Chemical companies are increasingly adopting sustainable and ecofriendly processes to eliminate negative impact of chemical manufacturing on the environment. Elevance Renewable Sciences, a specialty chemicals company, is using green technology, methasis, to produce high concentrated detergents that reduced energy consumption significantly, thus minimizing the impact on the environment.
Asia was the largest region in the chemicals market in 2016, accounting for approximately 60% market share. China and India are the fast-growing chemicals markets in this region. China accounts for more than half of Asia's chemicals sales. Other than China and India, Japan and Singapore are the important markets in Asia. The growth of the Asian economies, the lower cost of labor and the concentration of manufacturing industries in these countries are the key reasons for their dominance in the global market. The Americas was the second largest region accounting for 20% market share. Europe was the third largest region accounting for 19% market share.
- Markets Covered: Petrochemicals, plastics materials and resin and general chemicals products.
- Time series: Five years historic and forecast.
- Data: Market value in $ billions.
- Data segmentations: Regional breakdowns, market share of competitors, key sub segments.
- Dow Chemical
- Saudi Basic Industries Corporation
- Exxon Mobil
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