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Chemical and Petrochemical Market in Malaysia to Garner 150,375.8 Tons vis-à-vis Volume, Says TMR Study

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Analysts at TMR estimate the Malaysia chemical and petrochemical market to expand at a CAGR of 4.2% for the forecast period from 2021 to 2025. The incessant demand for chemicals and petrochemicals in several end-use industries such as food & beverages, pharmaceuticals, and automotive propels the Malaysia chemical and petrochemical market.

The vast oil & gas reserves in Malaysia account for a significant revenue to the chemical and petrochemical market in the country. This is attracting new companies to establish refinery facilities that would produce a range of chemical and petrochemical products. New players are entering into partnerships with large petroleum companies in the country to gain from their foothold in the chemical and petrochemical market in Malaysia.

Moreover, chemicals and petrochemicals are an integral part of the chemical industry due to their substantial use in the manufacture of synthetic materials.

The outbreak of COVID-19 pandemic had an adverse impact on the Malaysia chemical and petrochemical market. An estimated 5% to 15% decline in foreign direct investment (FDI) has compelled stakeholders to focus on positive or limited negative impact industries. Furthermore, companies are undertaking initiatives to redesign their workflow processes at manufacturing plants to lessen the challenges of the pandemic. This is anticipated to revive growth of the chemical and petrochemical market in Malaysia.

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Malaysia Chemical and Petrochemical Market – Key Findings of Report

  • Dependence on capital-intensive and export-oriented industries for the undergoing rapid economic development in Malaysia boosts the chemical and petrochemical market in the country
  • Proposition of the Government of Malaysia to position the country as the main oil & gas hub in Asia Pacific over the next few years to garner extensive revenues for the chemical and petrochemical market
  • Demand for petrochemicals from the chemical industry that contributes substantial revenue to the economy of Malaysia spells growth in the chemical and petrochemical market of the country
  • Incessant demand for petrochemicals from various industries, including consumer goods, energy, automotive, and healthcare spurs growth curve of the Malaysia chemical and petrochemical market
  • Refining product segment held the leading share of the chemical and petrochemical market in Malaysia in 2020
  • Companies in the Malaysia chemical and petrochemical market seek to diversify production into biofuels and natural gas in a bid to shift to cleaner fuels for the rising demand for diesel in the manufacture of construction equipment
  • Palm oil emerges as a feasible feedstock in the production of 1,3-propanediol and bio-lubricants. Availability of palm oil in abundance in Malaysia is favorable for the development of bio-based chemicals and thus benefit the chemical and petrochemical market.
  • Demand curve of the Malaysia chemical and petrochemical market gains from rising use of petrochemical polymers

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Malaysia Chemical and Petrochemical Market – Growth Drivers

  • Large oil & gas reserves in Malaysia to derive petrochemicals such as propylene, ethylene, and benzene that are exported to different parts of the world drives the chemical and petrochemical market in Malaysia
  • Substantial contribution of the chemical industry to the economy of Malaysia fuels the growth of Malaysia chemical and petrochemical market

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Malaysia Chemical and Petrochemical Market – Key Players

  • Petronas
  • Malaysia Hengyuan International Ltd
  • Vito
  • Petron
  • BASF Malaysia
  • Suka Chemicals
  • ConocoPhilip
  • Kemaman Bitumen Company
  • Pengerang Energy
  • San Miguel
  • Eastman Malaysia
  • Mapei Malaysia

The Malaysia chemical and petrochemical market is segmented as follows;

Malaysia Chemical and Petrochemical Market, by Product

  • Refining Products
    • Crude Oil
    • Gasoline
    • Diesel
    • Kerosene
    • Marine Oil
    • Asphalt
    • LPG
    • Propane
    • Butane
    • Sulfur
    • Sulfuric Acid
  • Chemical Products
    • Benzene
    • Styrene
    • HDPE
    • LLDPE
    • PP
    • Butene-1
    • Butadiene
    • MTBE
    • PO
    • Acetic Acid
    • Methanol
    • EVA
  • Coal
  • Coal Chemicals
    • Methane
    • Carbon Monoxide
    • Hydrogen
    • Ammonia
    • Hydrogen Sulfide
    • Others

