The chemistry 4.0 market is anticipated to grow from 70.82 billion USD in 2023 to 178.73 billion USD in 2033, with a projected CAGR of 9.7% over the forecast period.
The primary drivers of chemistry 4.0 market growths are the manufacturing sector's rapid adoption of artificial intelligence (AI) and the Internet of Things (IoT), as well as rising consumer demand for industrial robots used in the production of pharmaceuticals and medical devices, increasing government investments in additive manufacturing and 3D printing, and expanding use of blockchain technology.
The need for robots has increased. Additionally, robots, which were formerly more expensive and had fewer possibilities, are now accessible tools that can do a range of tasks. Industrial robots, in particular, are commonly used by people all around the world.
According to a report on the most recent trends in the robotics industry, industrial robots are being used more frequently in production hubs, which has sped up their development, evolution, and improvement. This will probably encourage the growth of the chemistry 4.0 market.
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Key Players
- BASF
- Dow
- Sinopec
- Sabic
- Ineos
- Formosa Plastics[B]
- ExxonMobil Chemical
- LyondellBasell Industries
- Mitsubishi Chemical
- DuPont
- LG Chem
- Reliance Industries
- PetroChina
- Air Liquide
- Toray Industries
Competitive Landscape
The key companies of the chemistry 4.0 market are constantly on the lookout for effective ways to market their goods and consolidate their positions. One such tactic is to partner with other businesses to introduce new products in order to reach more end users.
Key Segments
By Technology:
- IOT
- AI
- Automation
By Application:
- Consumer
- Enterprise
- Industry
- Construction
- Manufacturing
By Geography:
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East Africa (MEA)
Recent Development
- Merger
After merging with DuPont in 2017, Dow Chemical became the largest chemical company in the world in 2018, dethroning BASF's 12-year reign. But in April 2019, DowDuPont split into three separate businesses: Dow, DuPont, and Corteva Agriscience. In 2018, 18 different countries were represented, with more than half of the companies on the list having their headquarters in the United States, Japan, or Germany.
ABB, Inc. and Nestle, Inc. joined forces in March 2021 to put monitoring software in candy factories. By working with leaders in the sector, the company is concentrating on growing its product offering.
- Agreement
Ansys, Inc. announced a technology agreement with LG Electronics, Inc. in November 2020 to develop a virtual learning portal that Ansys, Inc. has developed.
- Purchase
HMS Networks AB announced the purchase of WEBFactory GmbH in October 2020 to offer web-based software solutions for the Industrial Internet of Things.
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