The 2011 Report on Manufacturing Chemicals Using Thermal Cracking, and Distillation, and Other Basic Processes: World Market Segmentation by City
ICON Group International, January 2011, Pages: 363
Market Potential Estimation Methodology
Overview
This study covers the world outlook for manufacturing chemicals using thermal cracking, and distillation, and other basic processes across more than 2000 cities. For the year reported, estimates are given for the latent demand, or potential industry earnings (P.I.E.), for the city in question (in millions of U.S. dollars), the percent share the city is of the region and of the globe. These comparative benchmarks allow the reader to quickly gauge a city vis-à-vis others. Using econometric models which project fundamental economic dynamics within each country and across countries, latent demand estimates are created. This report does not discuss the specific players in the market serving the latent demand, nor specific details at the product level. The study also does not consider short-term cyclicalities that might affect realized sales. The study, therefore, is strategic in nature, taking an aggregate and long-run view, irrespective of the players or products involved.
This study does not report actual sales data (which are simply unavailable, in a comparable or consistent manner in virtually all of the cities of the world). This study gives, however, my estimates for the worldwide latent demand, or the P.I.E. for manufacturing chemicals using thermal cracking, and distillation, and other basic processes. It also shows how the P.I.E. is divided across the world’s cities. In order to make these estimates, a multi-stage methodology was employed that is often taught in courses on international strategic planning at graduate schools of business.
What is Latent Demand and the P.I.E.?
The concept of latent demand is rather subtle. The term latent typically refers to something that is dormant, not observable, or not yet realized. Demand is the notion of an economic quantity that a target population or market requires under different assumptions of price, quality, and distribution, among other factors. Latent demand, therefore, is commonly defined by economists as the industry earnings of a market when that market becomes accessible and attractive to serve by competing firms. It is a measure, therefore, of potential industry earnings (P.I.E.) or total revenues (not profit) if a market is served in an efficient manner. It is typically expressed as the total revenues potentially extracted by firms. The “market” is defined at a given level in the value chain. There can be latent demand at the retail level, at the wholesale level, the manufacturing level, and the raw materials level (the P.I.E. of higher levels of the value chain being always smaller than the P.I.E. of levels at lower levels of the same value chain, assuming all levels maintain minimum profitability).
The latent demand for manufacturing chemicals using thermal cracking, and distillation, and other basic processes is not actual or historic sales. Nor is latent demand future sales. In fact, latent demand can be lower either lower or higher than actual sales if a market is inefficient (i.e., not representative of relatively competitive levels). Inefficiencies arise from a number of factors, including the lack of international openness, cultural barriers to consumption, regulations, and cartel-like behavior on the part of firms. In general, however, latent demand is typically larger than actual sales in a city market.
Another reason why sales do not equate to latent demand is exchange rates. In this report, all figures assume the long-run efficiency of currency markets. Figures, therefore, equate values based on purchasing power parities across countries. Short-run distortions in the value of the dollar, therefore, do not figure into the estimates. Purchasing power parity estimates of country income were collected from official sources, and extrapolated using standard econometric models. The report uses the dollar as the currency of comparison, but not as a measure of transaction volume. The units used in this report are: US $ mln.
For reasons discussed later, this report does not consider the notion of “unit quantities”, only total latent revenues (i.e., a calculation of price times quantity is never made, though one is implied). The units used in this report are U.S. dollars not adjusted for inflation (i.e., the figures incorporate inflationary trends) and not adjusted for future dynamics in exchange rates (i.e., the figures reflect average exchange rates over recent history). If inflation rates or exchange rates vary in a substantial way compared to recent experience, actually sales can also exceed latent demand (when expressed in U.S. dollars, not adjusted for inflation). On the other hand, latent demand can be typically higher than actual sales as there are often distribution inefficiencies that reduce actual sales below the level of latent demand.
As mentioned earlier, this study is strategic in nature, taking an aggregate and long-run view, irrespective of the players or products involved. If fact, all the current products or services on the market can cease to exist in their present form (i.e., at a brand-, R&D specification, or corporate-image level) and all the players can be replaced by other firms (i.e., via exits, entries, mergers, bankruptcies, etc.), and there will still be an international latent demand for manufacturing chemicals using thermal cracking, and distillation, and other basic processes at the aggregate level. Product and service offering details, and the actual identity of the players involved, while important for certain issues, are relatively unimportant for estimates of latent demand.
