0
2021
Basic Chemicals Market

Basic Chemicals Market

by Product Type (Organic and Inorganic) and End User (Chemical Industry, Food & Beverages, Textiles, Pharmaceuticals, Pulp & Paper, Polymer, and Others): Global Opportunity Analysis and Industry Forecast, 2021-2030

Report Code: A14984
Pages: 330
Dec 2021 | 3957 Views
Author(s) : Chidanand B, Nikhil M , Eswara P
Tables: 162
Charts: 76
  • Formats*:

  • Single User License, Five User
    License & Enterprise User License

  • Data Pack Excel License

  • It comes with the additional cost
    of $2500.00 contact sales.

 

COVID-19

Pandemic disrupted the entire world and affected many industries.

Get detailed COVID-19 impact analysis on the Basic Chemicals Market

Request Now !

The global basic chemicals market was valued at $649.8 billion in 2020, and is projected to reach $949.1 billion by 2030, growing at a CAGR of 3.9% from 2021 to 2030.

Around 60% of the manufacturing industries were hardly hit by the pandemic while other industries such as food & beverages and pharmaceuticals are moderately affected due to high demand. This has led the basic chemicals market to witness a downfall in demand, attributed to its use in various manufacturing & other end-use sectors.

Basic chemicals are usually produced in large quantities and these chemicals are crucial products that will be used in the industrial and consumer sectors. Inorganic chemicals are chemical compounds that lack carbon-hydrogen bond while organic chemicals are chemical compounds that contain carbon-hydrogen bond. Acetic acid, ethanol, phenol, urea, benzene, ethylene, and methanol are some examples of organic chemicals that are used in applications such as vinegar production, pharmaceuticals, paints & adhesives, and descalers. Inorganic chemicals are used in applications such as pigmentation, semiconductor, fuel, medicine, and chemical industry.               

Basic-Chemicals-Market

The increase in demand for a wide range of consumer goods has surged the growth of the chemical industries in both developed and developing economies where basic chemicals are used either as raw material or intermediate in manufacturing different products. This may act as one of the key drivers responsible for the growth of the basic chemicals market in the chemical industries. Furthermore, the increase in foreign direct investment (FDI) inflow in chemical industries boost the growth of the chemical manufacturing sectors where a wide range of basic chemicals are used for product manufacturing purposes. For instance, according to a report published by India Brands Equity Foundation, the FDI inflows in the chemical sector reached $18.69 billion from April 2020 and June 2021. All these factors collectively surge demand for basic chemicals, thereby augmenting the global basic chemicals industry growth.

However, exposure to chemicals can cause acute or long-term detrimental health hazards. There are different types of chemicals such as sulfuric acid, phosphoric acid, nitric acid, and others that may be hazardous if exposed beyond the permissible exposure limit. For example, as per the standard industrial guidelines issued by the Occupational Safety and Health Administration (OSHA), the legal airborne exposure limit for sulfuric acid is 1mg/m3 for an 8-hour work shift. Prolonged exposure to sulfuric acid may harm the eyes, skin, teeth, and lungs. Also, highly concentrated acids must be handled carefully otherwise they may cause serious skin problems. These factors together restrain the growth of the basic chemicals market. 

On the contrary, presence of major chemical manufacturing companies such as BASF SE, Bayer AG, Boehringer Ingelheim GmbH, and Evonik Industries AG in Germany is anticipated to drive the demand of the basic chemicals market. Factors such as investments and favorable frameworks are anticipated to escalate the production and sales of basic chemicals in Europe. In addition, according to report by Germany Trade & Invest (GTAI), efficient cost structure and presence of highly skilled labors has pushed the demand for adhesives & sealants manufacturers. Leading automotive expertise has created new opportunities for key-players entering into the market. Basic chemicals are being widely used in production of adhesives & sealants. This is further anticipated to offer new opportunities in the global market. 

The basic chemicals market is segmented on the basis of type, end-use, and region. On the basis of type, the market is categorized into organic and inorganic. By end use, the market is divided into chemical industry, food & beverages, textile, pharmaceuticals, pulp & paper, polymer, and others. Region wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA. 

Basic chemicals market, by region

The Asia-Pacific basic chemicals market accounted for 49.4% of the market share in 2020, and is projected to grow at the highest CAGR of 4.5% during the forecast period. Chemical industry sector in China is growing and remains to outpace as compared to other major chemical producing countries. Factors such as rise in investments, intense competition, and presence of large number chemical manufacturing companies is anticipated to drive the demand of basic chemicals market in Asia-Pacific. Coupled with shift towards specialty-chemical manufacturing sector, growing consumer-demand, and mounting superiority of China’s industrial output is another considerable factor driving the demand of basic chemicals sector in Asia-Pacific.

