21 November 2011 13:17 [Source: ICIS news]
LONDON (ICIS)--Chemical market volumes will more than double to nearly €5,000bn by 2030 as the market shifts further towards Asia, international strategy consultants Roland Berger said in a report on Monday.
"Growth will be driven to a disproportionately large extent by the Asian and special chemicals markets, which will also shape the future of the chemicals industry," Roland Berger partner Alexander Keller said.
"The NAFTA [North American Free Trade Agreement] countries and western Europe in particular will realise annual growth of about only 2%. ?xml:namespace>
The report said 43% of the chemical industry's global market volume is currently in
It added that by 2030, companies from the various chemical sectors will be engaged in fierce competition for additional market volume worth more than €1,000bn ($1,351bn).
“To do so, they will have to find a strategy that puts them ahead of the competition,” the report said.
($1 = €0.74)
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