The Methodology
In order to estimate the latent demand for manufacturing chemicals using thermal cracking, and distillation, and other basic processes on a city-by-city basis, I used a multi-stage approach. Before applying the approach, one needs a basic theory from which such estimates are created. In this case, I heavily rely on the use of certain basic economic assumptions. In particular, there is an assumption governing the shape and type of aggregate latent demand functions. Latent demand functions relate the income of a country, city, state, household, or individual to realized consumption. Latent demand (often realized as consumption when an industry is efficient), at any level of the value chain, takes place if an equilibrium in realized. For firms to serve a market, they must perceive a latent demand and be able to serve that demand at a minimal return. The single most important variable determining consumption, assuming latent demand exists, is income (or other financial resources at higher levels of the value chain). Other factors that can pivot or shape demand curves include external or exogenous shocks (i.e., business cycles), and or changes in utility for the product in question.
Ignoring, for the moment, exogenous shocks and variations in utility across countries, the aggregate relation between income and consumption has been a central theme in economics. The figure below concisely summarizes one aspect of problem. In the 1930s, John Meynard Keynes conjectured that as incomes rise, the average propensity to consume would fall. The average propensity to consume is the level of consumption divided by the level of income, or the slope of the line from the origin to the consumption function. He estimated this relationship empirically and found it to be true in the short-run (mostly based on cross-sectional data). The higher the income, the lower the average propensity to consume. This type of consumption function is labeled "A" in the figure below (note the rather flat slope of the curve). In the 1940s, another macroeconomist, Simon Kuznets, estimated long-run consumption functions which indicated that the marginal propensity to consume was rather constant (using time series data across countries). This type of consumption function is show as "B" in the figure below (note the higher slope and zero-zero intercept). The average propensity to consume is constant.
Is it declining or is it constant? A number of other economists, notably Franco Modigliani and Milton Friedman, in the 1950s (and Irving Fisher earlier), explained why the two functions were different using various assumptions on intertemporal budget constraints, savings, and wealth. The shorter the time horizon, the more consumption can depend on wealth (earned in previous years) and business cycles. In the long-run, however, the propensity to consume is more constant. Similarly, in the long run, households, industries or countries with no income eventually have no consumption (wealth is depleted). While the debate surrounding beliefs about how income and consumption are related and interesting, in this study a very particular school of thought is adopted. In particular, we are considering the latent demand for manufacturing chemicals using thermal cracking, and distillation, and other basic processes across some 230 countries. The smallest have fewer than 10,000 inhabitants. I assume that all of these counties fall along a "long-run" aggregate consumption function. This long-run function applies despite some of these countries having wealth, current income dominates the latent demand for manufacturing chemicals using thermal cracking, and distillation, and other basic processes. So, latent demand in the long-run has a zero intercept. However, I allow firms to have different propensities to consume (including being on consumption functions with differing slopes, which can account for differences in industrial organization, and end-user preferences).
Given this overriding philosophy, I will now describe the methodology used to create the latent demand estimates for manufacturing chemicals using thermal cracking, and distillation, and other basic processes. Since ICON Group has asked me to apply this methodology to a large number of categories, the rather academic discussion below is general and can be applied to a wide variety of categories, not just manufacturing chemicals using thermal cracking, and distillation, and other basic processes.
Step 1. Product Definition and Data Collection
Any study of latent demand across countries requires that some standard be established to define “efficiently served”. Having implemented various alternatives and matched these with market outcomes, I have found that the optimal approach is to assume that certain key countries or cities are more likely to be at or near efficiency than others. These are given greater weight than others in the estimation of latent demand compared to others for which no known data are available. Of the many alternatives, I have found the assumption that the world’s highest aggregate income and highest income-per-capita markets reflect the best standards for “efficiency”. High aggregate income alone is not sufficient (i.e., China has high aggregate income, but low income per capita and can not assumed to be efficient). Aggregate income can be operationalized in a number of ways, including gross domestic product (for industrial categories), or total disposable income (for household categories; population times average income per capita, or number of households times average household income per capita). Brunei, Nauru, Kuwait, and Lichtenstein are examples of countries with high income per capita, but not assumed to be efficient, given low aggregate level of income (or gross domestic product); these countries have, however, high incomes per capita but may not benefit from the efficiencies derived from economies of scale associated with large economies. Only countries with high income per capita and large aggregate income are assumed efficient. This greatly restricts the pool of countries to those in the OECD (Organization for Economic Cooperation and Development), like the United States, or the United Kingdom (which were earlier than other large OECD economies to liberalize their markets).
The selection of countries is further reduced by the fact that not all countries in the OECD report industry revenues at the category level. Countries that typically have ample data at the aggregate level that meet the efficiency criteria include the United States, the United Kingdom and in some cases France and Germany.
