Frost & Sullivan has released its three big predictions for the global chemical, materials and food industry.
Based on a ‘2013 Search for Growth’ survey which involved 1,835 executives in more than 40 countries globally, Frost & Sullivan’s insight highlights new areas of growth.
Materials market for energy-efficient buildings, construction chemicals and flexible packaging will be the key growth areas in 2014 and beyond.
“Frost & Sullivan gathered information from the leading industry players in the chemical, materials and food industry. Using comprehensive analysis, our research team identified key trends, opportunities and challenges for the upcoming year,” explains Frost & Sullivan Research Director Chemicals, Materials & Food Dr Leonidas Dokos.
The changing consumer lifestyle will attract more interest towards new packaging technologies and products such as flexible packaging, especially in food and beverage applications, which is the largest end segment application, according to survey findings.
The increased focus on sustainability will continue to be a major trend in the packaging industry, which supports the adoption of materials from renewable sources.
Based on the survey, Frost & Sullivan has identified emerging markets for the chemicals, materials and food industry in 2013.
Brazil, Russia, India and China were leading the developments even with the slowdown observed in China and India; the political and social unrests in Brazil and Russia.
Also Turkey and Southeast Asia countries, such as Vietnam, Indonesia, and Malaysia are strengthening their global position as production and consumption hot spots.
The leading industries identified in 2013 were construction and utilities, transportation, foods and beverage, personal protective equipment, and food, drug, and cosmetics.
Technologies, markets to watch
Frost & Sullivan has also identified the top technologies and markets to watch in 2020.
These are lightweight materials including composites and plastics, bio-based chemicals and materials, shale gas chemicals and infrastructure, advanced coatings, water and wastewater treatment chemicals and solutions, nutritional and functional food ingredients, hybrid personal care markets, agrochemicals and crop protection chemicals.