Commodity chemicals are chemicals produced in bulk often used as intermediate to create other chemicals sold as consumer products. As the chemicals are in large-scale production by several companies, they often have an average price available to the public as they are in high demand and used in a variety of ways.
Commodity Chemical Market
The chemical distribution market is divided into subcategories with the largest being commodity chemicals. The global market size for commodity chemicals was $700.71 billion in 2020. With an increasing demand for commodity plastic, new applications in emerging industries, and growing demand in the pharmaceutical industry, the market is projected to grow over the next few years. Projecting the market growth at a compound annual growth rate of 6.60%, the commodity chemical market is predicted to have a value of $1.3 trillion by the year 2030.
Key Market Contributors
To create and grow such a large market, companies must provide the commodity chemicals to their clients as desired. Since there is little differentiation between the chemicals made by the competing companies, the greatest factor in determining the best product as a customer is based on price, quantity available, and ease of transaction. The largest commodity producer in this market is BASF. Other key contributors to produce in this market to make up for the growing $700.71 billion markets include the following companies:
- PPG Industries
- LyondellBasell Industries
- Mitsubishi Chemical Holdings
- The Dow Chemical
- Akzo Nobel
Application of Commodity Chemicals
The commodity chemicals are used as intermediates for making a wide range of products to be sold to consumers. They can be categorized by the type of products they can create. Some categories of products include:
- building materials
Looking to buy Commodity Chemicals?
You’ve come to the right place! BulkChemicals2GO offers a range of commodities including:
- Glycol Ether EB
- Isopropyl Alcohol (IPA) 70%
- Mineral Spirits
At BulkChemicals2G0, we strive to match our clients with the chemicals that best fit their needs. For more information or questions, please contact us or request a quote!