Latent demand is therefore estimated using data collected for relatively efficient markets from independent data sources (e.g. Euromonitor, Mintel, Thomson Financial Services, the U.S. Industrial Outlook, the World Resources Institute, the Organization for Economic Cooperation and Development, various agencies from the United Nations, industry trade associations, the International Monetary Fund, and the World Bank). Depending on original data sources used, the definition of “manufacturing chemicals using thermal cracking, and distillation, and other basic processes” is established. In the case of this report, the data were reported at the aggregate level, with no further breakdown or definition. In other words, any potential product or service that might be incorporated within manufacturing chemicals using thermal cracking, and distillation, and other basic processes falls under this category. Public sources rarely report data at the disaggregated level in order to protect private information from individual firms that might dominate a specific product-market. These sources will therefore aggregate across components of a category and report only the aggregate to the public. While private data are certainly available, this report only relies on public data at the aggregate level without reliance on the summation of various category components. In other words, this report does not aggregate a number of components to arrive at the “whole”. Rather, it starts with the “whole”, and estimates the whole for all cities and the world at large (without needing to know the specific parts that went into the whole in the first place).
Given this caveat, this study covers “manufacturing chemicals using thermal cracking, and distillation, and other basic processes” as defined by the North American Industrial Classification system or NAICS (pronounced “nakes”). manufacturing chemicals using thermal cracking, and distillation, and other basic processes The NAICS code for manufacturing chemicals using thermal cracking, and distillation, and other basic processes is 3251. It is for this definition of manufacturing chemicals using thermal cracking, and distillation, and other basic processes that the aggregate latent demand estimates are derived. “Manufacturing chemicals using thermal cracking, and distillation, and other basic processes” is specifically defined as follows:
3251
This industry group comprises establishments primarily engaged in manufacturing chemicals using basic processes, such as thermal cracking and distillation. Chemicals manufactured in this industry group are usually separate chemical elements or separate chemically-defined compounds.
32511
This industry comprises establishments primarily engaged in (1) manufacturing acyclic (i.e., aliphatic) hydrocarbons such as ethylene, propylene, and butylene made from refined petroleum or liquid hydrocarbon and/or (2) manufacturing cyclic aromatic hydrocarbons such as benzene, toluene, styrene, xylene, ethyl benzene, and cumene made from refined petroleum or liquid hydrocarbons.
325110
This industry comprises establishments primarily engaged in (1) manufacturing acyclic (i.e., aliphatic) hydrocarbons such as ethylene, propylene, and butylene made from refined petroleum or liquid hydrocarbon and/or (2) manufacturing cyclic aromatic hydrocarbons such as benzene, toluene, styrene, xylene, ethyl benzene, and cumene made from refined petroleum or liquid hydrocarbons.
3251101
Aromatics (benzene, toluene, xylene, etc), not made in a refinery
32511011
Aromatics (benzene, toluene, xylene, etc.), made in petrochemical plants
3251101111
Aromatics (benzene, toluene, xylene, etc.), for use as a chemical raw material, made in petrochemical plants
3251101121
Aromatics (benzene, toluene, xylene, etc.), for other uses, made in petrochemical plants
3251104
Liquefied refinery gases (aliphatics), not made in a refinery
32511041
Liquefied refinery gases (aliphatics), made in petrochemical plants
3251104111
Liquefied refinery gases (aliphatics), for use as a chemical raw material, made in petrochemical plants
3251104121
Liquefied refinery gases (aliphatics), for other uses, made in petrochemical plants
325110MM
Miscellaneous receipts
325110P
Primary products
325110SM
Secondary products and miscellaneous receipts
325110SS
Secondary products
325118G061
Sodium bichromate and chromate (hydrous)
32512
This industry comprises establishments primarily engaged in manufacturing industrial organic and inorganic gases in compressed, liquid, and solid forms.
325120
This industry comprises establishments primarily engaged in manufacturing industrial organic and inorganic gases in compressed, liquid, and solid forms.
