Global Digital Chemical Industry Market

Report ID : 1190 | Published : 2021-11-02 | Pages: | Format:

Digitalization is significantly impacting all the segments of the chemical industry, from petrochemicals to pesticides. It helps in improving supply chains, productivity, and market channels. For instance, in July 2021, Siemens and Dow created a process automation test bed to help bring digital transformation to chemical process manufacturing. This test bed designed to allow manufacturers and technology providers to help inform the development of digital twins for process manufacturing.

The major factors driving the growth of the digital chemical industry market include the rising need for continuous and efficient manufacturing methods, adoption of advanced digital technologies by chemical industries, increasing demand for better scheduling of batch production, rising awareness about digitalization solutions. Moreover, increasing government investments in R&D for optimizing manufacturing processes are anticipated to propel market adoption over the forecast period. The growing implementations of modern technologies such as IoT, 3D printing, VR, and AI are expected to increase the R&D activities, likely to fuel the demand for digitization in various industries.

However, the high cost of integrating new technologies, limited knowledge of new digital technologies, and various environmental and safety regulations are expected to hamper the market's growth.

The digital chemical industry market is segmented based on technology, verticals, process, and region. By technology, the market comprises the Internet of Things (IoT), 3D printing, augmented reality (AR), virtual reality (VR), artificial intelligence, digital twin, and other technology. The IoT segment is anticipated to hold the highest market share over the forecast period due to its ability to integrate with new technologies. The verticals segment is grouped into petrochemicals & polymers, specialty chemicals, fertilizers & agrochemicals, and other verticals. The petrochemicals and polymers would be the fastest-growing segment during the forecast period owing to the increasing demand for petrochemicals and polymers by various industries. Based on the process, the market is classified into research & development, manufacturing, procurement, packaging, supply chain management & logistics, and other processes. The manufacturing segment is expected to dominate the digital chemical industry market in the coming years as the digitalization of the manufacturing process offers higher productivity without any capital investments. Regionally, the market is studied across North America, Europe, Asia-Pacific, Latin America, and the Middle East, and Africa.

North America is estimated to hold the maximum share of this market in the near future due to the rising awareness about digitization solutions and increasing R&D funding of chemical companies for overall manufacturing process improvements.

Some of the key players operating in the digital chemical industry market are ABB Ltd., Analog Devices, Atos SE, Autonics Corporation, Cisco Systems, Inc., Emerson Electric Co., Fanuc Corporation, Flowserve Corporation, Fortive, General Electric Co., Hans Turck GmbH & Co. KG, Hanwei Electronics, Hewlett Packard Enterprise Company, Honeywell International Inc., Huagong Tech, Hydro Systems, Infineon, International Business Machines Corporation, InvenSense, Microsoft Corporation, Mitsubishi Electric Corporation, Movement Industries Corporation, NXP Semiconductors N.V. , Omron, Panasonic, Qualcomm Inc., Rockwell Automation, Inc., Schneider Electric SE, Semtech, Sensirion, SICK AG, Siemens AG, Silicon Laboratories, steute Technologies GmbH & Co. KG, STM, Stratasys Ltd., TE Connectivity, TI, Vishay Intertechnology, Inc. , Yokogawa Electric Corporation, Zhonghang Electronic Measuring Instruments, and Other Prominent Players.

