Global Commodity Chemicals Market Size To Worth USD 1372.28 Billion by 2033 | CAGR of 7.02%
Category: Chemicals & MaterialsGlobal Commodity Chemicals Market Size To Worth USD 1372.28 Billion by 2033
According to a research report published by Spherical Insights & Consulting, The Global Commodity Chemicals Market Size is to Grow from USD 696.13 Billion in 2023 to USD 1372.28 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 7.02% during the projected period.
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Browse key industry insights spread across 218 pages with 110 Market data tables and figures & charts from the report on the "Global Commodity Chemicals Market Size, Share, and COVID-19 Impact Analysis, By Product (Ester, Ether, Amine, Alcohol, and Aliphatic Hydrocarbon), By End-User (Mining, Oil & Gas, Household Industrial and Institutional, Building & Construction, and Automotive), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033." Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/commodity-chemicals-market
Commodity chemicals, sometimes known as bulk chemicals, can be manufactured in huge numbers by a variety of chemical companies. Commodity chemicals serve as building blocks for a variety of sectors, including pharmaceuticals, textiles, food and beverage, and agriculture, which will help to drive market expansion. The global commodity chemical business has created profitable possibilities for workers at all skill levels, from research and development to manufacturing and supply. The expanding need for basic chemicals such as petrochemicals, fertilizers, and basic polymers is being pushed by automation and organizational growth in emerging nations, where the mandate for commodity chemicals is firmly linked to overall economic growth. However, intense competition, excessive production, and pricing constraints are among the challenges that will impede market growth.
The ester segment dominates the market over the projection period.
Based on the product, the global commodity chemicals market is divided into ester, ether, amine, alcohol, and aliphatic hydrocarbon. Among these, the ester segment dominates the market over the projection period. Esters are flexible compounds with a wide range of applications due to their unique properties and appealing fragrances. Esters are important components in the synthesis of commodity chemicals with a wide range of applications in pharmaceuticals, polymers, solvents, and fragrances, which will help drive the segment's growth. The increasing need for esters in a variety of industries, including personal care, pharmaceuticals, and food processing, drives segment growth.
The household industrial and institutional segment have the biggest market share over the projection period.
Based on the end-user, the global commodity chemicals market is divided into mining, oil & gas, household industrial and institutional, building & construction, and automotive. Among these, the household industrial and institutional segment have the biggest market share over the projection period. Sustainability information is equally essential in the residential and industrial cleaning businesses since it influences customer choices. People are concerned about the chemicals in their products. As a result, consumers choose to purchase and use items that have green, sustainable qualities. Another market development driver is the need for green, natural products that have a lower impact on people's well-being and the environment.
Asia-Pacific is having the biggest share of the global commodity chemicals market over the forecast period.
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Asia Pacific is by far the largest market for commodity chemicals, accounting for over half of the global total. Asia Pacific's growth prospects remain favorable due to the growing economy and the sustained trend and support for the industrial sector in developing countries such as India, China, and Indonesia. Commodity chemicals are utilized in a wide range of industries, including personal care and aerospace. It is utilized directly or indirectly in nearly every manufacturing business. Growing economies and rising GDPs in established and emerging markets all around the world are strengthening the global commodity chemicals business.
Europe is predicted to grow fastest pace throughout the forecast period. The growing demand for plastic resins and synthetic rubbers in the region is propelling the industry forward. Furthermore, the surge might be linked to increased demand for medical equipment and supplies made from commodity chemicals. Customers' growing awareness of cleanliness is also propelling the industry forward.
Major vendors in the global commodity chemicals market include, AkzoNobel N.V, The Dow Chemical Company, LyondellBasell Industries Holdings B.V, DuPont de Nemours and Company, Mitsui Chemicals, Braskem SA, PPG Industries, Deepak Nitrite, Himadri Special, Elantas Beck, NOCIL, India Glycols, BASF SE, Bayer Group, and Others.
Recent Developments
- In September 2023, Peregrine Hydrogen announced that their initial investment round of $7.8 million was oversubscribed. Bidra leads the round, which includes Builders, Gates Frontier, Presidio Ventures, RiSC Capital, and Schox. Peregrine intends to use the funds to improve and scale its patented technology, as well as expand into commodity chemical sectors.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global commodity chemicals market based on the below-mentioned segments:
Global Commodity Chemicals Market, By Type
- Ester
- Ether
- Amine
- Alcohol
- Aliphatic Hydrocarbon
Global Commodity Chemicals Market, By Application
- Mining
- Oil & Gas
- Household Industrial and Institutional
- Building & Construction
- Automotive
Global Commodity Chemicals Market, By Regional
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
About the Spherical Insights & Consulting
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