3251201
Acetylene
32512010
Acetylene
3251201000
Acetylene
3251201011
Acetylene, produced for compression, including cylinder and pipeline
3251201021
Acetylene, produced for pipeline shipment (excluding that shipped to be compressed) and for consumption in same plant
32512011
Acetylene
3251201100
Acetylene
3251201111
Acetylene, produced for compression, including cylinder and pipeline
3251201121
Acetylene, produced for pipeline shipment (excluding acetylene shipped to be compressed) and for consumption in same plant
3251204
Carbon dioxide
32512040
Carbon dioxide
3251204000
Carbon dioxide
3251204011
Carbon dioxide, gas, including amounts produced and liquefied
3251204021
Carbon dioxide, liquid, including amounts produced and used to make dry ice
3251204031
Carbon dioxide, solid (dry ice)
32512041
Carbon dioxide
3251204100
Carbon dioxide
3251204111
Carbon dioxide, gas (including amounts produced and liquefied)
3251204121
Carbon dioxide, liquid (including amounts produced and used to make dry ice)
3251204131
Carbon dioxide, solid (dry ice)
3251207
Nitrogen
32512070
Nitrogen
3251207000
Nitrogen
3251207011
Nitrogen, including lower purity, gas, produced by cryogenic onsite and pipeline
3251207021
Nitrogen, including lower purity, gas, produced by noncryogenic processes (psa, vpsa, membranes, etc.) by industrial gas producing companies
3251207031
Nitrogen, including lower purity, gas, produced for captive uses for consumption in same plant by cryogenic processes
3251207041
Nitrogen, including lower purity, gas, produced for captive uses for consumption in same plant by noncryogenic processes (psa, vpsa, membranes, etc.)
3251207051
Nitrogen, including lower purity, liquid, produced for merchant shipment
3251207061
Nitrogen, including lower purity, liquid, produced for consumption in same plant
3251207071
Nitrogen, including lower purity, liquid, produced for supplemental shipments or uses
32512071
Nitrogen
3251207100
Nitrogen
3251207111
Nitrogen (including lower purity), gas, produced by cryogenic onsite and pipeline (100 percent)
3251207121
Nitrogen (including lower purity), gas, produced by noncryogenic processes (PSA, VPSA, membranes, etc.) by industrial gas producing companies (100 percent)
3251207131
Nitrogen (including lower purity), gas, produced by captive uses for consumption in same plant by cryogenic processes (100 percent)
3251207141
Nitrogen (including lower purity), gas, produced for captive uses for consumption in same plant by noncryogenic processes (PSA, VPSA, membranes, etc.) (100 percent)
3251207151
Nitrogen (including lower purity), liquid, produced for merchant shipment (100 percent)
3251207161
Nitrogen (including lower purity), liquid, produced for consumption in same plant (100 percent)
3251207171
Nitrogen (including lower purity), liquid, produced for supplemental shipments or uses (100 percent)
325120A
Oxygen
325120A0
Oxygen
325120A000
Oxygen
325120A011
Oxygen, including lower purity, gas, produced by cryogenic onsite and pipeline
325120A021
Oxygen, including lower purity, gas, produced by noncryogenic processes (psa, vpsa, membranes, etc.) by industrial gas producing companies
325120A031
Oxygen, including lower purity, gas, produced for captive uses for consumption in same plant by cryogenic processes
325120A041
Oxygen, including lower purity, gas, produced for captive uses for consumption in same plant by noncryogenic processes (psa, vpsa, membranes,etc.)
325120A051
Oxygen, including lower purity, liquid, produced for merchant shipment
325120A061
Oxygen, including lower purity, liquid, produced for consumption in same plant
325120A071
Oxygen, including lower purity, liquid, produced for supplemental shipments or uses
325120A1
Oxygen
325120A100
Oxygen
325120A111
Oxygen (including lower purity), gas, produced by cryogenic on_site and pipeline (100 percent)
325120A121
Oxygen (including lower purity, gas), produced by noncryogenic processes (PSA, VPSA, membranes, etc.) by industrial gas producing companies (100 percent)
325120A131
Oxygen (including lower purity), gas, produced for captive uses for consumption in same plant by cryogenic processes (100 percent)
325120A141
Oxygen (including lower purity), gas, produced for captive uses for consumption in same plant by noncryogenic processes (PSA, VPSA, membranes,etc.) (100 percent)
325120A151
Oxygen (including lower purity), liquid, produced for merchant shipment (100 percent)
325120A161
Oxygen (including lower purity), liquid, produced for consumption in same plant (100 percent)
325120A171
Oxygen (including lower purity), liquid, produced for supplemental shipments or uses (100 percent)
325120C
ARGON AND HYDROGEN
325120C1
Argon and hydrogen
325120C100
Argon and hydrogen
325120D
Other industrial gases, including argon, hydrogen, helium, and carbon monoxide
325120D0
Other industrial gases, including argon, hydrogen, helium, and carbon monoxide
325120D000
Other industrial gases, including argon, hydrogen, helium, and carbon monoxide
325120D011
Argon, crude
325120D021
Argon, high purity, produced for cylinder, bulk delivery and pipeline shipments, and for consumption in same plant
325120D031
Hydrogen, including lower purity, gas, produced for merchant shipment
325120D041
Hydrogen, including lower purity, gas, produced for pipeline and onsite use
325120D051
Hydrogen, including lower purity, gas, produced for consumption in same plant
325120D061
Hydrogen, including lower purity, liquid, produced for merchant shipment
325120D071
Hydrogen, including lower purity, liquid, produced for supplemental shipments or uses
325120D081
Nitrous oxide
325120D091
Other elemental gases
325120D095
Other compressed and liquefied gases
325120G
FLUOROCARBON GASES
325120G1
Fluorocarbon gases
325120G100
Fluorocarbon gases
325120MM
Miscellaneous
325120P
Primary products
325120SM
Secondary products and miscellaneous receipts
325120SS
Secondary products
325120U
OTHER INDUSTRIAL GASES
325120U1
Other industrial gases
325120U100
Other industrial gases (including helium, nitrous oxide, elemental, and other compressed gases)
32513
This industry comprises establishments primarily engaged in manufacturing synthetic organic and inorganic dyes and pigments, such as lakes and toners (except electrostatic and photographic).
