Digital Transformation of APAC Specialty Chemicals Industry
Global markets is continuously witnessing unsettling tidal waves with slowdown in China’s economic growth and inability of local powers to handle the turmoil. China being a leader in consumer goods manufacturing and increasing domestic consumption is surging the demand for raw materials more than 50 per cent. This in turn has acutely impacted the commodity-based industries like semi-conductors, consumer durables, technology hardware, and automotive etc.
However, for market investors, some of the APAC countries like China, India, Japan and Singapore remains the focus for investments in past couple of years and continue to be positive of the times ahead. According to Standards & Poors, China will remain a strong market in spite of current slowdown and complex decision making in industries. China consumes more than one third of the total base chemical production, which is greater than rest of the world. Whilst China and Japan are the largest specialty chemicals markets in the Asia-Pacific region, India has been evolving from a commodity chemical based market to include more and more specialty chemicals and is likely to continue to be a strongly growing market in future. The Asia-Pacific specialty chemicals market is expected to generate total revenues of $350.7bn in 2014, representing a compound annual growth rate (CAGR) of 7.7% between 2010 and 2014.
With slowing economies, capital cost cuts, fluctuating demand and developments in other manufacturing industries like electronics, automotive, etc. chemical industry is desperately shifting its gears and strategies to create new revenue opportunities, improve customer experience and improve production performance and efficiency. To seize the opportunity, chemical manufacturers are slowly stepping up and initiating digital strategies and adopting agile planning across its value chain like manufacturing operations, product innovation, competitive pricing, customer services, and market expansion.
This report deep dives into the current situation of APAC specialty chemicals market and relevant market drivers and challenges. Furthermore, the report focuses on the IT investments made by the chemical manufacturers across the technology stacks like hardware, software, and IT services in countries like China, India, Singapore and Japan. It includes the factors which is driving the current and future IT investments by the chemical manufacturers. Broadly, this report touches some of the main digital themes like cloud computing, big data, analytics and Internet of Things (IoT) etc.
Some of the key report highlights are:
Global specialty chemicals market size
APAC specialty chemicals market size
APAC specialty chemicals market size, By Countries (2015-2019)
APAC specialty chemicals market size, By Chemical Types
Porter Analysis of APAC Specialty Chemical Industry
Chemical Industry Challenges and Drivers towards Adoption of Digital technologies
Current and Future IT Spending in APAC Chemical Industry (2015-2020)
Current and Future IT Spending in APAC Chemical Industry (2015-2020), By Country (Japan, China, India and Singapore)
Current and Future Adoption of Digital Technologies (Cloud, Big data, Analytics, and Internet of Things (IoT)) in APAC Chemical IndustryKey Priorities Areas for Chemical Manufacturers
Digital transformation of Customer Engagement and APAC Chemicals Industry value chain
Key Digital Projects/ initiatives of some of the leading Global Chemical Manufacturers
How to feed in Innovation within Chemical Industry"