Global Chemicals Market Forecast, Share and Size Analysis chemical

CHEMICAL INDUSTRY The chemical industry is one of the largest manufacturing industries in all developed and emerging countries. It acts as a keystone in development of consumer-specific products from existing resources. Majorly chemical industry is responsible for development of consumer specific, industry specific and intermediate chemicals. Major segments of this industry include base chemicals, specialty chemicals, pharmaceuticals, agrochemicals and biotechnology. Chemicals are requisite to produce a myriad range of manufactured products. Chemicals may exist in different forms in nature and their properties may change due to dynamic environmental conditions. Chemical sector is trying to develop new and efficient technologies to achieve maximum growth and potential. According to experts, the bio-based chemical market is going to grow at a fast pace soon. As per the US Department of Agriculture, the bio-based chemical domestic market share will touch the 22 per cent mark by the year 2025. The global specialty chemicals market size was estimated at USD 1.16 trillion in 2016 and is projected to grow at a CAGR of 5.6% from 2017 to 2025. Major Industry Challenges: Constraint on feedstock with respect to availability, quality and cost and cost of resources, demand of eco-friendly conversion methods, energy conservation, waste minimization, need of efficient treatment, reduction in discovery and process development cycle time, ever increasing demand for niche products at affordable prices and process improvements are few major challenges currently faced by chemical industry. Major Industry Players: BASF, Bayer, Sinopec, Dow Chemical Company, El de Pont de Numours, Fluor, Itochu, Nova Chemicals, Ashland Inc., Lyondell Industries, Degussa Advanced Nanomaterials and Air Products and Chemicals, INEOS, SABIC, Du Pont, Mitsubishi Chemical, Sumitomo Chemical, Shell and Sinopec are few major global players of chemical industry. About us: IngeniousReports provides you the one-stop solution platform for all your market research pain areas. We partner with leading publishers of Market Intelligence and Technology Intelligence reports worldwide. We provide market research reports to all the industries, individuals and organizations with an objective of assisting them in taking the strategic business decision and grow their revenues. Connect with us at: [phone] [email protected] http://www.ingeniousreports.com/industry/chemicals-market-research