In 2022, the chemical industry’s total worldwide revenue stood at some 5.72 trillion U.S. dollars. In that year, the chemical industry revenue reached the highest value of the last 15 years.
The chemical industry of today
The world’s chemical industry consists of the companies that produce industrial chemicals by converting raw materials such as fossil fuels, minerals and metals, and water into thousands of different products. The chemical industry overlaps with the plastic industry, as the majority of chemical companies are also plastic producers.
Industry leaders: segmental and regional perspective
The chemical industry plays an important role in the global economy. Over the three years from 2021 to 2024, the industry is expected to grow in every segment, with overall industry growth expected to be 1.8 percent in 2024. Basic chemicals are expected to see the largest growth of any chemical segment, at 2.1 percent forecast for 2024. Regionally speaking, Asia has the largest share of the global chemicals market by far. It has consistently accounted for more than 50 percent of the global chemicals market since 2012. Accordingly, Asian chemical companies also hold prominent places: based on net income, the world’s leading chemical company as of 2022 was Dow.
