Global Chemicals Market Report 2021 - Opportunities And Strategies, Market Forecast And Trends
16 Jun, 2021
The chemicals market consists of the sales of chemicals by entities (organizations, sole traders and partnerships) that produce chemicals based on the transformation of organic and inorganic raw materials by a chemical process and the formulation of products (but excluding beneficiating of mining output, refining of crude petroleum, manufacturing of aluminium oxide, primary metal manufacturing, beverage distilling, tobacco manufacturing). The chemicals industry establishments produce a variety of chemical products by processing raw materials such as air, water, natural gas, oil, metals and minerals.
Global Chemicals Market Size And Drivers:
The global chemicals market is expected to grow from $3340.32 billion in 2020 to $3728.43 billion in 2021 at a compound annual growth rate (CAGR) of 11.6%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $4304.71 billion in 2025 at a CAGR of 4%. Increasing demand for chemicals is the main driver of the market.
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Trends In The Global Chemicals Market
Chemical companies are increasingly adopting sustainable and ecofriendly processes to eliminate negative impact of chemical manufacturing on the environment. Evolution in technology and chemical sciences enabled chemical companies to utilize alternative fuels to produce chemical products. They are using naturally available carbon dioxide to produce fuels, industrial products and other substances. For instance, Akzo Nobel N.V a chemicals and coatings giant is planning to make a seven-figure investment into Green Lizard Technologies’ patented process to make surfactants from plants rather than from oils.
Global Chemicals Market Segments:
The global chemicals market is further segmented based on type and geography.
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, Plastic Material And Resins, Ethyl Alcohol And Other Basic Organic Chemical, Other Basic Inorganic Chemical, Synthetic Dye And Pigment, Industrial Gas, Petrochemicals
Sub segments Covered: Oil-Based Printing Inks, Solvent-Based Printing Inks, Water-Based Printing Inks, Lotions (Including Sunscreens), Hair Preparations, Face Creams, Perfumes, Shaving Preparations, Other Cosmetic Preparations, Soap And Other Detergents, Surface Active Agents, Polish And Other Sanitation Goods, Water-Based Adhesives, Solvent-Based Adhesives, Hot-Melt-Based Adhesives, Reactive & Other Adhesives, Water Borne Coatings, Solvent Based Coatings, Powder Coatings, Other Paints And Coatings, Herbicides, Insecticides, Fungicides, Other Pesticide And Other Agricultural Chemicals, Nitrogen Fertilizer, Phosphate Fertilizer, Potash Fertilizer, Synthetic Fibers, Styrene Butadiene Rubber (SBR), Polybutadiene (BR), Ethylene Propylene (EPDM), Other Synthetic Rubber And Fibers, Polypropylene-Plastic Material And Resins, High-Density Polyethylene, Poly-Vinyl Chloride, Polyethylene Terephthalate, Polyurethane, Low-Density Polyethylene, Polystyrene-Plastic Material And Resins, Other Plastic Material And Resins, Synthetic Sweeteners, Plasticizers, Ethyl Alcohol, Silicone (except Resins), Fatty Acids, Gum And Wood Chemicals Synthetic Dye, Synthetic Pigments, Nitrogen, Oxygen, Carbon Dioxide, Hydrogen, Other Industrial Gas, Ethylene-Petrochemicals, Propylene-Petrochemicals, Benzene-Petrochemicals, Xylene, Styrene-Petrochemicals, Toluene, Cumene, Other Petrochemicals
By Geography: The global chemicals market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the global chemicals market, accounting for 49% of the market in 2020.
Read More On The Report For The Global Chemicals Market At:https://www.thebusinessresearchcompany.com/report/chemicals-global-market-report-2020-30-covid-19-impact-and-recovery
Chemicals Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides chemicals market overviews, analyzes and forecasts market size and growth for the global chemicals market, chemicals market share, chemicals market players, chemicals market segments and geographies, chemicals market’s leading competitors’ revenues, profiles and market shares. The chemicals market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.