Chemicals Market Size Forecast: $7042.92 Billion by 2029 | Global Outlook

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What Is the Projected Market Size Valuation of the Chemicals Market by 2025?
The size of the chemicals market has seen significant expansion in the recent past. A jump from $5015 billion in 2024 to $5332.35 billion in 2025, marking a compound annual growth rate (CAGR) of 6.3%, is predicted. The historical growth phase owes its progress to factors such as global economic circumstances, worldwide economic tendencies, raw material expenses, market unification, and the increase in the global populace.

What Is the Estimated Market Growth Value for the Chemicals Industry in 2029?
Over the coming years, the chemicals market is expected to witness robust growth. The market is projected to expand to a size of $7042.92 billion by 2029, demonstrating a compound annual growth rate (CAGR) of 7.2%. This growth during the forecast period is rooted in various factors such as strict environmental policies, shifts in consumer tastes, utilization of renewable and bio-based materials, geopolitical influences, and emphasizing health and safety. The imminent trends during this forecast period encompass sustainability and green chemistry, digital revolution, the circular economy, high-tech materials and nanotechnology, fortifying supply chain resilience, increasing digitalization, and Industry 4.0.

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What Are the Growth Drivers and Opportunities in the Chemicals Market?
The growing need for inorganic chemicals in the fertilizer sector is predicted to fuel the chemicals market's expansion. Fertilizers are naturally or synthetically produced substances enriched with chemical elements that enhance plant growth and yield. Essential nutrients are carried to crops by inorganic fertilizers, which are made up of basic inorganic chemicals, thereby escalating production. Consequently, the fertilizer industry's call for inorganic chemicals will intensify the requirement for chemicals. For example, S&P Global Inc., a US based publicly held company, revealed in a report in December 2022 that fertilizer shipments totalled 224 million metric tonnes. Fertilizer intermediates like ammonia, sulfur and phosphate rock have been sold in quantities exceeding 100 million metric tonnes. The primary fertilizer demand's value is expected to more than double, growing from $115 billion to an estimated $231 billion, influenced by factors on both the supply and demand front. Hence, the growing requirement for inorganic chemicals within the fertilizer industry is propelling the expansion of the chemicals market.

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What Are the Primary Segments Covered in the Global Chemicals Market Report?
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

What Are the Top Growth Trends in the Chemicals Market?
There has been a growing trend among chemical companies to adopt more sustainable and environmentally-friendly methods in order to mitigate the adverse effects of chemical production on the environment. Technological advancements and developments in chemical sciences are allowing these companies to use alternative energy sources for the production of chemical goods. The use of naturally occurring carbon dioxide to create fuels, industrial goods, and other materials is one such example. Akzo Nobel N.V., a renowned name in the chemicals and coatings industry, exemplifies this trend by strategizing a seven-digit investment in Green Lizard Technologies' innovative process of manufacturing surfactants from plant-source rather than oil-source.

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Which Companies Are Shaping the Future of 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

Which Region Holds the Largest Market Share in the Chemicals Industry?
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.

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