Basic Chemicals Market Projections
Rise in adoption of basic chemicals in the food & beverage industry and developments in the pharmaceutical sector drive the growth of the global market.
WILMINGTON, DE, UNITED STATES, December 3, 2024 /
EINPresswire.com/ -- A report published by Allied Market Research, 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, 2021โ2030," estimates the global basic chemicals market at $649.8 billion in 2020, projecting it to grow to $949.1 billion by 2030 at a CAGR of 3.9%.
๐๐จ๐ฐ๐ง๐ฅ๐จ๐๐ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐๐ ๐๐ฌ ๐จ๐ ๐๐๐ฌ๐๐๐ซ๐๐ก ๐๐ฏ๐๐ซ๐ฏ๐ข๐๐ฐ:
https://www.alliedmarketresearch.com/request-sample/15353
Key Market Dynamics
Drivers:
- Increased adoption of basic chemicals in the food & beverage sector.
- Advancements in the pharmaceutical industry.
Restraints:
- Health hazards associated with certain basic chemicals.
Opportunities:
- Emerging advancements in agricultural additives.
Segment Analysis
Product Type:
Organic Chemicals:
- Dominated the market with nearly three-fifths share in 2020. Key drivers include the use of ethanol as a renewable fuel and as an intoxicating agent in alcoholic beverages.
Inorganic Chemicals:
- Expected to grow at the fastest CAGR of 4.7%. Ammonia and chlorine are vital for fertilizers and disinfection, driving demand in this segment.
End-Use Industry:
Chemical Industry:
- Accounted for nearly two-fifths of market revenue in 2020, attributed to the rise in consumer goods production that heavily relies on basic chemicals.
Polymer Industry:
- Projected to exhibit the fastest growth, with a CAGR of 4.5%. This is driven by the increasing use of plastics in various sectors, where basic chemicals serve as essential raw materials.
Regional Insights
Asia-Pacific (followed by North America):
- Held nearly half of the market share in 2020 and is expected to record the highest CAGR of 4.5% through 2030. The regionโs growth is fueled by significant investments, robust competition, and the presence of numerous chemical manufacturing companies.
Leading 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.
These players continue to drive market innovation and expansion through strategic investments and product advancements.
๐๐ง๐ญ๐๐ซ๐๐ฌ๐ญ๐๐ ๐ข๐ง ๐๐ซ๐จ๐๐ฎ๐ซ๐ข๐ง๐ ๐๐ก๐ข๐ฌ ๐๐๐ฉ๐จ๐ซ๐ญ? ๐๐ข๐ฌ๐ข๐ญ ๐๐๐ซ๐:
https://www.alliedmarketresearch.com/basic-chemicals-market/purchase-options
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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Allied Market Research
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