The chemistry 4.0 market is anticipated to grow from USD 76.1 billion in 2024 to USD 188.7 billion in 2034, with a projected CAGR of 9.5% over the forecast period.
The primary drivers of chemistry 4.0 market growths are the manufacturing sector’s rapid adoption of artificial intelligence (AI) and the Internet of Things (IoT), as well as rising consumer demand for industrial robots used in the production of pharmaceuticals and medical devices, increasing government investments in additive manufacturing and 3D printing, and expanding use of blockchain technology.
The need for robots has increased. Additionally, robots, which were formerly more expensive and had fewer possibilities, are now accessible tools that can do a range of tasks. Industrial robots, in particular, are commonly used by people all around the world.
According to a report on the most recent trends in the robotics industry, industrial robots are being used more frequently in production hubs, which has sped up their development, evolution, and improvement. This will probably encourage the growth of the chemistry 4.0 market.
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Corporations in North America are adopting the idea of smart manufacturing more and more, and the area is predicted to rule the chemistry 4.0 markets. Europe had the second-largest market share for industry 4.0. To maintain its position in the international market, the European chemistry 4.0 markets have made enormous investments in technologies and expertise.
Japan, China, and South Korea are navigating the Asia Pacific chemistry 4.0 market expansions thanks to their thorough approaches to adopting industrial automation and implementing new technologies in their production system value chain.
Key Takeaways
- An estimated USD 3,571 billion was spent on sales of chemistry 4.0.
- From USD 3,826 billion in 2021, sales decreased by 4.5% in 2021.
- Sales of chemistry 4.0 were accounted for by the BRICS (Brazil, Russia, India, China, and South Africa) countries at 50.5%.
- Rising Asian economies, particularly those in the Middle East, produced the majority of the sales of chemistry 4.0 in the fourth quarter.
- With USD 1,731 billion in sales of chemistry 4.0, China is the largest chemical manufacturer in the world.
- From 16.5% in 2010 to 12.3% in 2020, the United States’ share of global sales decreased.
- Over the same period, Japan’s chemistry 4.0 market share dropped from 6.8% to 4.1%.
- China now accounts for 44.7% of chemistry 4.0 market sales, up from 25.9% in 2010.
Competitive Landscape
The key companies of the chemistry 4.0 market are constantly on the lookout for effective ways to market their goods and consolidate their positions. One such tactic is to partner with other businesses to introduce new products in order to reach more end users.
Key Players
- BASF
- Dow
- Sinopec
- Sabic
- Ineos
- Formosa Plastics[B]
- ExxonMobil Chemical
- LyondellBasell Industries
- Mitsubishi Chemical
- DuPont
- LG Chem
- Reliance Industries
- PetroChina
- Air Liquide
- Toray Industries
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Key Segmentation of the Chemistry 4.0 Market
By Technology:
- IOT
- AI
- Automation
By Application:
- Consumer
- Enterprise
- Industry
- Construction
- Manufacturing
By Geography:
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East & Africa (MEA)
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of ~400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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