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Chemicals & Materials Industry battles Tangible Impact of Economic and Cultural changes, Explore Transparency Market Research’s award-winning coverage of the global Chemicals & Materials Market:

Petrochemical Fasteners Market – https://www.transparencymarketresearch.com/petrochemical-fasteners-market.html

Marine Chemicals Market – https://www.transparencymarketresearch.com/marine-chemicals-market.html

Artificial Intelligence

IG Canada Announces Enhanced Trading Platform for Enhanced User Experience

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Meta description : Explore IG Canada’s advanced trading platform, educational resources, and robust security features. Achieve your trading goals with the innovative tools.
NOTTINGHAM, England, April 25, 2024 /PRNewswire/ — IG Canada, a premier online trading platform, is pleased to announce significant enhancements to its trading technology, designed to empower both novice and experienced traders with superior tools and resources. This development is part of IG Canada’s commitment to providing the best trading experience in the Canadian market.

IG Canada has upgraded its platform with advanced features that streamline trading processes and improve the accuracy of trade execution. These enhancements include customizable charts, a wider range of indicators, and improved mobile access, ensuring traders can operate efficiently from anywhere at any time.
Recognizing the importance of education in trading success, IG Canada has expanded its educational resources. The brokerage now offers a comprehensive learning center featuring webinars, tutorials, and articles that cater to various skill levels. These resources are designed to help traders develop robust trading strategies and improve their market knowledge.
Security remains a top priority for IG Canada. The latest updates include enhanced encryption and multi-factor authentication to protect client data and funds. These security measures provide peace of mind for traders, knowing their investments are safeguarded against potential threats.
IG Canada is a leading online brokerage that provides trading services across multiple asset classes, including forex, stocks, commodities, and indices. With a focus on innovation and customer service, IG Canada is committed to helping Canadian traders achieve their investment goals through a transparent and efficient trading environment.
In addition, IG Canada is committed to engaging with the community through upcoming webinars, live events, and partnerships with local financial experts. These initiatives are designed not only to support the growth and education of the clients but also to foster a stronger, more connected trading community in Canada.
Press Contact:Contact Name: Timothy C. SherwinEmail: [email protected] Phone: +447 441425053

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Artificial Intelligence

Sentrycs Now Part of the UK National Protective Security Authority Catalog of Security Equipment

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This inclusion into the NPSA CSE marks a significant milestone in the company’s commitment to enhancing national and international airspace security and to leading the C-UAS market toward multi-layer strategy optimization and excellence.
TEL-AVIV, Israel, April 25, 2024 /PRNewswire/ — Sentrycs, a leading innovator in adaptive counter-drone solutions, is proud to announce its inclusion in the prestigious UK National Protective Security Authority Catalogue of Security Equipment (NPSA CSE).
 
Following a rigorous assessment process, Sentrycs’ cutting-edge Counter Unmanned Aerial Systems (C-UAS) solution has met the high standards set by the NPSA for Detection, Tracking, and Identification (DTI). The testing, conducted at the NPSA’s designated testing facilities in August 2023, rigorously evaluated the Sentrycs system against the NPSA’s DTI Testing and Evaluation Standard v3.1.
Sentrycs elected to be assessed under Configuration D as a 3D system with Ground Control Station (GCS) detection capability and platform identification capability, which is the most demanding test scenario with the highest number of scored parameters.
The Sentrycs system demonstrated exceptional capabilities in various security scenarios, showcasing its robustness in detecting and tracking with high accuracy and zero false alarms. The system’s innovative use of cyber techniques to extract data from targets and its streamlined human-machine interface were especially noted for their efficiency and ease of use.
“Our team is proud to have Sentrycs recognized by the UK National Protective Security Authority,” said Yoav Zaltzman, CEO of Sentrycs. “Being listed in the CSE is not just an honor; it’s a testament to our technology’s reliability and effectiveness in contributing to the ever-changing airspace security landscape.”
Sentrycs’ technology is now accessible through the NPSA CSE, providing security practitioners with verified solutions that meet the UK’s rigorous security standards. This inclusion not only underscores Sentrycs’ role in advancing security technology but also enhances its visibility and credibility on a global stage.
For more details on Sentrycs’ solutions and their impact, visit www.sentrycs.com.
For further information regarding the NPSA and the Catalog of Security Equipment, please visit the NPSA’s official website.
About Sentrycs
Sentrycs is a leader in adaptive counter-drone solutions, supported by innovative technology designed to passively identify, mitigate, and where necessary, intercept unauthorized drones custom-built for various environments – including airports, borders, prisons, critical infrastructure, and mass events. Founded in 2017, Sentrycs’ has offices in Israel and the US, serving customers worldwide. By uniting its field-proven technology and expertise in global drone environments, Sentrycs is leading the way towards a safer and more secure drone-driven future. Learn more at www.sentrycs.com
Video – https://www.youtube.com/watch?v=YBuhpTq5QuM

