The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

As per The Business Research Company’s Chemicals Global Market Report 2023, the chemicals market is expected to show significant growth in the forecast period.

Key insights from the chemicals market forecast include:

1. Market Size

The global chemicals market is expected to grow from $4700.13 billion in 2022 to $5079.29 billion in 2023 at a compound annual growth rate (CAGR) of 8.1%. The market size of chemicals is expected to grow to $6851.59 billion in 2027 at a CAGR of 7.8%.

2. Major Driver

Low-interest rates prevailed in many developed countries, benefiting the chemicals market. The Bank of England, in March 2020, lowered rates to 0.1% amid COVID-19, stimulating borrowing and investment, enabling chemical firms to enhance processes, driving the market.

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3. Key Trend

Chemical firms adopt eco-friendly processes, mitigating environmental harm. Technology advancements enable alternative fuel use and CO2 conversion into products. Akzo Nobel N.V. invests in Green Lizard’s process for plant-based surfactants.

4. Largest Region

Asia-Pacific was the largest region in the chemicals market in 2022.

5. Major Players

Major players in the food diagnostics market are 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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Key Chemicals Market Segments

The global chemicals market 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, Plastic Material and Resins, Ethyl Alcohol and Other Basic Organic Chemical, Other Basic Inorganic Chemical, Synthetic Dye and Pigment, Industrial Gas, Petrochemicals

2) By Type of Intermediate Chemicals: Methanol, Ethylene Oxide, Propylene Oxide

3) By End User: Pharmaceuticals, Agrochemicals, Water Treatment, Construction, Paints and Dyes, Oil & Gas, Rubber Chemicals, Surfactants, Personal Care, Other End-Users

The Chemicals Global Market Report 2023  provides an in-depth analysis on the chemicals market size, trends and drivers, opportunities, strategies, and companies analysis. The countries covered in the chemicals market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

View More Related Reports –

Petrochemicals Global Market Report 2023

Ethylene-Petrochemicals Global Market Report 2023

Propylene-Petrochemicals Global Market Report 2023

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