By Mahesh Hegde
Asia Pacific (APAC) chemical sector has been staging a tentative recovery from tough economic phases over the past few years. Driven partly by China’s surging chemical demand, the sector is likely to gain an uptick owing to a leap in merger & acquisition deals, and investment activity in the region. A challenging and steadily recovering global economy is leading towards increased joint ventures in APAC.
Changing regulations to influence growth of chemical sector
European Chemicals Agency (ECHA) imposed REACH and CLP regulations related to chemical manufacturing in the previous decade. ECHA helps chemical companies in complying with the legislation, advancing safe utilization of chemicals and providing associated information as well as addressing concerns. These regulations aim to ensure the protection of environment and human health from hazards associated with chemicals and their production, promoting alternative procedures for assessment of hazardous substances, while enhancing innovation and competitiveness.
Read More: Asia Pacific chemical sector in midst of steady recovery
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