Market Analysis - Chemistry Education 2020
Chemical industry is a part of heavy industry sector. Chemicals are a broad chemical category including polymers, bulk petrochemicals and intermediates, other derivatives and basis industries and more. Adhesives & Sealants, paints, petrochemicals, plastics, specialty chemicals, substances all of these can be grouped in this category.
The Membranes Market is expected to grow from USD 5.4 billion in 2019 to USD 8.3 billion by 2024, at a CAGR of 9.0% during the forecast period. DuPont (US), Toray (Japan), Hydranautics (US), Koch Separation Solutions (US), and Pentair (UK) are some of the leading players with a substantial market share. New product launch, agreement & collaboration, investment & expansion, and merger & acquisition were the major growth strategies adopted by the market players between 2017 and 2020 to enhance their regional presence and meet the growing demand for membranes in the emerging economies.
Chemical production in the European Union is expected to barely grow faster than in 2016. In general, the increase in production will remain modest against the backdrop of a sluggish domestic market. We expect competitive pressure on export markets to remain intense, even though the naphtha-based European chemical industry benefits more from low oil prices than the gas-based production in the United States. Including non-EU countries, total European chemicals sales reached €615 billion in 2015, or 17.4 per cent of world output. In 2030 chemical production reach €6.3 trillion.
In 2015 Norway’s chemical, oil refining and pharmaceutical industry had sales of NOK 137.2 billion (€14.5 billion), of which NOK85.4 billion were exports (62.2%). The sector employed 14,000 full-time equivalents, and generated NOK 33 billion (€3.4 billion) of added value. Official statistics treat chemicals, oil refining and pharma as a single industry.