Rise in Adoption of New Technologies Expected to Drive Vietnam Chemical Industry: Ken Research

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Chemical industry is one of the ancient industries within manufacturing. It plays an important role in meeting the day to day needs of the common man and also contributes significantly towards industrial & economic growth of a nation.

Chemical is any substance comprising of matter. This includes any solid, liquid, or gas. It is any mixture (a solution, compound, or gas) or any pure substance (an element). It is classified as natural occurrence chemicals and artificial chemicals. Natural occurrence chemicals are naturally present in the environment such as mercury, pyrite, silica, arsenic, asbestos, and radon. Whereas, artificial chemicals are created by humans and do not occur in nature such as polyvinil chloride (PVC) and Baquelite etc.

According to study, “Vietnam Chemical Industry Comprehensive Report Q4/2019” the key companies operating in the Vietnam chemical industry are Petrovietnam Fertilizer And Chemicals Corporation (DPM), Petro Vietnam Ca Mau Fertilizer Joint Stock Company (DCM), Binh Dien Fertilizer JSC (BFC) (BFC), Duc Giang Detergents And Chemicals Joint Stock Company (DGC), Lam thao Fertilizers and Chemicals Joint Stock Company (LAS), Vietnam Fumigation Joint Stock Company (VFG), Dry Cell And Storage Battery Joint Stock Company (PAC), Southern Basic Chemicals Jsc (CSV), Lix Detergents Joint Stock Company (LIX), Saigon Plant Protection Joint Stock Company (SPC). The key chemical companies are adopting digital technologies to increase the profitability of their operations & improve supply chain management. By building digitally enabled smart chemicals plants, manufacturers are scaling up their operations allowing them to gain end-to-end financial visibility. This digital integration reduced risk, better waste management, optimization of the production network, and most of all better workforce safety.

Based on type, Vietnam chemical industry is segmented into commodity chemicals, industrial gases, specialty chemicals, and fertilizers & agricultural chemicals. Commodity chemicals are further sub-segmented into petro-based commodity chemicals and coal-based commodity chemicals. Petro-based commodity chemicals include poly-propylene (PP), poly-ethylene (PE) and polyamide. Coal-based commodity chemicals include methanol and polyvinylchloride (PVC). Industrial gases include propane, argon, nitrogen, carbon dioxide (CO2), helium, neon, welding & cutting gas chemicals, oxy-gasoline welding chemical, carbon monoxide syngas, oxy-acetylene welding chemical, mapp gas welding chemicals, oxy-gasoline welding chemical, and acetylene. Specialty chemicals are further sub-segmented into specialty polymers, paints & coating chemicals, rubber chemicals, printing inks chemicals, plastic additives chemicals, dyes & pigments chemical, cosmetic chemicals, textile chemicals, detergent chemicals, flavor & fragrances chemicals, paper chemicals and water chemicals etc. Paints & coating chemicals include organic coating chemicals (polyurethane coating and alkyd coating chemicals) and inorganic coating chemicals (ceramic coating chemicals, acrylic coating chemicals and intumescent coating chemicals). Rubber chmeicals include Polychloroprene (CR), Polyurethane (PU) and Epichlorohydrin (ECO). Detergent chemicals include non-ionic surfactants chemicals and anionic surfactants chemicals. Flavors & fragrances chemicals include synthetic fragrances chemicals and natural fragrances chemicals (Triethyl citrate synthetic and Vanillin synthetic). In addition, fertilizers & agricultural chemicals are further sub-segmented into plant growth regulator chemicals, pesticide chemicals and fertilizer chemicals. Pesticide chemicals include bio-pesticide chemicals, insecticide chemicals, fungicide chemicals and herbicide chemicals. Fertilizers include nitrogenous chemicals, potassic chemicals and phosphatic chemicals.

The Vietnam chemical market is driven by rise in adoption of new technologies & innovative construction procedures, followed by growth in economy, increase in demand from flavors & fragrances industry and growth in new application development areas. However, stringent environmental regulations and low awareness among consumers may impact the market. Moreover, increase in awareness regarding energy conservation or sustainable infrastructure is a key opportunity for market.

In upcoming years, it is predicated that the Vietnam chemical industry is reached at rapid pace on account of increase in focus on research & development (R&D) and rise in population during the forecast period.

For More Information on the research report, refer to below link:-

Vietnam Chemical Industry

Related Report:-

World Chemical Agricultural Colorants Market Research Report 2024 (Covering USA, Europe, China, Japan, India and etc)

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Ken Research
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Ankur@kenresearch.com
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