ChemUnity in 2 pictures Sourcing Portal for Buyers Sourcing Portal for Sellers Request Online Demonstration		Home > About Us >           Chemical trading on the rise, set to soar by 2002 Arnhem, The Netherlands - June, 2000 - There is fresh hope for online chemical trading in spite of e-commerce hitting the headlines recently with stories of failed IPOs and profit warnings. A report published by Charterhouse Securities says the value of online chemical trading will rise steadily in the next few years before taking off in 2002. The survey predicts that trading online within the chemical industry will reach $200bn by 2003. At present transactions in the chemical industry are estimated to be worth $1600bn, of which $43bn worth is conducted online through 30 chemical business-to-business exchanges. However, the report says that a few are beginning to lead the field -namely ChemConnect, CheMatch, ChemUnity and Covalex. The report says that by using e-commerce, large and small companies alike can reduce the cost of sales, marketing and order processing by 25-30%. It claims that the bill for technical support can also be cut in half. How the industry views E-commerce 79% of chemical companies have used or intend to use e-commerce in 2000-01 38% regularly conduct transactions over the Internet 35% expect to conduct business over the Internet in the next year 54% expect to conduct business regularly using electronic web-based platforms within the next three years 66% expect to have 10% of sales generated via e-business by 2005 20% have an extranet for customer orders 20% are members of an electronic marketplace Source: European Chemical News, 29 May-4 June 2000