China is reportedly preparing to become the world’s largest chemical manufacturing market by 2020, with the country poised to overtake the United States as the world leader in chemicals manufacturing, according to Bloomberg.
The country has long been a key supplier of chemicals for domestic and international industries, and its domestic chemical manufacturing industry is the world leading in chemicals, according the Bloomberg report.
China currently makes about a quarter of all chemicals produced globally.
But as China becomes a leading producer of chemicals, its demand for them is expected to grow.
And in the United Nations Industrial Development Organization’s (IDO) latest report on the global chemical industry for 2016, China was the third largest supplier of industrial chemicals to the world.
In its report, IDO said China’s chemical industry has been in a state of flux since its peak in the late 1990s, with a wide variety of chemicals competing for a growing market. “
The report also predicted that China will become the top chemical exporter in the next decade.”
In its report, IDO said China’s chemical industry has been in a state of flux since its peak in the late 1990s, with a wide variety of chemicals competing for a growing market.
The report said China has a wide range of industrial chemists, including chemists who work in the chemical industry as well as chemists in chemical manufacturing.
China is also home to a large number of chemical manufacturers, including DuPont, DuPont-Pierce, Dow, and Monsanto, which together manufacture around half of the world market for industrial chemicals.
China has also emerged as a key exporter of chemical chemicals, with exports reaching $7.2 billion in 2016.
Its chemical industry is expected, in addition, to become a key player in the global pharmaceutical industry, with China also expected to become one of the largest producers of pharmaceutical drugs.
China’s chemical manufacturing capacity is expected by the IDO to grow by about 10% annually in the 2020s, while its export market is expected grow by 5% annually.
It’s projected that China’s industrial chemist base will grow from roughly 30,000 in 2015 to over 300,000 chemists by 2020.