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Chemicals & Materials Market

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Chemicals & Materials Market report categorizes global market by end user, geography and other such industry segments - Industry Trends, Outlook, Regulatory Bodies & Regulations and Key Market Players
Chemicals & Materials Market - Industry
Trends, Outlook, Regulatory Bodies &
Regulations and Key Market Players
The industry of chemicals & materials forms the basis of various industries such as
construction, transportation, food and beverages, pharmaceuticals, electronics,
healthcare, utilities, and oil & gas. The market consists of a number of components and
sub components within its large portfolio. A chemical compound is a distinct substance
or compound that is artificially manufactured or purified, whereas a material is a
compound from which other complex materials are made. Chemicals, organic and
inorganic in nature, form the building blocks of different kinds of materials. Widely used
materials include ceramics, adhesives, metals, composites, polymers, and glasses. .
Chemicals and materials, independently or in combination with each other find a wide
range of application across various end-use industries such as automotive, power &
energy, agriculture, food & beverages, instrumentation, consumer goods, aerospace &
defense, healthcare, and IT. The global chemicals and materials market has wide range
of application areas such as dental silica, flow aids, crop protection, animal nutrition,
active pharmaceutical ingredients, dietary supplements, preservatives, flame retardants,
surface ingredients, and matting agents among others.
Asia Pacific is expected to retain its dominant position in the chemicals & materials
market over the forecast period (2016 – 2024), spearheaded by China, India, and Japan
due to rampant growth of end-use industries.
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Chemicals & Materials Market Outlook – Surge in Electronics and Construction
Chemicals Industries Augmenting Market Growth
Increasing demand for electronic devices across the globe, especially in key regions
such as North America, Asia Pacific and the Middle East, is driving demand for
electronic chemicals. Electronic chemicals such as PCB laminate, silicon wafer,
specialty gases, and wet chemicals are widely used in a wide number of electronic
applications such as computers, electronic circuit, diodes, capacitors, home appliances,
and entertainment systems. Asia Pacific contributes the largest share in electronics
market, which is the largest end-user segment for electronic chemicals. Countries in
the region that boost market growth include China, Japan, Taiwan, South Korea, and
India. However, the markets in North America and Europe are expected to witness
slower growth rate over the forecast period.
Construction chemicals are chemicals used to enhance the quality of the structure by
providing resistance against dry heat and wet climate, and protection against fire.
Population explosion in countries such as India and China, along with rapid economic
growth in these countries, has fueled demand for infrastructure and construction, in turn
increasing the number of infrastructural development activities. This, in turn, creates a
highly conducive environment for growth of the chemicals and materials market..
Growing urbanization, lends demand for construction chemicals such as concrete
admixtures, adhesives, and sealants, in turn, fueling growth of the chemicals and
materials market. North America and Europe markets are expected to witness moderate
growth rate, due to stagnant economy of the developed countries. However, the market
in the Middle East is expected to witness significant growth due to high investment in
infrastructure development and abundant raw materials reserves within the region.
Chemicals & Materials Market Challenges – Reduce Environmental Impact
Effective and eco-friendly mode of waste disposal, adopted by various regions, act as a
key challenge for chemicals & materials manufacturing companies. Stringent laws are
enforced on the disposal, only after treatment of all wastewater, gases, and semi-solid
waste. The Ministry of Environment and Forest (MoEF) of India, on December 23, 2010,
implemented water prevention and control pollution act 1974 and air prevention and
control pollution act 1981. These impose stringent regulatory framework for
manufacturers and end-users regarding production, import, export, and storage of
hazardous chemicals & materials. This significantly increases costs associated with
production, which in turn affects profitability of manufacturers in this highly competitive
market, in turn inhibiting market growth.
Key players in the chemicals & materials market include BASF-SE, The Dow Chemical
Company, Sinopec, SABIC, ExxonMobil, Formosa Plastics, LyondelBasell Industry,
DuPont, Ineos, Bayer, Mitsubishi Chemicals, Royal Dutch Shell, LG Chem Ltd.,
Braskem, Air liquid, AkzoNobel, The Linde Group, Sumitomo Chemicals, Mitsui
Chemicals, Evonik Industries. The chemicals & materials industry is highly fragmented,
with a large number of global players and regional players. In the recent past, the
market has witnessed a trend of consolidation through strategic mergers and
acquisitions. For instance, in March, 2017, the European Union approved the proposed
merger of Dow Chemical and DuPont as part of a US$ 62 billion deal. The companies
were subsequently segmented into three separate publicly traded companies, which
focus on agriculture, material science, and specialty chemicals, respectively.
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