Chemicals market to grow to €5,000bn by 2030 – consultants

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%. China and India will remain the countries with the strongest growth. This will lead to a major shift toward Asia," said Keller.

The report said 43% of the chemical industry's global market volume is currently in Asia. The global market is currently worth €2,000bn. 

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)

See John Richardson’s Asian Chemical Connections Blog

By: Leigh Stringer
+44 208 652 3214

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