biodegradable additives to enhance the biodegradation process and some may require a specific environment to disintegrate. Time taken by plastics to decompose depends upon various factors such as raw materials used and environmental conditions such as moisture and temperature.

The starch-based segment leads the global market. Starch-based plastics are used in various applications such as packaging, consumer electronics, agriculture, automotive, and textiles. PLA is also one of the most consumed biodegradable plastic-type. It is used in 3D printing, mulch film, and packaging.

 

Polylactic Acid Market Growth & Trends

The global polylactic acid market size is expected to reach USD 2,772.93 million by 2030, registering a CAGR of 21.4% over the forecast period, according to a new study by Grand View Research, Inc. Rising environmental concerns, improving awareness among consumers, and stringent government regulations are contributing to eliminating the use of non-biodegradable plastics, which, in turn, is driving the growth of the polylactic acid (PLA) market. Polylactic acids are bio-sourced, and break down faster as compared to petroleum-based plastics. Due to their decreased carbon footprint, they get preference over traditional plastics. The rising emphasis on sustainable products is a key factor driving the growth of the flexible packaging industry, which is expected to result in reduced consumption of petroleum-based products and a shift toward bio-based alternatives.

Order your copy of Free Sample of “Bioplastics Industry Data Book - Biodegradable Plastic, Polylactic Acid (PLA), Bio-based Polyurethane (PU) and Biopharma Plastics Market Size, Share, Trends Analysis, And Segment Forecasts, 2022 - 2030, published by Grand View Research

Bio-based Polyurethane Market Growth & Trends

The global bio-based polyurethane market size is expected to reach USD 58.28 million by 2030, expanding at 7.97% CAGR from 2023 to 2030, according to a new study by Grand View Research, Inc. Growing awareness among consumers, environmental concerns, and stringent government regulations are contributing to the increased use of bio-based plastics and in turn, driving the growth of the bio-based polyurethane industry.

Bio-based polyurethane is bio-sourced and breaks down faster as compared to petroleum-based plastics. Due to their decreased carbon footprint, they remain a preferred option over traditional plastics. The rising emphasis on sustainable products is a key factor driving the growth of the packaging industry, which is expected to result in reduced consumption of petroleum-based products and a shift toward bio-based alternatives.

Moreover, bio-based polyurethane is increasingly being used to manufacture single-use packaging materials that include shopping bags and disposable cutlery, which is likely to boost their demand over the forecast period. Bio-based polyurethane is an environmentally friendly alternative to traditional plastics, notably in flexible and rigid packaging applications, as they are bio-based, compostable, and biodegradable.

Biopharma Plastics Market Growth & Trends

The global biopharma plastics market size is expected to reach USD 11,290.12 million by 2030, expanding at 11.3% CAGR from 2023 to 2030, according to a new study by Grand View Research, Inc. The rise in global healthcare expenditure for research & development of biopharma plastics is anticipated to drive the market. In addition, the rising demand for biopharmaceuticals, owing to the increasing cases of cancerous patients across the globe, is anticipated to propel the demand for biopharma plastics.

Plastics are widely used in this industry due to their versatility, durability, and cost-effectiveness. The use of plastics in biopharma applications includes packaging and delivery systems, laboratory equipment, diagnostic devices, and drug delivery devices.

The global biopharma plastics industry is expected to experience significant growth in the coming years. This growth is driven by factors such as the increasing demand for biopharmaceuticals, the growing prevalence of chronic diseases, and the rise in healthcare expenditure. Additionally, the need for more advanced and innovative packaging and delivery systems for biopharmaceuticals is also expected to drive market growth.

 

Go through the table of content of Bioplastics Industry Data Book to get a better understanding of the Coverage & Scope of the study.

 

Competitive Landscape

 

Key players operating in the Bioplastics Industry are –

• BASF SE
• Avantium
• NatureWorks LLC
• SABIC
• Total Corbion PLA
• Biome Technologies plc
• TEIJIN LIMITED

 

Grand View Research’s Bioplastics industry data book is a collection of market sizing information & forecasts, regulatory data, competitive benchmarking analyses, macro-environmental analyses, and technological framework studies. Within the purview of the database, all such information is systematically analyzed and provided in the form of presentations and detailed outlook reports on individual areas of research.

