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Global Business of Chemistry

Economic Elements of Chemistry — Last Updated Oct. 30, 2024

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Scott Jensen
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The business of chemistry is worldwide in scope, applying science to support and enhance the quality of life. It is a large, mature industry, with numerous suppliers and customers, although in some regions, the industry concentration can be quite high, with only a few producers. Chemical manufacturers in industrialized nations typically produce a wide variety of chemicals ranging from commodity industrial chemicals to specialty chemicals. In developing nations, domestic chemical production tends toward less complex chemistries such as fertilizers and inorganic commodity chemicals.  

26%
Of chemical shipments exported globally
The U.S. is the world’s largest chemical producer after China, accounting for more than 10% of global chemical shipments.

Global Chemical Shipments by Sector

Global Chemical Shipments by Region

Cargo Ship Being Loaded at Port

Global Chemical Exports & Imports by Region

World Trade

Chemical manufacturers have developed global supply chains to create and deliver the products of chemistry efficiently. International trade, including related-party trade, is essential to the global business of chemistry. Market access and minimizing tariff and nontariff barriers has been key to the globalization of the chemical industry and the fluidity of world trade. 

57%
Imported between companies & subsidiaries

 

 

39%
Exported between companies & subsidiaries

Global CPRI

The Global Chemical Production Regional Index (CPRI) measures production activity by country and region. Estimated on a monthly basis, the global CPRI is available by segment and country/region.