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Chemical Intermediates Market Analysis:
Chemical intermediates are produced through synthetic process in which the produced chemical substance is further transformed into a final product. These intermediate serve as essential elements to produce everyday necessities such as plastics, soaps, and textiles.
Chemical intermediates are available in multiple forms such as ethylene dichloride as a solvent and caustic soda as a solid.
COVID-19 scenario analysis
The impact of the COVID-19 pandemic has been significant in the chemical intermediates industry. This is attributed to increase in demand for disinfectants and rise in need for plastic and glass for the manufacturing personal protective equipment and protective gears. Furthermore, surge in demand for textile fabrics is expected in the near future to meet the growing health &hygiene requirements.
However, disruption of supply chain, fluctuation in petrochemical prices, and economic constraints are the key factors that are expectedto hamper the global market growth.
Top impacting factors: market scenario analysis, trends, and drivers
Chemical intermediate is used as a building block to produce a wide range of chemicals. Therefore, they are highly demanded in the market to undertake production of several chemical categories. Chemical intermediates are popularly used to produce basic agriculture chemicals, including pesticides and fertilize. As a result, growing agricultural production is the prominent growth driver of this market. Pharmaceutical industry is a regular consumer of chemical intermediates, where they are employed in the production of drugs as per the need. Factors that support the growth of the chemical intermediates markets include increase in prevalence of diseases and consistent efforts to develop new drugs.
Key players in this market are putting efforts to come up with new manufacturing process for chemical intermediate. Such initiatives are anticipated to develop new technologies that may help in creating ideal product formulation. This is further expected to create profitable growth opportunities to this market.
The revenue of the global chemical intermediates market is expected to witness a notable growth by 2021, especially from the pharmaceutical domain due to increase in prevalence of chronic diseases across the globe.
Key benefits of the report
Questions answered in the global chemical intermediates market research report:
Key Market Segments
Key Market Players