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Global Trends Impacting the Global Chemicals and Materials Industry: 360 Degree Analysis
Frost & Sullivan, March 2011, Pages: 62
This research provides insights into the major megatrends that affect the chemicals and materials industry. Global trends discussed include: Globalisation, Health and Wellness, Functionality and Performance and finally, Low Carbon Economy. Apart from discussing recent trends and updates in the global industry, this study also analyses growth opportunities and the status of R&D and innovation globally. Global Trends are long term global transformation processes that arise at the interplay between changes that are happening to us as individuals, changes happening to the world at large and our changing requirements and needs.
This research titled Global Trends Impacting the Chemicals and Materials Industry: 360 Degree Analysis provides a detailed analysis of major trends across the global chemicals and materials industry. In this research, Frost & Sullivan's expert analysts thoroughly examine the following markets: chemicals and materials, commodity chemicals, specialty chemicals.
Companies Need to Identify and Leverage Transformative Global Trends to Drive Future Growth
Global trends, arising at the interplay between changes that are happening to individuals and those happening to the world at large, are transforming requirements and needs. Considering the impact of major global trends allows businesses to determine and respond to opportunities and threats. “Good companies understand what their customers want, great companies understand why,” notes the analyst. “These organisations are better prepared to meet and provide what their customers want next.”
Leaders in the chemicals industry are studying global trends such as globalisation, health and wellness, functionality and performance and low carbon economy to drive future growth. “In the context of globalisation, rising income levels for a rapidly growing younger population in the emerging economies will lead to significant growth in consumer demand,” states the analyst. “For instance, rising demand for electronics, automotive and construction in these economies will trigger growth in related chemicals and materials segments.” In the health and wellness arena, chemicals and materials are set to promote concepts such as aesthetic design, personal care, beauty products, functional foods and personal protection, among others. The rising costs of healthcare indicate that future spending will move away from treatment and towards prevention. This will drive the demand for functional food products and, consequently, functional ingredients in areas such as weight management and heart health. Beyond general health, this trend will also have an impact on the demand for personal care products, nutricosmetics and associated ingredients.
While Growth Opportunities Exist, Market Participants Need to Constantly Maintain and Increase Margins
Chemicals and materials enable improvements in functionality and performance across industries and applications, thereby helping companies maintain a competitive edge. This is evident in the emergence of microwaveable products, non-stick cookware, long shelf life in food packaging, high-tech swimwear, unique building materials and specialty paints and coatings. Key drivers for the low carbon economy include consumer demand and attitudes, legislation, opportunity for profits and, consequently, greater shareholder value. The need to reduce dependence on fossil fuels in the automotive industry has driven the market for alternative fuels such as biofuels and alternative fuel vehicles such as electric vehicles. This has presented growth opportunities for materials, even as the focus on improving fuel economy and reducing automotive weight has driven the uptake of plastics in passenger vehicles.
“The chemicals industry has a constant challenge to maintain and grow margins even as they confront long investment cycles and short product life cycles,” concludes the analyst. “To succeed, market participants need to overcome challenges related to raw material price fluctuations, heightened regulatory requirements, pricing pressure from customers and a changing competitive landscape.”
Market Sectors:
Expert Frost & Sullivan analysts thoroughly examine the following market sectors in this research:
- Chemicals and materials
- Commodity chemicals
- Specialty chemicals
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