China: Market Insight The ‘Impact on China Chemical Industry due to the Covid-19 Pandemic’ Report Released
Market research firm, Research and Markets has recently released an in-depth report on the impact of Covid-19 on the Chinese chemical industry. In the report, various regional players, laws and policies, consumer behaviour and macro-economic factors have also been analysed.
Dublin/Ireland – The ‘Impact on China Chemical Industry due to the Covid-19 Pandemic’ report has been added to ResearchAndMarkets.com's offering.
The Chinese chemical industry has been deeply affected with the outbreak of Covid-19. The high infection rate, city shutdowns, and transportation halts across the nation had a negative impact on the chemical industry of the country. In addition, China is a major player operating in the chemical industry across the globe. The chemical industry was the fifth-largest industry in the country in 2018, accounting for 3.5 % of the nation's output in 2018 that is around 1.5 trillion dollars.
With the spread of the coronavirus, many production facilities of several end-user industries including automobile have been halted. With this, the demand for chemicals used in these production facilities has been exhibiting a sharp decline. China accounts for about 70 % of the total rubber chemical products across the globe and consumes about 33-35 % of it. Rubber chemicals are among the major components to produce auto tires and other auto parts including hoses, belts, and gaskets.
With the halt in production facilities of several automobile manufacturers, manufacturers witnessed a steep fall in the demand for tires, which in turn is anticipated to impact the demand for rubber chemicals. Based on chemical type, the chemical industry is segmented into petrochemical, basic inorganic, polymer, specialty chemical, consumer chemical, and others.
The major companies operating in the chemical industry and which are being affected with the coronavirus outbreak include ABA Chemicals Corp., BASF, Bluestar Co., Cathay Industrial Biotech, China Petroleum & Chemical Corp., Kingboard Holdings, Petro China Company, Sabic, Shanghai Bairun Investment Holding Group Co., Wanhua Chemical Group Co., and others.
To combat this situation chemical manufacturing firms in China are keeping their businesses running in the face of this epidemic. Many chemical plants that were closed in early January 2020 have been reopened at the latter end of February. Most of the petrochemical plants operating in the southeast province of Zhejiang, which is a major chemical industry hub in China had started their production facilities by the end of February. However, most chemical plants are running at a reduced capacity of around 40-70 % owing to the understaffing, and a lack of raw material. In addition, the weakening demand from end-users due to the economic slowdown is among the key factors that are hindering the efforts of chemical manufacturers to get back to full speed in the country.
This report provides an in-depth analysis on market size and the intended quality of the service preferred by consumers. The report will serve as a source for a 360-degree analysis of the market thoroughly integrating different models.
The Report Covers
• Comprehensive research methodology of China's chemical industry.
• This report also includes a detailed and extensive market overview with key analyst insights.
• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting China's chemical industry.
• Insights about market determinants which are stimulating China's chemical industry.
• Detailed and extensive market segments with regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.
In the report, the analysis of the country is provided by analyzing various regional players, laws and policies, consumer behaviour and macro-economic factors. The report includes analysis of different regions and countries and the effect of Covid-19 on the chemical industry of each respective region. In addition, an expected recovery timeline of the industry is also included with the best- and worst-case scenario which will aid clients to take their future steps in the decision-making process.
Key Topics Covered:
1. Report Summary
1.1. Research Methods and Tools
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.3. Government support/bailout packages
2.4. Supply Chain Analysis
3. Industry Overview
3.1. Historical market growth estimation of the China chemical industry pre-Covid-19 pandemic effect
3.2. Deviations in the China chemical industry growth post-Covid-19 pandemic
4. Verticals Affected Most
4.2. Basic Inorganic
4.4. Specialty Chemical
4.5. Consumer Chemical
5. Company Profiles
5.1. ABA Chemicals Corp.
5.3. Bluestar Co.
5.4. Cathay Industrial Biotech
5.5. China Petroleum & Chemical Corp (Sinopec)
5.6. Kingboard Holdings
5.7. Petro China Company
5.9. Shanghai Bairun Investment Holding Group Co.
5.10. Wanhua Chemical Group Co.
5.11. Zhejiang NHU Co.
For more information about this report visit https://www.process-worldwide.com/redirect/938517/aHR0cHM6Ly93d3cucmVzZWFyY2hhbmRtYXJrZXRzLmNvbS9yLzlpcWJheA/9f42775fe38aef13868e4ec00354eea2cbf4d4446e18bf7084b50bbb/article/