Chemical Engineering and Catalysis plays a vital role in our lives because of its uniqueness in properties and extended application in various industries. These are the basis of modern science and technology. Chemical Engineering is at the heart of many technological developments that touch our lives and find applications synthetic replacement for those resources as well as materials that are low in supply. In overall, it can be said that chemical engineers will be able to make very crucial contributions to the improvement in addition to the maintenance of the quality of our lives. Chemical Engineering techniques are used for the production of usable, high quality products such as fibres, fabrics, paints, medical drugs, biomaterials, gasoline, lubricants etc used in various industries such as textile, food, plastics, automotive, aerospace, petroleum, oil and gas, biomedical, biotechnology and pharmaceuticals, thereby increasing the scope of Chemical Engineering.
Market Research on Chemical Engineering
Chemical production in the European Union is expected to barely grow faster than in 2016. In general, the increase in production will remain modest against the backdrop of a sluggish domestic market. We expect competitive pressure on export markets to remain intense, even though the naphtha-based European chemical industry benefits more from low oil prices than the gas-based production in the United States.
In the United States, we expect somewhat faster growth in chemical production, at just under 2%, as new production capacity, which will also be used for export, comes onstream. Overall chemical growth is likely to decelerate somewhat in the emerging markets of Asia, mainly due to the slowdown in China, which will affect the other developing countries in the region. In Japan, we presume a weak overall economic environment and minimal growth in chemical production. In South America, the anticipated end of the recession in Argentina and Brazil will result in slight growth in chemical production in the region.