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Where will the chemical industry be in 5 years time?

Where will the chemical industry be in 5 years time?

The Chemical industry has been one of the largest manufacturing industries of the world. Air, water, natural gas, metals, oils and minerals are the raw materials that are generally processed to manufacture a variety of chemical products used across the globe. While many of the products from the industry, such as detergents, soaps and perfumes, are purchased directly by the consumer, 70% of chemicals manufactured are used by other industries including other branches of the chemicals industry itself, to make products. 

There has been a significant rise in demand for investment in construction projects and also chemical construction demand in repairing old monuments and buildings. Due to changing trends and fast growing lifestyle, the requirement for housing has increased which has considerably resulted in more demand for construction chemicals. Europe Chemical Market Research Report the demand for eco-friendly construction material is increasing. Therefore, manufacturers are continuously developing chemicals to meet the demands like- water bone protective coating which provides benefits like self-cleaning features and graffiti resistance.

The global market is all set to register higher revenues in the years to follow, welcoming the advancements in technology and supporting the increasing demands for newer types of chemicals.

Why should engineering entrants consider chemical courses and look into careers in traditional manufacturing industries like oil and gas and chemicals? Is there a future and what new skill sets should they focus on acquiring and developing to fulfil their career ambitions?

The answer is simple. Over the next 5-10 years the energy and chemical industry will face a major skills shortage. Who knows what will happen 10+ years from now with the pace of change occurring? Regardless, there will be heavy reliance on junior and mid-career level engineers to step up and deliver safe, reliable and profitable operations in a professional environment which is increasingly reliant on technology in the pursuit of business automation.

There is going to be real demand for petroleum and chemical engineering graduates that simply isn’t being filled today. But the opportunity will be biggest for those people with the right skill sets.

Are you looking to study a chemical engineering course? Find out more about the chemical engineering courses on offer at London TFE.

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