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Basic Chemicals Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2030 - (By Type Coverage, End Use Coverage, Geographic Coverage and By Company)

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    Report

  • 170 Pages
  • June 2024
  • Region: Global
  • Fairfield Market Research
  • ID: 5979787
The global basic chemicals market is set for significant growth, projected to reach US$950.5 billion by 2030, a substantial increase from the US$689.2 billion recorded in 2023. This expansion reflects a robust compound annual growth rate (CAGR) of 4.7% over the forecast period. Basic chemicals, integral to numerous industrial applications, are witnessing a surge in demand driven by factors such as industrialisation, urbanisation, and technological advancements.

Key Market Drivers

1. Growing Industrialisation and Urbanisation: Industrialisation and urbanisation are pivotal in driving the basic chemicals market. The ongoing industrialisation across various regions results in heightened construction activities, infrastructure development, and an upsurge in manufacturing sectors. These activities necessitate a consistent supply of basic chemicals used in adhesives, coatings, plastics, and fertilizers. Additionally, urbanisation boosts the consumption of consumer goods, further propelling the demand for basic chemicals.

2. Pacing Technological Advancements: Technological advancements are revolutionising the basic chemicals market. Innovations in production processes, such as catalysis and process intensification, enhance efficiency, reduce energy consumption, and mitigate environmental impact. Moreover, advancements in materials science and molecular engineering enable the creation of novel chemicals with superior properties, expanding their applications across diverse industries.

3. Economic Growth: Economic expansion plays a crucial role in driving the basic chemicals market. Economic growth leads to increased industrial activities, construction projects, and higher consumer spending, all of which bolster the demand for basic chemicals. Additionally, rising disposable income levels heighten the demand for consumer goods, driving the need for packaging materials, textiles, and personal care products that rely on basic chemicals.

Market Challenges

1. Competitive Pressures: The basic chemicals market faces intense competitive pressures, impacting profit margins and pricing strategies. Companies operating in commoditised segments must continually innovate to maintain market share and differentiation. Aggressive pricing strategies and cost-cutting measures by competitors further exacerbate these challenges, making it difficult for companies to sustain profitability.

2. Shifts in Consumer Preferences: Evolving consumer preferences towards eco-friendly and sustainable products pose challenges for the basic chemicals market. Manufacturers must adapt by investing in greener alternatives and modifying production methods, which necessitates significant research and development investments. Failure to align with these changing demands can result in lost market share and reduced competitiveness.

Emerging Trends and Opportunities

1. Sustainability and Green Chemistry: The emphasis on sustainability and green chemistry is reshaping the basic chemicals market. Companies are increasingly adopting eco-friendly production processes, renewable feedstocks, and biodegradable products to meet regulatory requirements and cater to environmentally conscious consumers. These initiatives not only reduce environmental impact but also enhance long-term competitiveness.

2. Bio-Based Chemicals: Bio-based chemicals, derived from biological feedstocks, are gaining traction as sustainable alternatives to traditional petrochemical products. These eco-friendly chemicals align with the growing demand for renewable and responsible solutions across industries such as plastics, polymers, and specialty chemicals.

3. Specialty Chemicals: The demand for specialty chemicals is rising due to their unique properties and performance advantages tailored for specific applications. These high-value, niche products cater to diverse sectors, including electronics, pharmaceuticals, agriculture, and personal care, driving the need for specialised solutions.

Regional Market Leaders

1. North America: North America dominates the basic chemicals market, attributed to advanced manufacturing capabilities, a well-established petrochemical industry, and abundant shale gas reserves providing cost-effective feedstocks. Robust demand from key industries such as automotive, construction, and consumer goods further fuels market growth.

2. Asia Pacific: The Asia Pacific region is poised for rapid expansion in the basic chemicals market, driven by industrialisation, urbanisation, and economic development. Government policies favouring infrastructure investments and manufacturing expansion, along with a burgeoning population and rising disposable incomes, contribute to the region's robust market growth.

Competitive Analysis

The competitive Analysis of the basic chemicals market is marked by the presence of prominent players such as BASF SE, Dow Inc., SABIC, and ExxonMobil Chemical. These companies compete based on product quality, pricing, innovation, and market reach. Mergers, acquisitions, and partnerships are common strategies employed to strengthen market positions. The market's dynamic nature necessitates continuous innovation and adaptation to evolving market dynamics.

