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Phase-Xs | Biologics & Biosimilars | Coherent Market Insights

Impact Analysis of Covid-19

The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.

Definition of Market/Industry:

Commodity chemicals are bulk chemicals that are produced on a large scale and play a major role in the production of other chemicals. Chemicals produced by using commodity chemicals are used across a wide range of applications are adhesives, plastics, construction materials, apparel, and tires. They are classified under broad categories such as acetic acid, acrylate esters, acetone, benzene, adipic acid, acrylonitrile, butadiene, bisphenol, butanediol, hexane, butyl acetate, melamine, propylene, methanol, polyvinyl chloride, methyl, glycol, and glycerine. All these chemicals are either used directly or indirectly across various manufacturing industries.

The North America commodity chemicals market is estimated to be valued at US$ 57,611.94 million in 2021 and is expected to exhibit a CAGR of 5.70 % over the forecast period (2021-2028).

Recent Developments:

  • On December 9, 2020 BASF announced that they will its prices in the United States and Canada for select polyetheramine products with effective from January 1, 2021 or as existing contracts permit. BASF’s amine products are featured in many applications as highly efficient curing agents and used in various segments including coatings and sealing compounds, for use in wind energy and electrical industries, as well as in composites, adhesives and flooring.
  • In November 2020, Cabot Corporation announced carbon black capacity expansion in Cilegon, Indonesia by adding approximately 80,000 metric tons per year of additional production capacity. This is expected to be completed in 2021.
  • On August 18, 2021 –Dow chemical company announced that it is making an investment in methyl acrylate production in the US Gulf Coast. The new 50 kiloton nameplate capacity of methyl acrylate, set to be online in the first half of 2022, will be produced at St. Charles Operations in Louisiana, USA and will enable global growth with a focus on supplying North American demand.

Figure 1. North America Commodity Chemicals Market Value (US$ Mn), by Country, 2020

North America Commodity Chemicals  | Coherent Market Insights

U.S. held dominant position in the North America commodity chemicals market in 2020, accounting for 93% share in terms of revenue, followed by Canada.

Drivers:

Growth in the development of the building &construction industry with high-quality and energy-efficient products is expected to propel the growth of the North America Commodity Chemicals market. Growing usage of commodity chemicals to produce proactive and protective coatings and lightweight plastic products is augmenting the market growth over the forecast period.

Rising demand for multi-purpose, high-quality paints and coatings with excellent weather resistance properties is projected to propel the growth of the U.S. Commodity Chemicals market. Commodity chemicals such as resins, pigments, and solvents are primarily used to paint and coatings, these chemicals have different in the formulation of paints. 

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North America Commodity Chemicals Market Report Coverage

Report Coverage Details
Base Year: 2020 Market Size in 2020: US$ 54,764.2 Mn
Historical Data for: 2017 to 2020 Forecast Period: 2021 to 2028
Forecast Period 2021 to 2028 CAGR: 5.7% 2028 Value Projection: US$ 76,374.20 Mn
Geographies covered:
  • North America: U.S. and Canada
Segments covered:
  • By Product: Ester, Ether, Amine, Alcohol, Aliphatic Hydrocarbon, Aromatic Hydrocarbon, Chlorinated Solvents, Ketones, Fatty Chemicals, Chelating Agents and Others 
  • By End-use: Plastics & Rubber, Electronics & IT, Food & Beverages, Pharmaceuticals & Personal Care, Building & Construction, Automotive, Agriculture, Mining, Oil & Gas, Household, Industrial and Institutional (HI & I) and Others
Companies covered:

BASF SE, Bayer Group, AkzoNobel N.V., The Dow Chemical Company, LyondellBasell Industries Holdings B.V., E.I. DuPont de Nemours and Company, Mitsui Chemicals, Braskem SA, PPG Industries, and Eastman Chemical Company

Growth Drivers:
  • Rise is construction sector
  • Growing demand for high-quality paints 
Restraints & Challenges:
  • Strict rules &regulations pertaining production of commodity chemicals 

Market Opportunities

Recovery in the oil &gas sector in the North America region due to increasing investment is expected to propel the market growth of commodity chemical. For instance, in 2018, the US overtook Saudi Arabia to become the world’s leading producer of crude oil outputting 17,886,000 barrels per day (bpd). Thus, growth in the oil &gas sector in the U.S. is expected to favor the market growth.

