The global industrial chemicals market reached USD 1.2 trillion in 2024, driven by escalating chemicals consumption across construction, automotive, pharmaceuticals, agriculture, electronics, and advanced manufacturing sectors. Asia Pacific and South America dominate volume growth due to cost-efficient production, large-scale commodity chemicals, and private-label blends, while North America and Western Europe sustain premium pricing for specialty and high-performance chemicals under strict regulatory frameworks such as REACH, TSCA, and EPA standards. Growth is fueled by urban infrastructure expansion, industrial modernization, sustainability initiatives, and green chemistry adoption, whereas supply faces challenges from volatile raw material costs, energy-intensive production, and logistical constraints. Global exports of industrial chemicals under HS 28–38 surpassed USD 520 billion in 2023, highlighting the cross-border trade dependency of the sector.
Industrial Chemicals overview
Published by MMR Statistics Research Team, Updated