Market Segmentation

The global basic chemicals market is segmented based on type, end use, and geographic coverage:

By Type:

  • Organic
  • Inorganic

By End Use:

  • Agriculture
  • Automotive
  • Construction
  • Electronics
  • Food & Beverage
  • Healthcare & Pharmaceuticals
  • Manufacturing
  • Oil & Gas
  • Packaging
  • Textiles

By Geographic Coverage:

  • North America
  • U.S.
  • Canada
  • Europe
  • Germany
  • U.K.
  • France
  • Italy
  • Turkey
  • Russia
  • Rest of Europe
  • Asia Pacific
  • China
  • Japan
  • South Korea
  • India
  • Southeast Asia
  • Rest of Asia Pacific
  • Latin America
  • Brazil
  • Mexico
  • Argentina
  • Rest of Latin America
  • Middle East & Africa
  • GCC
  • South Africa
  • Egypt
  • Nigeria
  • Rest of Middle East & Africa


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Table of Contents

1. Executive Summary
1.1. Global Basic Chemicals Market Snapshot
1.2. Future Projections
1.3. Key Market Trends
1.4. Regional Snapshot, by Value, 2022
1.5. Analyst Recommendations
2. Market Overview
2.1. Market Definitions and Segmentations
2.2. Market Dynamics
2.2.1. Drivers
2.2.2. Restraints
2.2.3. Market Opportunities
2.3. Value Chain Analysis
2.4. Porter’s Five Forces Analysis
2.5. COVID-19 Impact Analysis
2.5.1. Supply
2.5.2. Demand
2.6. Impact of Ukraine-Russia Conflict
2.7. Economic Overview
2.7.1. World Economic Projections
2.8. PESTLE Analysis
3. Global Basic Chemicals Market Outlook, 2018 - 2030
3.1. Global Basic Chemicals Market Outlook, by Type, Value (US$ Mn), 2018 - 2030
3.1.1. Key Highlights
3.1.1.1. Organic
3.1.1.2. In organic
3.2. Global Basic Chemicals Market Outlook, by End Use, Value (US$ Mn), 2018 - 2030
3.2.1. Key Highlights
3.2.1.1. Agriculture
3.2.1.2. Automotive
3.2.1.3. Construction
3.2.1.4. Electronics
3.2.1.5. Food & Beverage
3.2.1.6. Healthcare & Pharmaceuticals
3.2.1.7. Manufacturing
3.2.1.8. Oil & Gas
3.2.1.9. Packaging
3.2.1.10. Textiles
3.2.1.11. Misc.
3.3. Global Basic Chemicals Market Outlook, by Region, Value (US$ Mn), 2018 - 2030
3.3.1. Key Highlights
3.3.1.1. North America
3.3.1.2. Europe
3.3.1.3. Asia Pacific
3.3.1.4. Latin America
3.3.1.5. Middle East & Africa
4. North America Basic Chemicals Market Outlook, 2018 - 2030
4.1. North America Basic Chemicals Market Outlook, by Type, Value (US$ Mn), 2018 - 2030
4.1.1. Key Highlights
4.1.1.1. Organic
4.1.1.2. In organic
4.2. North America Basic Chemicals Market Outlook, by End Use, Value (US$ Mn), 2018 - 2030
4.2.1. Key Highlights
4.2.1.1. Agriculture
4.2.1.2. Automotive
4.2.1.3. Construction
4.2.1.4. Electronics
4.2.1.5. Food & Beverage
4.2.1.6. Healthcare & Pharmaceuticals
4.2.1.7. Manufacturing
4.2.1.8. Oil & Gas
4.2.1.9. Packaging
4.2.1.10. Textiles
4.2.1.11. Misc.
4.2.2. BPS Analysis/Market Attractiveness Analysis
4.3. North America Basic Chemicals Market Outlook, by Country, Value (US$ Mn), 2018 - 2030
4.3.1. Key Highlights
4.3.1.1. U.S. Basic Chemicals Market by Type, Value (US$ Mn), 2018 - 2030
4.3.1.2. U.S. Basic Chemicals Market End Use, Value (US$ Mn), 2018 - 2030
4.3.1.3. Canada Basic Chemicals Market by Type, Value (US$ Mn), 2018 - 2030
4.3.1.4. Canada Basic Chemicals Market End Use, Value (US$ Mn), 2018 - 2030