325131
This U.S. industry comprises establishments primarily engaged in manufacturing inorganic dyes and pigments.
3251311
Titanium dioxide
32513110
Titanium dioxide, composite and pure
3251311000
Titanium dioxide, composite and pure
32513111
Titanium dioxide, composite and pure
3251311100
Titanium dioxide, composite and pure
3251312
White opaque inorganic pigments
3251313
Chrome colors and other inorganic pigments
325131311
Chrome colors
325131331
Iron oxide pigments
325131399
All other inorganic pigments n.e.c.
3251314
OTHER WHITE OPAQUE PIGMENTS
32513141
Other white opaque pigments
3251314111
Zinc oxide pigments
3251314121
Titanium pigment preparations
3251314131
All other inorganic white opaque pigments
3251317
CHROME COLORS AND OTHER INORGANIC PIGMENTS
32513171
Chrome colors
3251317110
Chrome colors
3251317111
Chrome oxide green (composite and oure)
3251317121
Chrome yellow and orange (composite and pure)
3251317131
Molybdate chrome orange (composite and pure)
3251317141
Zinc yellow (including zinc chromate) (composite and pure)
3251317151
Other chrome colors (composite and pure)
32513172
Iron oxide pigments
3251317211
Iron oxide pigments
32513173
White extender pigments, including barytes, blanc fixe, and whiting, ceramic color pigments, and all other inorganic pigments
3251317311
White extender pigments, including barytes, blanc fixe, and whiting
3251317321
Ceramic color pigments
3251317331
All other miscellaneous inorganic pigments
325131M
Miscellaneous receipts
325131P
Primary products
325131S
Secondary products
325131SM
Secondary products and miscellaneous receipts
325132
This U.S. industry comprises establishments primarily engaged in manufacturing synthetic organic dyes and pigments, such as lakes and toners (except electrostatic and photographic).
3251321
Synthetic organic dyes
32513211
Synthetic organic dyes
3251321100
Synthetic organic dyes
3251324
Synthetic organic pigments, lakes, and toners
32513241
Synthetic organic pigments, lakes, and toners
3251324100
Synthetic organic pigments, lakes, and toners
325132MM
Miscellaneous receipts
325132P
Primary products
325132SM
Secondary products and miscellaneous receipts
325132SS
Secondary products
32518
This industry comprises establishments primarily engaged in manufacturing basic inorganic chemicals (except industrial gases and synthetic dyes and pigments).
325181
This U.S. industry comprises establishments primarily engaged in manufacturing chlorine, sodium hydroxide (i.e., caustic soda), and other alkalies often using an electrolysis process.
