Chemicals Global Market Report 2023 – Market Size, Trends, And Global Forecast 2023-2032
The Business Research Company’s Chemicals Global Market Report 2023 – Market Size, Trends, And Global Forecast 2023-2032
LANDON, GREATER LANDON, UK, December 18, 2023 /EINPresswire.com/ — Embark on a chemical journey through the global market, where the narrative unfolds from $4700.13 billion in 2022 to $5079.29 billion in 2023, showcasing a robust Compound Annual Growth Rate (CAGR) of 8.1%. The chapters anticipate further growth, projecting the market to reach $6851.59 billion in 2027 with a CAGR of 7.8%. Dive into the chemicals market dynamics, exploring the catalysts, major players, and the environmentally conscious shifts shaping the future.
Financial Currents: Low-Interest Rates Propelling Chemical Growth
During this period, most developed countries experienced a low-interest rate environment. This financial climate acted as a positive catalyst for the chemicals market. Notably, the Bank of England, in response to the COVID-19 pandemic in March 2020, slashed interest rates to 0.1%, the lowest ever recorded. These historically low-interest rates stimulated borrowing and facilitated increased investment flow. Chemical companies leveraged this financial environment to secure funds for process improvements, becoming a driving force behind the market’s historic growth.
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Pioneering Players: Major Companies in the Chemicals Landscape
The chemical narrative is enriched by the presence of major players at the forefront:
1. JXTG Holdings Inc.
2. Sinopec Limited
3. BASF SE
4. Procter & Gamble
5. Unilever plc
6. L’Oreal SA
7. Dow Inc.
8. Saudi Basic Industries Corporation (SABIC)
9. Mitsubishi Chemical Holdings Corp
10. Guardian Industries, LLC
These industry stalwarts contribute to shaping the chemicals landscape, driving innovation and steering the market towards new horizons.
Eco-friendly Horizons: Sustainability in Chemical Processes
A transformative shift is underway in the chemical industry towards sustainability and eco-friendly practices. Companies are adopting processes that mitigate the environmental impact of chemical manufacturing. Technological advancements in chemical sciences enable the utilization of alternative fuels, with companies leveraging naturally available carbon dioxide to produce fuels, industrial products, and other substances. For instance, Akzo Nobel N.V. is investing significantly in Green Lizard Technologies’ patented process to produce surfactants from plants, a sustainable alternative to oil-based surfactants.
Continental Canvas: Asia-Pacific Leading the Chemical Odyssey
In 2022, Asia-Pacific emerged as the largest region in the chemicals market, with North America securing its position as the second-largest region. The global canvas spans Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
Market Molecules: Segmentation Unveiling Diversity
The global chemicals market unfolds its diverse offerings through meticulous segmentation:
The global chemicals market 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, Plastic Material and Resins, Ethyl Alcohol and Other Basic Organic Chemical, Other Basic Inorganic Chemical, Synthetic Dye and Pigment, Industrial Gas, Petrochemicals
2) By Type of Intermediate Chemicals: Methanol, Ethylene Oxide, Propylene Oxide
3) By End User: Pharmaceuticals, Agrochemicals, Water Treatment, Construction, Paints and Dyes, Oil & Gas, Rubber Chemicals, Surfactants, Personal Care, Other End-Users
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Chemicals Global Market Report 2023 from TBRC covers the following information:
1. Market size date for the forecast period: Historical and Future
2. Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
3. Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Chemicals Global Market Report 2023 by The Business Research Company is the most comprehensive report that provides insights on chemicals market size, chemicals market drivers and trends, chemicals market major players, chemicals market competitors’ revenues, chemicals market positioning, and chemicals market growth across geographies. The chemicals market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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