4.3.2. BPS Analysis/Market Attractiveness Analysis
5. Europe Basic Chemicals Market Outlook, 2018 - 2030
5.1. Europe Basic Chemicals Market Outlook, by Type, Value (US$ Mn), 2018 - 2030
5.1.1. Key Highlights
5.1.1.1. Organic
5.1.1.2. In organic
5.2. Europe Basic Chemicals Market Outlook, by End Use, Value (US$ Mn), 2018 - 2030
5.2.1. Key Highlights
5.2.1.1. Agriculture
5.2.1.2. Automotive
5.2.1.3. Construction
5.2.1.4. Electronics
5.2.1.5. Food & Beverage
5.2.1.6. Healthcare & Pharmaceuticals
5.2.1.7. Manufacturing
5.2.1.8. Oil & Gas
5.2.1.9. Packaging
5.2.1.10. Textiles
5.2.1.11. Misc.
5.2.2. BPS Analysis/Market Attractiveness Analysis
5.3. Europe Basic Chemicals Market Outlook, by Country, Value (US$ Mn), 2018 - 2030
5.3.1. Key Highlights
5.3.1.1. Germany Basic Chemicals Market by Type, Value (US$ Mn), 2018 - 2030
5.3.1.2. Germany Basic Chemicals Market End Use, Value (US$ Mn), 2018 - 2030
5.3.1.3. U.K. Basic Chemicals Market by Type, Value (US$ Mn), 2018 - 2030
5.3.1.4. U.K. Basic Chemicals Market End Use, Value (US$ Mn), 2018 - 2030
5.3.1.5. France Basic Chemicals Market by Type, Value (US$ Mn), 2018 - 2030
5.3.1.6. France Basic Chemicals Market End Use, Value (US$ Mn), 2018 - 2030
5.3.1.7. Italy Basic Chemicals Market by Type, Value (US$ Mn), 2018 - 2030
5.3.1.8. Italy Basic Chemicals Market End Use, Value (US$ Mn), 2018 - 2030
5.3.1.9. Turkey Basic Chemicals Market by Type, Value (US$ Mn), 2018 - 2030
5.3.1.10. Turkey Basic Chemicals Market End Use, Value (US$ Mn), 2018 - 2030
5.3.1.11. Russia Basic Chemicals Market by Type, Value (US$ Mn), 2018 - 2030
5.3.1.12. Russia Basic Chemicals Market End Use, Value (US$ Mn), 2018 - 2030
5.3.1.13. Rest of Europe Basic Chemicals Market by Type, Value (US$ Mn), 2018 - 2030
5.3.1.14. Rest of Europe Basic Chemicals Market End Use, Value (US$ Mn), 2018 - 2030
5.3.2. BPS Analysis/Market Attractiveness Analysis
6. Asia Pacific Basic Chemicals Market Outlook, 2018 - 2030
6.1. Asia Pacific Basic Chemicals Market Outlook, by Type, Value (US$ Mn), 2018 - 2030
6.1.1. Key Highlights
6.1.1.1. Organic
6.1.1.2. In organic
6.2. Asia Pacific Basic Chemicals Market Outlook, by End Use, Value (US$ Mn), 2018 - 2030
6.2.1. Key Highlights
6.2.1.1. Agriculture
6.2.1.2. Automotive
6.2.1.3. Construction
6.2.1.4. Electronics
6.2.1.5. Food & Beverage
6.2.1.6. Healthcare & Pharmaceuticals
6.2.1.7. Manufacturing
6.2.1.8. Oil & Gas
6.2.1.9. Packaging
6.2.1.10. Textiles
6.2.1.11. Misc.
6.2.2. BPS Analysis/Market Attractiveness Analysis
6.3. Asia Pacific Basic Chemicals Market Outlook, by Country, Value (US$ Mn), 2018 - 2030
6.3.1. Key Highlights
6.3.1.1. China Basic Chemicals Market by Type, Value (US$ Mn), 2018 - 2030
6.3.1.2. China Basic Chemicals Market End Use, Value (US$ Mn), 2018 - 2030
6.3.1.3. Japan Basic Chemicals Market by Type, Value (US$ Mn), 2018 - 2030
6.3.1.4. Japan Basic Chemicals Market End Use, Value (US$ Mn), 2018 - 2030
6.3.1.5. South Korea Basic Chemicals Market by Type, Value (US$ Mn), 2018 - 2030
6.3.1.6. South Korea Basic Chemicals Market End Use, Value (US$ Mn), 2018 - 2030
6.3.1.7. India Basic Chemicals Market by Type, Value (US$ Mn), 2018 - 2030
6.3.1.8. India Basic Chemicals Market End Use, Value (US$ Mn), 2018 - 2030
