Chemicals And Plastics - Global Outlook 2021

The year 2020 witnessed a global Covid pandemic and the biggest GDP reduction since the Great Depression of 1929. Of course, Chemicals & Plastics (C&P) have also been affected globally, but there is no public data available yet for the year.

We will take a look at 2019 and 2024. Most experts are saying that 2021 will be a recovery year, and the International Monetary Fund (IMF) has made GDP forecasts by region.

In this article I will share global market data for C&P with regional details for installed capacity and operating rates, along with current (2019) and future (2024) demand and growth rates. The demand forecast presented here is aligned with the IMF data.

This aggregated market analysis was executed on 147 C&P products totaling 3.6 billion MT (7.8 trillion lb.) of global products. These products represent US$2.5 trillion of revenue in 2019. According toStatista, this represents 44% of the global chemical industry, in other words, a good representation of total production.

Background

There are thousands of chemical products on the market. However, the data from this market analysis are restricted to chemicals most consumed in the industry (solid, liquid, or gas) considered as commodity chemicals. They…