UK chemical industry is expected to see a CAGR of 1.9% during the period (2019-2025). UK chemical industry has a significant Brexit impact, which in turn, results in trade disruptions and uncertainty in investment. The UK’s decision to exit the EU has created an economic and political challenge which leads to the uncertainty for companies and their employees associated with different sectors. Most of the UK chemical companies have shifted their focus towards the production of ventilator components and personal protective equipment and hand sanitizers owing to the meet demand for these products with the effect of COVID-19.

UK chemical industry is segmented into petrochemicals, basic inorganic, polymers, specialty chemicals, consumer chemicals, and others. Based on the segmentation, the petrochemical industry is expected to see a considerable downfall in 2020, due to the COVID-19 pandemic. On the other hand, the consumer chemical industry is least impacted by the substantial demand for soap and detergents even during the pandemic. Therefore, the consumer chemical industry is expected to see the least impact, with a downfall of around 1.5% in 2020, due to the outbreak. Consumer chemical essentially includes cosmetics, vitamins, and health supplements, soaps, detergents, and household chemicals, perfumes, and flavors. The demand for consumer chemicals has increased significantly during the COVID-19 pandemic and to ensure the proper supply of the products related to consumer chemical government is taking essential steps.

Some of the companies operating in the  UK chemical market and get prominently affected by this outbreak include DuPont De Nemours, Inc., Eastman Chemical Co., ExxonMobil Chemical Co., Inc., The Dow Chemical Co., and Chevron Phillips Chemical Company LLC. The companies are shifting to contribute an increase in the production of the hand sanitizers and a surface disinfectant, as various active substances such as alcohol are short in supply. JM declared that the COVID-19 outbreak to reduce its trading performance by nearly $62.2 million in FY 31st March 2020. The company announced there is uncertainty in conditions to forecast the impact on the company’s operations in April 2020. The global automobile companies with their operations in UK, including BMW, Toyota, and Honda declared they have temporarily shut down their UK factories due to the COVID-19 pandemic. This, in turn, will decline the adoption of chemicals owing to the decline in the production of vehicles in the country.

Research Methodology

OMR global recently published a report addressing the impact of COVID-19 on the  UK chemical industry. The study is incorporated by extensive primary and secondary research conducted by the research team. Secondary research has been conducted to refine the available data. Different approaches have been worked on to derive the market value and market growth rate. In the report, the analysis of the country is provided by analyzing various regional players, laws and policies, consumer behavior, and macro-economic factors. The report includes an analysis of different regions and countries and the effect of COVID-19 on the chemical industry of each respective region. Besides, an expected recovery timeline of the industry will also be included with the best- and worst-case scenario which will aid clients to take their future steps in the decision-making process.

Sources Include

• Financial reports of companies involved in the market
• Whitepapers, research-papers, and news blogs
• Company websites and their product catalog
• Government Organizations Reports

The report provides an in-depth analysis on market size, intended quality of the service preferred by consumers. The report will serve as a source for 360-degree analysis of the market thoroughly integrating different models.

The Report Covers

• Comprehensive research methodology of  UK chemical industry.
• This report also includes a detailed and extensive market overview with key analyst insights.
• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting  UK chemical industry.
• Insights about market determinants which are stimulating  UK chemical industry.
• Detailed and extensive market segments with regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.