3251811
Chlorine
32518110
Chlorine, compressed or liquefied
3251811000
Chlorine, compressed or liquefied
3251811011
Chlorine gas (100 percent Cl)
3251811021
Chlorine liquid (100 percent Cl)
32518111
Chlorine, compressed or liquefied
3251811100
Chlorine, compressed or liquefied
3251811111
Chlorine gas (100 percent Cl)
3251811121
Chlorine liquid (100 percent Cl)
3251813
Sodium hydroxide (caustic soda)
3251814
SODIUM HYDROXIDE (CAUSTIC SODA)
32518140
Sodium hydroxide (caustic soda)
3251814000
Sodium hydroxide (caustic soda)
3251814011
Sodium hydroxide, total liquid (all processes) (100 percent NaOH)
3251814021
Sodium hydroxide, liquid, 68 to 74 percent (100 percent NaOH)
3251814031
Sodium hydroxide, liquid, other than 68~74 percent (100 percent NaOH)
3251814041
Sodium hydroxide, dry (all forms) (100 percent NaOH)
32518141
Sodium hydroxide (caustic soda)
3251814100
Sodium hydroxide (caustic soda)
3251814111
Sodium hydroxide, total liquid (all processes) (100 percent NaOH)
3251815
Other alkalies
3251817
OTHER ALKALIES
32518170
Alkalies other than chlorine and sodium hydroxide
3251817000
Alkalies other than chlorine and sodium hydroxide
3251817011
Potassium hydroxide, liquid (caustic potash, includes quantities of liquid that are later converted to dry or solid) (88 to 92 percent KOH)
3251817021
Potassium hydroxide, solid (caustic potash) (88 to 92 percent KOH)
3251817031
Finished sodium bicarbonate (100 percent NaHCO3)
3251817041
Peroxides of sodium and potassium (100 percent by weight)
3251817051
Potassium carbonate (100 percent K2CO3)
3251817061
Alkalies nec (including soda ash, sal soda, modified sodas, etc.; excluding alkaline detergents)
32518171
Other alkalies
3251817100
Other alkalies
3251817111
Potassium hydroxide (caustic potash), liquid (88 to 92 percent KOH)
3251817131
Potassium hydroxide, finished sodium bicarbonate (58 percent NaHCO3)
325181M
Miscellaneous receipts
325181P
Primary products
325181S
Secondary products
325181SM
Secondary products and miscellaneous receipts
325181WYWW
Alkalies and chlorine, n.s.k.
325182
This U.S. industry comprises establishments primarily engaged in manufacturing carbon black, bone black, and lamp black.
3251820
CARBON BLACK, ALL PROCESSES
32518201
Carbon black, all processes
3251820100
Carbon black, all processes
3251821
Carbon black
325182M
Miscellaneous receipts
325182P
Primary products
325182S
Secondary products
325182SM
Secondary products and miscellaneous receipts
325188
This U.S. industry comprises establishments primarily engaged in manufacturing basic inorganic chemicals (except industrial gases, inorganic dyes and pigments, alkalies and chlorine, and carbon black).
3251881
Sulfuric acid, gross (new and fortified)
32518810
Sulfuric acid, gross (new and fortified)
3251881000
Sulfuric acid, gross (new and fortified)
32518811
Sulfuric acid
3251881100
Sulfuric acid
3251881111
Sulfuric acid, elemental sulfur (100 percent H2SO4)
3251881121
Sulfuric acid, smelting metallic sulfide ore (100 percent H2SO4)
3251881131
Sulfuric acid, decomposition of alkylation and other spent acid (100 percent H2SO4)
3251881141
Sulfuric acid, other (100 percent H2SO4)
32518812
Sulfuric acid, by grade
3251881211
Sulfuric acid, by grade, oleum under 40 percent
3251881221
Sulfuric acid, by grade, oleum, 40 percent and over 40 percent
3251881231
Sulfuric acid, by grade, other than oleum grades
3251884
Inorganic acids, except nitric, sulfuric, and phosphoric
32518840
Inorganic acids, except nitric, phosphoric, and sulfuric
3251884000
Inorganic acids, except nitric, sulfuric, and phosphoric
3251884011
Boric (boracic) (100 percent H3BO3)
3251884015
Chlorosulfonic (100 percent SO2ClOH)
3251884021
Hydrochloric acid (including anhydrous), from salt and acid (100 percent HCl)
3251884025
Hydrochloric acid (including anhydrous), from chlorine and hydrogen (100 percent HCl)
3251884031
Hydrochloric acid (including anhydrous), byproduct and other (100 percent HCl)
3251884035
Anhydrous hydrochloric acid (hydrogen chloride, liquid or gas)(100 percent HCl)
3251884041
Hydrocyanic (including anhydrous) (100 percent HCN)
3251884045
Hydroflouric acid, produced and withdrawn from the system, anhydrous (100 percent HF)
3251884051
Hydroflouric acid, produced and withdrawn from the system, technical (100 percent HF)
3251884055
Mixed acid (sulfuric and nitric) (commodity weight)
3251884061
Perchloric (100 percent HClO4)
3251884065
Other inorganic acids, nec
32518841
Inorganic acids, excluding nitric, sulfuric and phosphoric
3251884100
Inorganic acids, excluding nitric, sulfuric and phosphoric
3251884125
Hydrochloric acid (including anhydrous), from chlorine and hydrogen (100 percent HCl)
3251884131
Hydrochloric acid (including anhydrous), byproduct and other (including from salt and acid) (100 percent HCl)
3251884141
Hydrocyanic (including anhydrous) (100 percent HCN)
3251887
Other inorganic aluminum compounds
32518870
Other inorganic aluminum compounds
3251887000
Other inorganic aluminum compounds
3251887011
Aluminum chloride, liquid and crystal (100 percent AlCl3)
3251887021
Aluminum chloride, anhydrous (100 percent AlCl3)
3251887031
Aluminum hydroxide, trihydrate (100 percent Al2O3.3H2O)
3251887041
Aluminum fluoride (technical)
3251887051
Aluminum sulfate, commercial(17 percent Al2O3)(excluding municipalities)
3251887061
Aluminum sulfate, iron~free (17 percent Al2O3)
3251887071
Aluminates (sodium aluminate, potassium aluminate, etc.) (100 percent by weight)
3251887081
Other inorganic aluminum compounds (light aluminum hydroxide, and cryolite, etc.)
