Dublin, May 04, 2021 (GLOBE NEWSWIRE) -- The "Chemicals Global Market Report 2021: COVID-19 Impact and Recovery to 2030" report has been added to ResearchAndMarkets.com's offering.
Chemicals Global Market Report 2021: COVID-19 Impact and Recovery to 2030 provides the strategists, marketers and senior management with the critical information they need to assess the global chemicals market as it emerges from the COVID-19 shut down.
Major companies in the chemicals market include China Petroleum & Chemical Corporation (Sinopec); BASF SE; Bayer AG; Dow Chemical and LyondellBasell Industries.
The global chemicals market is expected to grow from $3340.32 billion in 2020 to $3728.43 billion in 2021 at a compound annual growth rate (CAGR) of 11.6%.
The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $4304.71 billion in 2025 at a CAGR of 4%.
Asia Pacific was the largest region in the global chemicals market, accounting for 49% of the market in 2020. North America was the second largest region accounting for 17% of the global chemicals market. Africa was the smallest region in the global chemicals market.
Chemical companies are increasingly adopting sustainable and ecofriendly processes to eliminate negative impact of chemical manufacturing on the environment. Evolution in technology and chemical sciences enabled chemical companies to utilize alternative fuels to produce chemical products. They are using naturally available carbon dioxide to produce fuels, industrial products and other substances. For instance, Akzo Nobel N.V a chemicals and coatings giant is planning to make a seven-figure investment into Green Lizard Technologies' patented process to make surfactants from plants rather than from oils.
Rising costs had a negative impact on the growth of the industrial gas market during the forecast period. This rise in raw material costs resulted in higher manufacturing costs, thus decreasing the investments available for research and development of new products. Additionally, companies invested heavily on marketing their products due to intense competition in the market. Rising trucking, railroad, dry-bulk and air-freight rates also negatively impacted the market. This rise in operating costs increased the pressure on companies to protect margins, while maintaining the quality of their products.
Interest rates were low in most developed countries during this period; this positively impacted the growth of the chemicals market. For instance, in 2019, the European Central Bank decreased interest rates to -0.5% on deposits from banks to encourage lending. These low interest rates encouraged borrowing and increased the flow of money for investment. This allowed chemicals companies to borrow money for process improvements, thus driving the market during historic period.
Key Topics Covered:
1. Executive Summary
2. Report Structure
3. Chemicals Market Characteristics
3.1. Market Definition
3.2. Key Segmentations
4. Chemicals Market Product Analysis
4.1. Leading Products/ Services
4.2. Key Features and Differentiators
4.3. Development Products
5. Chemicals Market Supply Chain
5.1. Supply Chain
5.3. End Customers
6. Chemicals Market Customer Information
6.1. Customer Preferences
6.2. End Use Market Size and Growth
7. Chemicals Market Trends And Strategies
8. Impact Of COVID-19 On Chemicals
9. Chemicals Market Size And Growth
9.1. Market Size
9.2. Historic Market Growth, Value ($ Billion)
9.2.1. Drivers Of The Market
9.2.2. Restraints On The Market
9.3. Forecast Market Growth, Value ($ Billion)
9.3.1. Drivers Of The Market
9.3.2. Restraints On The Market
10. Chemicals Market Regional Analysis
10.1. Global Chemicals Market, 2020, By Region, Value ($ Billion)
10.2. Global Chemicals Market, 2015-2020, 2020-2025F, 2030F, Historic And Forecast, By Region
10.3. Global Chemicals Market, Growth And Market Share Comparison, By Region
11. Chemicals Market Segmentation
11.1. Global Chemicals Market, Segmentation By Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
General Chemical Product
Soap And Cleaning Compounds
Paints And Coatings
Pesticide And Other Agricultural Chemicals
Synthetic Rubber And Fibers
Plastic Material And Resins
Ethyl Alcohol And Other Basic Organic Chemical
Other Basic Inorganic Chemical
Synthetic Dye And Pigment
12. Chemicals Market Segments
12.1. Global General Chemical Product Market, Segmentation By Type, 2015-2020, 2020-2025F, 2030F, Value ($ Billion)
12.2. Global Printing Inks Market, Segmentation By Type, 2015-2020, 2020-2025F, 2030F, Value ($ Billion) - Oil-Based Printing Inks; Solvent-Based Printing Inks; Water-Based Printing Inks
12.3. Global Toiletries Market
12.4. Global Soap And Cleaning Compounds Market
12.5. Global Adhesives Market
12.6. Global Paints And Coatings Market
12.7. Global Pesticide And Other Agricultural Chemicals Market
12.8. Global Chemical Fertilizers Market
12.9. Global Synthetic Rubber And Fibers Market
12.10. Global Plastic Material And Resins Market
12.11. Global Ethyl Alcohol And Other Basic Organic Chemical Market
12.12. Global Other Basic Inorganic Chemical Market
12.14. Global Industrial Gas Market
12.15. Global Petrochemicals Market
13. Chemicals Market Metrics
13.1. Chemicals Market Size, Percentage Of GDP, 2015-2025, Global
13.2. Per Capita Average Chemicals Market Expenditure, 2015-2025, Global
China Petroleum & Chemical Corporation (Sinopec)
For more information about this report visit https://www.researchandmarkets.com/r/r9ojph
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