The challenge for global chemical manufacturer in 2020
Today's chemical industry is worth billions of dollars.The major producers of chemicals in the 20th and 21st centuries were the United States, Europe, Japan and, most recently, China.These superpowers are producing many of the chemicals we use in our daily lives, from medical chemicals to nail polish removers.But as the clamour for a clean, green environment grows, chemical manufacturer will have to find new and innovative ways to maintain their relevance and profitability. The rise of China In the early 2000s, China's dominance in the chemical industry was caused in part by the weakening of European industry.Since 2000, the European Union has been in a state of instability and instability, which has effectively led to the stagnation of the chemical industry. In addition, chemical production is expensive, and manufacturers find they can set up chemical production facilities in China at 40-60% lower costs than in Europe. Finally, Europe's environmental policies have made it...