32518871
Other inorganic aluminum compounds
3251887100
Other inorganic aluminum compounds
3251887121
Aluminum chloride, anhydrous (100 percent AlCl3)
3251887131
Aluminum hydroxide,
1 INTRODUCTION & METHODOLOGY
1.1 Overview and Definitions
1.2 Market Potential Estimation Methodology
1.2.1 Overview
1.2.2 What is Latent Demand and the P.I.E.?
1.2.3 The Methodology
1.2.3.1 Step 1. Product Definition and Data Collection
1.2.3.2 Step 2. Filtering and Smoothing
1.2.3.3 Step 3. Filling in Missing Values
1.2.3.4 Step 4. Varying Parameter, Non-linear Estimation
1.2.3.5 Step 5. Fixed-Parameter Linear Estimation
1.2.3.6 Step 6. Aggregation and Benchmarking
2 USING THE DATA
3 CITY SEGMENTS RANKED BY MARKET SIZE
3.1 Top 15 Markets
3.2 Markets 16 to 30
3.3 Remaining Cities by Market Rank
4 CITY SEGMENTS IN ALPHABETICAL ORDER
4.1 A: from Aalborg to Az Zawiyah
4.2 B: from Bacolod to Bydgoszcz
4.3 C: from Caaguazu to Cyangugu
4.4 D: from Da Nang to Dzhizak
4.5 E: from East London to Esteli
4.6 F: from Fagatogo to Funchal
4.7 G: from Gabes to Gyumri
4.8 H: from Hachinohe to Hyderabad
4.9 I: from Iasi to Izmir
4.10 J: from Jaboatao to Jyvaskyla
4.11 K: from Kabul to Kzyl-Orda
4.12 L: from La Ceiba to Lyon
4.13 M: from Macae to Mzuzu
4.14 N: from Nacala to Nzerekore
4.15 O: from Oaklahoma City to Oyem
4.16 Ö: from Örebro to Örebro
4.17 P: from Pago Pago to Pyuthan
4.18 Q: from Qandahar to Quito
4.19 R: from Rabat to Rustavi
4.20 S: from S. Luis Potosi to Szombathely
4.21 T: from Tabligbo to Tyre
4.22 U: from Uberaba to Utulei
4.23 V: from Vacoas-Phoenix to Vukovar
4.24 W: from Wadi Medani to Wuhan
4.25 X: from Xalapa to Xi'an
4.26 Y: from Yamagata to Yungkang
4.27 Z: from Zadar to Zvishavane
5 CITY SEGMENTS RANKED BY COUNTRY
5.1 Afghanistan
5.2 Albania
5.3 Algeria
5.4 American Samoa
5.5 Andorra
5.6 Angola
5.7 Antigua and Barbuda
5.8 Argentina
5.9 Armenia
5.10 Aruba
5.11 Australia
5.12 Austria
5.13 Azerbaijan
5.14 Bahrain
5.15 Bangladesh
5.16 Barbados
5.17 Belarus
5.18 Belgium
5.19 Belize
5.20 Benin
5.21 Bermuda
5.22 Bhutan
5.23 Bolivia
5.24 Bosnia and Herzegovina
5.25 Botswana
5.26 Brazil
5.27 Brunei
5.28 Bulgaria
5.29 Burkina Faso
5.30 Burma
5.31 Burundi
5.32 Cambodia
5.33 Cameroon
5.34 Canada
5.35 Cape Verde
5.36 Central African Republic
5.37 Chad
5.38 Chile
5.39 China
5.40 Christmas Island
5.41 Colombia
5.42 Comoros
5.43 Congo (formerly Zaire)
5.44 Cook Islands
5.45 Costa Rica
5.46 Cote d'Ivoire
5.47 Croatia
5.48 Cuba
5.49 Cyprus
5.50 Czech Republic
5.51 Denmark
5.52 Djibouti
5.53 Dominica
5.54 Dominican Republic
5.55 Ecuador
5.56 Egypt
5.57 El Salvador
5.58 Equatorial Guinea
5.59 Estonia
5.60 Ethiopia
5.61 Fiji
5.62 Finland
5.63 France