Basic Chemicals Market
By Region

2030
Asia-pacific 
North America
Europe
LAMEA

Asia-Pacific would exhibit highest CAGR of 4.5% during 2021-2028.

Get more information on this report : Request Sample Pages

Basic chemicals market, by product type

In 2020, the organic product type was the largest revenue generator, and is anticipated to grow at a CAGR of 3.2% during the forecast period. Phenol is a another important and widely used organic chemical compound in pharmaceutical sector. It is used to treat muscle spasticity by injecting phenol into muscles and it is widely used during ingrown toenail surgery is another considerable growth factor in the global market. Vaccines are utmost important in healthcare sector. However, proper storage of these vaccines is important in order to enhance the effectiveness of these vaccines. Bacteria tend to develop in these vaccines if not properly preserved and further leads to vaccine contamination. Thus, to overcome this problem, phenol is used as vaccine preservatives as it helps to prohibit the growth of bacteria and microbial contamination.

Basic Chemicals Market
By Product Type

Your browser does not support the canvas element.

Inorganic product type is the most lucrative segment

Get more information on this report : Request Sample Pages

Basic chemicals market, by end use

By end-use, the chemical industry segment dominated the global market in 2020, and is anticipated to grow at a CAGR of 3.4% during forecast period. The increasing demand for a wide range of consumer goods has surged the growth of the chemical industries in both developed and developing economies where basic chemicals are used either as raw material or intermediate in manufacturing different products. This may act as one of the key drivers responsible for the growth of the basic chemicals market in the chemical industries.  

Basic Chemicals Market
By End Use

Your browser does not support the canvas element.

Polymer end-use is projected as the fastest growing segment

Get more information on this report : Request Sample Pages

Key benefits for stakeholders

  • Porter’s five forces analysis helps analyze the potential of buyers & suppliers and the competitive scenario of the industry for strategy building.
  • It outlines the current market trends and future estimations of global basic chemicals market from 2020 to 2030 to understand the prevailing opportunities and potential investment pockets.
  • The major countries in the region have been mapped according to their individual revenue contribution to the regional market.
  • The key drivers, restraints, and opportunities and their detailed impact analysis are explained in the study.
  • The profiles of key players and their key strategic developments are enlisted in the report.

