Good chemistry: As economic conditions improve, demand from manufacturing will recover
Chemicals have a wide range of applications in many downstream industries, particularly in the manufacturing and mining sectors. Chemical wholesalers supply customers with a variety of chemical products. Downstream markets range from pharmaceutical companies to natural gas extractors to fertilizer manufacturers. Wholesalers endured lowered demand between 2018 and 2020 because of weakened commodity prices. However, steady growth in consumer spending and increased industrial output have pushed up revenue in recent years. Chemical wholesaling revenue is expected to expand at a CAGR of 2.8% to $23.7 billion through the end of 2023, despite a decline of 4.3% in 2023 alone when profit will reach 9.1% of revenue.
The Chemical Wholesaling industry in Canada wholesales chemicals and related products, including compressed gas, chemical additives and synthetic rubber, to the manufacturing, construction and mining industries. This industry does not wholesale agricultural and medicinal chemicals, paints and varnishes, fireworks or plastics materials.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry's key players and their market shares.
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