Chemical industry is one of the core industries and plays a crucial role in the global economy. Along with producing the raw material necessary for various manufacturing companies, the industry is a producer of multiple finished products including agrochemicals such as pesticides and fertilizers as well as coatings for roofs and windows. The other important inputs by this industry includes, but is not limited to, fibres such as polyester and nylon, plastics having major application in packaging. The chemical industry plays a pivotal role in enhancing living standards of masses globally. The industry is wisely working towards achieving the targets defined by United Nation’s Sustainable Development Goals (SDGs). The chemical industries worldwide are spending heavily in R&D and in buying goods and services from their suppliers for innovation. In terms of economic contribution, Asia Pacific regions shows a promising growth driven by the activities of companies based in the region. The presence of multiple manufacturing industries in the region including consumer electronics, display and lighting is a benefit for the chemical suppliers. As per Eurostat’s NACE Rev.2, the chemical industry is a composition of the manufacturers of basic chemicals, plastics and synthetic rubber, fertilizers, nitrogen compounds, agrochemical products including pesticides, inks, coatings and varnishes, paints, cleaning products such as soap and detergents, perfumes and toilet preparations, explosives and pyrotechnic products, essential oils, glues, man-made fibres and few others. The chemical manufacturers have a special focus on management of chemical substance throughout the lifecycle. The demand for advanced materials is significantly supported by the development of light weight products. The spinning off of bigger brand into multiple individual small brands, merger of small brands and strategic tie-ups leads to a more consolidated market. Various prominent players defining the market include BASF, 3M, Dow Chemical, Akzo Nobel among others.

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