Global Chemicals Market Forecast To Reach $8580.4 Billion By 2029 With 8.6% Annual Growth

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The Business Research Company’s Chemicals Global Market Report 2025 - Market Size, Trends, And Global Forecast 2025-2034

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How Big Is The Global Chemicals Market Expected To Grow?
The data indicates significant growth in the chemicals market size in recent years. Factors influencing this expansion have been diverse, including factors such as global economic conditions, general economic trends, pricing of raw materials, key developments in market consolidation, and rising global population patterns. Specifically, the market size has escalated from a noteworthy $5614.19 billion in 2024 to an impressive $6158.94 billion in 2025, resulting in a compound annual growth rate CAGR of 9.7%.

What Is Its Annual Growth Rate?
In the coming years, the chemicals market is not only expected to maintain this rising trend but also to see a heightened pace of growth. Forecasts suggest that by 2029, the market will reach a worth as high as $8580.4 billion, with a CAGR of 8.6%. The reasons for such strong growth in the forecast period are multifaceted, revolving around stringent environmental regulations, changing consumer preferences, an increase in renewable and bio-based materials, geopolitical factors, and a substantial focus on health and safety. Moreover, major trends identified for the future include sustainability and green chemistry, digital transformations, embracing the circular economy, advancements in materials and nanotechnology, a strengthening of the supply chain resilience, and rapid strides toward digitalization and Industry 4.0.

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What Is Driving The Growth Of The Chemicals Market?
The chemicals market is also set to ride the wave of rising demand for inorganic chemicals in the fertilizer industry. Fertilizers, either naturally made or manufactured synthetically, contain chemical elements that enhance the growth and productivity of plants. Inorganic fertilizers, in particular, consist of essential inorganic chemicals, consequently aiding crops' sustenance and increasing overall productivity. Hence, the rising demand for inorganic chemicals in the fertilizer industry is all set to play catalyst in the growth of the chemicals market.

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Which Leading Companies Are Driving The Growth Of The Chemicals Market Share?
Key industry players presiding over the chemicals market include major companies such as Sinopec Limited, China National Chemical Corporation ChemChina, BASF SE, Procter & Gamble Company, Unilever plc, Dow Inc., Saudi Basic Industries Corporation SABIC, LyondellBasell Industries N.V., L'Oreal SA, LG Chem Ltd., Mitsubishi Chemical Holdings Corp., Wanhua Chemical Group Co. Ltd., Sumitomo Chemical Co. Ltd., Evonik Industries AG, Covestro AG, PPG Industries Inc., Solvay S.A., Arkema S.A., DuPont de Nemours Inc., Air Products and Chemicals Inc., Shin-Etsu Chemical Co. Ltd., Akzo Nobel N.V., Eastman Chemical Company, Celanese Corporation, Huntsman Corporation, Formosa Plastics Corporation, FMC Corporation, Guardian Industries LLC, JXTG Holdings Inc., Clariant AG, Nippon Paint Holdings Co. Ltd., Henkel AG & Co. KGaA, The Sherwin-Williams Company, DIC Corporation.

How Is The Global Chemicals Market Segmented?
Innovative technologies, such as blockchain, are being introduced by these industry leaders to enhance visibility along circular polymers and chemicals value chains. Blockchain technology prioritizes supply chain visibility and carries substantial importance within the polymers and chemicals sector. This transparency is particularly crucial considering the industry's multiple processing stages and the frequent blending and co-processing of materials.

What Are The Leading Region In The Chemicals Market?
Regionally, Asia-Pacific took the lead as the largest market region for chemicals in 2024, followed closely by North America. The report covers a wide geographical area, extending its analysis to Western Europe, Eastern Europe, South America, the Middle East and Africa.

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