PUBLISHER: Inkwood Research | PRODUCT CODE: 1427005
PUBLISHER: Inkwood Research | PRODUCT CODE: 1427005
The Asia-Pacific chemical distribution market is estimated to grow with a CAGR of 5.82% over the forecasting years of 2024-2032. The Asia-Pacific's significant industrialization rate, especially in emerging economies, has spurred robust growth in manufacturing and construction. This surge in industrial activities drives demand for a wide range of chemicals, fueling growth in the regional chemical distribution market.
The Asia-Pacific chemical distribution market growth assessment includes the study of China, Taiwan, Japan, India, South Korea, and Rest of Asia-Pacific. Singapore's chemical sector plays a vital role in its thriving economy, having expanded due to substantial infrastructural investments and the development of industrial complexes. This sector provides essential chemical components for a wide range of products, from high-tech goods to downstream chemicals. Positioned as a major petrochemical hub in the Asia-Pacific, Singapore's Jurong Island petrochemical complex serves as a key industrial area housing numerous refineries and petrochemical plants.
Similarly, Malaysia boasts a diverse and dynamic chemical industry that significantly contributes to its economic growth. Known for its integration into the global supply chain, the industry plays a crucial role in supporting key sectors such as manufacturing and agriculture. Malaysia holds a significant position in the oleochemical industry, which involves the production of chemicals derived from natural oils and fats. Oleochemicals find applications across various sectors, including personal care, food, and industrial uses. These factors, in turn, are expected to boost the region's market growth during the forecast period.
Prominent players in the market include TER Chemicals GmbH & Co KG, Jebsen & Jessen Ingredients, Caldic BV, etc.