Dublin, Aug. 15, 2024 (GLOBE NEWSWIRE) -- The "China Chemical Licensing Market - Forecasts from 2024 to 2029" report has been added to ResearchAndMarkets.com's offering.
The Chinese chemical licensing market is expected to grow at a CAGR of 6.85% from estimated value of US$11.77 billion in 2024 to US$16.39 billion in 2029
China is experiencing increased demand for chemical licensing because of its rapid industrial growth and expansion of its manufacturing activities. Oil and gas, which are central to most decisions in the wider economy, are one of eight core industries in China. Considering China's significant dependence on energy for economic growth, there is an expectation of increased demand for oil and gas, making investments in this industry worthwhile.
In addition to this, by 2023, $391 billion was spent within the nation on energy. These funds specifically include boosting China's energy infrastructure and diversifying its power sources. The significance of licenses in the pharmaceutical industry has become apparent, and it is a matter of when, rather than if, those who hold patents will begin to demand them.
The rising use of licensing in the pharmaceutical industry is anticipated to drive the market.
The pharmaceutical industry has reached a stage where licenses are becoming increasingly significant. This isn't the case in other tech sectors, where revenue growth rates consistently outpace annual licensing agreements in the software industry. Therefore, it is crucial to thoroughly investigate the reason behind the pharmaceutical industry's licensing practices in greater detail.
Besides this, the market for pharmaceutical technology patents is growing more quickly each year, leading to the segment's growth. For example, the Chinese government designated the Biotechnology industry a priority through its 13th Five-Year Plan and "Made in China 2025" strategy. China's pharmaceutical industry is developing in a similar way to some of its other industries, like telecommunications and chemicals, where government support pushes local businesses ahead of international rivals.
The rising utilization of C2 derivatives in chemical licensing might positively impact market growth.
Applications for polyethylene and EDC-PVC production processes include laminates, films, tubes, plastic components, and high demand. EDC is also used as a chemical solvent in the adhesive, metal cleaning, and textile industries. Because of environmental regulations, solvent markets are frequently mature; however, in the case of perchloroethylene, they are declining. This will consequently be the driving force behind the C2 derivatives segment.
Furthermore, a wide range of industrial domains utilize C2 derivatives, such as the automotive, display, battery, detergent, bathroom products, IT, fiber, and construction industries. The market share of chemical licensing is anticipated to rise as a result of these factors.
Rising use in the chemical industry is predicted to upsurge the market.
The chemical industry is an important part of the growth and development of other industries in general. The chemical sector adds more value than the rest of the industries. Process improvements have made it possible for chemical companies to license petrochemicals and bulk organic chemicals. In daily life, petrochemical products are present almost everywhere in people's lives, from what people wear on their bodies to what surrounds them at home and what they use while working outside or indoors.
High demand from major Chinese provinces
The largest chemical industry in the world, China's chemical industry is predicted to keep expanding because of the government's encouraging policies, growing investments in the chemical industry, and rising end-use industry demand in major Chinese Provinces. For instance, Shanghai Demand Chemical Co., Ltd. is an expert producer and distributor of chemical goods, offering a wide range of goods to clients across the globe. Their areas of expertise include providing a wide range of chemical products and complete solutions for a variety of industries, including surface treatment, lubrication, polyurethane & polyurea thermoset plastics, printing ink and coating, and API.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 80 |
| Forecast Period | 2024 - 2029 |
| Estimated Market Value (USD) in 2024 | $11.77 Billion |
| Forecasted Market Value (USD) by 2029 | $16.39 Billion |
| Compound Annual Growth Rate | 6.8% |
| Regions Covered | China |
Competitive Environment and Analysis
- Major Players and Strategy Analysis
- Market Share Analysis
- Mergers, Acquisitions, Agreements, and Collaborations
- Competitive Dashboard
Companies Featured
- Sinopec Tech
- Dow
- Eastman
- Honeywell
- Mitsubishi Gas Chemical
- Solvay
- BASF
- Nouryon
China's chemical licensing market has been segmented and analyzed as below:
By Type
- Inorganic Chemicals
- Organic Chemicals
By Application
- Oil & Gas
- Petrochemicals
- Pharmaceuticals
- Others
By Province
- Beijing
- Guandong
- Henan
- Shanghai
- Others
For more information about this report visit https://www.researchandmarkets.com/r/zg72fc
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