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Chemical industry is an industry that produces chemical products and serves all sectors of the national economy and all aspects of people's lives, involving many industries. Chemical industry can be generally divided into inorganic chemical industry, basic organic chemical industry, polymer chemical industry and fine chemical industry, which are mainly used in the fields of energy, automobile, medical, agriculture, electronics, construction and so on.
Chemical industry is the basis of heavy industry. According to CRI's analysis, with the economic development of Southeast Asian countries, the demand for various chemical products is also gradually growing, promoting the development of the chemical industry in Southeast Asia. Taking Vietnam as an example, in 2022 Vietnam released the "Vietnam Chemical Industry Development Strategy 2030" (Resolution No. 726/QD-TTg), striving for an average growth rate of 10%-11% in the chemical industry by 2030, and expecting that by 2040, Vietnam will adopt advanced technologies to produce products that meet international standards and participate deeply in the global value chain.
The degree of development of the chemical industry in Southeast Asia varies greatly from country to country. For example, Singapore is one of the world's major energy and chemical centers, about 100 global chemical companies operating in Singapore, the chemical industry has also become the second largest industry in Singapore's manufacturing sector. Vietnam's chemical industry, on the other hand, is developing rapidly, but with relatively backward technology and low labor productivity, it cannot meet the needs of other economic sectors and has great potential for future growth.
Southeast Asia in this report includes 10 countries: Singapore, Thailand, Philippines, Malaysia, Indonesia, Vietnam, Myanmar, Brunei, Laos and Cambodia. With a total population of nearly 700 million by the end of 2022, Southeast Asia has an overall economic growth rate higher than the global average and is one of the key drivers of future global economic growth.
According to CRI's analysis, the economic levels of the 10 Southeast Asian countries vary greatly, with Singapore being the only developed country with a per capita GDP of about US$79,000 in 2022. While Myanmar and Cambodia will have a GDP per capita of less than US$2,000 in 2022. The population and minimum wage levels of each country also vary greatly. Brunei, which has the smallest population, will have a total population of less than 500,000 people in 2022, while Indonesia, which has the largest population, will have a population of about 280 million people in 2022.
CRI expects the Southeast Asian chemical industry to continue to grow from 2023-2032.
Topics covered:
- Southeast Asia Chemical Industry Status and Major Sources in 2018-2022
- What is the Impact of COVID-19 on Southeast Asia Chemical Industry?
- Which Companies are the Major Players in Southeast Asia Chemical Industry Market and What are their Competitive Benchmarks?
- Key Drivers and Market Opportunities in Southeast Asia Chemical Industry
- What are the Key Drivers, Challenges, and Opportunities for Southeast Asia Chemical Industry during 2023-2032?
- What is the Expected Revenue of Southeast Asia Chemical Industry during 2023-2032?
- What are the Strategies Adopted by the Key Players in the Market to Increase Their Market Share in the Industry?
- What are the Competitive Advantages of the Major Players in Southeast Asia Chemical Industry Market?
- Which Segment of Southeast Asia Chemical Industry is Expected to Dominate the Market in 2032?
- What are the Major Adverse Factors Facing Southeast Asia Chemical Industry?