Recent Research Breakthrough in the UK Chemical Industry
Fine chemicals are a class of chemicals which are well known for their low volume production and higher price when compared to commodity chemicals. They are complex and pure, and are manufactured in small quantities in batches, and serve as the building blocks of agrochemicals, paints, electronics and pharmaceuticals, to name only a few. Their impact on the UK chemical industry was both unprecedented and impressive.
The global fine chemicals industry can be segmented into 7 distinct categories – pharmaceuticals, agrochemicals, polymer additives, food and feed, electronics, perfumes and fragrances, and others. Some of these segments, like pharmaceuticals and agrochemicals, are predicted to show more growth than others in the next decade or so, due to growing demand worldwide.
Research has been carried out on fine chemicals since their release into the UK chemical industry, with both market forecasting and production research taking precedence. There has been a lot of restructuring of business models within different UK chemical companies, to try and optimise the production and consumption process. Predictions have been made for the rise of fine chemicals in the UK chemical industry in the next decade, which fine chemical use expected to see even more growth on a global scale. The growth is expected to be stimulated by the growth of major end use industries like pharmaceuticals and agrochemicals, as they are huge consumers of fine chemicals, as they provide the starting point for many of the products.
So How Does It Work?
Globally, demand is predicted to increase in developing countries particularly, which will boost the use of fine chemicals all over the globe. One major trend that we can observe in the UK chemical industry is that the fine chemicals market is channelising efforts towards the development of more efficient processes of production. The main aim for the next decade is to develop quicker production times and larger quantities. Newer products are also being developed to gain an advantage over competitors, which will give a higher worth to both the UK chemical industry and the global fine chemicals market.
In 2016, the UK chemical industry had planned a number of different investment projects to present a certain level of opportunity for different suppliers of fine chemicals and products. The recent push behind the growth of the fine chemicals industry is thanks to the growing demand for pharmaceuticals in the UK, as they are the central ingredient for many different products.