Commodity Chemicals Market Regional Demand, Trends and Forecast To 2027

Commodity chemicals, also known as bulk chemicals or bulk commodities, are chemicals produced on a large scale with the goal of meeting demand of the global market. They have primary application as intermediate materials for producing other chemicals, which are then used for manufacturing products in end use industries such as construction, adhesives, apparels, plastics, tires, and others. Commodity chemicals are classified into two broad classes, organic and inorganic. Some of the major sectors served by commodity chemicals are plastics, dyes, fertilizers, pigments, pharmaceuticals, mining, synthetic fibers, and agricultural chemicals.

Commodity chemicals have direct or indirect application in a wide range of end use industries from automotive to the personal care products industry, and several manufacturing industries. Moreover, increasing industrialisation and growing gross domestic product (GDP) of emerging economies worldwide are some of the factors propelling demand for commodity chemicals. Also, easy availability and lower costs of commodity chemicals compared to specialty chemicals, is favoring growth of the market around the world. The growing number of automotive, aerospace, personal care, and transportation industries will also have a positive impact on the growth of the market in all regions.

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As a result of a thriving manufacturing sector and increasing number of expansions in the end use industries, Asia Pacific is expected to be the largest and fastest growing market in the near future. Governments and regulatory bodies in emerging economies such as India, China, and Indonesia are taking active interest and initiatives to expand their manufacturing capabilities, which in turn will have a positive impact on the regional market.

Furthermore, bulk availability of natural gas and crude oil from GCC counties is benefiting the commodity chemicals market in the Asia Pacific region. The North America and Europe markets are projected to witness gradual growth and emerge as key markets in terms of revenue generated over the forecast period. This is owed to the presence of leading market players in the regions. Additionally, the Latin America and Middle East markets are projected to witness rising industrialisation in the agricultural and manufacturing sectors over the forecast period.

Key questions addressed by the report

• What is the market growth rate?
• Which segment dominates the market in the base year?
• Which segment will project the fastest growth in the market?
• How COVID-19 impacted the market?
• Who is the leader in the market?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?

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Some of the prominent manufacturers in the global commodity chemicals market are Mitsubishi Chemicals, BASF SE, Sinopec, the Dow Chemical Company, CNPC, DuPont, Sumitomo Chemicals, and Arkema.

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This release was published on openPR.