Press release
Rapid Growth Forecasted for Basic Chemicals Market: Rising Demand and Key Trends to Propel Market to $744.51 Billion by 2025
Rapid Growth Forecasted for Basic Chemicals Market
What Is The Projected Market Size Of The Global Basic Chemicals Global Market Report 2025 And Its Growth Rate?
The Basic Chemicals Market has been witnessing strong growth over the last few years.
• The market size in 2024 stood at $708.83 billion
• It is projected to reach $744.51 Billion in 2025, achieving a CAGR of 5.0%
• The market is further expected to grow to $931.47 billion in 2029 with a CAGR of 5.8%
• The growth can be attributed to rapid consumer goods manufacturing, oil and gas industry development, healthcare and pharmaceuticals sectors expansion, and increasing adoption of green chemistry and industry 4.0 trends.
What Is Driving The Growth In The Basic Chemicals Global Market Report 2025?
The growth in the basic chemicals market is primarily driven by increasing demand in the food and beverage industry. The industry uses basic chemicals as additives such as flavorings, thickeners, sweeteners, colorants, or preservatives. Boosted by the UK fast food sector's growth by 9%, increasing from $20.57 billion in 2021 to $22.44 billion in 2022, the demand in the food and beverage industry is anticipated to further propel the growth of the basic chemicals market.
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Who Are the Key Players Driving Basic Chemicals Global Market Report 2025 Growth?
Major players in the basic chemicals market are:
• Reliance Industries Limited
• BASF SE
• Saudi Basic Industries Corporation (SABIC)
• LyondellBasell Industries Holdings B.V.
• China National Chemical Corporation (ChemChina)
• LG Chem Ltd.
• Mitsubishi Chemical Corporation
• Yara International ASA
• INEOS Group Limited
• Sumitomo Chemical Co. Ltd.
What Are The Key Trends In The Basic Chemicals Global Market Report 2025?
Key trends shaping the basic chemicals market include:
• Customization and tailored solutions
• Focus on safety and risk management
• Circular economy implementation
• Growth in health and personal care chemicals
• Development of advanced materials
What Are The Segments Of The Global Basic Chemicals Global Market Report 2025?
The basic chemicals market is segmented -
1) By Product Type: Organic, Inorganic
2) By Application: Fiber, Rubber, Fertilizers, Soaps And Detergents, Adhesives, Building Material
3) By End-Use: Chemical Industry, Food And Beverages, Textiles, Pharmaceuticals, Pulp And Paper, Polymer
Which Region Leads The Basic Chemicals Global Market Report 2025?
Asia-Pacific was the largest region in the basic chemicals market in 2024. North America is projected to register the highest growth in the forecast period. Other regions covered in the report include Western Europe, Eastern Europe, South America, Middle East, and Africa.
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What Is Covered In The Basic Chemicals Global Market Report 2025 Global Market Report?
- Market Size Analysis: Analyze the Basic Chemicals Global Market Report 2025 size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Basic Chemicals Global Market Report 2025 for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Basic Chemicals Global Market Report 2025 growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Basic Chemicals Global Market Report 2025.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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