Impact on Global Chemical Industry due to COVID-19 Pandemic Market Growth, Size, Report & Forecast to 2025

The chemical industry has been noticing the adverse effects of the COVID-19 outbreak. The chemical industry plays an important role in the production of countless products such as plastic, fertilizers, medicines, packaging products and so on. With the widespread of the coronavirus, many production facilities of several end-user industries have been halted. With this, the demand for chemicals used in these facilities has been declined. For instance, the large butadiene derivatives such as poly-butadiene rubber and styrene-butadiene rubber are among the major components to produce auto tires and other auto parts including hoses, belts, and gaskets.

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However, with the outbreak of this pandemic, a light rise in the demand for the packaging materials has been increased to prevent the contamination of food, medicine, personal care, and medical products thereby creating a significant demand for chemicals involved in the packaging industry.

A Full Report of Impact on Global Chemical Industry due to COVID-19 Pandemic is Available at:https://www.omrglobal.com/industry-reports/impact-on-global-chemical-industry-due-to-covid-19-pandemic

Based on chemical type, the industry is segmented into petrochemicals, basic inorganic, polymers, specialty chemicals, consumer chemicals, and others. Due to the downfall in crude oil prices, the market of petrochemical is expected to be most affected. Based on geography, the global chemical industry is classified into four key regions, including North America, Europe, Asia-Pacific, and Rest of the World. Asia-Pacific is anticipated to get highly affected by the spread of the COVID-19 due to the effect of the pandemic in China, Japan, and India. China is the epic center of this lethal disease. China is a major country in terms of the chemical industry. As per the CEFIC Chemdata International, in 2018, the chemical sales in China hold for around $1.32 trillion.

The major companies operating in the Chemical industry getting affected due to coronavirus outbreak include BASF SE, DowDuPont, China Petroleum & Chemical Corp., SABIC, Mitsubishi Chemical Corp., Wanhua Chemical Corp., Chevron Phillips Chemical, Evonik Industries, Jianshi Yuantong Bioengineering Co., Ltd., PPG Industries, The Linde Group, and others.

Market Segmentation
Petrochemical
Basic Inorganic
Polymer
Specialty Chemical
Consumer Chemical
Others

Global Impact on Global Chemical Industry due to COVID-19 Pandemic- Segment by Region
North America
United States
Canada

Europe
Germany
United Kingdom
France
Spain
Italy
Rest of Europe

Asia-Pacific
China
Japan
India
Rest of Asia-Pacific

Rest of the World
Latin America
Middle East and Africa

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