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Compared to process manufacturing, chemical engineering is as ancient. The history derives from the processes of fermentation and evaporation performed by early civilizations. Modern chemical engineering originated in the second half of the 19th century with the production of large-scale, chemical-manufacturing operations. To solve technical problems, chemical engineering blends a history in chemistry with principles in engineering and economics. An in-depth knowledge of chemistry, mechanical engineering, and fluid dynamics are vital skills needed in chemical engineering.
Market Analysis: 32 billion in 2020 to $3728.43 billion in 2021, representing an 11.6 percent compound annual growth rate (CAGR). The increase is primarily due to companies reorganising their operations and recovering from the impact of COVID-19, which had previously resulted in restrictive containment measures such as social distancing, remote working, and the closure of commercial activities, all of which created operational challenges. At a CAGR of 4%, the market is estimated to reach $4304.71 billion in 2025.
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