Chapter 1. Methodology and Scope

1.1. Research Methodology

1.2. Research Scope & Assumptions

Chapter 2. Executive Summary

Chapter 3. Global Digital Chemical Industry Market Snapshot

Chapter 4. Global Digital Chemical Industry Market Variables, Trends & Scope

4.1. Market Segmentation & Scope

4.2. Drivers

4.3. Challenges

4.4. Trends

4.5. Investment and Funding Analysis

4.6. Industry Analysis – Porter’s Five Forces Analysis

4.7. Competitive Landscape & Market Share Analysis

4.8. Impact of Covid-19 Analysis

Chapter 5. Market Segmentation 1: By Technology Estimates & Trend Analysis

5.1. By Technology & Market Share, 2019 & 2030

5.2. Market Size (Value US$ Mn) & Forecasts and Trend Analyses, 2019 to 2030 for the following By Technology:

5.2.1. IoT

5.2.2. 3D Printing

5.2.3. Augmented Reality (AR)

5.2.4. Virtual Reality (VR)

5.2.5. Artificial Intelligence

5.2.6. Digital Twin

5.2.7. Other Technology

Chapter 6. Market Segmentation 2: By Verticals Estimates & Trend Analysis

6.1. By Verticals & Market Share, 2019 & 2030

6.2. Market Size (Value US$ Mn) & Forecasts and Trend Analyses, 2019 to 2030 for the following By Verticals:

6.2.1. Petrochemicals & Polymers

6.2.2. Specialty Chemicals

6.2.3. Fertilizers & Agrochemicals

6.2.4. Other Verticals

Chapter 7. Market Segmentation 3: By Process Estimates & Trend Analysis

7.1. By Process & Market Share, 2019 & 2030

7.2. Market Size (Value US$ Mn) & Forecasts and Trend Analyses, 2019 to 2030 for the following By Process:

7.2.1. Research & Development

7.2.2. Manufacturing

7.2.3. Procurement

7.2.4. Packaging

7.2.5. Supply Chain Management & Logistics

7.2.6. Other Process

Chapter 8. Digital Chemical Industry Market Segmentation 4: Regional Estimates & Trend Analysis

8.1. North America

8.1.1. North America Digital Chemical Industry Market revenue (US$ Million) estimates and forecasts By Technology, 2019-2030

8.1.2. North America Digital Chemical Industry Market revenue (US$ Million) estimates and forecasts By Verticals, 2019-2030

8.1.3. North America Digital Chemical Industry Market revenue (US$ Million) estimates and forecasts by Process, 2019-2030

8.1.4. North America Digital Chemical Industry Market revenue (US$ Million) estimates and forecasts by country, 2019-2030

8.2. Europe

8.2.1. Europe Digital Chemical Industry Market revenue (US$ Million) By Technology, 2019-2030

8.2.2. Europe Digital Chemical Industry Market revenue (US$ Million) By Verticals, 2019-2030

8.2.3. Europe Digital Chemical Industry Market revenue (US$ Million) estimates and forecasts by Process, 2019-2030

8.2.4. Europe Digital Chemical Industry Market revenue (US$ Million) by country, 2019-2030

8.3. Asia Pacific

8.3.1. Asia Pacific Digital Chemical Industry Market revenue (US$ Million) By Technology, 2019-2030

8.3.2. Asia Pacific Digital Chemical Industry Market revenue (US$ Million) By Verticals, 2019-2030

8.3.3. Asia Pacific Digital Chemical Industry Market revenue (US$ Million) estimates and forecasts by Process, 2019-2030

8.3.4. Asia Pacific Digital Chemical Industry Market revenue (US$ Million) by country, 2019-2030

8.4. Latin America

8.4.1. Latin America Digital Chemical Industry Market revenue (US$ Million) By Technology, 2019-2030

8.4.2. Latin America Digital Chemical Industry Market revenue (US$ Million) By Verticals, 2019-2030

8.4.3. Latin America Digital Chemical Industry Market revenue (US$ Million) estimates and forecasts by Process, 2019-2030

8.4.4. Latin America Digital Chemical Industry Market revenue (US$ Million) by country, 2019-2030

8.5. Middle East & Africa

8.5.1. Middle East & Africa Digital Chemical Industry Market revenue (US$ Million) By Technology, 2019-2030

8.5.2. Middle East & Africa Digital Chemical Industry Market revenue (US$ Million) By Verticals, 2019-2030

8.5.3. Middle East & Africa Digital Chemical Industry Market revenue (US$ Million) estimates and forecasts by Process, 2019-2030

8.5.4. Middle East & Africa Digital Chemical Industry Market revenue (US$ Million) by country, 2019-2030

Chapter 9. Competitive Landscape

9.1. Major Mergers and Acquisitions/Strategic Alliances

9.2. Company Profiles 

9.2.1. ABB Ltd.

9.2.2. Analog Devices

9.2.3. Atos SE

9.2.4. Autonics Corporation

9.2.5. Cisco Systems, Inc.

9.2.6. Emerson Electric Co.

9.2.7. Fanuc Corporation

9.2.8. Flowserve Corporation

9.2.9. Fortive

9.2.10. General Electric Co.

9.2.11. Hans Turck GmbH & Co. KG

9.2.12. Hanwei Electronics

9.2.13. Hewlett Packard Enterprise Company

9.2.14. Honeywell International Inc.

9.2.15. Huagong Tech

9.2.16. Hydro Systems

9.2.17. Infineon

9.2.18. International Business Machines Corporation

9.2.19. InvenSense

9.2.20. Microsoft Corporation

9.2.21. Mitsubishi Electric Corporation

9.2.22. Movement Industries Corporation

9.2.23. NXP Semiconductors N.V.

9.2.24. Omron

9.2.25. Panasonic

9.2.26. Qualcomm Inc.

9.2.27. Rockwell Automation, Inc.

9.2.28. Schneider Electric SE

9.2.29. Semtech

9.2.30. Sensirion

9.2.31. SICK AG

9.2.32. Siemens AG

9.2.33. Silicon Laboratories

9.2.34. steute Technologies GmbH & Co. KG

9.2.35. STM

9.2.36. Stratasys Ltd.

9.2.37. TE Connectivity

9.2.38. TI

9.2.39. Vishay Intertechnology, Inc.

9.2.40. Yokogawa Electric Corporation

9.2.41. Zhonghang Electronic Measuring Instruments

9.2.42. Other Prominent Players

Global Digital Chemical Industry Market, by Technology, 2020-2030 (Value US$ Mn)

