Analyses & Studies
Allianz: Shaping The Future of Chemicals in APAC
The Asia-Pacific Chemicals sector is witnessing trends that are shaping its future:
Continued growth, led by rapid industrialization and urbanization: China and India are driving demand for chemicals in consumer goods and electronics, as well as demand for specialty chemicals in personal care, food and household products.
Environmental sustainability as a competitive advantage: regulatory pressures are encouraging the adoption of green chemistry, biodegradable products and renewable chemicals, while governments push forward circular economy initiatives promoting recycling and waste reduction.
Need for diversified supply chains: Following vulnerabilities exposed by the Covid-19 pandemic and the impact of geopolitical tensions, businesses in the sector are grappling with challenges to manage supply chain pressures while navigating through an era of innovation.
SOURCE: ALLIANZ
