Emerging Economies Fuel Growth in the World Chemical Industry, According to a New Report Published by Global Industry Analysts, Inc.
China, over the years, has emerged into the forefront of the industry with demand for fine and specialty chemicals posting healthy growth, as a result of strong economic growth and industrialization. Together with China, other developing economies in Eastern Europe, Latin America, and South East Asia are expected to drive growth in the world chemical industry in the upcoming years.
San Jose, California (PRWEB) January 19, 2009
Chemical industry worldwide is a mature industry characterized by regional pockets of growth, intensifying competition, fluctuating feedstock prices, overcapacity, poor margins, diverse end use sectors, tightening regulations and intense pressure to contain environmental damage. The industry has been witnessing a steady shift in production towards specialty chemicals and away from basic chemicals. Aggressive price competition from emerging economies is driving the switch to value-added products, specialty, and life science chemicals. In the developed markets, manufacturers, in a bid to remain competitive, are focusing on strengthening technical expertise in product development and innovation to meet increasingly complex requirements of end-use markets, such as, biotechnology, advanced materials and electronics. In developing markets, on the other hand, the focus continues to be pinned onto the production of basic low-end products.
Technological developments are poised to play a key role in bringing about significant changes in sectors such as specialty chemicals, and agrochemicals. In addition, chemical trade at global levels is outpacing chemical production. Regions with economical raw material/feedstock bounties and growing markets are becoming the centers of production, thanks to globalization. China has emerged as a key location for production facilities from where products are exported globally. In the chemical industry (http://www. strategyr. com/Chemicals_Industry_Market_Report. asp) raw material costs are a critical factor accounting for about 30%-60% of turnover. Feedstock -- natural gas or crude -- leave the industry open to be influenced by the vagaries of oil and gas prices and supply. It is therefore of little surprise that the focus of international chemical production is witnessing a marked shift towards low-cost developing economies. With emerging economies of China and South East Asia offering more competitive benefits in terms of price and costs, several European and US companies are increasingly setting up production bases in these countries.
The report titled "Chemicals: A Global Outlook" provides a collection of statistical anecdotes, market briefs, and concise summaries of research findings. The report offers an aerial view of the world chemical industry, and identifies major trends, issues, challenges and growth drivers. Market discussions in the report are punctuated with 197 fact-rich market data tables. Regional markets elaborated upon include United States, Canada, Japan, France, Germany, Spain, UK, China, India, Indonesia, Brazil, Argentina, Mexico, and Middle East, among others. Also included is an indexed, easy-to-refer, fact-finder directory listing the addresses, and contact details of 2165 companies worldwide.
For more details about this research report, please visit
Http://www. strategyr. com/Chemicals_Industry_Market_Report. asp (http://www. strategyr. com/Chemicals_Industry_Market_Report. asp).
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) (http://www. strategyr. com/) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world's largest market research publishers. The company employs more than 700 people worldwide and publishes more than 880 full-scale research reports each year. Additionally, the company also offers a range of more than 60,000 smaller research products including company reports, market trend reports and industry reports encompassing all major industries worldwide.
Global Industry Analysts, Inc.
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