  • Internet of Things (IoT)
  • 3D Printing
  • Augmented Reality (AR)
  • Virtual Reality (VR)
  • Artificial Intelligence
  • Digital Twin
  • Other Technology

Global Digital Chemical Industry Market, by Verticals, 2020-2030 (Value US$ Mn)

  • Petrochemicals & Polymers
  • Specialty Chemicals
  • Fertilizers & Agrochemicals
  • Other Verticals

Global Digital Chemical Industry Market, by Process, 2020-2030 (Value US$ Mn)

  • Research & Development
  • Manufacturing
  • Procurement
  • Packaging
  • Supply Chain Management & Logistics
  • Other Processes

Global Digital Chemical Industry Market, by Region, 2020-2030 (Value US$ Mn)

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

North America Digital Chemical Industry Market, by Country, 2020-2030 (Value US$ Mn)

  • U.S.
  • Canada

Europe Digital Chemical Industry Market, by Country, 2020-2030 (Value US$ Mn)

  • Germany
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe

Asia Pacific Digital Chemical Industry Market, by Country, 2020-2030 (Value US$ Mn)

  • India
  • China
  • Japan
  • South Korea
  • Australia & New Zealand

Latin America Digital Chemical Industry Market, by Country, 2020-2030 (Value US$ Mn)

  • Brazil
  • Mexico
  • Rest of Latin America

Middle East & Africa Digital Chemical Industry Market, by Country, 2020-2030 (Value US$ Mn)

  • GCC Countries
  • South Africa
  • Rest of Middle East & Africa

Competitive Landscape

  • Company Overview
  • Financial Performance
  • Key Development

Latest Strategic Developments

InsightAce Analytic follows a standard and comprehensive market research methodology focused on offering the most accurate and precise market insights. The methods followed for all our market research studies include three significant steps – primary research, secondary research, and data modeling and analysis - to derive the current market size and forecast it over the forecast period. In this study, these three steps were used iteratively to generate valid data points (minimum deviation), which were cross-validated through multiple approaches mentioned below in the data modeling section.

Through secondary research methods, information on the market under study, its peer, and the parent market was collected. This information was then entered into data models. The resulted data points and insights were then validated by primary participants.

Based on additional insights from these primary participants, more directional efforts were put into doing secondary research and optimize data models. This process was repeated till all data models used in the study produced similar results (with minimum deviation). This way, this iterative process was able to generate the most accurate market numbers and qualitative insights.

Secondary research

The secondary research sources that are typically mentioned to include, but are not limited to:

  • Company websites, financial reports, annual reports, investor presentations, broker reports, and SEC filings.
  • External and internal proprietary databases, regulatory databases, and relevant patent analysis
  • Statistical databases, National government documents, and market reports
  • Press releases, news articles, and webcasts specific to the companies operating in the market

The paid sources for secondary research like Factiva, OneSource, Hoovers, and Statista

Primary Research:

Primary research involves telephonic interviews, e-mail interactions, as well as face-to-face interviews for each market, category, segment, and subsegment across geographies

The contributors who typically take part in such a course include, but are not limited to: 

  • Industry participants: CEOs, CBO, CMO, VPs, marketing/ type managers, corporate strategy managers, and national sales managers, technical personnel, purchasing managers, resellers, and distributors.
  • Outside experts: Valuation experts, Investment bankers, research analysts specializing in specific markets
  • Key opinion leaders (KOLs) specializing in unique areas corresponding to various industry verticals
  • End-users: Vary mainly depending upon the market

Data Modeling and Analysis:

In the iterative process (mentioned above), data models received inputs from primary as well as secondary sources. But analysts working on these models were the key. They used their extensive knowledge and experience about industry and topic to make changes and fine-tuning these models as per the product/service under study.

The standard data models used while studying this market were the top-down and bottom-up approaches and the company shares analysis model. However, other methods were also used along with these – which were specific to the industry and product/service under study.

To know more about the research methodology used for this study, kindly contact us/click here.

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