Basic chemicals comprise 38.8% of U.K. chemical industry sales in 2010, market analyst reports; sales of basic chemicals decreased between 2006 and 2009 due to production shifting to emerging economies, but expected to increase slightly in 2010
November 18, 2011
– Research and Markets (http://www.researchandmarkets.com/research/ed894e/chemical_industry) has announced the addition of the "Chemical Industry Market Report 2011" report to their offering.
This Key Note Market Report analyses the UK chemical industry, which is essentially concerned with the production and consumption of organic and inorganic substances. The UK chemical industry is one of the country's largest manufacturing sectors and also one of the largest sources of exports in the manufacturing business. Most of the major chemical companies in the UK are global players that focus on core activities, and tend to buy specialist chemicals from external suppliers rather than producing the materials themselves.
Basic chemicals comprise the UK chemical industry's largest sector, accounting for 38.3% of manufacturers' sales in 2010 and estimated to be worth 19.47bn. This sector is followed by the basic pharmaceutical products and pharmaceutical preparations sector, which accounted for 32.9% of the total sales of chemicals in 2010. It should be noted that sales of basic chemicals decreased year-on-year between 2006 and 2009, as production has been shifting away from the developed world to emerging economies in recent years. Key Note estimates slight growth in 2010, however.
The chemical industry, like virtually every other industry in the UK, has been significantly impacted by the recent economic downturn. In 2008, UK manufacturers' total sales of chemicals, chemical products and man-made fibres decreased to 57.26bn, from a peak of 62.99bn in 2007. The industry then declined by a further 12.6% in 2009, but is expected to have shown a modest increase in 2010.
Key Note expects chemical manufacturers to be disadvantaged by the new carbon price plans outlined in May by the Secretary for Energy and Climate Change, Chris Huhne.
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