6.3.1.9. Southeast Asia Basic Chemicals Market by Type, Value (US$ Mn), 2018 - 2030
6.3.1.10. Southeast Asia Basic Chemicals Market End Use, Value (US$ Mn), 2018 - 2030
6.3.1.11. Rest of Asia Pacific Basic Chemicals Market by Type, Value (US$ Mn), 2018 - 2030
6.3.1.12. Rest of Asia Pacific Basic Chemicals Market End Use, Value (US$ Mn), 2018 - 2030
6.3.2. BPS Analysis/Market Attractiveness Analysis
7. Latin America Basic Chemicals Market Outlook, 2018 - 2030
7.1. Latin America Basic Chemicals Market Outlook, by Type, Value (US$ Mn), 2018 - 2030
7.1.1. Key Highlights
7.1.1.1. Organic
7.1.1.2. In organic
7.2. Latin America Basic Chemicals Market Outlook, by End Use, Value (US$ Mn), 2018 - 2030
7.2.1. Key Highlights
7.2.1.1. Agriculture
7.2.1.2. Automotive
7.2.1.3. Construction
7.2.1.4. Electronics
7.2.1.5. Food & Beverage
7.2.1.6. Healthcare & Pharmaceuticals
7.2.1.7. Manufacturing
7.2.1.8. Oil & Gas
7.2.1.9. Packaging
7.2.1.10. Textiles
7.2.1.11. Misc.
7.2.2. BPS Analysis/Market Attractiveness Analysis
7.3. Latin America Basic Chemicals Market Outlook, by Country, Value (US$ Mn), 2018 - 2030
7.3.1. Key Highlights
7.3.1.1. Brazil Basic Chemicals Market by Type, Value (US$ Mn), 2018 - 2030
7.3.1.2. Brazil Basic Chemicals Market End Use, Value (US$ Mn), 2018 - 2030
7.3.1.3. Mexico Basic Chemicals Market by Type, Value (US$ Mn), 2018 - 2030
7.3.1.4. Mexico Basic Chemicals Market End Use, Value (US$ Mn), 2018 - 2030
7.3.1.5. Argentina Basic Chemicals Market by Type, Value (US$ Mn), 2018 - 2030
7.3.1.6. Argentina Basic Chemicals Market End Use, Value (US$ Mn), 2018 - 2030
7.3.1.7. Rest of Latin America Basic Chemicals Market by Type, Value (US$ Mn), 2018 - 2030
7.3.1.8. Rest of Latin America Basic Chemicals Market End Use, Value (US$ Mn), 2018 - 2030
7.3.2. BPS Analysis/Market Attractiveness Analysis
8. Middle East & Africa Basic Chemicals Market Outlook, 2018 - 2030
8.1. Middle East & Africa Basic Chemicals Market Outlook, by Type, Value (US$ Mn), 2018 - 2030
8.1.1. Key Highlights
8.1.1.1. Organic
8.1.1.2. In organic
8.2. Middle East & Africa Basic Chemicals Market Outlook, by End Use, Value (US$ Mn), 2018 - 2030
8.2.1. Key Highlights
8.2.1.1. Agriculture
8.2.1.2. Automotive
8.2.1.3. Construction
8.2.1.4. Electronics
8.2.1.5. Food & Beverage
8.2.1.6. Healthcare & Pharmaceuticals
8.2.1.7. Manufacturing
8.2.1.8. Oil & Gas
8.2.1.9. Packaging
8.2.1.10. Textiles
8.2.1.11. Misc.
8.2.2. BPS Analysis/Market Attractiveness Analysis
8.3. Middle East & Africa Basic Chemicals Market Outlook, by Country, Value (US$ Mn), 2018 - 2030
8.3.1. Key Highlights
8.3.1.1. GCC Basic Chemicals Market by Type, Value (US$ Mn), 2018 - 2030
8.3.1.2. GCC Basic Chemicals Market End Use, Value (US$ Mn), 2018 - 2030
8.3.1.3. South Africa Basic Chemicals Market by Type, Value (US$ Mn), 2018 - 2030
8.3.1.4. South Africa Basic Chemicals Market End Use, Value (US$ Mn), 2018 - 2030
8.3.1.5. Egypt Basic Chemicals Market by Type, Value (US$ Mn), 2018 - 2030
8.3.1.6. Egypt Basic Chemicals Market End Use, Value (US$ Mn), 2018 - 2030
8.3.1.7. Nigeria Basic Chemicals Market by Type, Value (US$ Mn), 2018 - 2030
8.3.1.8. Nigeria Basic Chemicals Market End Use, Value (US$ Mn), 2018 - 2030
