Many companies in this Market are adopting IoT (Internet of Things) technologies to connect equipment and smart devices to garner real time insights and locate gaps in the manufacturing process. The data obtained is processed, analyzed and interpreted by plant managers and senior level management to improve quality and achieve optimum production levels. For example, smart systems give information on the working condition and performance of Chemical reactors with embedded software and analytics tools to notify plant operators and managers on possible machine breakdowns.
Asia Pacific was the largest geographic region in the market, accounting for over 35% of the global market.
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The chart below shows the year-on-year growth of the global general chemical product market during 2017 – 2021
According to The Business Research Company’s Consultant, Nitin Gianchandani, chemical companies are rapidly adopting automated technologies which will allow them to enhance their product quality. For instance, sensors are being installed at customer sites to track their product performance. The sensors will enable the chemical provider to advance their product.
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The general chemical product industry comprises establishments primarily engaged in manufacturing general chemical products (except basic chemicals, resins, synthetic rubber and other chemicals mentioned in other segments).
General Chemical Product Global Market Report 2018 is a detailed report giving a unique insight into this market. The report is priced at $4000 for an individual user. To use across your office, the price is $6000 and $8000 if you wish to use across a multinational company.
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