Bulk chemicals are chemicals manufactured on an enormous scale to serve global markets. Therefore, they are sometimes called commodity chemicals. Organic chemicals are made through various processes and processes called organic synthesis. Bulk chemicals include pesticides and herbicides.
The bulk chemicals are widely used in healthcare, food processing, chemical, fertilizer, construction, and automobile industries. The chemical and advanced materials industry is essential in other industries and households. Chemicals and inputs are typically raw materials used by various companies to manufacture their final products.
Aerospace, transportation, healthcare, and agriculture are some industries that rely on the advanced bulk chemicals industry. These chemicals are very different from organic chemicals, mainly derived from plants and animals. They count on natural or synthetically produced elements. Inorganic chemicals are expected to grow significantly due to their rapid growth and the booming fertilizer industry worldwide.
Another key factor driving the development of the bulk chemicals and inorganics market is the increase in end-user applications such as industrial products, paints, and coatings. The emerging chemical industry is another factor driving the growth of the bulk chemicals and inorganics market.
Production of bulk chemicals was stopped during the coronavirus pandemic across the globe due to low consumption from end-use industries like coating, agriculture, consumer durables, electronics, healthcare, food processing, construction, and automobiles. Over the past years, China has increased its bulk chemicals production and become the largest exporter worldwide. The decline in the production of chemicals in china during the COVID-19 pandemic created a significant disturbance in the supply chain and trade imbalance of bulk chemicals. Manufacturing of bulk chemicals has dropped by 21% during the year 2020.
Innovations in the chemical industry lead to new products that increase energy efficiency, improve environmental protection and reduce dependence on petroleum-based products. As global developments make the chemical industry more sophisticated, innovation as a core competency will be a crucial differentiator and critical success factor. Trade tension between US and China results in oversupply, a positive trend to drive the market.
Dow Chemical Company, Albemarle Corporation, Huntsman International LLC, and Bayer Crop Science are the leading key players in the bulk chemicals industries. BASF SE, based in Germany, is the world’s largest chemical Company (by sales). The BASF SE Company reported revenue of $92,938 million for the economic year ending December 2021 (FY2021).
Our Chemicals & Materials category segmentation encompasses:
Renewable, Speciality chemicals
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Coatings, Paints, and Additives