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

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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.