Chemical Licensing Market By Derivative Type (C1, C2, C3, and C4) and by End-Use (Oil & Gas and Chemical): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018—2024

Global chemical licensing market expected to generate revenue of around USD 13.96 billion by 2024, at a CAGR of around 4.62% between 2018 and 2024. Industrial policy means rules, regulations, principles, and policies formulated by the government and some regulatory bodies in order to control and regulate industrial undertaking in a nation.

31-Dec-2018 | Number of pages: 110 | Report Code: ZMR-3036 | Report Format : | Status : Published

Analysis

Industrial policy means rules, regulations, principles, and policies formulated by the government and some regulatory bodies in order to control and regulate industrial undertaking in a nation. Chemical licensing is a part of industrial policies. With fast-paced industrialization and liberalization, it is necessary to have a chemical license for all chemical manufacturing companies and organizations. There should be effective control of chemicals by chemical manufacturing organizations so that the chemicals are not utilized for illegal manufacturing of narcotic drugs and other psychotropic substances.

The chemical licensing market is likely to be driven by high demand for medical and pharmaceutical drugs globally in the future. The rise of chronic diseases among the world’s population is anticipated to propel the chemical licensing market in the upcoming years. Manufacturers that are involved in drug manufacturing for medical and pharmaceutical industry need to have a chemical license for the same. Moreover, the technological advancements made in the chemical industry to meet the consumer needs and requirements are estimated to further fuel this market in the years ahead. Chemical licensing involves patenting the proprietary technology of each individual chemical manufacturing company, which is sustainable and eco-friendly in nature. Stringent government regulations in some nations and the growing need for an additional number of downstream processing industries are likely to positively impact the chemical licensing market development over the forecast time period. However, the higher licensing cost of technologies might hamper this global market’s development in the future.

Global Chemical Licensing Market

The chemical licensing market is segmented based on the derivative type and end-use. By derivative type, this market includes C1, C2, C3, and C4. On the basis of end-use, the market is bifurcated into chemical and oil and gas.

By region, Asia Pacific is likely to grow at the highest rate in the chemical licensing market globally over the forecast time period. This growth can be attributed to the increasing number of small- and medium-sized enterprises with different chemical manufacturing and production facilities across the region. The rapid industrialization and improved production efficiency are anticipated to further drive this region’s chemical licensing market in the future. North America held a substantial revenue share of the global chemical licensing market, due to faster adoption of new technologies by the region’s chemical industry.

Some industry players operating in the global chemical licensing market include Chevron Phillips Chemical Company, Eastman Chemical Company, Exxon Mobil Corporation, Huntsman Corporation, Johnson Matthey, Mitsubishi Chemical Corporation, Nova Chemicals Corporation, Sumitomo Chemical, LyondellBasell, and Shell, among others.


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