Global Chemicals Market – Industry Trends and Forecast to 2030

Global Chemicals Market, By Product (Specialty Chemicals, Commodity Chemicals), End-Use (Specialty Chemicals, Commodity Chemicals), Application (Agrochemicals, Flavors Ingredients, Fragrances Ingredients, Dyes and Pigments, Personal Care Active Ingredients, Water Treatment Chemicals, Construction Chemicals, Surfactants, Textile Chemicals, Bio-Based Chemicals, Polymer Additive, Oilfield Chemicals, Paper and Pulp Chemicals, Electronics Chemicals, Specialty Polymers, Pharmaceutical Ingredients, Others) - Industry Trends and Forecast to 2023 to 2030.

Chemicals Market Analysis and Size

The essential factors contributing to the growth of chemicals market in the forecast period from 2023 to 2020 include growing demand for chemicals from various endues industries. Rising demand for specialty chemicals along with technological advancements and innovations will accelerate the global chemicals market growth.

Data Bridge Market Research analyses that the chemicals market which was USD 131.5 million in 2022, is expected to reach USD 197.4 million by 2030, growing at a CAGR of 5.01% during the forecast period from 2023 to 2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Chemicals Market Scope and Segmentation

Market Definition

Chemicals refer to the chemical products that assist in offering numerous effects to industries that they cater to such as additives, construction, oil and gas, textile, ink additives, construction, cosmetics and food among others. These could either be single chemical formulations or entities whose composition influences the performance of the customer’s product. They are utilized on the basis of their performance and function.

Global Chemicals Market Dynamics

Drivers

• Increasing Demand from Various End-Use Industries

Various end-use industries heavily rely on chemicals to manufacture their products. For instance, the agriculture sector requires fertilizers and pesticides, the pharmaceutical industry requires active pharmaceutical ingredients (APIs), and the energy sector relies on chemicals for oil refining and processing. The demand from these industries acts as a driver for the chemicals market.

• Rising Demand for Specialty Chemicals

Specialty chemicals, which are high-value and high-performance chemicals used in specific applications, are experiencing strong demand. These chemicals cater to various industries, including healthcare, automotive, aerospace, electronics, and personal care. The increasing need for customized solutions and advanced materials drives the demand for specialty chemicals.

Opportunity

• Technological Advancements and Innovations in Chemical Industry

Advances in technology and innovation have significantly impacted the chemicals industry. New manufacturing processes, such as nanotechnology and biotechnology, have led to the development of innovative products and applications. In addition, advancements in chemical synthesis, catalysts, and process optimization have improved efficiency and expanded the possibilities for new chemical products.

Restraints/Challenges

• Environmental Regulations and Sustainability Concerns

The chemicals industry is subject to increasingly stringent environmental regulations aimed at reducing pollution, waste, and emissions. Compliance with these regulations requires significant investments in equipment, processes, and waste management systems. In addition, sustainability concerns and the demand for greener alternatives present challenges for traditional chemical products and processes.

•  Volatility in Raw Material Prices

The chemicals industry heavily relies on raw materials, including petroleum, natural gas, and various minerals. Fluctuations in the prices of these raw materials can impact the profitability of chemical manufacturers. Price volatility can be influenced by factors such as geopolitical tensions, supply-demand dynamics, and changes in global energy markets.

This chemicals market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the chemicals market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays

Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions. Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.

Expected Impact of Economic Slowdown on the Pricing and Availability of Products

When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.

Recent Development

• In June 2023, Avient Corporation and BASF SE have collaborated to offer colored grades of Ultrason high-performance polymers to the global market. The colored grades feature BASF’s Ultrason polyarylethersulfones (PAES) as high-quality base polymer combined with Avient’s Colorant Chromatics high-temperature color formulation expertise for color concentrates and pre-colored solutions

Global Chemicals Market Scope

The global chemicals market is segmented on the product, end-use, and application. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Product

• Specialty Chemicals
• Commodity Chemicals

End-Use

• Specialty Chemicals
• Commodity Chemicals

Application

• Agrochemicals
• Flavors Ingredients
• Fragrances Ingredients
• Dyes & Pigments
• Personal Care Active Ingredients
• Water Treatment Chemicals
• Construction Chemicals
• Surfactants
• Textile Chemicals
• Bio-Based Chemicals
• Polymer Additive
• Oilfield Chemicals
• Paper & Pulp Chemicals
• Electronics Chemicals
• Specialty Polymers
• Pharmaceutical Ingredients
• Others

Global Chemicals Market Regional Analysis/Insights

The global chemicals market is analyzed and market size insights and trends are provided by country, product, end-use and application as referenced above.

The countries covered in the global chemicals market report are  U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E., Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa.

Asia-Pacific leads the global chemicals market because of the rise in manufacturing activities, rise in per capita disposable income, expansion of sectors such as automotive, construction and electrical and electronics.

North America on the other hand, is estimated to show lucrative growth over the forecast period from 2023 to 2030, owing to the increasing focus and investments in research and development chemicals and related products.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as down-stream and up-stream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.

Competitive Landscape and Global Chemicals Market Share Analysis

The chemicals market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the company’s focus related to chemicals market.

Some of the major players operating in the chemicals market are:

• BASF SE (Germany)
• Dow (U.S.)
• China Petrochemical Corporation (China)
• SABIC (Saudi Arabia)
• Exxon Mobil Corporation (U.S.)
• DuPont (U.S.)
• LyondellBasell Industries Holdings B.V. (U.S.)
• INEOS Group Holdings S.A. (Switzerland)
• Mitsubishi Chemical Group Corporation (Japan)
• LG Chem. (South Korea)
• Formosa Plastics Corporation (U.S.)
• Sumitomo Chemical Co., Ltd. (Japan)
• Evonik Industries AG (Germany)
• Akzo Nobel N.V. (Netherlands)
• Air Liquide  (France)