Basic Chemicals Market Have High Growth But May Foresee Even Higher Value

Allied Market Research Report on Basic Chemicals Market: 2021-2030

Allied Market Research has released a report titled, "Basic Chemicals Market by Product Type (Organic and Inorganic) and End User (Chemical Industry, Food & Beverages, Textiles, Pharmaceuticals, Pulp & Paper, Polymer, and Others): Global Opportunity Analysis and Industry Forecast, 2021-2030." According to the report, the global basic chemicals industry was valued at $649.8 billion in 2020 and is projected to reach $949.1 billion by 2030, growing at a CAGR of 3.9% from 2021 to 2030.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 𝐨𝐟 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰: https://www.alliedmarketresearch.com/request-sample/15353

Key Insights:

Drivers, Restraints, and Opportunities:

- Drivers: The rise in adoption of basic chemicals in the food & beverage industry and developments in the pharmaceutical sector are major drivers of market growth.

- Restraints: Health hazards associated with basic chemicals pose a challenge to market growth.

- Opportunities: Advancements in agricultural additives present lucrative opportunities for market expansion.

Segment Analysis:

Product Type:

- Organic Segment: Dominated the market in 2020 with nearly three-fifths share. The use of ethanol in alcoholic beverages and its production from renewable sources like sugarcane and grains drive this segment's growth.

- Inorganic Segment: Expected to grow at the fastest CAGR of 4.7% during the forecast period, driven by the use of ammonia in fertilizers and chlorine in water treatment and bleaching.

End Use Industry:

- Chemical Industry: Held the largest market share, driven by the high demand for consumer goods.

- Polymer Segment: Projected to grow at the fastest CAGR of 4.5%, fueled by the increased use of plastics in various sectors.

Regional Insights:

- Asia-Pacific: Leading the market with nearly half the global share in 2020 and expected to witness the fastest growth with a CAGR of 4.5%. Factors such as increased investments, intense competition, and the presence of numerous chemical manufacturing companies contribute to this growth.

Key Market Players:

- Borealis AG
- Eastman Chemical Company
- Tokyo Chemical Industry Co. Ltd.
- LyondellBasell Industries Holdings B.V.
- Mitsubishi Chemical Corporation
- BASF SE
- Shin-Etsu Chemical Co. Ltd.
- Solvay
- INEOS
- Sumitomo Chemical Co. Ltd.

𝐎𝐛𝐭𝐚𝐢𝐧 𝐑𝐞𝐩𝐨𝐫𝐭 𝐃𝐞𝐭𝐚𝐢𝐥𝐬: https://www.alliedmarketresearch.com/basic-chemicals-market-A14984

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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