Global Basic Chemicals Market Size By Product Type (Organic, Inorganic), By End-User (Chemical Industry, Pharmaceuticals, Food And Beverages), By Geographic Scope And Forecast

Basic Chemicals Market Size And Forecast

Basic Chemicals Market size was valued at USD 674.9 Billion in 2021 and is projected to reach USD 950.5 Billion by 2030, growing at a CAGR of 3.8% from 2023 to 2030.

The increase in demand for a wide range of consumer goods has fueled the growth of the chemical industry in both developed and developing economies, where basic chemicals are used either as raw materials or as intermediates in the manufacture of various products. The Global Basic Chemicals Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Global Basic Chemicals Market Definition

Basic chemicals are produced in large quantities and are important elements in products used by industry and the general public. These products are used to process raw materials in many industries. This includes chemical raw materials obtained from oil (petrochemistry), and basic inorganic and chemical process intermediates. There are complementary goods that act as additives and solvents in many mixtures that fall under the category of base chemicals.

Global Basic Chemicals Market Overview

The increase in demand for a wide range of consumer goods has fueled the growth of the chemical industry in both developed and developing economies, where basic chemicals are used either as raw materials or as intermediates in the manufacture of various products. This may act as one of the key factors responsible for the growth of the Basic Chemicals Market in the chemical industry.

In addition, the increase in foreign direct investment (FDI) inflows into the chemical industry is supporting the growth of the chemical manufacturing sector, where a wide variety of basic chemicals are used for the purpose of manufacturing products. For example, according to a report published by the India Brands Equity Foundation, FDI inflows in the chemical sector reached USD 18.69 billion from April 2020 to June 2021. All these factors combine to increase the demand for basic chemicals, thereby increasing the global growth of the basic chemicals industry.

However, exposure to chemicals can cause acute or long-term adverse health risks. There are different types of chemicals such as sulfuric acid, phosphoric acid, nitric acid, and others that can be dangerous if exposed above the permissible exposure limit. For example, according to standard industry guidelines issued by the Occupational Safety and Health Administration (OSHA), the legal exposure limit for sulfuric acid in the air is 1 mg/m3 per 8-hour work shift. Long-term exposure to sulfuric acid can damage the eyes, skin, teeth, and lungs. Also, highly concentrated acids must be handled with care, otherwise, they can cause serious skin problems. These factors conjointly restrain the growth of the Basic Chemicals Market.

Global Basic Chemicals MarketSegmentation Analysis

The Global Basic Chemicals Market is Segmented on the basis of Product Type, End-User, and Geography.

Basic Chemicals Market, By Product Type

• Organic
• Inorganic

Based on Product Type, the market is segmented into Organic and Inorganic. The market is segmented into organic (acetone, benzene, butadiene, ethylene, methanol, propylene, and others) and inorganic categories based on type (ammonia, calcium carbonate, chlorine, hydrogen, sodium hydroxide, sulfuric acid, titanium dioxide, and others). Due to the growing consumer preference for organic products, the low reactivity of these chemicals, and their expanding application in end-user sectors such as vinegar manufacturing, paints & adhesives, medicines, and descalers, the organic segment accounted for the largest share among them in 2021. However, because of their lower prices, easier accessibility, and expanding applications in sectors including semiconductor, pigmentation, pharma, chemical, and fuel, inorganic basic chemicals are predicted to see substantial growth in the next years.

Basic Chemicals Market, By End-User

• Chemical Industry
• Pharmaceuticals
• Food & Beverages
• Polymer
• Pulp & Paper
• Textiles
• Others

Based on End-User, the market is segmented into Chemical Industry, Pharmaceuticals, Food & Beverages, Polymer, Pulp & Paper, Textiles, and Others. In terms of end-use industries, the chemical industry brought the largest revenue in 2021. The expansion of the chemical industries, which use fundamental chemicals as raw materials or an intermediary in the creation of a number of products, has been fueled by the expanding demand for a wide range of consumer goods in both developed and emerging nations. Because they use basic chemicals in their production processes at a growing rate, the food and beverage sector and the pharmaceutical industry are also leading the market.

Basic Chemicals Market, By Geography

• North America
• Europe
• Asia Pacific
• Rest of the world

Based on regional analysis, the Global Basic Chemicals Market is classified into North America, Europe, Asia Pacific, and the Rest of the world. A large number of chemical industries are present in the Asia-Pacific region, which has a dominant global market for basic chemicals. The reason for this dominance in the Basic Chemicals Market is the sizeable presence of manufacturers of petroleum chemicals in China and India. The demand for basic chemicals in the Asia-Pacific region is also anticipated to be fueled by factors including increased investment and fierce rivalry. Due to the growth of the transportation sector, which comprises the automobile, airline, and maritime industries, North America is also anticipated to have a sizable market share in the years to come.

Key Players

The “Global Basic Chemicals Market” study report will offer useful information with a focus on the global market. The major players in the market are LyondellBasell Industries Holdings B.V., INEOS, Borealis AG, BASF SE, Eastman Chemical Company, Tokyo Chemical Industry Co. Ltd., Shin-Etsu Chemical Co. Ltd., and Sumitomo Chemical Co. Ltd, Mitsubishi Chemical Corporation, Solvay.

Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

Key Developments

• In July 2021, According to Platinum Equity, it will merge with Sigura Water and pay USD 5.25 billion to buy the chemical firm Solenis from Clayton, Dubilier, Rice, and BASF. The combination would allow Sigura to increase the supply of chemicals and water treatment products to the food packaging and paper sectors, which would help it meet the expanding demand.

Ace Matrix Analysis

The Ace Matrix provided in the report would help to understand how the major key players involved in this industry are performing as we provide a ranking for these companies based on various factors such as service features & innovations, scalability, innovation of services, industry coverage, industry reach, and growth roadmap. Based on these factors, we rank the companies into four categories as Active, Cutting Edge, Emerging, and Innovators.

Market Attractiveness

The image of market attractiveness provided would further help to get information about the region that is majorly leading in the Global Basic Chemicals Market. We cover the major impacting factors that are responsible for driving the industry growth in the given region.

Porter’s Five Forces

The image provided would further help to get information about Porter’s five forces framework providing a blueprint for understanding the behavior of competitors and a player’s strategic positioning in the respective industry. Porter’s five forces model can be used to assess the competitive landscape in Global Basic Chemicals Market, gauge the attractiveness of a certain sector, and assess investment possibilities.

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Reasons to Purchase this Report

• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post-sales analyst support

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