Many chemical manufacturers are
adopting IoT (Internet of Things) technologies to connect equipment and smart
devices to garner real time insights and locate gaps in the manufacturing process.
The data obtained is processed, analyzed and interpreted by plant managers and
senior level management to improve quality and achieve optimum production
levels. For example, smart systems give information on the working condition
and performance of chemical reactors with embedded software and analytics tools
to notify plant operators and managers on possible machine breakdowns.
Asia Pacific was the largest
region in the chemicals manufacturing market in 2017, accounting for more than
one-third of the market share.
Read report: https://www.thebusinessresearchcompany.com/report/chemicals-by-end-use-global-market-report-2018
According to The Business Research Company’s
Consultant, Nitin Gianchandani, chemical companies are increasingly adopting
sustainable and ecofriendly processes to eliminate negative impact of chemical
manufacturing on the environment. Evolution in technology and chemical sciences
enabled chemical companies to utilize alternative fuels to produce chemical
products. They are using naturally available carbon dioxide to produce fuels,
industrial products and other substances. For instance, 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.
China Petroleum And Chemical
Corporation (Sinopec) was the largest player
in the chemicals by end use market with
revenues of $180 million in 2016. China Petroleum And Chemical Corporation’s
strategy aims at balancing profits and volume, with the priority on profits.
The chemicals industry is one of the largest manufacturing industries in
the world. It manufactures a variety of chemicals products by processing raw
materials such as air, water, natural gas, oil, metals and minerals. While many
of the products from the industry, such as detergents, soaps and perfumes, are
purchased directly by the consumer, 70% of chemicals manufactured are used by
other industries Including other branches of the chemicals industry itself, to
make products.
Chemicals By End Use Global Market
Report 2018 is a detailed report giving a unique insight into this market. The
report is priced at $6000 for an individual user. To use across your office,
the price is $9000 and $12000 if you wish to use across a multinational
company.
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