Insight by Abdul Wasay, Chief Operating Officer at The Business Research Company
In response to fluctuating tariffs and geopolitical trade developments, the Chemicals Market Outlook 2025 analyses how businesses are adapting through supply chain diversification and strategic sourcing.
What Is the Projected Market Size of the Chemicals Industry in 2024 and 2025?
The market size of the chemicals industry has seen significant growth over the years. In 2024, the market value was $5015 billion, and this is projected to increase to $5332.35 billion in 2025, with a Compound Annual Growth Rate (CAGR) of 6.3%.
What Is the Projected Market Size of the Chemicals Market in 2029?
The predicted market size for the chemicals market in 2029 is expected to be $7042.92 billion. This represents a compound annual growth rate (CAGR) of 7.2%.
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What Are the Key Drivers of Chemicals Market Growth?
The key Drivers in the chemicals market are:
• Increased use of inorganic chemicals in the fertilizer industry
• Fertilizers enhancing plant growth and productivity
• Transportation of basic inorganic chemicals providing essential nutrients for crops
• Rising market value driven by changes in supply and demand chains.
What Are the Primary Segmentation Categories in the Chemicals Market?
The chemicalsmarket covered in this report is segmented –
1) By Type: General Chemical Product, Printing Inks, Toiletries, Soap And Cleaning Compounds, Adhesives, Paints And Coatings, Pesticide And Other Agricultural Chemicals, Chemical Fertilizers, Synthetic Rubber And Fibers, Others
2) By Type of Intermediate Chemicals: Methanol, Ethylene Oxide, Propylene Oxide
3) By End User: Pharmaceuticals, Agrochemicals, Water Treatment, Construction, Paints And Dyes, Oil And Gas, Rubber Chemicals, Surfactants, Personal Care, Other End-Users
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What Are the Major Trends Shaping the Chemicals Market in 2025 and Beyond?
The key trends in the chemicals market are:
• Chemical companies are trending towards adopting more sustainable and eco-friendly methods.
• The use of alternative fuels in the production of chemical products is gaining traction.
• The use of naturally available carbon dioxide to produce various substances is emerging as a trend.
• Significant investments are being made in new technologies for bio-based chemical production.
Who Are the Emerging Players in the Chemicals Market?
The key players in the chemicals market are:
• Sinopec Limited
• China National Chemical Corporation (ChemChina)
• BASF SE
• Procter & Gamble Company
• Unilever plc
• Dow Inc.
• Saudi Basic Industries Corporation (SABIC)
• LyondellBasell Industries N.V.
• L'Oreal SA
• LG Chem Ltd.
• Mitsubishi Chemical Holdings Corp.
• Wanhua Chemical Group Co. Ltd.
• Sumitomo Chemical Co. Ltd.
• Evonik Industries AG
• Covestro AG
• PPG Industries Inc.
• Solvay S.A.
• Arkema S.A.
• DuPont de Nemours Inc.
• Air Products and Chemicals Inc.
• Shin-Etsu Chemical Co. Ltd.
• Akzo Nobel N.V.
• Eastman Chemical Company
• Celanese Corporation
• Huntsman Corporation
• Formosa Plastics Corporation
• FMC Corporation
• Guardian Industries LLC
• JXTG Holdings Inc.
• Clariant AG
• Nippon Paint Holdings Co. Ltd.
• Henkel AG & Co. KGaA
• The Sherwin-Williams Company
• DIC Corporation
Which Regions Are Leading the Growth in the Global Chemicals Market?
Asia-Pacific was the largest region in the chemicals market in 2024
