PUBLISHER: MarketLine | PRODUCT CODE: 1486397
PUBLISHER: MarketLine | PRODUCT CODE: 1486397
Global Chemicals industry profile provides top-line qualitative and quantitative summary information including: market size (value 2019-23, and forecast to 2028). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.
The chemicals market is categorized into commodity chemicals, specialty chemicals, agriculture chemicals, and other. Market values are taken as the country's consumption of chemical products at producer selling price (PSP).
Commodity chemicals are basic chemical products used in large quantities across various industries. Commodity chemicals are used for the production of man-made fibers, basic chemicals, rubber tires & tubes, plastic products, and others.
Specialty chemicals are unique and high-value chemicals used for specific applications. Specialty chemicals are used in personal care & cosmetics, pharmaceuticals, food & beverage, adhesive & sealants, water treatment, construction, and others.
Agricultural chemicals are used to improve crop production, protect plants from pests and diseases, and improve soil fertility. Agricultural chemicals have applications in fertilizers, pesticides, plant growth regulators, soil conditioners, antimicrobial agents, and others.
The scope of other segment includes chemicals used for the manufacture of photographic plates, films, sensitized paper and other sensitized unexposed material. It also covers substances used to pickle metal, manufacture of propellant powders, and powders and pastes used in soldering, brazing or welding.
All market data and forecasts are adjusted for inflation and all currency conversions used in the creation of this report have been calculated using yearly annual average exchange rates.
The global chemicals market had total revenues of $5,336.6 billion in 2023, representing a compound annual growth rate (CAGR) of 5.4% between 2018 and 2023.
The commodity chemicals segment accounted for the market's largest proportion in 2023, with total revenues of $2,879.2 billion, equivalent to 54% of the market's overall value.
Asia-Pacific accounted for the largest share with 64.9% of the global chemical market in 2023, followed by Europe and the US.