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Prospects of Chemical Industries

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Major global cities in Asian, European and American continents constitute chemical companies with international business operations. Products of chemical tycoons range from typical household detergents to chemicals used in aerospace industry. Chemical substances are widely used in agro industries, health care sector, technology and telecommunications. It is estimated that chemical industry in USA employs more than one million people and it contributes a major portion of exports. In developed countries like China, Japan and Russia, chemical companies are the second largest energy consumers in the manufacturing industry. offers large opportunities for revenue generation and obtaining foreign currency. Mergers and acquisitions have become a common phenomenon in industrial world and chemical companies too are not an exception to this. Investing in chemical industries will be equally profitable to investment in technology and telecommunication sectors. Future prospective for individual spheres of chemical industry is bright and it will be a flourishing commerce initiative for countries less developed in technology and other new age industries. Usage of agricultural chemicals is very high in countries like India, Philippines and Brazil. As farmers are looking for high quality seeds and better crop prices, agro chemical industry will record exceptional growth. Automotive industry accounts for a major share of chemical substance demand.