Why is chemical sector important? Chemical products are used in variety of different industries like food processing, health care, manufacturing, automotive etc. Many chemical companies process raw material like crude oil and produce refined products, which are used in many industries across different sectors. Many of the chemical sector customers are in industries that are sensitive to trends in consumer demands, hence chemical companies are very sensitive to various economic trends.
Different industries supported by chemical industry,
- Fertilizers and Pesticides These are extensively used in agriculture industry. Fertilizers and pesticides help prevent crops from pest attacks and increase yield of the crop. Chemical industry has played a crucial role in green revolution, which has helped to increase crop yield across the world.
- Pharma Pharmaceutical products and life-saving drugs is the fastest growing industry. With COVID-19 the growth of the industry has only accelerated more. Pharma industry uses a lot of chemical components in the production of drugs.
- Food & Beverages Chemicals play a major role in the food industry. Various chemical are used as preservatives, taste enhancers, and flavors to make the food more tasty and also increase its shelf life. This has helped in exporting foods from one corner to the other corner of the world.
- Daily essentials Toiletries like soap, perfumes, scents, and personal care products are part of our daily lives. All these products are dependent on chemical industry and their demand is growing continuously.
- Leather
- Lubricants
- Paint And Coating
- Paper
- Plastics
- Printing
- Sugar
- Textiles