Impact Of Covid-19 On The Global Basic Chemicals Market

  • The novel coronavirus is an incomparable global pandemic that has spread to over 180 countries and caused huge losses of lives and the economy around the globe. The basic chemicals market has been negatively impacted due to the wake of the COVID-19 pandemic, owing to its dependence on food & beverages, chemical, textile, pulp & paper, polymer, agriculture, and other sectors. According to a report published by the Ministry of Energy and Mineral Resources, the second quarter of 2020 registered a decrease in the economic growth by -5.3%, owing to the lockdown imposed amid the COVID-19 period. 
  • In addition, around 60% of the manufacturing industries were hardly hit by the pandemic while other industries such as food & beverages and pharmaceuticals are moderately affected due to high demand. This has led the basic chemicals market to witness a downfall in demand, attributed to its use in various manufacturing & other end-use sectors. 
  • Furthermore, the fuel consumption (gasoline) was decreased by 34% in April 2020 as compared to April 2019, owing to restrictions for the transportation of non-essential items. This has reduced the refining capacities of the major refineries; thus, decreasing the consumption of organic chemicals used in blending gasoline mixtures in the refineries. 
  • In addition, several key companies such as BASF SE, Solvay, and others have registered decreased in sales for their chemical segments amid the COVID-19 Scenario. For instance, Solvay registered a decrease in the net sales by 16.1% in 2020 as compared to 2019, owing to a decrease in the net sales of materials, chemicals, and solutions segments in 2020. 
  • However, several antimicrobial & disinfectant chemicals such as acetic acid, citric acid, and others have witnessed a significant increase in demand amid the pandemic. For instance, according to an article published by Cision, the production of antimicrobial products has gained immense traction amid the pandemic and is expected to surpass $7 billion by the end of 2020. 
  • In addition, the increasing awareness for hygiene & sanitization has surged the consumption of basic chemicals such as ethylene dichloride (EDC), vinyl chloride monomer (VCM), propylene, and others among the chemical industry and food & beverages sectors and is anticipated to grow rapidly post COVID-19 scenario. 
  • Furthermore, new emerging geographic scenario, enhanced domestic supply chain and strong public investments in chemical sector is projected to drive the growth of the basic chemicals market. For instance, according to an interim report published by the Australian Chemical Industry Forum (ACIF), the chemical industry is expected to return to pre-COVID-19 levels, driven by strong public investments. 
  • According to a report published by the Ministry of Energy and Mineral Resources of the Republic of Indonesia, the second quarter of 2020 registered a decrease in the economic growth by -5.3%, owing to the lockdown imposed in the various parts of the country. 
  • In addition, around 60% of the manufacturing industries in Indonesia were hardly hit by the pandemic while other industries such as food & beverages and pharmaceuticals are moderately affected due to high demand. This has led the basic chemicals market to witness a downfall in demand, attributed to its use in various manufacturing & other end-use sectors. Furthermore, the fuel consumption (gasoline) was decreased by 34% in April 2020 as compared to April 2019, owing to restrictions for the transportation of non-essential items. 
  • This has reduced the refining capacities of the Indonesian refiners; thus, decreasing the consumption of organic petrochemicals used in blending gasoline mixtures in the refineries. In addition, several key companies such as BASF SE, PT, Dow Indonesia, Solvay, and others have registered decreased in sales for their chemical segments amid the COVID-19 Scenario. For instance, Solvay registered a decrease in the net sales by 16.1% in 2020 as compared to 2019, owing to a decrease in the net sales of materials, chemicals, and solutions segments in 2020. 
  • However, several antimicrobial & disinfectant chemicals such as acetic acid, citric acid, and others have witnessed a significant increase in demand amid the pandemic. For instance, according to an article published by Cision, the production of antimicrobial products has gained immense traction amid the pandemic and is expected to surpass $7 billion by the end of 2020. 
  • In addition, the increasing awareness for hygiene & sanitization has surged the consumption of basic chemicals such as ethylene dichloride (EDC), vinyl chloride monomer (VCM), propylene, and others among the chemical industry and food & beverages sectors and is anticipated to grow rapidly post COVID-19 scenario. 

Basic Chemicals Market Report Highlights

Aspects Details
By Product Type
  • Organic
  • Inorganic
By End-Use
  • Chemical Industry
  • Food & Beverages
  • Textiles
  • Pharmaceuticals
  • Pulp & Paper
  • Polymer
  • Others
By Region
  • North America  (U.S., Canada, Mexico)
  • Europe  (Germany, UK, France, Italy, Spain, Rest of Europe)
  • Asia-Pacific  (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific)
  • LAMEA  (Brazil, Saudi Arabia, South Africa, Rest of LAMEA)
Key Market Players BASF SE, Borealis AG, Eastman Chemical Company, INEOS, LyondellBasell Industries Holdings B.V., Mitsubishi Chemical Corporation, Shin-Etsu Chemical Co. Ltd., Solvay, Sumitomo Chemical Co. Ltd., Tokyo Chemical Industry Co. Ltd.
 

Loading Table Of Content...


 
 

The global basic chemicals market is expected to exhibit high growth potential owing to its use in food & beverages, textile, pulp & paper, and pharmaceuticals end-user. Acetic acid is an important chemical compound that is used as food additive for regulating acidity level and as a preservative is the key market trend. For instance, it is used to increase the level of acidity and decrease the pH level of food products and it also improves the organoleptic quality in food products such as salt and vinegar chips. 

Moreover, the increase in utilization of plastics across several end-use sectors has surged the growth of the polymer manufacturing industries where basic chemicals are widely used as a raw materials for product manufacturing purposes. This may act as one of the key drivers responsible for the growth of the basic chemicals market. Furthermore, polymers are widely accepted as a substitute of metals owing to its excellent significant properties such as high strength, corrosion resistance, lightweight, and others. This has led the polymer sector to witness a significant increase in demand where basic chemicals are used as a raw material for manufacturing applications.

Basic chemicals also find applications in chemical industry, building & construction, energy, and agriculture end use industries. The building and construction sector uses a wide range of basic chemicals such as caustic soda, vinyl chloride monomer (VCM), and others for manufacturing different building materials such as window glass, fittings, pipes and others. Caustic soda is a major raw material used in manufacturing glasses and geopolymer concretes. Moreover, vinyl chloride monomer (VCM) is used as a major precursor in the polymerization process to manufacture polyvinyl chloride (PVC) resin. This is not only gaining immense attention in the market but is also emerging as a key strategy in terms of gaining additional market demand.

