Chemicals & Materials Market Research Report

The chemicals and materials sector stands as one of the world's largest industries. A 2019 report from the International Council of Chemical Associations revealed that this sector was responsible for supporting approximately 120 million jobs and contributing a substantial USD 5.7 trillion to the ... global GDP. Its primary objective revolves around the production, distribution, and innovation of chemicals serving both consumers and manufacturers. This extensive sector can be broadly categorized into two segments: organic and inorganic chemicals. The roots of large-scale chemical production trace back to the late 1700s when alkaline salts of sodium, potassium, and alkalis were first manufactured on a widespread basis. A significant turning point occurred in 1872 when a cost-effective and more efficient method for producing alkalis emerged, marking a revolution in the industry. Major American companies played a pivotal role during World War I and II by venturing into the synthesis of rubber and other chemical products due to the scarcity of natural rubber and chemicals from Germany. In the 2000s, the U.S. chemical industry took a proactive approach to reduce its environmental impact by working towards the development of more sustainable products. This gave rise to the green chemistry movement, as endorsed by the American Chemical Society. Green chemistry involves the utilization, creation, and design of chemical processes and products that aim to eliminate or reduce the reliance on toxic chemicals. However, the chemical industry faced disruptions due to the COVID-19 pandemic. Consequently, companies have been realigning their strategies, particularly in areas such as technology and research and development (R&D) activities. The Market Intelligence plays a crucial role in connecting numerous markets and value chains within the chemicals and materials sector to provide valuable insights and niche market forecasts. We are committed to delivering precise reports.