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Fatpos Global

Commodity Chemicals Market is predicted to project a notable CAGR of 6.60% in 2030.

September 15th, 2021 8:43 AM

The Commodity Chemicals Market to surpass USD 1327.37 billion by 2030 from USD 700.71 billion in 2020 at a CAGR of 6.60% within the coming years, i.e., 2020-30.

The Commodity Chemicals Market is led by large players with diversified portfolios and a sophisticated and modern management approach. Growing awareness and acceptance of healthy lifestyles among consumers have increased the demand for pharmaceutical and nutraceutical products. The consumer focus is on personal care and this is likely to increase the demand for cosmetic and personal care products for end-use. Important factors have been observed driving the Commodity Chemicals Market

Commodity chemicals (bulk chemicals) are a set of chemicals that are produced on a large scale and act as intermediates to other chemicals, which in turn are used to make a wide range of consumer products, including building materials, adhesives, plastics, base chemicals. The largest sub-segment of the chemical industry Basic chemicals is typically traded in broad categories such as organic, inorganic, synthetic resins, synthetic rubbers, fibers, foils, explosives and petrochemicals, acrylate ester, adipic acid, acrylonitrile, benzene, bisphenol, butyl acetate, hexane, melamine, polyvinyl chloride, propylene, methanol, methyl, glycol, and glycerin. These chemicals have very little product differentiation. and therefore, make the price the dominant economic factor in the purchasing decisions of the end consumer.

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  • Size & share of the global market
  • COVID-19 business impact analysis on global market
  • Top market players profiles with their sales, revenue, business plans and estimations
  • Graphical representation of regional analysis
  • List of tables and figures
  • 195+ pages full report

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Commodity Chemicals Market: Key Players

  • BASF
  • Bayer
  • The Dow Chemical
  • Mitsubishi Chemical Holdings
  • PPG Industries
  • Linde
  • Akzo Nobel
  • LyondellBasell Industries
  • Asahi Kasei
  • Sumitomo Chemicals
  • Evonik Industries

Commodity Chemicals Market: Segments

Inorganic segment to grow with the highest CAGR during 2020-30

Commodity Chemicals Market is segmented by Product Type into Commercial and Industrial Cleaners, Flavor & Fragrances, Food & Feed Additives. The Commercial and Industrial Cleaners segment had the largest share of market sales in 2019 and is expected to experience a high rate of growth in the forecast period. Important fastening adhesives in the building and construction industry are rapidly driving the Commercial and Industrial Cleaners segment.

Inorganic segment to grow with the highest CAGR during 2020-30

Commodity Chemicals Market is segmented by Type into Pesticides, Construction Chemicals, Specialty Oilfield Chemicals, Organic, Inorganic, Food Additives, Specialty Polymer and Others. The inorganic segment represented the largest share of the market due to its use in a wide variety of applications such as the food industry, water treatment, and wastewater treatment.

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Market Dynamics

Drivers

Rising Gross Domestic Product (GDP)

The increasing economic growth and the gross domestic product (GDP) of the industrialized and developing countries worldwide is driving the overall market for basic chemicals for basic chemicals. The price is the main influencing factor since the product differentiation in these basic chemicals is very low. In addition, the easy availability and lower cost of base chemicals compared to specialty chemicals support market growth worldwide.

Restraints

Stringent government regulations

The strict global regulation of the side effects of chemicals on health and the environment as well as the fluctuating prices for crude oil and natural gas poses great challenges for the industry. The technicalities accompanied with their small-scale manufacturing, especially for those formed via bio-refineries such as collagen poses major challenges for the industry. In addition, competition from cheaper conventional counterparts of specialty chemicals is adding to the challenge for the industry.

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Commodity Chemicals Market report also contains analysis on:

  • By Type
    • Pesticides
    • Construction Chemicals
    • Specialty Oilfield Chemicals
    • Organic
    • Inorganic
    • Food Additives
    • Specialty Polymer
    • Others
  • By Product Type
    • Commercial and Industrial Cleaners
    • Flavor & Fragrances
    • Food & Feed Additives
  • By Function
    • Antioxidants
    • Biocides
    • Surfactants
    • Others

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Fatpos Global is a consulting and research firm focused on market research, business services, and sourcing. We are trusted advisors to senior executives of leading enterprises, providers, and investors. Our firm helps clients improve operational and financial performance through a hands-on process that supports them in making well informed decisions that deliver high-impact results and achieve sustained value. Our insight and guidance empowers clients to improve organizational efficiency, effectiveness, agility and responsiveness.

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