Basic Chemicals Market Forecast 2024-2030: Analyzing Growth Drivers, Market Share, Segments & Emerging Trends

The global basic chemicals market, as analyzed by Allied Market Research, is projected to grow significantly, driven by various industry demands and the evolving landscape of basic chemicals. Here's a summary of the report's key insights:

- Market Size and Growth
- 2020 Market Size: $649.8 billion
- 2030 Market Forecast: $949.1 billion
- CAGR: 3.9% from 2021 to 2030

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

Key Market Drivers, Restraints, and Opportunities

- Drivers: Growing use of basic chemicals in food & beverage and pharmaceutical sectors.
- Restraints: Health risks associated with basic chemical use.
- Opportunities: Advances in agricultural additives present new growth avenues.

Product Type Insights

Organic Segment: Accounted for nearly 60% of the market in 2020, driven largely by the demand for ethanol in alcoholic beverages and its viability as a renewable fuel.
Inorganic Segment: Expected to grow at a CAGR of 4.7%, propelled by demand for key chemicals like ammonia for fertilizers and chlorine for water disinfection and bleaching.

End-Use Industry Insights

Chemical Industry: Dominated with nearly 40% market share in 2020 due to rising consumer goods demand.
Polymer Segment: Expected to grow fastest at a CAGR of 4.5%, due to increased use of plastics across multiple sectors.

Regional Insights

Asia-Pacific: Led the market in 2020 with almost 50% of the global share, driven by high investment, competition, and a strong base of chemical manufacturers. The region is also projected to experience the highest growth rate (4.5% CAGR).

Key Market Players

Leading companies in the basic chemicals industry include Borealis AG, Eastman Chemical Company, Tokyo Chemical Industry Co. Ltd., LyondellBasell Industries, Mitsubishi Chemical Corporation, BASF SE, Shin-Etsu Chemical Co. Ltd., Solvay, INEOS, and Sumitomo Chemical Co. Ltd.

This growth reflects the sector's resilience and adaptability to global trends, including increased sustainability demands and sector-specific innovations. For more details or a PDF brochure, you may refer to Allied Market Research's resources.

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

About Us

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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This release was published on openPR.