The international market for chemical intermediates has been prophesized to rise at a robust CAGR rate over the forecast timeframe that extends from 2017 to 2025. Such a growth of the market for chemical intermediates market is primarily due to the increasing demand for chemical intermediates in the manufacturing of plastics. Apart from that, another factor such as usage of chemical intermediates in the preservation of feeds is also expected to fuel market growth.
Taking vendor landscape into consideration, the market for chemical intermediates can be regarded as moderately fragmented and the market players has been focusing on strategically important moves like partnerships, mergers and acquisitions so as to reinforce their hold on the said market for chemical intermediates.
Chemical Intermediates Market: Trends and Opportunities
Intermediates refer to those molecules that are generated when a chemical substance is converted into a final product. Chemical intermediates are generated during each and every step of the chemical reaction that is meant to change a reactant into a final product. These chemicals are very highly reactive and have shorter period of life. These chemicals are used in various applications. For example, they are utilized in the manufacturing of detergents, coatings, plastics, fibers of elastic textile, and pharmaceutical & crop protectants. Apart from all of these, chemical intermediates are also utilized as agents of de-icing agents in the runways of airports.
There has been an increased requirement for chemical intermediates for its usage in the application of coatings. Chemical intermediates are used widely in the manufacturing of plastics. Such factors are driving the market for chemical intermediates. As such, many companies are making every possible effort to increase their production of chemical intermediates. In addition to that, hassle free availability of raw materials is also expected to bolster the requirement for chemical intermediates in the years to come.
There has been technological progress in the international market for chemical intermediates. Numerous companies are relentlessly trying to come up with better and new avenues for manufacturing of chemical intermediates. As new and better processes pertaining to the manufacturing of chemical intermediates come into existence, it is expected that the same would spearhead the global market for chemical intermediates.
However, there are factors that restrain the market growth as well. The price of raw materials remains volatile and as it is to adversely affect the market growth.
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Chemical Intermediates Market: Geography
The market research report on chemical intermediates also includes regional analysis and segmentations of the said world market. In accordance with the said study, the market spreads across the regions of the Middle East and Africa (MEA), North America, Europe, Latin America and Asia Pacific (APAC). The region of North America is expected to comprise a major share of the market over the period of forecast that extends from 2017 to 2025.