The Contracts & Agreements Strategy Accounted for A Major Share of all Development Strategies Adopted by Leading Players in the Chemical Licensing Market Between 2014 and 2017.
The chemical licensing market is projected to reach USD 13.81 Billion by 2022, at a CAGR of 5.2% from 2017 to 2022. The chemical licensing market has been segmented on the basis of type, end-use industry, and region. Based on end-use industry, the market has been segmented into oil & gas, chemical, and others. The increase in industrialization in Asia Pacific and Middle East & Africa and the rising regulatory requirements in the chemical industry are the key factors projected to drive the growth of the chemical licensing market.
Major players have followed strategies such as mergers & acquisitions, contracts & agreements, and new technology developments to enhance their share and widen their distribution network in the chemical licensing market. These companies are also engaged in research & development activities to improve the production processes of hydrocarbons and its derivatives, thereby strengthening their foothold in the market. The contracts & agreements strategy accounted for a major share of all development strategies adopted by leading players in the chemical licensing market between 2014 and 2017. Key players operating in this market include Johnson Matthey (UK), Mitsubishi Chemical Corporation (Japan), Sumitomo (Japan), ExxonMobil (US), and Shell (Netherlands).
Johnson Matthey is a key player in the chemical licensing market that manufactures and supplies fine chemical products and environmental technology solutions. The company operates through five business segments, namely fine chemicals, emission control technologies, process technologies, precious metal products, and new businesses, and offers chemical technology licenses through its process technologies business segment. The process technology segment develops and designs chemical processes along with their core technologies. Johnson Matthey operates in various countries across the globe such as the UK, China, Germany, and the US.
In September 2014, Johnson Matthey acquired Catacel Corporation, a supplier of heat transfer catalyst technology, to produce syngas and hydrogen. With this acquisition, Johnson Matthey aims to meet the diverse needs of its clients related to catalyst technologies to produce hydrogen and syngas.
Mitsubishi Chemical Corporation develops and sells performance products, healthcare products, and industrial materials. The company also provides fine chemicals such as aldehydes, monomers, and epoxy resins, as well as solvents and petrochemical products. Mitsubishi Chemical Corporation is one of the major players in catalyst manufacturing and technology licensing, and offers petrochemical technology licensing to various companies across the globe. Mitsubishi Chemical Corporation functions as a subsidiary of Mitsubishi Chemical Holdings Corporation.
In September 2017, Mitsubishi Chemical Corporation entered into an agreement with Air Liquide Engineering & Construction to offer licenses for MCC's BTcB technology and Air Liquide E&C’s butadiene extraction technology to customers. Customers can use these technologies to manufacture butadiene through normal butene, substituting the conventional route through naphtha cracking.
Related Reports:
Chemical Licensing Market by Type (C1 Derivatives, C2 Derivatives, C3 Derivatives, C4 Derivatives) End-Use Industry (Oil & Gas, Chemical), and Region (North America, Europe, Asia-Pacific, Middle East & Africa, South America) - Global Forecast to 2022
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