The global chemical licensing market size was US$ 12,781 million in 2021. The global chemical licensing market size is forecast to reach US$ 19,721 million by 2030, growing at a compound annual growth rate (CAGR) of 5.1% during the forecast period from 2022 to 2030.
Chemicals and raw materials are given to a variety of industries, including detergent and household cleaners, textile, pharmaceutical, petroleum & gas, textiles, and agrochemicals, to create final goods ranging from energy-efficient housing to paints and cosmetic items. Manufacturers are looking for licenses to acquire ownership of specific chemical technologies in order to compete in the marketplace. Chemical licensing gives companies the sole right to carry out any mass-production interaction or exercise in the oil and gas business. Chemical technology licensing also assures that industrial process innovation is both cost-effective and environment friendly.
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Factors Influencing Market Growth
The growing manufacturing sector, increasing population, and a surge in regulatory standards in the chemical industry drive the global market.
Increasing demand for various emission derivatives and the incorporation of efficient technologies to create these derivatives boost the global market growth.
The limited acceptance of chemical licensing, and the high cost of licensing advancements may slow down the overall market growth.
Rising environmental consciousness and strict organizational strategies are forecast to offer lucrative opportunities for the global market during the forecast period.
Impact Analysis of COVID-19
The COVID-19 pandemic had a negative impact on the global market. Several governments worldwide imposed a lockdown in order to curb the spread of the COVID-19 virus. This caused remote working, social distancing, and the closure of commercial transactions. In addition, several end-users had to shut down their operations owing to a lack of labor and insufficient raw materials.
Regional Analysis
The Asia Pacific region is forecast to have lucrative growth during the forecast period. As a result of the increased refinery capacities of India, China, South Korea, and Japan and the demand for innovative sustainable, and environmentally friendly production technologies. In addition, growing industrialization and a growing number of manufacturing sectors. Additionally, rising R&D investment, profitable government subsidiaries, and growing awareness of the relevance and significance of chemical licensing. Thus, these factors boost the global market.
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Leading Competitors
The leading prominent companies profiled in the global chemical licensing market are:
Johnson Matthey
Mitsubishi Chemical Corporation
Sumitomo
Shell
Chevron Phillips Chemical Company
Eastman Chemical Company
Exxon Mobil Corporation
Huntsman Corporation
Nova Chemicals Corporation
Sumitomo Chemical
LyondellBase
Sinopec
Other Prominent Players
Scope of the Report
The global chemical licensing market segmentation focuses on Type, End-User, and Region.
Segmentation based on Type
C1 derivatives
C2 derivatives
C3 derivatives
C4 derivatives
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Segmentation based on End-User
Oil & Gas
Chemical
Segmentation based on Region
North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America
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