Solar Energy Generation Industry ESG Thematic Report, 2022

 

 

 

The average ESG score for the solar energy generation industry is between 55% and 65%. Our proprietary ESG scoring framework analyzed 65 parameters across the environment, social, and corporate governance, as represented in the methodology section of this document.

 

E.ON SE, Exelon Corporation, and five other market leaders were part of our research. Four of the market leaders ranked above average industry scores. However, one company needs to focus more on ESG reporting and transparency, as it scored well below the industry average. The majority of sustainability-related disclosures are centered on governance metrics, followed by environmental and social disclosures. E.ON SE leads the sector in terms of ESG disclosure, followed by Exelon Corporation and Equinor ASA.

 

For More Details: https://astra.grandviewresearch.com/solar-energy-generation-industry-esg-outlook

 

Environmental insights

 

Solar energy is one of the most impactful renewable energy sources that have significant potential in driving the energy transition. For example, solar panels can be used to generate clean power at home and reduce the cost of electricity in the long term. Solar panels are also a boon to the environment, as they reduce pollution. A well-built solar system within the premises can also help charge electric cars. Greater use of solar energy can, therefore, lower the need for nonrenewable fossil fuel sources, such as coal, natural gas, and so on. The use of solar power will have an immediate, measurable impact on the environment and provide a good Return on Investment (ROI).

 

Social insights

 

Solar energy generation companies have emphasized various social aspects such as turnover rate, health & safety, diversity, enterprise & employee/customer communications through surveys, and human rights alignment. These areas are essentially the foundation of a company’s social pillar. Our research found that ESG disclosure around social pillars has not been significant, and it has scope for improvement. With respect to social disclosure, E.ON SE leads the way, followed by Duke Energy Corporation and Exelon Corporation.

 

Our assessment showed that all major companies within the sector have conducted comprehensive employee and customer satisfaction surveys. Surveys like these provide organizations with insights into areas that need improvement. The companies have ingrained proper human rights practices within their operations along with the supply chain, and their code of conduct is aligned with global human rights standards.

 

Governance insights

 

According to our research, the average industry governance score is 71%, which is the highest among all the ESG pillars. The governance pillar included information on female board members, independent directors, compensation linked to ESG parameters, and clawback policy, among others. The industry leaders scored well above 75% in the corporate governance pillar, with Exelon Corporation scoring the highest, followed by E.ON SE and Duke Energy Corporation.

 

The corporate governance structure becomes robust with more independent representation on the board. Our research showed that 100% of E.ON SE's directors were Independent directors, while Exelon Corporation had the lowest percentage of independent directors. An inclusive board structure demonstrates the company's commitment to diversity as well. Exelon Corporation had the highest percentage of females on its board at 33.33% followed by the others.

 

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Solid State Battery Industry ESG Thematic Report, 2022

  

 

 

The average ESG disclosure score for the solid state battery industry is between 60% and 70%. Our proprietary Environment, Social, & Corporate Governance (ESG) scoring framework analyzed 65 parameters across ESG, as represented in the methodology section of this document.

 

Toyota Motor Corporation, Solvay SA, and two more market leaders were part of our research. Three out of four companies we researched scored above the average industry score. However, one of the market leaders needs to focus more on ESG reporting and transparency as it scored well below 60%.

 

For More Details: https://astra.grandviewresearch.com/solid-state-battery-industry-esg-outlook

 

Environmental insights

Batteries play an important role in our lives, from providing the initial power needed to start engines of cars to act as a backup source of electricity in telecommunications, public transportation, and medical procedures. Improperly disposed batteries negatively affect human health and also contribute to water and air pollution, affecting the environment, as they contain strong corrosive acids & chemicals. A solid-state battery, as the name suggests, uses solid electrodes and a solid electrolyte instead of liquid or polymer gel electrolytes found in lithium-ion or lithium polymer batteries. They have many advantages over other battery types. Energy efficiency, compactness, lightweight, and higher running range are some of the key advantages compared to the current lithium-ion batteries. In addition, they also do not pose the risk of explosion or there is a lower risk of battery fire; hence, there is no need to have safety components, which saves more space.

