0.4% Industrial Production. In 2020, the total trade value of exported chemical manufacturing products was $198.7 billion, a 4.8-percent decrease from 2019. Trends in the Chemical Industry Global growth in the chemical industry was 6.1% in 2021, almost as high as growth for the industry as a whole, despite only a minimal decline in chemical production in the previous year unlike in many other industries. While the challenges of last year are not yet behind us, there is sound evidence supporting the need for the chemical industry to keep a focus on these five areas that will emerge as critical in 2021 and beyond: 1. Chemical industry inventories are increasing, but remain down from pre-pandemic levels. Specifically, the rise of digital technologies in the chemicals industry includes big data technologies, cybersecurity, data science and analytics, machine learning, AI . Exports should rise 7.3% in 2022 to $162 billion and imports should grow 6.3% to $135 billion, resulting in a trade surplus of $27 billion. Three trends that may change the future According to the 17 sustainable development goals of the "2030 Sustainable Development Policy" proposed by the United Nations, the twelfth . The industry as a whole is developing and the in-depth Materials and Chemicals Industry Market Research holds facts for that. High Performance Chemicals Market Growth 2022 Industry Share, Segmentation, Business Size with Forthcoming Developments, Revenue, Global Trends, Top Players Strategies and Forecast to 2028 . The chemical and advanced materials industry has been shaped by long-term, stable trends, like its pattern of feedstocks, the evolutionary perfection of technologies, the incremental capacity investments that shift the industry's centre of gravity to new regions and balance economic cycles. One of the biggest movements in the chemical industry is the shift in customer objectives. The growing need for process efficiency is driving the adoption of technologies such as IoT (Internet of Things) sensors for both production processes and end product performance. Meanwhile, growth in Europe is expected to be moderate at just 1 percent. Learn more in this overview of current trends. The Chemical Industry is among the largest industries of the world, which is worth a few trillion dollars with millions employed in the industry. A renewed focus on sustainability. The chemical industry is inextricably linked with people's lives, be it drugs/medicines, cleaning agents, thermoplastic furniture or synthetic garme. by American Chemistry Council. Digital intelligence on the path to the future Digitalization or, more explicitly, the Industry 4.0 has been the main development trend in the chemical industry. Industry revenue of "manufacture of chemicals and chemical products" in the United Kingdom 2012-2025 Industry revenue of "manufacture of other chemical products n.e.c." in the United . The global specialty chemicals market size was valued at USD 586.5 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 4.3% from 2020 to 2028. The three macrotrends I selected for today's discussion are the impact of high-throughput research, global organizations, and market-driven research on the . Experts predict high demand for lithium, a key input for ion battery manufacturing, through 2026. The gross operating surplus for American chemical manufacturing in 2017 was $271.1 billion. Expanded digitalization The pandemic raised everyone's awareness of the fundamental importance of technology. Current Trends. from January 2020, should trigger a rise in chemical tanker freight costs, which will in turn likely cause an upward adjustment of chemicals prices. (Statista) #2. 0.7% Retail Sales. The chemicals industry is as broad as ever before There are a wide variety of products that are classified as chemical products, which can be categorized into the following segments: basic . Chemical businesses must adapt to these changes to overcome the challenges of the modern world and move forward in the competitive environment. Material technologies. Chemical Industry 2022. In addition to the digitalization of the chemicals industry, other major trends expected to gain traction in the coming years include changes in business models, more mergers and acquisitions, and China's continued emergence. The total value of chemical shipments from American providers in the chemical industry was $812.4 billion in 2017. Incorporating the latest innovations . By 2025, U.S. exports should reach $182 billion. That figure includes over $378 billion in value added by the manufacturing process. Essential Chemical Industry Statistics #1. Global chemical industry - key trends for success in today's New Normal. Meanwhile, global chemicals production is expected to increase by 2% in 2020, compared to 1.2% in 2019;1of course, this expectation is likely to change given the unfolding global recession. 