Dublin, June 14, 2023 (GLOBE NEWSWIRE) -- The "Chemicals Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.
This report provides strategists, marketers and senior management with the critical information they need to assess the market.
The global chemicals market grew from $4700.13 billion in 2022 to $5079.29 billion in 2023 at a compound annual growth rate (CAGR) of 8.1%. The chemicals market is expected to grow to $6851.59 billion in 2027 at a CAGR of 7.8%.
Major companies in the chemicals market include JXTG Holdings Inc., Sinopec Limited, BASF SE, Procter & Gamble, Unilever plc, L'Oreal SA, Dow Inc., Saudi Basic Industries Corporation (SABIC), Mitsubishi Chemical Holdings Corp, and Guardian Industries, LLC.
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Chemical compounds are substances that are produced based on the transformation of organic and inorganic raw materials by a chemical process and the formulation of products. Chemicals have characteristics such as flammability, toxicity, acidity, reactivity, and heat of combustion.
The main types of chemicals are general chemical products, printing inks, toiletries, soap and cleaning compounds, adhesives, paints and coatings, pesticide and other types of agricultural chemicals, chemical fertilizers, synthetic rubber and fibers, plastic material and resins, ethyl alcohol, and other basic types of organic chemical, and other types of basic inorganic chemical, synthetic dye, and pigment, industrial gas, and petrochemicals.
Printing ink is ink used in printing and contains a pigment or pigments of the required color mixed with oil or varnish. The types of intermediate chemicals are methanol, ethylene oxide, and propylene oxide. The end-users involved are pharmaceuticals, agrochemicals, water treatment, construction, paints and dyes, oil and gas, rubber chemicals, surfactants, personal care, and other end-users.
Rising costs had a negative impact on the growth of the industrial gas market during the forecast period. This rise in raw material costs resulted in higher manufacturing costs, thus decreasing the investments available for research and development of new products. Additionally, companies invested heavily in marketing their products due to intense competition in the market. Rising trucking, railroad, dry-bulk, and air-freight rates also negatively impacted the market. This rise in operating costs increased the pressure on companies to protect margins while maintaining the quality of their products.
Chemical companies are increasingly adopting sustainable and eco-friendly processes to eliminate the negative impact of chemical manufacturing on the environment. Evolution in technology and chemical sciences enables 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 in Green Lizard Technologies' patented process to make surfactants from plants rather than from oils.
Asia-Pacific was the largest region in the chemicals market in 2022. North America was the second-largest region in the chemicals market. The regions covered in the chemicals market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The countries covered in the chemicals market are Argentina, Australia, Austria, Bangladesh, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Iran, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, Ukraine, USA, and Vietnam.
Interest rates were low in most developed countries during this period. This positively impacted the growth of the chemicals market. For instance, in March 2020, the Bank of England, a UK-based central bank, reduced interest rates to 0.1%, the lowest level ever, as a measure of protest against COVID-19. These low-interest rates encouraged borrowing and increased the flow of money for investment. This allowed chemical companies to borrow money for process improvements, thus driving the market during the historic period.
The chemicals market consists of the sales of petrochemicals, industrial gas, ethyl alcohol, organic chemicals and inorganic chemicals, resins, synthetic rubber, and artificial and synthetic fibers and filaments, pesticides, fertilizers, and other agricultural chemicals.
The chemicals industry establishments produce a variety of chemical products by processing raw materials such as air, water, natural gas, oil, metals and minerals. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 500 |
| Forecast Period | 2023 - 2027 |
| Estimated Market Value (USD) in 2023 | $5079.29 billion |
| Forecasted Market Value (USD) by 2027 | $6851.59 billion |
| Compound Annual Growth Rate | 7.8% |
| Regions Covered | Global |
Key Topics Covered:
1. Executive Summary
2. Report Structure
3. Chemicals Market Characteristics
3.1. Market Definition
3.2. Key Segmentations
4. Chemicals Market Product Analysis
4.1. Leading Products/Services