8.3.1.9. Rest of Middle East & Africa Basic Chemicals Market by Type, Value (US$ Mn), 2018 - 2030
8.3.1.10. Rest of Middle East & Africa Basic Chemicals Market End Use, Value (US$ Mn), 2018 - 2030
8.3.2. BPS Analysis/Market Attractiveness Analysis
9. Competitive Landscape
9.1. End Use vs End Use Heatmap
9.2. Manufacturer vs End Use Heatmap
9.3. Company Market Share Analysis, 2022
9.4. Competitive Dashboard
9.5. Company Profiles
9.5.1. BASF SE
9.5.1.1. Company Overview
9.5.1.2. Product Portfolio
9.5.1.3. Financial Overview
9.5.1.4. Business Strategies and Development
9.5.2. Dow, Inc.
9.5.2.1. Company Overview
9.5.2.2. Product Portfolio
9.5.2.3. Financial Overview
9.5.2.4. Business Strategies and Development
9.5.3. ExxonMobil Chemical
9.5.3.1. Company Overview
9.5.3.2. Product Portfolio
9.5.3.3. Financial Overview
9.5.3.4. Business Strategies and Development
9.5.4. SABIC
9.5.4.1. Company Overview
9.5.4.2. Product Portfolio
9.5.4.3. Financial Overview
9.5.4.4. Business Strategies and Development
9.5.5. INEOS Group
9.5.5.1. Company Overview
9.5.5.2. Product Portfolio
9.5.5.3. Financial Overview
9.5.5.4. Business Strategies and Development
9.5.6. LyondellBasell Industries
9.5.6.1. Company Overview
9.5.6.2. Product Portfolio
9.5.6.3. Financial Overview
9.5.6.4. Business Strategies and Development
9.5.7. Formosa Plastics Corporation
9.5.7.1. Company Overview
9.5.7.2. Product Portfolio
9.5.7.3. Financial Overview
9.5.7.4. Business Strategies and Development
9.5.8. Mitsubishi Chemical Corporation
9.5.8.1. Company Overview
9.5.8.2. Product Portfolio
9.5.8.3. Business Strategies and Development
9.5.9. Sinopec
9.5.9.1. Company Overview
9.5.9.2. Product Portfolio
9.5.9.3. Financial Overview
9.5.9.4. Business Strategies and Development
9.5.10. AkzoNobel
9.5.10.1. Company Overview
9.5.10.2. Product Portfolio
9.5.10.3. Financial Overview
9.5.10.4. Business Strategies and Development
9.5.11. DuPont
9.5.11.1. Company Overview
9.5.11.2. Product Portfolio
9.5.11.3. Financial Overview
9.5.11.4. Business Strategies and Development
9.5.12. LG Chem
9.5.12.1. Company Overview
9.5.12.2. Product Portfolio
9.5.12.3. Financial Overview
9.5.12.4. Business Strategies and Development
9.5.13. Sumitomo Chemical Company
9.5.13.1. Company Overview
9.5.13.2. Product Portfolio
9.5.13.3. Financial Overview
9.5.13.4. Business Strategies and Development
9.5.14. Eastman Chemical Company
9.5.14.1. Company Overview
9.5.14.2. Product Portfolio
9.5.14.3. Financial Overview
9.5.14.4. Business Strategies and Development
9.5.15. Borealis AG
9.5.15.1. Company Overview
9.5.15.2. Product Portfolio
9.5.15.3. Financial Overview
9.5.15.4. Business Strategies and Development
10. Appendix
10.1. Research Methodology
10.2. Report Assumptions
10.3. Acronyms and Abbreviations

Companies Mentioned (Partial List)

A selection of companies mentioned in this report includes, but is not limited to:

  • BASF SE
  • Dow, Inc.
  • ExxonMobil Chemical
  • SABIC
  • INEOS Group
  • LyondellBasell Industries
  • Formosa Plastics Corporation
  • Mitsubishi Chemical Corporation
  • Sinopec
  • AkzoNobel
  • DuPont
  • LG Chem
  • Sumitomo Chemical Company
  • Eastman Chemical Company
  • Borealis AG

Methodology

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