 

Social insights

Social metrics are an assessment of the risks that a firm may face from both human capital and the community. The variables that are accounted for in this classification include how an organization manages its relations with its workers, financial investors, the communities in which it operates, and the political environment. Within this category, for the solid state battery industry, Samsung SDI has topped among its peers with a score of∼70%. They have a standardized Supplier Code of Conduct which has various rules and regulations inclusive of human rights and diversity. The company has also obtained ISO 45001 certification for Industrial Safety and Health Management System as compared to Toyota Motor Corporation, which has only eight global plants that have acquiredISO 45001 certifications.

 

Governance insights

The governance component within ESG evaluation measures factors involved in policy-making, such as board structure, distribution of rules & regulations along with details of the responsibilities among stakeholders, employees, suppliers, and top executives. As per Grand View Research’s ESG scoring model, Solvay SA ranks the highest in corporate governance among its competitors, with a score of ∼70%, functioning within the solid state battery industry. The organization has the highest number of independent directors (more than 70% of the board includes independent directors), while the female representation on the board is also seen to be highest with a score of 26.67%. Furthermore, Solvay SA also has a clawback policy in place, which enables it to reclaim Performance Share Units (PSU) for a period of 3 years from the date of the payment with regards to its executives.

With an increase in the cases of cyberattacks, Toyota Motor Corporation established the All Toyota Security Guidelines (ATSG), based on ISO 27001/27002; US National Institute of Standards and Technology (NIST) - Cybersecurity Framework; and Cybersecurity Management Guidelines by the Ministry of Economy, Trade, and Industry, which ensure information security through a multifaceted approach: through organization, human resources, technical security, physical security, and incident/accident response. The organization also has external and internal hotlines integrated into the “Speak up” Hotline, which allows anonymous reporting and is open to third parties, including family members of an interested party.

 

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Solar Inverter Industry ESG Thematic Report, 2022

 

 

 

The average ESG disclosure score for the solar inverter industry is between 60% and 70%. Our proprietary ESG scoring framework analyzed 65 parameters across the environment, social, and corporate governance, as represented in the methodology section of this document.

 

Siemens AG, Eaton Corporation, Delta Electronics, and three more market leaders were part of our research. Only half of the six companies we researched scored above the average industry score. However, the bottom-ranked among market leaders need to focus more on ESG reporting and transparency, as they scored very poorly on multiple aspects.

 

For more details: https://astra.grandviewresearch.com/solar-inverter-industry-esg-outlook

 

Environmental insights

 

The majority of the energy market is still held by conventional sources like natural gas, oil, coal, or nuclear. However, with growing energy demand, the world is increasingly adopting renewable energy sources that are sustainable. PV inverter plays the crucial role of inverting the current collected by the solar panels (Direct Current [DC]) to the energy that can be used inside our homes (AC). Hence, it is an inevitable part of the solar power generation system. Although pollution during the operational lifecycle of a photovoltaic system is minimal, the environmental impacts during manufacturing and disposal cannot be ignored.

 

The major players in the photovoltaic inverter industry have revised their environmental commitments and improved transparency. This is evident from their efforts to reduce carbon emissions, promoting ISO 14001 certifications and TCFD mechanisms. There are new programs being implemented by these companies to achieve their emissions targets, increase water efficiency, and reduce waste. Some of these companies have committees exclusively to monitor how the company is performing on the sustainability front. In Delta Electronics Inc, the ESG committee is chaired by Chief Sustainability Officer. In OMRON Corporation, the sustainability committee is overseen by the Board of Directors. At Eaton Corporation Plc, the sustainability executive council comprises Chairman and Chief Operating Officer. Among companies within the sector, Delta, OMRON, and Eaton rank highest on environmental parameters with a score above 80%.

