Asia-Pacific is one of the most diverse regions in terms of land area and population. The region’s economic outlook continues to be strong and dynamic. Increasing government subsidies in countries such as India and China has led to resurgent investments in the construction sector. In India, government-supported projects such as Pradhan Mantri Awas Yojana, whose mission is to provide housing for all until 2022, drive the residential and construction sectors. Also, cost interest loans and no-cost EMIs have bolstered the demand for home appliances in middle-class households across developing countries such as India and China, further driving the market growth.
As per Oxford Economics, the chemical industry contributed about USD 2.6 trillion to Asia-Pacific’s GDP in 2019. There are more than 20 sub-sectors within the chemicals industry. As per the UNCTAD, Asia received about 31% of the total foreign direct investment globally, further driving the market growth.
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COVID-19 Impact Analysis
The impact of the novel coronavirus outbreak is visible in all sectors globally and has led to widespread disruption in the supply chain. The sealing of borders and limited transportation has compelled the companies to reduce their production capacities. China is the world leader in chemicals and is valued at USD 162 billion in 2018, contributing around 36% to global sales. The majority of the world economies are heavily dependent on China for raw material. Additionally, global chemical industry giants such as DuPont have witnessed a steep fall in their stock price by around 37% due to the pandemic.
Chloroform Market: Segmentation
Central and South America and the Caribbean
The Middle East
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* Known and Unknown Adjacencies Influencing the Growth of Market
* Explorable Revenue Sources
* Customer Behaviour Analysis
* Target Partners
* Customized Geographical Data Based on Customers as well as Competitors
* Analysis of Market Size and CAGR between the Forecast PeriodsView Full Report Buy This Report Now