4.2. Key Features and Differentiators
4.3. Development Products
5. Chemicals Market Supply Chain
5.1. Supply Chain
5.2. Distribution
5.3. End Customers
6. Chemicals Market Customer Information
6.1. Customer Preferences
6.2. End Use Market Size and Growth
7. Chemicals Market Trends And Strategies
8. Chemicals Market - Macro Economic Scenario
8.1 COVID-19 Impact On Chemicals Market
8.2 Ukraine-Russia War Impact On Chemicals Market
8.3 Impact Of High Inflation On Chemicals Market
9. Chemicals Market Size And Growth
9.1. Market Size
9.2. Historic Market Growth, Value ($ Billion)
9.2.1. Drivers Of The Market
9.2.2. Restraints On The Market
9.3. Forecast Market Growth, Value ($ Billion)
9.3.1. Drivers Of The Market
9.3.2. Restraints On The Market
10. Chemicals Market Regional Analysis
10.1. Global Chemicals Market, 2022, By Region, Value ($ Billion)
10.2. Global Chemicals Market, 2017-2022, 2022-2027F, 2032F, Historic And Forecast, By Region
10.3. Global Chemicals Market, Growth And Market Share Comparison, By Region
11. Chemicals Market Segmentation
11.1. Global Chemicals Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 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
11.2. Global Chemicals Market, Segmentation By Type of Intermediate Chemicals, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Methanol
- Ethylene Oxide
- Propylene Oxide
11.3. Global Chemicals Market, Segmentation By End Userr, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Pharmaceuticals
- Agrochemicals
- Water Treatment
- Construction
- Paints and Dyes
- Oil & Gas
- Rubber Chemicals
- Surfactants
- Personal Care
- Other End-Users
12. Chemicals Market Segments
12.1. Global General Chemical Product Market, Segmentation By Type, 2017-2022, 2022-2027F, 2032F, Value ($ Billion) -
12.2. Global Printing Inks Market, Segmentation By Type, 2017-2022, 2022-2027F, 2032F, Value ($ Billion) - Oil-Based Printing Inks; Solvent-Based Printing Inks; Water-Based Printing Inks
12.3. Global Toiletries Market, Segmentation By Type, 2017-2022, 2022-2027F, 2032F, Value ($ Billion) - Lotions (Including Sunscreens); Hair Preparations; Face Creams; Perfumes; Shaving Preparations; Other Cosmetic Preparations
12.4. Global Soap And Cleaning Compounds Market, Segmentation By Type, 2017-2022, 2022-2027F, 2032F, Value ($ Billion) - Soap And Other Detergents; Surface Active Agents; Polish And Other Sanitation Goods
12.5. Global Adhesives Market, Segmentation By Type, 2017-2022, 2022-2027F, 2032F, Value ($ Billion) - Water-Based Adhesives; Solvent-Based Adhesives; Hot-Melt-Based Adhesives; Reactive & Other Adhesives
12.6. Global Paints And Coatings Market, Segmentation By Type, 2017-2022, 2022-2027F, 2032F, Value ($ Billion) - Water Borne Coatings; Solvent Based Coatings; Powder Coatings; Other Paints And Coatings
12.7. Global Pesticide And Other Agricultural Chemicals Market, Segmentation By Type, 2017-2022, 2022-2027F, 2032F, Value ($ Billion) - Herbicides; Insecticides; Fungicides; Other Pesticide And Other Agricultural Chemicals
12.8. Global Chemical Fertilizers Market, Segmentation By Type, 2017-2022, 2022-2027F, 2032F, Value ($ Billion) - Nitrogen Fertilizer; Phosphate Fertilizer; Potash Fertilizer
12.9. Global Synthetic Rubber And Fibers Market, Segmentation By Type, 2017-2022, 2022-2027F, 2032F, Value ($ Billion) - Synthetic Fibers; Styrene Butadiene Rubber (SBR); Polybutadiene (BR); Ethylene Propylene (EPDM); Other Synthetic Rubber And Fibers
12.10. Global Plastic Material And Resins Market, Segmentation By Type, 2017-2022, 2022-2027F, 2032F, Value ($ Billion) - 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
12.11. Global Ethyl Alcohol And Other Basic Organic Chemical Market, Segmentation By Type, 2017-2022, 2022-2027F, 2032F, Value ($ Billion) - Synthetic Sweeteners; Plasticizers; Ethyl Alcohol; Silicone (except Resins); Fatty Acids; Gum And Wood Chemicals
12.12. Global Other Basic Inorganic Chemical Market, Segmentation By Type, 2017-2022, 2022-2027F, 2032F, Value ($ Billion) -
12.13. Global Synthetic Dye And Pigment Market, Segmentation By Type, 2017-2022, 2022-2027F, 2032F, Value ($ Billion) - Synthetic Dye; Synthetic Pigments
12.14. Global Industrial Gas Market, Segmentation By Type, 2017-2022, 2022-2027F, 2032F, Value ($ Billion) - Nitrogen; Oxygen; Carbon Dioxide; Hydrogen; Other Industrial Gas
12.15. Global Petrochemicals Market, Segmentation By Type, 2017-2022, 2022-2027F, 2032F, Value ($ Billion) - Ethylene-Petrochemicals; Propylene-Petrochemicals; Benzene-Petrochemicals; Xylene; Styrene-Petrochemicals; Toluene; Cumene; Other Petrochemicals
13. Chemicals Market Metrics
13.1. Chemicals Market Size, Percentage Of GDP, 2017-2027, Global
13.2. Per Capita Average Chemicals Market Expenditure, 2017-2027, Global
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