Bulk Chemicals

Bulk chemicals are produced in higher quantities to cope up with the rising demand across industries. They are manufactured using continuous process and batch processes. Natural gas and crude oil are primarily used for the production of bulk chemicals. Several large and small scale players operate in the bulk chemicals market, thereby making this market highly fragmented. China, India and Japan are the prime markets for the bulk chemicals industry, thereby making Asia Pacific, the largest market for bulk chemicals industry. Construction, agriculture, construction, food processing, healthcare and automotive are some of the key industries for bulk chemicals. Increasing presence of these industries coupled with strengthening economic condition in the emerging economies such as China and India among others are expected to push the growth of the bulk chemicals market in the coming years.

Rising construction industry is one of the key factors driving the demand for bulk chemicals at present. According to Insights and Reports, the output of the construction industry is expected to cross the US$ 11 trillion mark by the end of the 2022. China, India and the U.S. are the key countries responsible for the exponential growth of the construction sector. India is expected to be the third largest country for the construction industry by the end of 2020. According to Insights and Reports, the government of India has aimed at investing more than US$ 350 billion for the development of infrastructure till 2021. In U.S., educational institutions and public buildings are currently driving the growth of the construction industry at present. Moreover, in China, the abolishment of the one child policy is expected to push the growth of the construction sector in the coming years.

Factor such as price instability of crude oil and natural gas due to rising inclination towards sustainable energy and rising demand and supply gap are currently restraining the growth of the construction industry.

BASF S.E, DowDupont Inc., Sinopec, ExxonMobil Corporation, Lyondell Basell Industries and SABIC among others are the key players operating in the bulk chemicals industry at present.

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