3rd Advanced Chemistry World Congress

Scope & Importance

Market Report

In 2021, Global Chemical Production (excluding pharmaceuticals) is predicted to increase by 4.4 percent (2020: –0.4 percent), which is higher than the norm for the years preceding the coronavirus pandemic. This expansion will primarily occur in emerging markets (2021: +5.4 percent; 2020: +1.8 percent). We forecast a growth rate of 2.5 percent in advanced economies (2020: –4.2 percent), which is above normal for pre-crisis years. In emerging markets, the level of production from 2019 will thus already be exceeded in 2021. Overall, advanced economies' output would most likely remain significantly lower.

In the European Union, We estimate a 3.2 percent increase in chemical production (2020: –1.9 percent), almost in line with GDP growth. Domestic chemical demand should be bolstered by the predicted notable rebound in the automobile industry, as well as modest growth in the construction industry and consumables in the health and nutrition sector, as well as slightly greater growth in consumer durables. In the United Kingdom, we expect a slower pace of growth. Due to the end of the Brexit transition period and the negative economic impact of the coronavirus pandemic (2021: +2.0 percent; 2020: +1.0 percent), higher transaction costs are anticipated to reduce chemical output.

In the United States, Chemical production is expected to increase by 2.6 percent (2020: –4.3 percent). Chemical demand is predicted to benefit from continued recovery in automotive production as well as significant growth in health and nutrition and electronics, although the construction and oil and gas industries are only expected to provide a mild growth stimulus.

In South America, Chemical production is expected to lag somewhat behind the economy as a whole (2021: +3.0%; 2020: –1.1%). The rebound in automobile manufacturing, as well as agriculture, nutrition, and industrial raw materials, will boost chemical growth.

In China, We expect a 6.3 percent increase in chemical production. The world's largest chemical market (2020: 3.4 percent). After the quick recovery in output in 2020, momentum is likely to decelerate. Nonetheless, we expect demand for intermediate inputs from the chemical sector to expand across all customer industries, particularly in consumer goods and the automobile industry.

Chemical production forecasts for 2021 (excluding pharmaceuticals)

In comparison to the previous year, there has been a significant difference

In comparison to the previous year, there has been a significant difference