Basic Chemicals Market Key Players:
Fervent players in the market include;
• DowDuPont (US)
• BASF SE (Germany)
• Exxon Mobil Corporation (US)
• SABIC (Saudi Arabia)
• China Petroleum & Chemical Corporation (China)
• INEOS (Switzerland)
• LyondellBasell Industries Holdings B.V. (The Netherlands)
• Formosa Plastics Corporation (US)
• Royal Dutch Shell (The Netherlands)
• Mitsubishi Chemical Corporation (Japan)
• LG Chem (South Korea)
• Celanese Corporation (US)
• BDC Group (US)
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Basic Chemicals Market Segmentation:
The MRFR analysis is been segmented into three key dynamics for the convenience of understanding: -
By Types:
Organic (Ammonia, Chlorine, Sodium Hydroxide, others.), and Inorganic (Benzene, Ethylene, Propylene, and others) among others.
By Applications:
Plastics, Fiber, Rubber, Fertilizers, Soaps & Detergents, Adhesives, and Building Materials among others.
By Regions:
North America, Europe, APAC and Rest-of-the-World.
Basic Chemicals Market Regional Analysis:
Globally, the Asia-Pacific’s chemical industry is the most diverse with more than 70,000 modern products such as plastics, particleboards, pharmaceuticals, and paints & coatings.
The Asia Pacific is the dominating market for basic chemicals, holding the largest market share. The region witnesses the expansion of infrastructural projects and mulling to restart the construction activities conducted by both, government and private players, which, in turn, will drive the demand for basic chemicals in the region.
Simultaneously, the presence of large petrochemical manufacturers in India and China impacts the market growth positively. Furthermore, the surging demand for chemicals from some of the burgeoning industries such as automotive, and agriculture, among others are fostering the market growth.
North America region is another lucrative market for the basic chemicals. Although North America occupies comparatively a smaller share in the market, the growing reconstruction activities and increasing demand from the automotive industry are the major driving forces driving the market growth in the region. Besides, expanding aviation and marine industry contribute to the market growth.
Europe is emerging as one of the promising markets for basic chemicals with expanding packaging industry. Owing to the growing production of PET bottles and packaged beverages & food products, the region is likely to observe a significant growth during the review period. The automobile industry majorly pulls the demand for these chemicals in the region for making interiors of luxury cars.
The MEA (the Middle East & Africa) region is another substantial market in the global basic chemicals market. The market in the MEA region is projected to grow at a considerable CAGR owing to the availability of feedstock and the high investment potential. Besides, the growing demand for basic chemicals from the prominent end-use industries such as packaging, automotive, and petrochemicals fuels the market growth in the region.
Basic Chemicals Market Table of Content to be Continue……,
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