Strong growth in the U.S. economy due to increasing consumer spending along with the demographic and policy changes. This is expected to fuel the market growth of Commodity Chemicals in the region. According to Chemical Processing, in the United States, gross domestic product (GDP) grew 2.9% during 2018. 

Market Trends

Booming aerospace industry in North America has increased the production of commodity chemicals over the last past few years. According to The International Trade Administration (ITA), in 2018, the U.S. aerospace industry contributed $151 billion in export sales to the U.S. economy. Moreover, at the end of 2018, foreign direct investment (FDI) into the U.S. aerospace industry totaled nearly $22 billion.

Growth in the food industry due to increasing consumer and government spending is expected to accelerate the growth of the North America Commodity Chemicals market. According to the United States Department of Agriculture Economic Research Service, in 2018, U.S. consumers, businesses, and government entities spent $1.71 trillion on food and beverages in grocery stores and other retailers and on away-from-home meals and snacks.

Figure 2. North America Commodity Chemicals Market Share, By End Use , 2020

North America Commodity Chemicals  | Coherent Market Insights

Key Takeaways of the Graph:

On the basis end use Household, Industrial and Institutional (HI & I) end use industry dominated the market in 2020, held 37.0% market share. This end use industry segment 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

Market Restraints

Intense competition in the North America commodity chemical due to the presence of various domestic and international players has decreased the profitability. This is expected to hamper the market growth over the forecast period.

Growing environmental concerns has led to the implementation of strict regulations by the U.S. government which has affected the production and exporting of commodity chemicals. This is projected to hamper the growth of the North America Commodity Chemicals market.

Competitive Section:

Company Names 

  1. BASF SE
  2. Bayer Group
  3. AkzoNobel N.V.
  4. The Dow Chemical Company
  5. LyondellBasell Industries Holdings B.V.
  6. E.I. DuPont de Nemours and Company
  7. Mitsui Chemicals
  8. Braskem SA
  9. PPG Industries
  10. Eastman Chemical Company

Commodity chemicals constitute a vast array of substances that are manufactured on a large scale in order to meet global markets. Commodity chemicals, also known as commodity chemicals, are a category of chemicals that are manufactured on a large scale in order to meet global markets. These chemicals can be divided into two main categories: primary commodities chemicals and secondary commodities chemicals. The primary commodities chemicals include those substances which are generally required in everyday life; these chemicals include gasoline, natural gas, diesel, natural oil, lubricating oil, and other liquids such as gasoline, kerosene, and others

Market Dynamics:

Increasing demand for high-quality paint &coatings from the construction industry is driving growth of the North America commodity chemicals market. Moreover, high demand for disinfectants is another major factor fostering growth of the market. Furthermore, rapid growth in the end-user industries such as pharmaceuticals, agriculture, cosmetic & personal care, oil &gas, electronics & IT, automotive, and food & beverages is further propelling growth of the market.

On the other hand, growing environmental concerns is leading to the implementation of strict regulation pertaining to manufacturing of chemicals. This is expected to hinder growth of the North America commodity chemicals market.

Key features of the study:

  • This report provides in-depth analysis of the North America commodity chemicals market, and provides market size (US$ Million & KT) and compound annual growth rate (CAGR%) for the forecast period (2021–2028), considering 2020 as the base year
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends,  regional outlook, and competitive strategies adopted by key players
  • It profiles key players in the North America commodity chemicals market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
  • Key companies covered as a part of this study include BASF SE, Bayer Group, AkzoNobel N.V., The Dow Chemical Company, LyondellBasell Industries Holdings B.V., E.I. DuPont de Nemours and Company, Mitsui Chemicals, Braskem SA, PPG Industries, and Eastman Chemical Company
  • Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
  • The North America commodity chemicals market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global general anesthesia drugs market

