Pune, Jan. 17, 2023 (GLOBE NEWSWIRE) -- The report analysed by Maximize Market research, on Chemistry 4.0 Market, covers an extensive business environmental analysis, regulatory landscape, and value chain analysis. Over the forecast period, Maximize Market research estimates, the Chemistry 4.0 market to grow from 58.85 Billion in 2021 to 124.33 Bn in 2029 at a CAGR of 9.8 %.
Chemistry 4.0 Market Scope and Research Methodology
MMR implement primary and secondary research to estimate and forecast the Chemistry 4.0 market. MMR conducts comprehensive data mining and refers to verified data sources such as independent studies, government & regulatory published material, technical journals, trade publications, and paid data sources during the secondary research phase of market research. Several aspects are studied for market forecasting, including drivers and restraints, and their present and expected impacts, band type situation and expected developments, application industry trends and dynamics, and consumer behaviour trends.
The report provides the Chemistry 4.0 market value for the base year 2021 and a yearly forecast until 2029 in terms of volume (Billion Square Feet) and revenue (USD Billion). The market for each technology and application has been provided on a regional basis for the forecast period. The influence of major industry factors, regulatory scenarios, and application markets on product demand over the forecast period is evaluated. Correlation, regression, and time-series analysis were used to determine growth rates. For market sizing, MMR adopted a bottom-up strategy, assessing important regional markets, dynamics, and trends for various goods, applications, and end uses. The global Chemistry 4.0 market was calculated by combining regional markets. Primary interviews with major industry players validated all market estimates and forecasts.
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Chemistry 4.0 Market Overview
With digitalization and automation of processes and products altering businesses all over the world, the new age of Industry 4.0 has been especially visible in chemical-using sectors, resulting in the idea of Chemistry 4.0 becoming widely embraced. As a result, significant advances in the application of digital technology to overcome present technological restrictions, speed processes, and boost productivity have been made across the Chemistry 4.0 business.
Chemistry 4.0 market: Industrial Internet of Things (IIoT) and Artificial intelligence (AI)
The Industrial Internet of Things (IIoT) technology connects devices, improving the operational efficiency of industrial and manufacturing operations. Big Data and machine learning technologies are rapidly being utilised to harness the data created by connected devices in order to increase machine-to-machine (M2M) communication and expedite workflow.
Artificial intelligence (AI) is quickly evolving and reshaping the global industrial environment. The rapid deployment of industrial robots in the chemical sector creates new prospects for AI adoption. The widespread use of technology has resulted in tremendous data collection, and AI assists the business by providing systems and capabilities that can mimic human cognitive processes.
Chemistry 4.0 Market Dynamics
The chemical sector is currently undergoing transformation and development. Digital procedures and data-driven operational strategies are becoming more common. Half of small and medium-sized chemical firms (SME) plan to spend heavily in digitalizing their processes and commercial operations. Similarly, the significance of digital business models to the future viability of the German Chemistry 4.0 industry has been acknowledged, and digital business models are expanding dynamically. Over the next three to five years, chemical firms expect to invest more than a billion euros in new digital business models and digitalization projects. Digitalization will become a fundamental aspect of the chemical industry's business and success strategy, driving the growth of Chemistry 4.0 market.
There are problems that prevent the chemical sector from embracing Industry 4.0. Because the implementation obstacles are so high, firms made very little progress with their Industry 4.0 activities in 2018. It is critical to accurately measure the ROI created by various digital solutions for the firm. Industry 4.0 use-cases sometimes necessitate expenditures in new technologies that do not pay off in the same year. The Chemistry 4.0 market is now striving to identify unambiguous numerical success metrics in order to construct credible ROI calculation models.
