Chemicals and Advanced Materials Market Research Reports

The chemical industry is a versatile industry, generating revenues in trillions and registering strong growth in last five years, despite the economic slowdown. In the years to come, the consumption is expected to increase with a significant CAGR. Demand for chemicals is driven by rapid industrialization in emerging economies such as China and India. Asia-Pacific and the U.S. are expected to dominate the overall market in the coming years. Asia-Pacific accounted for nearly half of the overall revenue generated by the industry, followed by the Americas and Europe.

Factors favouring these regions are ease of availability of feedstock, low labor costs, and high level of government support. Europe has stringent regulations for manufacturers in this sector, to reduce the environmental emissions associated with the production of conventional chemicals. Companies in these regions are therefore focusing on the production and usage of bio-based and renewable chemicals, which have minimal environmental impact.

The chemical industry is a very diversified and complex industry, as there are thousands of reactions forming many intermediates which lead to the formation of a final product. It constitutes of inorganic chemicals, petrochemicals, polymers, fine and speciality chemicals, pharma chemicals, and consumer chemicals. A particular chemical may further yield a lot of derivatives such as methanol, leading to the production of formaldehyde, acetic acid, chloromethane, and methylmethacrylate, among several others. Ethylene yielding ethylene dichloride, ethylbenzene, low density polyethylene (LDPE), linear low density polyethylene (LLDPE), high density polyethylene (HDPE), and ethylene oxide, among several others. The renewable chemicals market is relatively niche market, being at the beginning of the technology curve.

The market witnessed technological advancement, along with increasing investments in R&D and collaborations among various players for sustainable developments. The factors hindering the growth of the renewable chemical market is the high price compared to the conventional polymers and associated performance issues. However, with increasing research and innovation, improvement is expected in the near future. Micro Market Monitor through its expert team of analyst has been successful in tracking these chemicals performing in-depth research to most granular level.