According to Research and Markets, the global chemical industry is growing extensively, thanks to multiple uses of chemicals in various industries. With respect to the global chemical industry, EU slipped down to the second position (market share of 30.43% and production value of Euro 455.2 Billion) as the largest chemical production base in 2005 after Asia; the reason was the expansion of production bases by China and India and poor performance in petrochemicals and specialty chemical segment in European Union (25).

The pharmaceutical industry of EU (25) is also the second largest industry in the world. It is estimated that the pharmaceutical industry in the region climbed up at a rate of 6% in 2006 propelling the whole chemical industry to move ahead with 2.6% rate.

In future, the chemical segment like consumer chemicals, plastic, paint and dyes, fertilizer chemicals etc are likely to grow due to their supportive industry growth in EU (25). Overall, chemical industry in EU (25) is expected to grow with a CAGR of 3.19% during 2007-2010.

Research Highlights

* Presence of the world’s second strongest pharmaceutical industry in European Union (25) has fuelled the pharmaceutical chemical sales and likely to support the chemical industry in future.

* Cosmetic industry in Europe is gaining pace and creating demand for consumer chemicals in EU (25).

* Huge automobile production base and emerging plastic packaging industry is going to create demand for the plastic and rubber chemicals in near future in the region.

* The printing industry (newspaper) and textile industry is supporting the production of chemicals for paints and dyes and will decide the future demand in EU (25).

* The production of agricultural products in Europe is going to support the future fertilizers and crop protection chemicals in the region.

Key Findings

* Consumer chemicals sale in EU (25) is expected to grow with a CAGR of 2.83% during 2007-2010 and will be supported by the growing personal product industry in Europe.

* Specialty and fine chemical sales are projected to record a CAGR of 1.53% from 2007 to 2010 due to rising competition from developing countries like China and India.

* Pharmaceutical industry sales in EU (25) are anticipated to attain a CAGR of 2.99% during the forecasted period.

* Petrochemical sales in EU (25) are forecasted to inch up at a CAGR of 2.87% during 2007 to 2010.