5.64 French Guiana
5.65 French Polynesia
5.66 Gabon
5.67 Georgia
5.68 Germany
5.69 Ghana
5.70 Greece
5.71 Greenland
5.72 Grenada
5.73 Guadeloupe
5.74 Guam
5.75 Guatemala
5.76 Guinea
5.77 Guinea-Bissau
5.78 Guyana
5.79 Haiti
5.80 Honduras
5.81 Hong Kong
5.82 Hungary
5.83 Iceland
5.84 India
5.85 Indonesia
5.86 Iran
5.87 Iraq
5.88 Ireland
5.89 Israel
5.90 Italy
5.91 Jamaica
5.92 Japan
5.93 Jordan
5.94 Kazakhstan
5.95 Kenya
5.96 Kiribati
5.97 Kuwait
5.98 Kyrgyzstan
5.99 Laos
5.100 Latvia
5.101 Lebanon
5.102 Lesotho
5.103 Liberia
5.104 Libya
5.105 Liechtenstein
5.106 Lithuania
5.107 Luxembourg
5.108 Macau
5.109 Madagascar
5.110 Malawi
5.111 Malaysia
5.112 Maldives
5.113 Mali
5.114 Malta
5.115 Marshall Islands
5.116 Martinique
5.117 Mauritania
5.118 Mauritius
5.119 Mexico
5.120 Micronesia Federation
5.121 Moldova
5.122 Monaco
5.123 Mongolia
5.124 Morocco
5.125 Mozambique
5.126 Namibia
5.127 Nauru
5.128 Nepal
5.129 New Caledonia
5.130 New Zealand
5.131 Nicaragua
5.132 Niger
5.133 Nigeria
5.134 Niue
5.135 Norfolk Island
5.136 North Korea
5.137 Norway
5.138 Oman
5.139 Pakistan
5.140 Palau
5.141 Palestine
5.142 Panama
5.143 Papua New Guinea
5.144 Paraguay
5.145 Peru
5.146 Philippines
5.147 Poland
5.148 Portugal
5.149 Puerto Rico
5.150 Qatar
5.151 Republic of Congo
5.152 Reunion
5.153 Romania
5.154 Russia
5.155 Rwanda
5.156 San Marino
5.157 Sao Tome E Principe
5.158 Saudi Arabia
5.159 Senegal
5.160 Seychelles
5.161 Sierra Leone
5.162 Singapore
5.163 Slovakia
5.164 Slovenia
5.165 Solomon Islands
5.166 Somalia
5.167 South Africa
5.168 South Korea
5.169 Spain
5.170 Sri Lanka
5.171 St. Kitts and Nevis
5.172 St. Lucia
5.173 St. Vincent and the Grenadines
5.174 Sudan
5.175 Suriname
5.176 Swaziland
5.177 Sweden
5.178 Switzerland
5.179 Syrian Arab Republic
5.180 Taiwan
5.181 Tajikistan
5.182 Tanzania
5.183 Thailand
5.184 The Bahamas
5.185 The British Virgin Islands
5.186 The Cayman Islands
5.187 The Falkland Islands
5.188 The Gambia
5.189 The Netherlands
5.190 The Netherlands Antilles
5.191 The Northern Mariana Island
5.192 The U.S. Virgin Islands
5.193 The United Arab Emirates
5.194 The United Kingdom
5.195 The United States
5.196 Togo
5.197 Tokelau
5.198 Tonga
5.199 Trinidad and Tobago
5.200 Tunisia
5.201 Turkey
5.202 Turkmenistan
5.203 Tuvalu
5.204 Uganda
5.205 Ukraine
5.206 Uruguay
5.207 Uzbekistan
5.208 Vanuatu
5.209 Venezuela
5.210 Vietnam
5.211 Wallis and Futuna
5.212 Western Sahara
5.213 Western Samoa
5.214 Yemen
5.215 Zambia
5.216 Zimbabwe
6 DISCLAIMERS, WARRANTEES, AND USER AGREEMENT PROVISIONS
6.1 Disclaimers & Safe Harbor
6.2 ICON Group International, Inc. User Agreement Provisions
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