Detailed Segmentation:

  • North America Commodity Chemicals Market, By Product :
    • Ester
    • Ether
    • Amine
    • Alcohol
    • Aliphatic Hydrocarbon
    • Aromatic Hydrocarbon
    • Chlorinated Solvents
    • Ketones
    • Fatty Chemicals
    • Chelating Agents
    • Others
  • North America Commodity Chemicals Market, By End-Use
    • Plastics & Rubber
    • Electronics & IT
    • Food & Beverages
    • Pharmaceuticals & Personal Care
    • Building & Construction
    • Automotive
    • Agriculture
    • Mining
    • Oil & Gas
    • Household, Industrial and Institutional (HI & I)
    • Others
  • North America Commodity Chemicals Market, By Region:
    • U.S.
      • By Product :
        • Ester
        • Ether
        • Amine
        • Alcohol
        • Aliphatic Hydrocarbon
        • Aromatic Hydrocarbon
        • Chlorinated Solvents
        • Ketones
        • Fatty Chemicals
        • Chelating Agents
        • Others
      • By End-Use
        • Plastics & Rubber
        • Electronics & IT
        • Food & Beverages
        • Pharmaceuticals & Personal Care
        • Building & Construction
        • Automotive
        • Agriculture
        • Mining
        • Oil & Gas
        • Household, Industrial and Institutional (HI & I)
        • Others
    • Canada
      • By Product :
        • Ester
        • Ether
        • Amine
        • Alcohol
        • Aliphatic Hydrocarbon
        • Aromatic Hydrocarbon
        • Chlorinated Solvents
        • Ketones
        • Fatty Chemicals
        • Chelating Agents
        • Others
      • By End-Use
        • Plastics & Rubber
        • Electronics & IT
        • Food & Beverages
        • Pharmaceuticals & Personal Care
        • Building & Construction
        • Automotive
        • Agriculture
        • Mining
        • Oil & Gas
        • Household, Industrial and Institutional (HI & I)
        • Others
  • Company Profiles
    • BASF SE*
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Key Strategies
      • Recent Developments
      • Future Plans
    • Bayer Group
    • Cabot Corporation
    • AkzoNobel N.V.
    • The Dow Chemical Company
    • LyondellBasell Industries Holdings B.V.
    • I. DuPont de Nemours and Company
    • Mitsui Chemicals
    • Braskem SA
    • PPG Industries
    • Eastman Chemical Company

“*” marked represents similar segmentation in other categories in the respective section.

