Chemical Industry

Chemical products make up one of the world's largest industries, partly because of the ubiquity of chemicals in the products used in everyday life, in addition to the breadth of chemical products that exist. Although the chemicals industry has developed alongside the industrial development of the world, this established industry is undergoing a period of change.

With Asia already standing as the industry’s largest revenue-generating region, it is fitting that China will become the center of the world’s chemical industry in the coming years. Chemical sales growth will likely be challenged by new environmental regulations. Emergent digital technologies may pave the way for increased productivity and shift the existing chemical business paradigms.

Global chemical industry revenue 2019
4.73 trillion U.S. dollars.
Chemical industry's largest revenue generating region
Asia
Leading chemical company worldwide based on revenue
BASF

Market size

Chemical industry shows continued growth amidst global challenges

Total revenue of the chemical industry worldwide from 2005 to 2022 (in billion U.S. dollars)

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The total revenue of the chemical industry worldwide has been increasing steadily over the years, and whilst the COVID-19 pandemic had a considerable impact on the industry; causing the revenue to decrease 35 percent in 2020, the industry showed signs of recovery in 2021, reaching a record high revenue of 4.7 trillion U.S. dollars. Despite this volatility, the chemical industry remains a significant contributor to the global economy and is expected to continue evolving as innovations emerge.

Chemical industry worldwide
United States chemical industry
UK chemical industry

Market segments

Diverse applications of chemicals in different downstream industries

Sales value of chemicals worldwide in 2022, by segment (in billion euros)

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Further details: Visit original statistic Sales value of chemicals worldwide in 2022, by segment (in billion euros)

The chemicals industry encompasses multiple market segments with diverse products, customers, and market demands. Pharmaceuticals constituted one of the largest industry sectors in terms of global sales value, followed by fine and specialty chemicals. Bulk inorganic chemicals, petrochemicals, polymers, and detergents are also significant sectors in the industry. These different market segments serve a variety of diverse purposes in catering to various downstream industries.

Global agrochemical industry
Global paint and coatings industry
Global petrochemical industry

Industry trends

The chemical industry as a global market: China emerges as major player

Value of global chemical exports in 2022, by region (in billion U.S. dollars)

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The chemical industry is a global market that plays a significant role in the world's economy. Europe currently dominates the global trade of chemicals with 709 billion euros of chemical exports in 2021. Following close behind is Asia-Pacific with 653 billion euros of chemical exports. Asia, particularly China, is expected to be a significant driver of chemical consumption growth in the coming years, with China's rapid industrialization leading to an increased demand for chemical products.

Coronavirus' impact on the global chemical industry
CO2 emissions of global chemical production
Chemical export value worldwide

Industry leaders

BASF is the world's leading chemical company

2023 ranking of the global leading chemical companies based on revenue (in billion U.S. dollars)

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BASF, a multinational chemical company headquartered in Ludwigshafen, Germany, has retained its position as the world's largest chemical company by annual revenue for several consecutive years. The company's diverse portfolio has led to impressive financial results, with a revenue surpassing 94.83 billion U.S. dollars in 2023. Dow Chemical and LyondellBasell, both headquartered in the United States, have also emerged as leading global chemical companies, consistently ranking among the top five.

Leading chemical companies
BASF
Dow Chemical

State of the industry

  • Top chemical companies
  • Agricultural chemical industry worldwide
  • Petrochemical industry worldwide
  • Paint and coatings industry worldwide
  • Chemical industry in the United States
  • Manufacturing: Chemicals in Europe - Industry Insights and Data Analysis
  • Chemical industry mergers and acquisitions worldwide
  • Chemical industry in China
  • Manufacturing: Chemicals in Asia – Industry Insights & Data Analysis
  • Top 100 companies worldwide: Chemicals & Related Products
  • Chemical fiber industry worldwide

Industry Definition

The chemical industry category offers data on the various chemical segments, including inorganic and organic chemistry, petrochemicals, agricultural chemicals, paint and coatings, materials science and composites, and others. Statista's chemical industry analysis includes production, consumption, and trade figures for a wide variety of chemical products, in addition to the key financial indicators and data about the leading companies in this industry.

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