Emerging Markets Key to Growth in Global Chemicals Industry
The global chemicals industry is expected to reach $5.5 trillion by 2015, according to a new report by Global Industry Analysts Inc. A mature industry with pockets of growth, the global chemical market is highly susceptible to changes in economic scenario, fluctuating feedstock prices, tightening regulations and intense pressure to contain environmental fallout. Though demand continues to fall across mature developed regions, rapid expansion in emerging markets such as China and India is likely to offset the trend. The industry faces challenges due to stringent carbon emission policies and regulations that are driving producers to shift away from petrochemical-based feedstock.