Table of Contents

  1. Research Objectives and Assumptions
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet, By Product
      • Market Snippet, By End-Use
      • Market Snippet, By Country
    • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restraints
      • Market Opportunities
      • Market Trends
      • PORTER’s Five Forces Analysis
      • PEST Analysis
      • Key Developments
      • Market Attractiveness Analysis
  4. North America Commodity Chemicals Market - Impact of Coronavirus (COVID-19) Pandemic
    • Overview
    • Factors Affecting North America Commodity Chemicals Market – COVID-19
    • Impact Analysis
  5. North America Commodity Chemicals Market, By Product, 2017- 2028 (US$ Mn & KT)
    • Introduction
      • Market Share Analysis, 2019, 2022, and 2028 (%)
      • Y-o-Y Growth Analysis, 2021 - 2028
      • Segment Trends
    • Ester
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2021 - 2028, (US$ Mn & KT)
    • Ether
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2021 - 2028, (US$ Mn & KT)
    • Amines
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2021 - 2028, (US$ Mn & KT)
    • Alcohol
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2021 - 2028, (US$ Mn & KT)
    • Aliphatic Hydrocarbon
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2021 - 2028, (US$ Mn & KT)
    • Aromatic Hydrocarbon
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2021 - 2028, (US$ Mn & KT)
    • Chlorinated Solvents
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2021 - 2028, (US$ Mn & KT)
    • Ketones
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2021 - 2028, (US$ Mn & KT)
    • Fatty Chemicals
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2021 - 2028, (US$ Mn & KT)
    • Chelating Agents
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2021 - 2028, (US$ Mn & KT)
    • Others
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2021 - 2028, (US$ Mn & KT)
  6. North America Commodity Chemicals Market, By End-Use, 2017- 2028 (US$ Mn & KT)
    • Introduction
      • Market Share Analysis, 2019, 2022, and 2028 (%)
      • Y-o-Y Growth Analysis, 2021 - 2028
      • Segment Trends
    • Plastics & Rubber
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2021 - 2028, (US$ Mn & KT)
    • Electronics & IT
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2021 - 2028, (US$ Mn & KT)
    • Food & Beverages
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2021 - 2028, (US$ Mn & KT)
    • Pharmaceutical & Personal Care
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2021 - 2028, (US$ Mn & KT)
    • Building & Construction
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2021 - 2028, (US$ Mn & KT)
    • Automotive
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2021 - 2028, (US$ Mn & KT)
    • Agriculture
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2021 - 2028, (US$ Mn & KT)
    • Mining
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2021 - 2028, (US$ Mn & KT)
    • Oil & Gas
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2021 - 2028, (US$ Mn & KT)
    • Household, Industrial and Institutional (HI & I)
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2021 - 2028, (US$ Mn & KT)
    • Others
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2021 - 2028, (US$ Mn & KT)
  7. North America Commodity Chemicals Market, By Country, 2017- 2028 (US$ Mn & KT)
    • Introduction
      • Market Share Analysis, By Country, 2019, 2022, and 2028 (%)
      • Y-o-Y Growth Analysis, For Regions, 2021 - 2028
    • North America
      • Market Share Analysis, By Country, 2019, 2022, and 2028 (%)
      • Y-o-Y Growth Analysis, By Country, 2021 - 2028
        • U.S.
          • Country Trends
          • Market Size and Forecast, By Product, 2017- 2028 (US$ Mn & KT)
          • Market Size and Forecast, By End-Use, 2017- 2028 (US$ Mn & KT)
          •  
        • Canada
          • Country Trends Market Size and Forecast, By Product, 2017- 2028 (US$ Mn & KT)
          • Market Size and Forecast, By End-Use, 2017- 2028 (US$ Mn & KT)
  8. Competitive Landscape
    • Market Share Analysis
    • Company Profiles
      • BASF SE
        • Company Overview
        • Component Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • Bayer Group
        • Company Overview
        • Component Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • Cabot Corporation
        • Company Overview
        • Component Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • AkzoNobel N.V.
        • Company Overview
        • Component Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • The Dow Chemical Company
        • Company Overview
        • Component Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • LyondellBasell Industries Holdings B.V.
        • Company Overview
        • Component Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • I. DuPont de Nemours and Company
        • Company Overview
        • Component Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • Mitsui Chemicals
        • Company Overview
        • Component Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • Braskem SA
        • Company Overview
        • Component Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • PPG Industries
        • Company Overview
        • Component Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • Eastman Chemical Company
        • Company Overview
        • Component Portfolio
        • Financial Performance
        • Recent Developments/Updates
  9. Section
    • References
    • Research Methodology
    • About us and Sales Contact

* Browse 30 market data tables* and 20 figures* on "Commodity Chemicals Market” – North America forecast to 2028.

FAQgrowicon

Frequently Asked Questions

The North America commodity chemicals market size is estimated to be valued at US$ 54,764.2 Million in 2020 and is expected to exhibit a CAGR of 5.70% between 2021 and 2028.
Rapid growth in the building & construction industry is propeling growth of the market.
The Household, Industrial and Institutional (HI & I) segment is the leading component segment in the market.
Intense competition and strict regulations pertaining production of chemicals are expected to hinder growth of the market.
BASF SE, Bayer Group, AkzoNobel N.V., The Dow Chemical Company, LyondellBasell Industries Holdings B.V., E.I. DuPont de Nemours and Company, Mitsui Chemicals, Braskem SA, PPG Industries, and Eastman Chemical Company
Increasing production of commodity chemicals in the region is one of the key trend in the market.
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