The Future of the Global Chemicals Industry, Driven by Specialty Needs and a Growing Middle Class

Several factors will combine over the long term to reshape both the way the world uses chemicals, and the industry that manufacturers them. To begin with, there is the booming growth of the middle class in such nations as Indonesia, Vietnam and India. If you think of “middle class” as meaning a household that has a reasonable amount of discretionary income, it’s easy to see how this will drive chemicals manufacturing forward. Rising incomes mean the purchase of more cars and motor scooters, more packaged food, more appliances such as air conditioners and better housing, all of which are highly reliant on components manufactured from chemicals and plastics.

Meanwhile, manufacturing and engineering firms are changing the way that chemicals are utilized. This will drive the need for specialty chemicals, such as paints that are more environmentally friendly, and lighter-weight plastic components in cars. (The auto industry is constantly striving to reduce car weight, and plastics are a prime way to do so.) More items, such as aircraft, will be manufactured using strong, lightweight composite materials and plastics, in lieu of traditional metals.

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The Future of the Global Chemicals Industry, Driven by Specialty Needs and a Growing Middle Class, Business and Industry Trends Analysis

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