Recent advances in Petrochemistry

Without continuous technological innovation, further energy savings will become increasingly difficult to attain. While petrochemical producers have made huge progress in energy reduction, they have almost reached a physical limit where any further reduction would not be of the same proportions as that already achieved. To continue the momentum of energy savings, the petrochemical sector is focusing on creating products with enhanced performance which in turn reduce energy consumption during their lifetime. Such examples include: Insulation in construction; lightweight plastics used in cars and transportation; solar panels; wind mills and water purification systems among many others.

The global analytical standards market is expected to be valued at USD 1.14 Billion in 2015, growing at a CAGR of 6.5% during the forecast period to reach USD 1.56 Billion in 2020. This market is mainly driven by factors such as rising demand for analytical instruments in proteomics & metabolomics and growing importance of analytical tests in drug approval. On the other hand, high cost of analytical instruments & standards is restricting the growth of the global analytical standards market.

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