The chemical industry comprises companies that produce industrial chemicals. It converts raw materials (oil, natural gas, air, water, metals, and minerals) into various products such as acids, bases, alkalis, and salts. Most of these
products are used in the manufacture of other industrial goods, including glass, fertilizers, rubber, leather, paper, and textiles.
The chemical industry includes the following sub-sectors:
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Manufacture of basic chemicals, fertilizers, and nitrogen compounds, plastics, and synthetic rubber in primary forms.
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Manufacture of pesticides and other agrochemical products.
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Manufacture of paints, varnishes, and similar coatings, printing ink, and mastics.
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Manufacture of soap, detergents, cleaning and polishing products, perfumes, and toilet preparations.
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Manufacture of other chemical products, including explosives, pyrotechnic products, glues, essential oils, and other specialized chemicals (e.g., photographic chemical materials, composite diagnostic preparations, etc.).
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Manufacture of man-made fibers.
The International Council of Chemical Associations (ICCA) estimates that over 95 percent of all manufactured goods rely on some form of industrial chemical process.
Largest chemical companies (market cap, billion USD):
- Linde (215.41)
- Air Liquide (113.55)
- Air Products and Chemicals (64.94)
- Merck KGaA (63.83)
- Shin-Etsu Chemical (58.55)
- SABIC (51.79)
- BASF (51.12)
- Wesfarmers (50.23)
- Sika (42.73)
- Corteva (41)
Trends in the chemical industry include sustainability and the circular economy, digitalization, innovation, and accelerated globalization.
