UK chemical industry is expected to see a CAGR of 1.9% during the period (2019-2025). UK chemical industry has a significant Brexit impact, which in turn, results in trade disruptions and uncertainty in investment. The UK’s decision to exit the EU has created an economic and political challenge which leads to the uncertainty for companies and their employees associated with different sectors. Most of the UK chemical companies have shifted their focus towards the production of ventilator components and personal protective equipment and hand sanitizers owing to the meet demand for these products with the effect of COVID-19.
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UK chemical industry is segmented into petrochemicals, basic inorganic, polymers, specialty chemicals, consumer chemicals, and others. Based on the segmentation, the petrochemical industry is expected to see a considerable downfall in 2020, due to the COVID-19 pandemic. On the other hand, the consumer chemical industry is least impacted by the substantial demand for soap and detergents even during the pandemic. Therefore, the consumer chemical industry is expected to see the least impact, with a downfall of around 1.5% in 2020, due to the outbreak. Consumer chemical essentially includes cosmetics, vitamins, and health supplements, soaps, detergents, and household chemicals, perfumes, and flavors. The demand for consumer chemicals has increased significantly during the COVID-19 pandemic and to ensure the proper supply of the products related to consumer chemical government is taking essential steps.
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Some of the companies operating in the UK chemical market and get prominently affected by this outbreak include DuPont De Nemours, Inc., Eastman Chemical Co., ExxonMobil Chemical Co., Inc., The Dow Chemical Co., and Chevron Phillips Chemical Company LLC. The companies are shifting to contribute an increase in the production of the hand sanitizers and a surface disinfectant, as various active substances such as alcohol are short in supply. JM declared that the COVID-19 outbreak to reduce its trading performance by nearly $62.2 million in FY 31st March 2020. The company announced there is uncertainty in conditions to forecast the impact on the company’s operations in April 2020. The global automobile companies with their operations in UK, including BMW, Toyota, and Honda declared they have temporarily shut down their UK factories due to the COVID-19 pandemic. This, in turn, will decline the adoption of chemicals owing to the decline in the production of vehicles in the country.
Market Overview and Insights
Scope of the Report
Analyst Insight & Current Market Trends
• Key Findings
• Recommendations
• Conclusion
Government Support for the UK Chemical Industry
Supply & Demand Analysis
Industry Overview
• Historical Market Growth Estimation in UK Chemical Industry Excluding COVID-19 Pandemic Effect
• Deviations in the UKChemical Industry Growth Rate Due to COVID-19 Pandemic
Verticals Affected Most
• Petrochemicals
• Basic Inorganic
• Polymers
• Specialty Chemicals
• Consumer Chemicals
• Others(Auxiliaries for Industry)
Company Profiles
• Johnson Matthey
• Synthomer PLC
• Croda International plc
• Elementis PLC
• INEOS Group
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