4.2 Key Industry Trends 5 Global Chemical Logistics Market 5.1 Market Overview 5.2 Market Performance 5.3 Impact of COVID-19 5.4 Market Forecast 6 Market Breakup by Type 6.1 Rail 6.2 Road 6.3 . COVID-19 has added even more complexity, causing significant shifts in supply and demand. The feedstock-advantaged basic chemicals segment accounted for the majority of the American chemical industry's trade surplus last year and will through 2025. Upcoming Chemical Industry Trends Internet of Things (IoT) Solutions The chemical industry is rapidly changing and developing due to an increase in digitalization within businesses around the globe. Understand the impact of the crisis on your market. . These trends help frame the importance of the chemical sciences in society and the comparative strength of U.S.-based chemical science innovation, as well as the opportunity in front of us. The ongoing adoption of technological developments is a feature of the chemicals industry that can be seen in every segment and creates both opportunities and risks. Get up to speed on any industry with comprehensive intelligence that is easy to read. 1. Although some of these evolving trends do not meaningfully affect demand, social perception of chemical products and consumer preferences could pose important long-term risks to companies. The chemical industry faces two major challenges in this trend of sustainability: the first is how to reduce resource consumption; the second is how to reduce or even eliminate the harm to the environment. Recent chemical industry trends, such as digital supply chain, vertical and horizontal integration with . Free subscription or Business subscription? Moreover, contracting agricultural land and the loss of crops, owing to the incidence of pests and diseases, are the significant . Recently, ACC recently reported that global chemical production increased for 6 months in a row, with overall net 2.2% decline versus 2019, which is a good lead-in to 2021. And even if the European chemical industry rebounds in 2021, it won't be to prepandemic conditions but rather to a new kind of environment shaped by the megatrends of an aging population and the . Increased innovation and R&D in specialty chemicals along with galloping demand for high-performance and function-specific chemicals are going to drive the growth Chemical industry inventories are increasing, but remain down from pre-pandemic levels. According to the reports published by Next Move Strategy Consulting, the Global Chemical Distribution Market size was estimated to be USD 228.33 billion in 2019 and is predicted to reach USD 374.47 billion by 2030 with a CAGR of 4.6% from 2020-2030. The Chemical Industry is among the largest industries of the world, which is worth a few trillion dollars with millions employed in the industry. This risk of recession, pessimism about growth in China and slumping end markets are creating an era of uncertainty. chemicals industry The overall picture for the global chemicals industry since the 2009 financial crisis has largely been one of growth. The industry converts these materials into organic and inorganic industrial chemicals, ceramic products, petrochemicals . Chemical industry is a part of heavy industry sector. Deloitte's 2021 Chemical Industry Outlook opines that US chemical companies will have to initiate strategic initiatives in areas like R&D, new business models, and technology to drive growth and weather on-going economic, social, environmental, and political turbulence. The chemical industry is the best leading indicator for the global economy. Specialty chemicals will expand by 3.8% in 2021 and 4.1% in 2022 after falling 10.8% in 2020. Above-average growth expected in the chemical industry; Global chemical production (excluding pharmaceuticals) is expected to grow by 4.4% (2020: -0.4%) in 2021, which is above average for the years prior to the coronavirus pandemic.This growth should be seen predominantly in emerging markets (2021: +5.4%; 2020: +1.8%).In advanced economies, we anticipate a growth rate of 2.5% (2020: -4.2% . Chemicals are a broad chemical category including polymers, bulk petrochemicals and intermediates, other derivatives and basis industries and more. Texas ranked first in the United States in 2020 for export chemical manufacturing with $40.1 billion in export trade value. Employers must be willing to open their search - and the costs associated - toward candidates in multiple geographic locations. Digitalization. Global chemical industry - key trends for success in today's New Normal. An overview of Chemical Manufacturing price indexes. Chemical industry capital spending will be up 11.9% to $30.6 billion in 2021 and rise 3.1% in 2022 after falling 17.6% in 2020. Industry Trends Chemicals trends 2019: Transformation and sustainability might be the new watchwords Industries Aerospace and defense Automotive Chemicals Consumer markets Entertainment and media Financial services Health Industrials Metals and mining Oil and gas Power and utilities Public sector Technology Telecommunications Transportation The global chemicals industry is facing a range of opportunities and challenges. Specialty Chemical Market 2020 Industry SWOT Analysis, Size, Share, Growth, Key Trends and Forecast To 2026 | Impacts of COVID-19 November 26th, 2020 MGI Releases From sustainability to consumer-centricity, our annual outlook