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Asia will continue to lead the growth of the specialty chemicals market

  • Categories:Industry News
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  • Time of issue:2020-04-22 18:17
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Asia will continue to lead the growth of the specialty chemicals market

(Summary description)According to reports, Mishan Masahiro, senior director of IHS Chemicals ’Japan business, reported at the 2013 Asian Petrochemical Industry Conference that food-grade potassium chloride had global chemical sales of US $ 3.3 trillion in 2012 and specialty chemicals of US $ 498 billion, accounting The ratio reached 15%, and it is expected that the global specialty chemicals market will continue to grow at a rate of 3.7% / year in the next five years. Asia has become the world ’s largest consumer of specialty chemicals, with China accounting for 19% of the world ’s largest specialty chemicals market, followed by Japan with 12% and other Asian countries with 13%. North America accounts for 25% of the global market and Western Europe accounts for 21%. Since the growth rate of specialty chemicals in two mature markets in North America and Western Europe is much lower than that in Asia, Asia will continue to maintain the world's largest consumer of specialty chemicals in the future. Food grade potassium chloride

  • Categories:Industry News
  • Author:
  • Origin:
  • Time of issue:2020-04-22 18:17
  • Views:0
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According to reports, Mishan Masahiro, senior director of IHS Chemicals ’Japan business, reported at the 2013 Asian Petrochemical Industry Conference that food-grade potassium chloride had global chemical sales of US $ 3.3 trillion in 2012 and specialty chemicals of US $ 498 billion, accounting The ratio reached 15%, and it is expected that the global specialty chemicals market will continue to grow at a rate of 3.7% / year in the next five years. Asia has become the world ’s largest consumer of specialty chemicals, with China accounting for 19% of the world ’s largest specialty chemicals market, followed by Japan with 12% and other Asian countries with 13%. North America accounts for 25% of the global market and Western Europe accounts for 21%. Since the growth rate of specialty chemicals in two mature markets in North America and Western Europe is much lower than that in Asia, Asia will continue to maintain the world's largest consumer of specialty chemicals in the future. Food grade potassium chloride
 
According to forecasts, the average annual growth rate of China's specialty chemicals demand in 2012-17 is expected to be 8.4%, the average annual growth rate of other Asian countries is 4.7%; the growth rate of Central and South America is predicted to be 3.7% / year, and the growth rate of the Middle East and Africa is 3.6 %/year. The growth rate of North America is expected to be 2.3% / year, Western Europe is 1.2% / year, and Japan is 1.1% / year. Food grade potassium chloride special chemicals mainly refer to construction and water treatment chemicals, catalysts, special polymers, food additives, flavors and fragrances, etc., which are very complicated. Demand for the top 10 specialty chemicals accounts for about 58% of the total specialty chemicals market, and no single product has a market share of more than 8%. Demand for specialty chemicals includes economic development and regulations; including smartphones and tablets New products such as computers and e-books and new technologies of hydraulic fracturing, etc.
 
 
 
The market value of food grade potassium chloride in China's specialty chemicals is estimated at 920 billion US dollars. Due to the particularly rapid growth of China's construction chemicals, specialty polymers and catalysts, it is expected that by 2017 China's specialty chemicals market will reach the level of North America. In addition, China has become a major producer of specialty chemicals and will continue to maintain its status as a major importer of specialty chemicals in the next five years. It is predicted that despite the continuous increase in production costs and the generalization of some products, the specialty chemicals industry will continue to maintain high profits and the market demand potential is still huge, but we must increase R & D and continue to launch new products to win the market.

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