COVID-19 Outbreak Impact on Chemicals & Materials Market Size and Global Demand

04/mag/2020 16:33:08 suraj taur Contatta l'autore

Questo comunicato è stato pubblicato più di 6 mesi fa. Le informazioni su questa pagina potrebbero non essere attendibili.

Market Overview

Global chemical and materials market is witnessing a complete transformation due to the pandemic COVID-19 and its rapid speed to take over various regions. Market Research Future (MRFR) makes a detailed analysis of the situation in their latest report and finds high demand for protective gears and disinfectants, rising traction for antimicrobial additives, and a surge in intake of plastic and glass for manufacturing PPE as major factors. However, the market may suffer in the coming days for economic restraints, disruptions of supply chains, changes in petrochemical prices, and others.

The market could get better opportunities with increased demand for textile fabrics to maintain various health and hygiene measures. Better performance from new entrants can boost global market growth.

Industry News

In April 2020, Nippon Shokubai and Sanyo Chemical Industries announced that they would delay their merger agreement and postpone their joint ventures due to the outbreak of the COVID-19 pandemic. This will also postpone the review of the share transfer ratio. This is primarily due to the impact on performance, economic, financial, and other business factors.

In April 2020, Bengal Chemicals got the nod to increase its production of hydroxychloroquine, an anti-malarial drug, as its demand is rising across the globe to fight COVID-19.

Segmentation

The COVID-19 Outbreak Impact on Chemicals & Materials Market is getting heavily impacted by COVID-19. This has triggered a closer analysis of these markets and the process has segmented it by type. The intent is to understand what will be the outcome of the impact in the coming days.

By type, the global market for chemicals and materials has been segmented into basic chemicals, specialty chemicals, material & advanced material, polymers & plastics, renewable chemicals, and metals & alloys. These segments are expected to be impacted in several ways. The chemicals segment can proceed at a rapid pace as the demand for various medicines and sanitizers are growing due to the rising demand from several sectors and governments.

Regional Analysis

The global impact of COVID-19 on countries are clearly visible. It began in China, where several companies have their chemical and manufacturing units. Most of these companies had been shut down following the outbreak. In Europe, Italy and Spain have become the epicentres owing to which governments are taking several strict measures to contain the virus and prevent the spreading of it at a rapid rate. Countries like Germany and Switzerland are helping others by extending their healthcare support to others. This demands a constant influx of essential chemicals to counter coronavirus.

In North America, the US is emerging as the epicentre owing to which chemical and material sectors are getting affected. However, several companies have increased their productions to support the fight against COVID-19. But the production is getting channelized. This can impact the outcome of other segments in the coming years.

Access Full Report Details and Order this Premium Report @ https://www.marketresearchfuture.com/covid-19-analysis/covid-19-impact-chemicals-materials-market-9548

Impact on Companies

The impact of COVID-19 on chemicals and materials market is influencing several companies in taking steps that are different from their regular procedures. This will also influence the outcome of the market in the coming days. Arkema of France increased its production of alcohol-based solutions for the healthcare industry. Lanxess from Germany increased their production of high-level disinfectant, Tata Chemicals of India made a decision to shut down their productions in three plants in India, Milliken & Co. decided to scale up their production of antimicrobial fabrics, Air Liquide S.A. from the US increased their production of medical gases. Eastman Chemical Company announced a shutdown of its facilities at Wuhan.

blog comments powered by Disqus
Comunicati.net è un servizio offerto da Factotum Srl