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Daily Mail
11-06-2025
- Science
- Daily Mail
'Silent' crisis that threatens to wipe out $300 billion coastal industry
Scientists have warned of an environmental crisis threatening to destroy a $300billion global industry critical to coastal communities worldwide. A new study revealed that ocean acidification has already crossed a global tipping point. This occurs when the ocean absorbs excessive carbon dioxide from the atmosphere, making it more acidic and corrosive to marine organisms. Since the Industrial Revolution, burning fossil fuels has sent massive amounts of carbon dioxide into the air, increasing the ocean's acidity. Scientists revealed that oceans crossed a critical limit for acidification as early as 2000, with 60 percent of deeper waters now beyond the danger zone. The study found that the damage has already led to the loss of 43 percent of coral reef habitat, 61 percent of sea butterfly habitat, and 13 percent of suitable environment for shellfish like oysters and mussels. When the ocean becomes more acidic, it eats away at the building blocks these animals need to grow their shells. This change could push the global seafood industry, worth multi billions toward collapse. The US, with an $11 billion seafood market, is the world's second biggest market and could face serious consequences. 'It is not just an environmental issue anymore,' said Professor Steve Widdicombe, director of science at Plymouth Marine Laboratory and a leading global voice on ocean acidification. 'We are gambling with biodiversity and with billions in economic value every day that action is delayed.' Researchers say ocean acidification is undermining the survival of 'calcifying species' marine organisms that depend on calcium carbonate to form their shells and skeleton. 'Ocean acidification can severely affect marine organisms through its direct impact on physiology, growth, survival and reproduction,' researchers said in the study published in Global Change Biology. Shellfish farming alone contributes billions annually, supporting over 600 million people in coastal communities. Researchers said that by 2020, the ocean's water had already changed enough to go past the safe limit, scientists set to protect sea life from harm caused by too much acidity. In other words, the ocean became too acidic for many marine animals to stay healthy. That line was drawn at a 20 percent reduction in calcium carbonate compared to pre-industrial levels and US West Coast is among the worst affected. But this study suggests that even 10 percent deviation from pre-industrial conditions is enough to push marine ecosystems into danger. The maps highlight areas where conditions are just barely okay for corals, marked by a line called the 3.5 contour. Purple dots show where coral reefs are found. The maps compare four different times: (a) before big human impacts, (b) in 2020, (c) after a 10 percent drop from the old healthy level, and (d) after a 20 percent drop from the old healthy level. The Pacific oyster, a key part of US seafood farming, struggles to survive when ocean water gets too acidic. In the early 2010s, oyster hatcheries in the US Pacific Northwest almost shut down because the seawater became too acidic. To fix this, hatcheries started using sensors to monitor the water and added chemicals to keep it safe for oysters. However, many smaller or remote hatcheries often can not afford these fixes, and the same problem is now showing up along the Gulf and East coasts. However, many coastal areas around the world still do not have the tools or government help to deal with this problem. The damage is not limited to oysters. Tiny sea creatures called pteropods, a major food source for fish like salmon and mackerel, are already being hit hard by acidifying waters. By 2020, more than half of their polar habitat was damaged, with marine life struggling to survive. If they disappear, it could shake the entire ocean food chain. Coral reefs, though less common in US waters, are also at risk, putting coastal protection and young fish habitats in danger. As the ocean condition worsen, the sector is impacting both livelihoods and economy of US seafood industry. According to National Oceanic and Atmospheric Administration, the US marine industry supported 2.3 million jobs and generated $321 billion in sales in 2022. In addition to this, a report funded by the National Sea Grant Program found that US aquaculture, adds about $4 billion to the economy each year and supports over 22,000 employment. In the Pacific Northwest, where commercial shellfish farms thrive, corrosive seawater has already crossed the danger threshold. Despite growing evidence, the crisis remains largely unseen. 'There's no smoking gun,' said Professor Steve Widdicombe of Plymouth Marine Laboratory to The Guardians. 'It is tough to convince policymakers when the water looks fine from the beach.' International goals exist, like the UN's Sustainable Development Goal 14 and the Global Biodiversity Framework, but few governments, including the US, have laid out aggressive national plans specifically targeting acidification. 'Ocean acidification is a crisis we cannot see,' said Professor Helen Findlay, the lead author of the study. 'But its fingerprints are all over our coastlines, hatcheries and ecosystems. And unless we act now, the losses will keep mounting.'
