Global Commodity Chemicals Market: An Overview
Commodity chemicals market is growing at a healthy CAGR in recent times. The commodity chemicals market is expected to register growth during the forecast period, due to several factors. These factors include growing demand in commodity plastic, cost-effective nature, and rise in applications in new industries.
Commodity chemicals are also known as bulk chemicals and act as ingredients to produce other chemicals. These are sold in large quantities and are useful in the manufacturing of construction materials, tires, adhesives, apparel, and plastics. Commodity chemicals market trades in broad categories including plastic resins, organics, synthetic rubbers, inorganics, explosives, petrochemicals, and films. Glycol, glycerines, methyl, methanol, benzene, acetone, acetic acid, etc. The global commodity chemicals market tends to be extremely price-sensitive due to low product differentiation.
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An upcoming Transparency Market Research report sheds light on the current and future trends of the global commodity chemicals market. It provides details on the market’s overview, current trends and challenges, opportunities in the coming years, and growth forecasts for 2018-2026. These insights are crucial for both prevailing and upcoming players in the global commodity chemicals market.
Global Commodity Chemicals Market: Key Trends
Global commodity chemicals market is driven by a rising demand from the plastic industry. This industry is strengthened by a growing demand from the food & beverage sector and consumer retail stores globally. Commodity chemicals offer its unique lightweight and safe features to the plastic industry to produce various goods. The commodity chemicals market is expected to grow as close alternatives such as glass simply do not match up in cost-effectiveness and reliability.
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Additionally, the commodity chemicals market offers distinct advantages over specialty chemicals in relevant sectors. The market also offers inexpensive goods which are widely available. The widespread availability of commodity chemicals is also leading to its growth in transportation, automotive, and personal care industry.
Global commodity chemicals market is also faces certain challenges during the forecast period. Growing scrutiny of chemicals and increasing environmental regulations are expected to hinder the market growth during the forecast period. Additionally, the price instability in the crude oil and natural gas market can act as a hindrance to growth as well. However, growing demand in the pharmaceutical industry, in agriculture, and mining is expected to bring good news to the global commodity chemicals market.
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Global Commodity Chemicals Market: Regional Outlook
The global commodity chemicals market is divided into five regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Asia Pacific is expected to witness the fastest growth during the forecast period. The Asia Pacific commodity chemicals market is driven by growing demand for paper-based packaging. The regional market will also witness major growth as manufacturing of commodity chemicals shifts from North America and Europe to Asia Pacific. Growing support for manufacturing in India and China is expected to drive the global commodity chemicals market.
Global Commodity Chemicals Market: Competitive Dynamics
The global commodity chemicals market is largely fragmented and price-sensitive. The index prices of various chemicals are regularly published in magazines, which adds a layer of transparency in the market. The major companies in the market are Ecolab, Kemira Oyi, Solenis, BASF, and Akzonobel N.V.
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