 

PURCHASE OPTIONS

Call or Email us

U.S.-Canada Toll-free: +1-800-792-5285
Int'l : +1-503-894-6022
Europe : + 44-845-528-1300
Email : help@alliedmarketresearch.com
 
FREQUENTLY ASKED QUESTIONS?

A. Rise in adoption of basic chemicals in food & beverage industry and growth in pharmaceutical industry are the key factors boosting the basic chemical market growth.

A. The global basic chemicals market forecast was valued at $649.8 billion in 2020, and is projected to reach $949.1 billion by 2030, growing at a CAGR of 3.9% from 2021 to 2030.

A. BASF SE, Borealis AG, Eastman Chemical Company, INEOS, LyondellBasell Industries Holdings B.V., Mitsubishi Chemical Corporation, Shin-Etsu Chemical Co. Ltd., Solvay, Sumitomo Chemical Co. Ltd., and Tokyo Chemical Industry Co. Ltd. are the most established players of the global basic chemical market.

A. Chemical industry is projected to increase the demand for basic chemical market.

A. The basic chemicals market is segmented on the basis of type, end-use, and region. On the basis of type, the market is categorized into organic and inorganic. By end use, the market is divided into chemical industry, food & beverages, textile, pharmaceuticals, pulp & paper, polymer, and others. Region wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.

A. Use of formaldehyde for prevention of fabric wrinkling and water-proofing agent is the key market trend. In addition, it is also used to enhance the color fastness characteristics of the textile products. Chlorobenzenes are another important chemical compounds that are used during the dyeing process as levelling agents is driving the demand of the global market.

A. manufacturing of fertilizers, industrial & household cleaners, solders, paints, sheet metal, lead batteries, and fire retardants applications are expected to drive the adoption of basic chemical.

Looking for Customization?

 Customization Request

Have a Question?

 Speak with Analyst

Any Confusion?

 Inquire Before Buying

Have a glance of the Report

  Request Free Sample
RELATED TAGS

Purchase Full Report of
Basic Chemicals Market

Start reading instantly.
This Report and over 19,609+ more Reports, Available with Avenue Library. T&C*.

  • Online Only
  • $3,456
  • Online cloud access only
  • Restricted print, copy, paste & download
  • Read only
  • Free industry update
    (Within 180 days)
  • Free report update in next update cycle
    (Dec 2022 - Dec 2023)
  • Data Pack
  • $3,840
  • Restricted to one authorized user
  • One print only
  • Available in
    Excel
  • Free industry update
    (Within 180 days)
  •   Free report update in next update cycle
    (Dec 2022 - Dec 2023)
  • Single User
  • $5,769
  • Restricted to one authorized user
  • One print only
  • Available in
    PDF
  • Free industry update
    (Within 180 days)
  •   Free report update in next update cycle
    (Dec 2022 - Dec 2023)
  • Five Users
  • $6,450
  • Limited to five authorized users
  • Print upto five copies
  • Available in
    PDF
  • Free industry update
    (Within 180 days)
  •   Free report update in next update cycle
    (Dec 2022 - Dec 2023)
  • Enterprise
    License/PDF

  • $10,995
  • Unlimited
    within
    company/enterprise
  • Available in Excel & PDF
  • Free industry update
    (Within 180 days)
  •   Free report update in next update cycle
    (Dec 2022 - Dec 2023)
  • Library
    Membership

  • $ 999
    Per User/ Per month/ Billed annually
  • Published Content
    E-access
  • Company Profiles
    E-access
  • Newly Added Content Access
  • 10 PDF
    Downloads
  • 5 Excel Data
    Pack Downloads
  • 250 Company Profiles PDF Downloads
  • Buy Now

*Taxes/Fees, if applicable will be added during checkout. All prices in USD

RELATED REPORTS
 

Why Allied Market Research?

 

Infallible Methodology

To ensure high-level data integrity, accurate analysis, and impeccable forecasts

Analyst Support

For complete satisfaction

Customization

On-demand customization of scope of the report to exactly meet your needs

TARGETED MARKET VIEW

Targeted market view to provide pertinent information and save time of readers

Get fresh content delivered

Get insights on topics that are crucial for your business. Stay abreast of your interest areas.

Get Industry Data Alerts

Why Allied Market Research?

Infallible Methodology

To ensure high-level data integrity, accurate analysis, and impeccable forecasts

Analyst Support

For complete satisfaction

Customization

On-demand customization of scope of the report to exactly meet your needs

TARGETED MARKET VIEW

Targeted market view to provide pertinent information and save time of readers