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“The chemical licensing market is projected to grow at a CAGR of 5.2% from 2017 to 2022.”
The chemical licensing market is estimated to be USD 10.72 billion in 2017 and is projected to reach USD 13.81 billion by 2022, at a CAGR of 5.2% from 2017 to 2022. The increasing population, expanding manufacturing industry, and growing regulatory requirements in the chemical industry are key factors projected to drive the growth of the chemical licensing market. However, the limited adoption of chemical licensing in emerging economies, owing to the high costs of technologies, acts as a restraint to the growth of the market.
“The chemical segment is expected to be the fastest-growing end-use industry during the forecast period.”
Based on end-use industry, the chemical segment is projected to grow at the highest CAGR during the forecast period. Chemical licensing caters to various industries including the base chemical, active pharmaceutical ingredient, specialty chemical, and polymer industries. Chemical manufacturers that require C1, C2, C3, and other hydrocarbon derivatives are focused on backward integration by producing these chemicals and providing the licensing for the same, and hence need licenses to produce C1, C2, C3, and other derivatives. The global growth in industrial output is boosting the growth of the chemical industry market, which in turn, is expected to drive the growth of the chemical licensing market during the forecast period.
“The C3 derivatives segment is expected to be the fastest-growing type segment of the chemical licensing market.”
Based on type, the C3 segment is projected to grow at the highest CAGR from 2017 to 2022. Manufacturing C3 derivatives involves polymerization, oxidation, esterification, chlorohydrogenation, saponification, hydration, epoxidation, and oxo reaction. The demand for C3 derivatives such as polypropylene, acrylonitrile, hydrogen cyanide, acrolein, acrylic ester, and propylene oxide is increasing from end-use industries, thereby propelling the need for chemical licensing in this segment.
“Asia Pacific is projected to be the largest market for chemical licensing during the forecast period.”
Based on region, Asia Pacific is projected to grow at the highest CAGR from 2017 to 2022. Rapid industrialization and the rise in disposable incomes of the middle-class population is contributing to the economic growth in India, China, and other Southeast Asian countries, including Thailand and Indonesia. The industrialization in the countries mentioned above is projected increase the demand for chemicals from various end-use industries, thereby driving the chemical licensing market in the Asia Pacific region.
Extensive primary interviews were conducted to determine and verify the market size of the several segments and subsegments of the chemical licensing market gathered through secondary research.
The break-up of primary interviews is given below.
- By Company Type: Tier 1-50%, Tier 2-37%, and Tier 3-13%
- By Designation: C-Level Executives-46%, Directors-31%, and Others-23%
- By Region: North America-33%, Europe-28%, Asia Pacific-22%, South America-11%, and the Middle East & Africa-6%
Key companies profiled in this market research report include Johnson Matthey (UK), Mitsubishi Chemical Corporation (Japan), Sumitomo (Japan), ExxonMobil (US), and Shell (Netherlands).
This research report segments the chemical licensing market on the basis of type, end-use industry, and region. The report includes detailed information regarding major factors, such as drivers, restraints, challenges, and opportunities, influencing the growth of the chemical licensing market. A comprehensive analysis of key industry players has been performed to provide insights on business overviews, products & services, key strategies, mergers & acquisitions, contracts & agreement, and other recent developments associated with the market.
Reasons To Buy the Report
The report will help market leaders/new entrants in this market in the following ways:
- The report segments the chemical licensing market and provides the closest approximation of market sizes for the overall market and its subsegments across various regions.
- The report provides key information on the drivers, restraints, challenges, and opportunities in the chemical licensing market that will help stakeholders understand the pulse of the market.
- The report will help stakeholders understand major competitors and gain insights to enhance their competitive position in the market.
- The competitive landscape section offers information on the top 10 companies ranked and grouped based on competency parameters such as geographical presence, recent strategic developments, and number of employees.