 

Social insights

 

Social metrics assess risks that a firm may face from both human capital and the community. The parameters used for assessment include, but are not limited to, turnover rate, injury rate, employee engagement programs, training & development, health & safety certifications, and community development. On the basis of the above parameters, companies have been ranked, and Delta Electronics secured the top rank in overall social performance with a score of little less than 80%, followed by Siemens AG and ABB.

 

Governance insights

 

One of the most significant foundation stones of a firm is its governance, which encompasses a variety of criteria such as corporate ethics, board structure, financial transparency, and anti-corruption, among others. After the assessment of governance among major companies in the solar inverter industry, Siemens fetched the top rank with an above 90% score. Other top performers were Eaton Corporation and Emerson Electric. The Siemens Integrity Initiative, which combats corruption and fraud via collective action, education, & training, adheres to the highest compliance and anti-corruption standards as well as promotes integrity. Siemen’s executive pay includes performance criteria related to sustainability metrics.

 

Country-level insights

 

The demand for energy is increasing every year, which is driving the need for various renewables, such as solar energy. The increasing need for a steady power supply in harsh climatic conditions or remote locations has led to the enhanced deployment of off-grid solar PV systems, thereby propelling the PV inverter product demand. In addition, favorable government policies and initiatives regarding clean fuel usage are expected to further amplify PV Inverter industry growth. The following section looks into various initiatives around the globe with regard to promoting the solar PV market.

 

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Hydrogen Generation Industry ESG Thematic Report, 2022

  

 

The average ESG disclosure score for the hydrogen generation market stands between 40% and 50%. This conclusion is based on the analysis of more than 60 Environment, Social, & Corporate Governance (ESG) parameters within our ESG scoring framework. Alongside Linde PLC and Indian Oil Corporation, six other market leaders were part of our research. This research identified that only four companies, including Indian Oil Corporation and Linde PLC, scored above the average industry score while the four other leading companies are required to improve their ESG transparency & reporting, as they scored well below 40%. Our research found that majority of the ESG disclosures have been made around the governance metric, with Linde PLC being a leader in this sector when compared to other companies, such as Bloom Energy Corp & Air Liquide, from an overall ESG disclosure point of view.

 

For More Details: https://astra.grandviewresearch.com/hydrogen-generation-industry-esg-outlook

 

Environmental insights

Since 1975, there has been a threefold increase in demand for hydrogen. However, its production poses significant consequences for the environment, as it is almost entirely derived from fossil fuels and around 800 million tons of CO2 equivalent emissions are released annually in hydrogen production. The enormity of hydrogen production is such that around 6% of natural gas produced globally goes into producing hydrogen.

 

Social insights

Within the social component of ESG, improvements around the value chain of a firm, increase in employee engagement & retention, and the method of promoting business continuity are mainly measured. Around seven out of eight companies, i.e., 87.5% of the companies in the industry, have a Human Rights Policy integrated in their supply chain. However, barring some industry leaders, such as Linde PLC and Indian Oil Corporation, none of the other companies have a supplier code of conduct. This outlines opportunities for improvement in terms of value chain operations among other competitors in the industry. Few companies like Bloom Energy Corporation, despite having lower social score, have a publicly available business partner/supply chain policy and furthermore conduct supply chain audits. Similarly, other companies require audits in place to follow due diligence regarding supplier code of conduct.

 

Governance insights

Financial outperformance is long discussed to have a strong relationship with ESG metrics; however, the governance factor is identified to have a more substantial impact on this factor (financial outperformance), based on empirical evidence. Governance metrics affecting valuation of corporate businesses are corporate governance, code of business conduct, risk & crisis management, tax strategy, supply chain management, and policy influence & materiality.

The industry leaders in social benchmarking are Air Products and Chemicals Inc., with around 80% governance score, followed by Air Liquide, which has a score well above 70%. However, in terms of female representation, Air Liquide has the highest proportion of female on board, at more than 50%, which is higher than the industry leaders Air Products and Chemicals Inc.

 

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