August 13, 2018 – MC Industrial Chemical Co. Ltd. (Thailand), a trusted importer and distributor of basic chemicals, industrial solvents, textiles, and plastics announced that it is looking for partners for the future growth, supplying the building blocks for Asia’s growing industries. The company is seeking partners with strong raw materials capabilities that can further enhance its portfolio and expand the business operations.
The basic chemicals market is accruing rapidly across the globe, mainly due to the huge demand from various major end-use industries such as transportation, agriculture, packaging, textile, electrical & electronic, pharmaceutical, and paints & coatings worldwide. The market witness upsurge in demand over the past few years, owing to the increasing uptake of these chemicals.Besides, the growing packaging industry with the surging demand for packaged beverages and food products due to convenience and improved product shelf life provides impetus to the market growth. Resultantly, the basic chemicals market is growing pervasively on the global platform.
Some of the key players operating in the global basic chemicals market are BASF SE (Germany), DowDuPont (U.S.), Exxon Mobil Corporation (U.S.), China Petroleum & Chemical Corporation (China), SABIC (Saudi Arabia), LyondellBasell Industries Holdings B.V. (The Netherlands), INEOS (Switzerland), Formosa Plastics Corporation (U.S.), Mitsubishi Chemical Corporation (Japan), Royal Dutch Shell (The Netherlands), LG Chem (South Korea), BDC Group (U.S.), and Celanese Corporation (U.S.).
Globally, the Asia-Pacific’s chemical industry is the most diverse with more than 70,000 modern products such as plastics, particleboards, pharmaceuticals, and paints & coatings.
Simultaneously, the presence of large petrochemical manufacturers in India and China impacts the market growth positively. Furthermore, the surging demand for chemicals from some of the burgeoning industries such as automotive, and agriculture, among others are fostering the market growth.
Europe is emerging as one of the promising markets for basic chemicals with expanding packaging industry. Owing to the growing production of PET bottles and packaged beverages & food products, the region is likely to observe a significant growth during the review period. The automobile industry majorly pulls the demand for these chemicals in the region for making interiors of luxury cars.
The MEA (the Middle East & Africa) region is another substantial market in the global basic chemicals market. The market in the MEA region is projected to grow at a considerable CAGR owing to the availability of feedstock and the high investment potential. Besides, the growing demand for basic chemicals from the prominent end-use industries such as packaging, automotive, and petrochemicals fuels the market growth in the region.
Basic Chemicals Market Table Of Contents to be Continue……,
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