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Chemistry 4.0 Market Regional Insights
Germany is becoming a popular location for AI start-ups and its applications such as machine learning, deep learning, computer vision, predictive analytics, and others. Berlin is Europe's second-largest start-up hub, after London. The government's investments are driving the growth of AI in the country. The German industry's success is built on a system of innovation and trade that is driven by variety, diversity, and specialisation. In terms of innovative capacity, Germany ranks first. Germany is a competitive commercial and industrial destination that encourages practical application for SMEs.
| Market Size in 2021 | USD 58.85 Bn. |
| Market Size in 2029 | USD 124.33 Bn. |
| CAGR | 9.8% (2022-2029) |
| Forecast Period | 2022-2029 |
| Base Year | 2021 |
| Number of Pages | 203 |
| No. of Tables | 120 |
| No. of Charts and Figures | 111 |
| Segement Covered | Technology, Application |
| Regional Scope | North America, Europe, Asia Pacific, Middle East and Africa, South America |
| Report Coverage | Chemistry 4.0 Market Variables, Trends & Scope, Roofing Materials Value Chain Analysis, Regulatory Framework, Business Environment Analysis: Supplier Power, Buyer Power, Threat Of New Entrants, Threat Of Substitutes, Competitive Rivalry and Political Analysis, Environmental Analysis, Social Analysis, Technological Analysis, Economical Analysis, Legal Analysis |
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Chemistry 4.0 Market Key Competitors:
- BASF
- Mitsubishi Chemical
- Dow
- Sinopec
- DuPont
- Sabic
- LyondellBasell Industries
- PetroChina
- Ineos
- LG Chem
- Air Liquide
- Formosa Plastics[B]
- Reliance Industries
- Toray Industries
- ExxonMobil Chemical
Key questions answered in the Chemistry 4.0 Market are:
- Which emerging economies are witnessing a rapid rise in demand for industrial robots and AI?
- What factors are expected to drive the demand for Industry 4.0 in chemical industry?
- Which technology is expected to emerge as the fastest growing segment?
- Which application segment is expected to hold the largest market share?
- What factors are expected to support the adoption of Industrial Internet of Things in Chemistry 4.0 market?
- Why and how major companies in Chemistry 4.0 market are adopting strong market positioning startegies?
- What strategies are implimented by major companies to achieve a competitive advantage over local manufacturers and suppliers?
- What are the current manufacturing and technology trends in the Chemistry 4.0 market?
- Which regulations are driving or restraining the Chemistry 4.0 market growth across various countries?
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Key Offerings:
- Chemistry 4.0 Market Current Size and Share, Forecast by Revenue (2022−2029)
- Chemistry 4.0 Market Variables, Trends & Scope, Roofing Materials Value Chain Analysis, Regulatory Framework
- Market Dynamics: Growth Drivers, Market Restraints, Investment Opportunities, Market Challenges and Manufacturing Trends, Technological Trends
- Business Environment Analysis: Supplier Power, Buyer Power, Threat Of New Entrants, Threat Of Substitutes, Competitive Rivalry and Political Analysis, Environmental Analysis, Social Analysis, Technological Analysis, Economical Analysis, Legal Analysis
Maximize Market Research is leading chemical and materials research firm, has also published the following reports:
Industry 4.0 Market: The Industry 4.0 Marketis expected to reach USD 290.42 billion by 2029 at a CAGR of 20.6 percent during the forecast period. The Industry 4.0 Marketis driven by the rising use of the industrial internet and an increase in the use of automation for high-quality production.
Pharma 4.0 Market: The Pharma 4.0 Market is expected to reach USD 377.63 billion by 2029 at a CAGR of 27 percent during the forecast period. The Pharma 4.0 Market drivers are Increasing focus on reduced production costs, and enhanced efficiency.
Industrial Internet of Things (IIoT) Market: The Industrial Internet of Things (IIoT) Market is expected to reach USD 298.98 billion by 2029 at a CAGR of 7.3 percent during the forecast period. The Industrial Internet of Things (IIoT) Market growth is expected to be driven by technological advancements in semiconductor and electronics devices, availability of automation solutions, improved data rates, and coverage of communication technologies, increasing use of cloud computing platform, growing adoption of IPv6, and support from governments worldwide moving to the adoption of IIoT solutions.
Robot Software Market: The Robot Software Market is expected to reach USD 76.55 billion by 2029 at a CAGR of 27.3 percent during the forecast period. The Robot Software Market growth is expected to be driven by increased demand for automation & security in businesses and SMEs are quickly embracing robot software to cut labour and energy costs.
Warehouse Automation System Market: The Warehouse Automation System Market is expected to reach USD 9.16 billion by 2029 at a CAGR of 16.5 percent during the forecast period. The Warehouse Automation System Market growth is expected to be driven by demand for e-commerce in warehouse and investment in waremanagement systems by SMEs.
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