The global chemical market research report indicates that the Italian chemical sector experienced exponential growth in production and manufacturing in the year 2017. The growth slowed down tremendously in the year 2018. On a year-on-year basis, the EU production remained stagnant, i.e. the revenue generated accounted for a change of -0.1% in 2018 as compared to 2017. However, the levels of activity within Italy were +1.5% higher in the year 2018 when equated with the value obtained in 2017. However, the economy further slowed down for the year 2019. This downturn was majorly due to the sharp slowdown of the European car industry. Reduced domestic demand is also a key factor that reduces the growth associated with this sector.
According to the market database, the Italian chemical exports registered strong progress in 2017, though the rate of growth slowed down considerably by 2019. In 2017, the growth accounted for a value of +9%, post which the industry continued to expand at a rate of 2.2%. The basic chemicals industry experienced very slow growth in terms of exports for 2017. The sector progressed at a rate of 0.2%. The fine and specialty chemicals market bolstered the growth of this market with a value of 4.5%. The Italian investments concerning the R&D sector are accounted to be 84% between the years 2007 and 2017.
According to chemical market research reports from European Chemical Industry Council (CEFIC), Italy’s chemical production units can be segmented by composition as Italian SMEs (38% of total chemical production value), medium-large Italian groups (24%), and foreign capital companies (38%). For the year 2019, the exports to turnover ratio have been estimated at 55%. The value has increased by 14% points as compared to 2018.
According to the market database, the chemical sector is Italy’s fourth-largest industry with a turnover of USD 66 Billion for the year 2018. The revenue is generated through 2800 Italian companies. Chemical companies achieve 6% of Italy’s manufacturing sales. The export surplus for the year 2018 accounted for a value of USD 4.3 Billion. The consumer and specialty chemicals accounted for 58% of the production value.
The data for the Italian market is obtained from CEFIC chemical market research reports. Other tools that can be employed to gain accurate data readings include Global Market Database.
According to the market database, HVAC filters are majorly composed of non-woven fabrics. The fabrics are either cotton, polyester, or poly-propylene materials. They work on the principle of mechanical separation. The pore size of these filters defines the kind of particle entrapments as well as the efficiency.
Increased R&D coupled with government initiatives that support movements associated with clean air has increased the funding provided to these programs. The profitability of this market can be marginally affected by the high cost of installation and maintenance linked with this product. The technology helps provide high levels of sanitary demand for the Food and Beverage Industry. The filters help companies achieve FDA standards.
Factors that propel the growth of the HVAC Market
Technology innovators have been focusing on fabricating air filters owing to the increased contamination of the atmosphere. The primary target of these inventions is to meet energy efficiency targets, while also delivering finer levels of separation. According to the Environmental Protection Agency (EPA), poor indoor air quality (IAQ) is one of the top five public health risks. HVAC filters are extensively used in production units due to the ejection of exhaust fumes. These filters reduce the amount of suspended particulate matter and toxins inhaled by people working in plant scenarios.
According to the market database, consumers are inclining towards healthy ways of life. The increased deterioration of both outside and inside air quality propels the growth of this market. Other factors such as data center pollution and emissions of toxins from Sulphur laden machines further accelerates the growth of the chemical market. Effective disinfection and sterility are some of the factors that promote the use of HVAC filters in a healthcare environment.
Additionally, rising infrastructural development in commercial as well as residential sectors is expected to boost the product demand. The filters are used to maintain a steady air circulation within the facility. These systems can also be employed for temperature and humidity control of the structured building. Stringent guidelines have been imposed on the utilization of refrigerant, sulfur oxide, nitrogen oxide, and ammonia that is expected to drive the growth of HVAC filters.
According to the market database, the Sofegi Group is one of the key companies based out of Italy. This company was founded in the year 1980. The Sofegi Group focuses on design and manufacturing abilities that encompass product segments like engine filters, air intake, and cooling systems. One of the most recent innovations by the Sofegi Group includes Diesel3Tech. The system employs three filtering layers. Therefore, it considerably improves the protection of modern diesel fuel injection systems.
The company has also initiated the production of a new engine oil filtration module. This technology builds on ECO designs and achieves higher levels of efficiency. Additionally, it has a lesser impact on the environment.
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