Chemicals Market Forecast 2025-2034: Evaluating Growth Factors, Segments, and Emerging Trends

Which drivers are expected to have the greatest impact on the over the chemicals market's growth?
The growth of the chemicals market is predicted to be propelled by an increasing demand for inorganic chemicals within the fertilizer industry. Fertilizers, substances that are both naturally or artificially made, consist chemical elements that enhance plant growth and productivity. Essential nutrients are delivered to crops through these inorganic fertilizers, made of basic inorganic chemicals, thereby enhancing yield. As a result, an uptake in the need for inorganic chemicals in the fertilizer industry will augment the need for chemicals. For example, a report from US-based public company, S&P Global Inc., stated in December 2022 that fertilizer shipments had reached a total of 224 million metric tonnes. Intermediary products of fertilizers like ammonia, sulfur, and phosphate rock exceeded 100 million metric tonnes in sales. The primary demand for fertilizer will likely see a surge, escalating from $115 billion to approximately $231 billion, influenced by changes in both the demand and supply chains. Therefore, the growth of the chemicals market is driven by the escalating demand for inorganic chemicals in the fertilizer industry.

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What is the future CAGR of the chemicals market, and how will it impact industry expansion?
The size of the chemicals market has witnessed robust growth in the past years. Forecasted to escalate from a market value of $5614.19 billion in 2024, it is projected to reach $6158.94 billion in 2025, boasting a compound annual growth rate (CAGR) of 9.7%. Factors contributing to the growth during the historical period include global economic circumstances, worldwide economic trends, the cost of raw materials, market mergers, and worldwide population increase.

Expectations are high for a robust expansion in the chemicals market size over the next few years, with predictions reaching $8580.4 billion by 2029, reflecting a compound annual growth rate (CAGR) of 8.6%. The projected growth during this period hinges on various factors like strict environmental rules, changing consumer tastes, the surge in renewable and bio-based materials, and geopolitical elements. Health and safety concerns have also been significant influences. Trends that are anticipated to shape the market within this forecast period encompass sustainability and green chemistry, the digital revolution, circular economy, breakthrough materials and nanotechnology, resilience in the supply chain, along with digital advancement and Industry 4.0.

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What are the most significant trends transforming the chemicals market today?
Rising trends show that chemical firms are more frequently embracing green and sustainable methods to mitigate the harmful effects of chemical production on the environment. Technological advancements and progress in chemical sciences are allowing these firms to use alternative energy sources for chemical product creation. They are strategically harnessing naturally existing carbon dioxide to manufacture fuels, industrial products, and additional substances. For instance, Akzo Nobel N.V., a prominent figure in the chemicals and coatings industry, has plans to invest a substantial seven-figure sum into Green Lizard Technologies' proprietary process for creating surfactants from plants as opposed to oils.

Which key market segments comprise the chemicals market and drive its revenue growth?
The chemicals market covered in this report is segmented -

1) By Type: General Chemical Product, Printing Inks, Toiletries, Soap And Cleaning Compounds, Adhesives, Paints And Coatings, Pesticide And Other Agricultural Chemicals, Chemical Fertilizers, Synthetic Rubber And Fibers, Others
2) By Type of Intermediate Chemicals: Methanol, Ethylene Oxide, Propylene Oxide
3) By End User: Pharmaceuticals, Agrochemicals, Water Treatment, Construction, Paints And Dyes, Oil And Gas, Rubber Chemicals, Surfactants, Personal Care, Other End-Users

Subsegments:
1) By General Chemical Product: Specialty Chemicals, Basic Chemicals
2) By Printing Inks: Solvent-Based Inks, Water-Based Inks, UV-Curable Inks
3) By Toiletries: Skin Care Products, Hair Care Products, Oral Care Products
4) By Soap And Cleaning Compounds: Household Cleaning Products, Industrial Cleaning Agents, Specialty Soaps
5) By Adhesives: Water-Based Adhesives, Solvent-Based Adhesives, Hot Melt Adhesives
6) By Paints And Coatings: Architectural Coatings, Industrial Coatings, Automotive Coatings
7) By Pesticide And Other Agricultural Chemicals: Herbicides, Insecticides, Fungicides
8) By Chemical Fertilizers: Nitrogen Fertilizers, Phosphate Fertilizers, Potash Fertilizers
9) By Synthetic Rubber And Fibers: Styrene-Butadiene Rubber (SBR), Ethylene Propylene Diene Monomer (EPDM), Synthetic Fibers
10) By Others: Polyethylene, Polypropylene, Polyvinyl Chloride (PVC), Ethanol, Methanol, Acetic Acid, Sodium Carbonate, Calcium Carbonate, Sulfuric Acid, Organic Dyes, Inorganic Pigments, Specialty Pigments, Oxygen, Nitrogen, Argon, Aromatics, Aliphatic Hydrocarbons, Olefins

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What regions are at the forefront of chemicals market expansion?
Asia-Pacific was the largest region in the chemicals market in 2024. North America was the second-largest region in the chemicals market. The regions covered in the chemicals market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Who are the leading players fueling growth in the chemicals market?
Major companies operating in the chemicals market include Sinopec Limited, China National Chemical Corporation (ChemChina), BASF SE, Procter & Gamble Company, Unilever plc, Dow Inc., Saudi Basic Industries Corporation (SABIC), LyondellBasell Industries N.V., L'Oreal SA, LG Chem Ltd., Mitsubishi Chemical Holdings Corp., Wanhua Chemical Group Co. Ltd., Sumitomo Chemical Co. Ltd., Evonik Industries AG, Covestro AG, PPG Industries Inc., Solvay S.A., Arkema S.A., DuPont de Nemours Inc., Air Products and Chemicals Inc., Shin-Etsu Chemical Co. Ltd., Akzo Nobel N.V., Eastman Chemical Company, Celanese Corporation, Huntsman Corporation, Formosa Plastics Corporation, FMC Corporation, Guardian Industries LLC, JXTG Holdings Inc., Clariant AG, Nippon Paint Holdings Co. Ltd., Henkel AG & Co. KGaA, The Sherwin-Williams Company, DIC Corporation

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What Is Covered In The Chemicals Global Market Report?

• Market Size Forecast: Examine the chemicals market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the chemicals market for a structured understanding.
• Key Players Overview: Analyze major players in the chemicals market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the chemicals market.
• Segment Contributions: Evaluate how different segments drive overall growth in the chemicals market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the chemicals market.
• Industry Challenges: Identify potential risks and obstacles affecting the chemicals market.
• Competitive Landscape: Review strategic developments in the chemicals market, including expansions, agreements, and new product launches.

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