Yahoo
26-05-2025
- Business
- Yahoo
2025 Chemicals Global Industry Guide: 2020-2029 Top Players, Key Financial Metrics and Analysis, & Competitive Pressures
Explore the comprehensive Global Chemicals Industry Profile offering insights into market size and forecasts up to 2029. It covers key segments like commodity and specialty chemicals, examines leading players with financial metrics, and analyzes competitive pressures. Discover trends and economic indicators influencing this $5.44 trillion market. See why Asia-Pacific dominates and the significance of segments like agricultural chemicals, with detailed future growth forecasts. Dublin, May 26, 2025 (GLOBE NEWSWIRE) -- The "Chemicals Global Industry Guide 2020-2029" report has been added to Chemicals industry profile provides top-line qualitative and quantitative summary information including: market size (value and volume, and forecast to 2029). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the Highlights Chemicals market is segmented into commodity chemicals, specialty chemicals, agriculture chemicals, and others. Market values represent country's consumption of chemical products at the producer's selling price (PSP). Commodity chemicals are basic chemical products used in large quantities across various industries. These chemicals are essential in the production of items such as man-made fibers, basic chemicals, rubber tires and tubes, plastic products, etc. Specialty chemicals are distinctive, high-value substances designed for specific applications. These chemicals play a critical role in industries like personal care and cosmetics, pharmaceuticals, food and beverages, adhesives and sealants, water treatment, and construction. Agricultural chemicals are vital for enhancing crop production, protecting plants from pests and diseases, and improving soil fertility. They are used in fertilizers, pesticides, plant growth regulators, soil conditioners, antimicrobial agents, and other related applications. The scope of others segment includes chemicals used for the manufacture of photographic plates, films, sensitized paper and other sensitized unexposed material. It also includes substances used for pickling metal, making propellant powders, and creating powders and pastes for soldering, brazing, or welding. All market data and forecasts are based on nominal prices, and all currency conversions used in the creation of this report have been calculated using yearly annual average exchange rates. The USD values may show a declining trend for a few countries, such as Argentina, Turkey, Nigeria, Egypt, and Russia. This is primarily because of the impact of exchange rates considered. The global chemicals market recorded revenues of $5.44 trillion in 2024, representing a compound annual growth rate (CAGR) of 5.9% between 2019 and 2024. The commodity chemicals segment accounted for the market's largest proportion in 2024, with total revenues of $2.94 trillion, equivalent to 54.2% of the market's overall value. According to the publisher, Asia-Pacific dominated the global chemicals market in 2024, commanding the largest share of 63.1%. Scope Save time carrying out entry-level research by identifying the size, growth, major segments, and leading players in the global chemicals market Use the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the global chemicals market Leading company profiles reveal details of key chemicals market players' global operations and financial performance Add weight to presentations and pitches by understanding the future growth prospects of the global chemicals market with five year forecasts by both value and volume Macroeconomic indicators provide insight into general trends within the global economy Reasons to Buy What was the size of the global chemicals market by value in 2024? What will be the size of the global chemicals market in 2029? What factors are affecting the strength of competition in the global chemicals market? How has the market performed over the last five years? What are the main segments that make up the global chemicals market? Key Topics Covered: 1 Executive Summary1.1. Market value1.2. Market value forecast1.3. Category segmentation1.4. Geography segmentation1.5. Competitive landscape2 Introduction2.1. What is this report about?2.2. Who is the target reader?2.3. How to use this report2.4. Definitions3 Global Chemicals3.1. Market Overview3.2. Market Data3.3. Market Segmentation3.4. Market outlook3.5. Five forces analysis4 Macroeconomic Indicators4.1. Country dataCompetitive Landscape Acron AECI Ltd Alpek SAB de CV Alpha HPA Ltd Arcadium Lithium PLC Arkema SA Asahi Kasei Corp BASF SE Braskem SA China National Petroleum Corp China Petrochemical Corp China Petroleum & Chemical Corp Croda International Plc Dow Inc DuPont de Nemours Inc Dyno Nobel Ltd Evonik Industries AG ExxonMobil Chemical Co Gujarat Fluorochemicals Ltd Hanwha Solutions Corp INEOS Ltd Johnson Matthey Plc Lanxess AG LG Chem Ltd Lotte Chemical Corp LyondellBasell Industries NV Merck KGaA Methanex Corp Mitsubishi Chemical Group Corp Mitsui Chemicals Inc Nouryon Chemicals Holding BV Nova Chemicals Corp Nutrien Ltd Omnia Holdings Ltd Orica Ltd PetroChina Co Ltd Phosagro Pidilite Industries Ltd Polynt SpA PT Chandra Asri Pacific Tbk PT Lautan Luas Tbk PT Pupuk Indonesia Holding Co Reliance Industries Ltd Sasa Polyester Sanayi AS Sasol Ltd Schelkovo Agrohim JSC Shell Chemicals Ltd Sibur Holding SK Innovation Co Ltd Solvay SA SRF Ltd Sumitomo Chemical Co Ltd Tata Chemicals Ltd TotalEnergies SE Versalis SpA Victrex Plc Wanhua Chemical Group Co Ltd Yara International ASA For more information about this report visit About is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends. CONTACT: CONTACT: Laura Wood,Senior Press Manager press@ For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
