Basic Chemicals Market Overview to 2023
Basic chemicals are widely used in the chemical industry to produce other chemical and non-chemical products. Some of the commonly used basic chemicals include benzene, ethylene, formaldehyde, ammonia, calcium carbonate, sodium hydroxide, chlorine, and sulfuric acid among others. The product finds application in plastic, rubber, fiber, soaps & detergents, ink, solvents, and fertilizers. Reviving automotive industry in the developed regions combined with enlarging demand for fuel-efficient vehicles as a result of strict environmental regulations is uplifting the market growth. Additionally, increasing spending on the passenger vehicles in the developing regions coupled with rising disposable income of the consumers is likely to fuel the product demand.
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The global basic chemicals demand is driven by various major end-use industries such as transportation, packaging, agriculture, textile, electrical & electronic, pharmaceutical, and paints & coatings in both developed and developing regions. Growing packaging industry with surging demand for packaged beverages and food products due to convenience and improved product shelf life is propelling the basic chemicals market globally. The product consumption is increasing in developing economies such as India and China as a result of rising number of working population.
Top 10 Global key Players & Their Strategy
The key players that are involved in Global Basic Chemicals Market are Baden Aniline and Soda Factory, Dow chemicals, Bayer, Saudi basic industries, lyondellBasell industries, Linde, Henkel, Air liquide, PPG industries, Mitsubishi Chemical, Ineos and AkzoNobel.
Basic chemicals consumption is increasing in the agricultural industry as an ingredient in fertilizers owing to improved plant growth and crop protection. Burgeoning agriculture industry as a result of surging demand for nutritious food products coupled with rising health consciousness is uplifting the basic chemicals demand in agrochemicals.
- To provide historical and forecast revenue of the market segments and sub-segments with respect to four main geographies and their countries- North America, Europe, Asia, and Rest of the World (ROW).
- To provide country level analysis of the market with respect to the current market size and future prospective.
The report for Basic Chemicals of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market.
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The market for Basic Chemicals is segmented in mainly two parts i.e. by type and by application, its various sub-segments; Segmentation by type include Sodium Hyroxide, Calcium Hydroxide, Alanine, Ammonia, Glycine And Hydrazine. Whereas by application includes pulp & paper, textiles, soaps and detergents, fertilizers, medication, food and other.
Europe dominated the Global Basic Chemicals Market with the largest market share, accounting for $XX Million and is expected to grow over $XX Million by 2027. Asia pacific is expected to surpass in 2015 to become the largest market for Basic Chemicals and expected to grow at CAGR of XX% from $ XX. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.
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