NORTH AMERICA COMMODITY CHEMICALS MARKET ANALYSIS

North America Commodity Chemicals Market, 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) - Size, Share, Outlook, and Opportunity Analysis, 2021 - 2028

Published In : Sep 2021
Code : CMI4653
Pages :120
Formats :
Excel and PDF
Industry : Bulk Chemicals

North America Commodity Chemicals MarketSize and Trends

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).

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

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