The chemicals & materials sector involves various operations and processes, and equipment involved in the manufacturing of chemicals and materials, as well as their derivatives. Companies in this sector focus subject themselves to rapid developments and innovations to deliver new products, chemicals, services, and solutions. The extensive range of products offered by the chemicals & materials sector include agrochemi
The chemicals & materials sector involves various operations and processes, and equipment involved in the manufacturing of chemicals and materials, as well as their derivatives. Companies in this sector focus subject themselves to rapid developments and innovations to deliver new products, chemicals, services, and solutions. The extensive range of products offered by the chemicals & materials sector include agrochemicals, bulk chemicals, resins and polymers, coatings, adhesives, ceramic and glass, composites, resins and polymers, insulation materials, packaging materials, and so on.
Green chemistry is the latest trend in the chemicals & materials sector due to the surge in demand for biochemical products. It involves the adoption of new-age sustainable processes and focuses more on renewable raw materials, energy-efficiency, environmentally friendly processes, and waste reduction. In the past few years, smart materials have gained traction owing to the rise in their adoption in end-user industries such as manufacturing, automotive, aerospace, and electronics. The growing trend of implementing the Internet of Things (IoT) has been a major factor driving the global demand for smart materials. A few of the popular smart materials manufactured by the global chemicals & materials sector are shape memory polymers, self-healing materials, advanced lubricants, engineering polymers, piezoelectric materials, magnetostrictive materials, and phase change materials. In addition to smart materials, the adoption of packaging materials is also growing at a substantial rate. Plastic is one of the materials dominating the overall packaging material industry. Consumer inclination toward sustainable packaging and ease of use are the key factors contributing to its high demand in packaging.
Globally, the chemicals & materials sector is one of the main enablers of economic growth as these raw materials provided by this sector are converted into enormous end products that are further utilized in wide range of end-use industries such as consumer goods, building and construction, healthcare, agriculture, and automotive and transportation. Thus, this sector continues to be an integral part the global of GDP with the increase in production capacities and entry of new market players.
The digitalization of core business processes, globalization of supply chains, rapid growth in urbanization, surge in chemical production capacities, inclination of consumers toward sustainable products, and rising investments in research and development are among the prime factors supporting the growth of global chemicals & materials sector. However, hazardous effects on environment due to chemical production, effluent generation, and carbon emission; fluctuations in raw material prices; stringent government regulations; and concerns related to health and safety living beings are few of the challenges faced by this sector.
A few of the trending topics belonging to the chemicals & materials segment are Self-Healing Materials, Smart Polymers, Advanced Polymer Composites, Functional Chemical, Industrial and Institutional Cleaners, Nanochemistry, Green Chemistry, Recycled Plastic, Green Building Material, and Bioplastic/Bioplastic Packaging.