explores five trends that will be top of mind for chemical companies in the year ahead. The U.S. Bureau of Labor Statistics produces these indexes, which are Principal . Chemical Industry Drivers Trend #1: Increasing competition from new participants, and increased M&A activities in North America - possibly . In this setting, we have used Linknovate tool to identify which ones are the emerging trends that will influence the following years of the industry and identified Nanotechnology, Blockchain, and 5G … Continued Specialty Chemicals Market Share 2021: Global Trends, Key Players, Industry Analysis Report to 2027 06-11-2021 02:09 PM CET | Industry, Real Estate & Construction Press release from: Orion Market . These five trends are at the forefront of the movement, helping to facilitate innovation and evolution within companies. events and trends in the refining and chemical competitive landscape. Enjoy rich and daily insights by updating business subscription: $10/month or $100/year /product. everybody and everything (Internet of Things is calling), big-scale M&As, and the move downstream toward special chemicals, are, in our opinion, short- "A critical aspect of dealing with this disruption in 2021 could be . According to OurWorldInData, the installed solar energy capacity of the world increased from 580.76 gigawatts (GW) in 2019 to 707.50 GW in 2020. Next, the chemical industry has benefited tremendously from China's economic growth of the past two decades. Our latest study of chemical industry trends helps chemical companies evaluate their current conditions, understand where they want to head in the future, and then make strategic changes to continue on the path to lasting success. It presents an examination of market factors, industry patterns, market elements, driving players, and their restrictions. Basic chemicals will expand by 0.5% in 2021 and 3.4% in 2022. According to the report "United States Silk-Screened Glass Market Report 2017" included by . Monday, April 18th 2022, 3:47 AM CDT. Ltd. announces the release of a market assessment report on the "Global Digital Chemical Industry Market Trends, Industry Competition Analysis, Revenue and Forecast Till . Search reports, statistics & slideshows on Chemical. The Chemicals Trends summary report provides a snapshot of the chemical industry performance in the 28 countries of the European Union and is based on data released by Eurostat. Chemical Industry Trends. chemical preservatives or other substances, could diminish demand for chemical products. Worldwide Agricultural Chemicals Professional Market 2022 has brief examination and full-scale suggestion of market fragment, size, share, sectional investigation, and income gauge. On Friday, I had the privilege of discussing a wide range of key issues with Ajaya Sharma in a lunchtime interview for India's main business station, ET Now. Digitalization, process optimization, modularization and sustainability are important trends that are also shaping the chemical industry. Although the chemicals industry contracted slightly during the pandemic recession, new opportunities are opening up, driven by shifts in customer demand and new technologies. January 23, 2022 Chemicals, Physical Vapor Deposition Industry, Physical Vapor Deposition Market, Physical Vapor Deposition Market Forecast, Physical Vapor Deposition Market Report No comments. The Chemical Industry is one the most diverse manufacturing industries and is concerned with the manufacture of a wide variety of solid, liquid, and gaseous materials. The chemical industry is the best leading indicator for the global economy. DUBLIN, March 24, 2022 /PRNewswire/ -- The "Specialty Chemicals Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026" report has been added to ResearchAndMarkets . This allowed West European and North American players to grow while their home markets were experiencing near stagnation. Interaction and business processes. The coatings industry, in particular, was hard-hit (ACC reports show almost 20% decrease in production versus 2019.) View Trends, Analysis and Statistics. Global petrochemical trends H1 2020. Value chains in the chemicals sector are being reconfigured as sustainability, economic and geopolitical shifts, new technologies and changing consumer demands are challenging companies' bottom line and future profitability. Projections have suggested this trend is continuing—driven largely by an ever-maturing Chinese market. Find industry analysis, statistics, trends, data and forecasts on Chemical Product Manufacturing in the US from IBISWorld. Rely on our Market Intelligence platform to get the . Growth: Volume growth for chemicals has been trending downward over the past 20 years, even before the onset of COVID-19. The top 6 exporting states made up close to 50 percent of this value. The global chemical distribution market size was valued at USD 247.1 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 5.4% from 2020 to 2028. The chemical industry needs to adopt a similar approach when reporting on investment in ESG-driven innovation. 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