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Artificial Intelligence

Homestyler to Recruit First Batch of Global Partners in 20 Countries

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MILAN, April 25, 2024 /PRNewswire/ — Homestyler, a leading all-in-one 3D Design platform and creative community for global designers invested by Easyhome New Retail Group and Alibaba Group, successfully hosted the Homestyler Global Partners Conference and Gorgeous Home Imported Brand Investment Promotion Conference from April 18 to 19 on the sidelines of the 2024 Salone del Mobile Milano, the world’s leading furniture fair.

Easyhome is at the forefront, driving the transformation of the home furnishing industry into a full-service platform. It has developed a tailored solution for global brands called Gorgeous Home, which includes supportive policies and has established local distribution and service networks in international markets. During the conference, Homestyler unveiled a suite of digital products enhanced by 3D and AI technologies, including cloud-based design tools, virtual livestreaming that can alter and restore furnishing scenes to true-to-life scale, a 3D Floor Planner, a 3D Virtual Studio, and a 3D Interactive Panorama, among others. The event also marked the signing ceremony with the first group of global partners.
The Global Partners Program is a key milestone of Homestyler’s roadmap towards global commercialization. It has established close partnerships with around 1,000 global home furnishing companies and design institutions to provide solutions for digital transformation. The first global partners from more than 20 countries and regions will collaborate to explore content creation and marketing potential to deliver effective growth.
In addition, Homestyler shared the unique advantages of its software and cloud designing tools, particularly in cloud rendering, free modeling capabilities, 3D model and material libraries, one-stop workflow, and user-friendliness.
“The core technologies and products of Homestyler extend through all links both online and offline and deeply converge physical experience with digital technologies, such as attracting customers, content design and creation, interactive scene, check-out tracking and more, and we continue to optimize and enhance the 3D scenario shopping experience to empower the transformation and upgrading of the global home furnishing industry,” said Ma Xingjian, head of Homestyler’s overseas business.
Looking ahead, Easyhome and Homestyler aims to establish an international service, regional distribution and dealership system, serving as a bridge between global designers and home furnishing companies worldwide to enable designers residing in different countries and regions to highlight their 3D design solutions and boost shopping experience for the consumers.
As a creative hub for global designers, Homestyler continually expands its model library with home furnishing products from around the world and provides the latest in 3D and AI technologies to help companies promote their products across various channels. Companies such as P Life Concept London, Lahoma Ltd., and Tecnobit S.r.l. are leveraging Homestyler products to enhance the online shopping experience and increase efficiency on their websites. Homestyler plans to introduce more B2B digital products and services, including advanced 3D tools for designing, modeling, rendering, virtual studio shooting, and livestreaming. “Homestyler will further advance our international development: we are planning to establish industry-academy cooperation with Italy’s top design institution, the Polytechnic University of Milan, and the relationship with ADI. With the launch of Global Partners Program, Homestyler will continue to invest in supporting policies and boost international influence through various cooperation programs, to achieve the goal of providing better design services for users globally,” said Xu Min, general manager of Homestyler.
For more information, please visit https://www.homestyler.com.
About Homestyler
Homestyler was jointly invested in by Easyhome New Retail Group and Alibaba Group. It is dedicated to provide 3D cloud design tools for designers worldwide and delivering a comprehensive suite of 3D+AI digital solutions to the furniture and home furnishing industry.

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