The Chemical Intermediate Market Size was valued at USD 99.8 Billion in 2022. The Chemical Intermediate industry is projected to grow from USD 108.4 Billion in 2023 to USD 211.4 Billion by 2032, exhibiting a compound yearly growth rate (CAGR) of 8.70% during the forecast period (2023 - 2032). Increased demand for chemical intermediates from end-use industries and the increasing demand for bio-based building blocks are the key market drivers enhancing the growth of the market.            
Source: The Secondary Research, Primary Research, MRFR Database, and Analyst Review
Market CAGR for chemical intermediates is being driven by the rising demand for chemical intermediates from end-user industries. The production of a comprehensive range of chemicals requires chemical intermediates as an important component. Therefore there is an increasing requirement to generate a large range of chemicals in the business. In order to make a vast range of compounds, chemical intermediates are used as a building component.
The chemical intermediates are largely being used to generate agricultural chemicals like fertilizers and insecticides. Thus, increasing agricultural production is the prime booster of the chemical intermediate market growth. Additionally, the pharmaceutical section also frequently utilizes chemical intermediates for the production of medicines. The rise of the chemical industry in healthcare is due to the increasing disease prevalence and ongoing strive to produce new treatments. With the use of 1-hydroxy hexane-2, and 5-dione as a chemical intermediary, there is an increasing need for bio-based 5-hydroxymethylfurfural building blocks that further help the intermediate chemical market to grow globally. The HMF building blocks can be cured in high yield from biomass and converted to different interesting products in simple steps. In order to make possible the conversion of HMF to 1-hydroxy hexane-2, 5-dione (HHD), various researchers have been researching it over the last two decades. Through a hydrogenation ring-opening reaction, the HMF can be converted to HHD in an aqueous phase with different homo and heterogeneous catalysts.
The recent developments in the use of HHD as a building block for different useful compounds, inclusive of cyclopentanone derivatives, pyrroles, and triols, and also state-of-the-art HHD synthesis, consisting of mechanistic aspects of its creation. Thus the demand for chemical intermediates is rising due to the popularity of the bio-based chemical intermediate building blocks. The chemical intermediate is also being acquired for the purpose of coatings and is used in plastic manufacturing. The advancement in technology has led to the development of better and new avenues by the manufacturers of chemical intermediates. Thus, driving the Chemical Intermediate market revenue.
However, the growth of the market can be hampered due to the differences in the prices of the raw materials. Also, the primary raw materials consist of the downstream components of crude oil that are required to create chemical intermediates. Hence, crude oil demand volatility also affects the cost of the raw materials utilized in chemical intermediates. Furthermore, the difficulty in the production of bio-based chemical building blocks acts as a commercial restrain.
The global Chemical Intermediate market segmentation, based on products, includes Ethylene Amines, Caustic Products, Hydraulic Acid, and Others. The ethylene amines segment dominates the market, accounting for the largest market revenue. Ethylene amines are volatile molecules that can alter the chemicals' characteristics. Thus, ethylene amine is widely used in different applications, like building & construction additives, oil cutting, gas sweetening, seed protection, and some others. Ethylene amine has the advantages like low environmental impacts, low energy utilization, and better yields compared to other products, therefore increasing the demand in the market.
Figure 1: Global Chemical Intermediate Market, by Product, 2022 & 2032 (USD Billion)Â Â Â Â Â Â Â Â Â Â Â Â Â 
Source: The Secondary Research, Primary Research, MRFR Database, and Analyst Review
The global Chemical Intermediate market segmentation, based on end users, includes Energy & Power, Healthcare, Chemical & Petrochemical, Agriculture, and Others. The healthcare category dominates the market of chemical intermediates. The rising number of cases for chronic diseases and the growing research and development initiatives and activities in the pharmaceutical industries are boosting the intermediate chemical market. The developing technologies used, like bioinformatics, high throughput, and combinatorial chemistry in order to enhance candidate identification, have grown. Furthermore, drug research has developed due to the new chemical intermediate forms that allow the approach to be more refined, dependable, and time-consuming.
By region, the study offers market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The North American Chemical Intermediate market area dominates the market with the increasing utilization of chemical intermediates in chemical industries. There is an increasing amount of investment in the research and development section for boosting the regional chemical intermediate market growth.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, Japan, India, China, Australia, South Korea, and Brazil.
Figure 2: GLOBAL CHEMICAL INTERMEDIATE MARKET SHARE BY REGION 2022 (USD Billion)Â Â Â Â Â Â Â Â Â Â Â Â 
Source: The Secondary Research, Primary Research, MRFR Database, and Analyst Review
The Asia-Pacific Chemical Intermediate Market accounts for the second-largest market revenue due to the surging demand for chemical intermediates in this region's textile and leather industries. Moreover, China’s Chemical Intermediate market held the largest market share, and the Indian Chemical Intermediate market was the rapid-growing market in the Asia-Pacific region.
Europe's Chemical Intermediate market is expected to grow at the fastest CAGR from 2023 to 2032. This is due to the increasing requirement in different industries in this region. Further, the German Chemical Intermediate market held the largest market share, and the UK Chemical Intermediate market was the rapid-growing market in the European region.
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Chemical Intermediate market grow even more. Market participants are also undertaking various strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, the Chemical Intermediate industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics manufacturers used in the global Chemical Intermediate industry to benefit clients and increase the market sector. In recent years, the Chemical Intermediate industry has offered some of the most significant advantages to the chemical industry. Major players in the Chemical Intermediate market, including Deepak Nitrite Ltd., BASF SE, Rossari Biotech Ltd., INVISTA Nylon Chemical Co. Ltd., Stepan Company, LG Royal DSM, Chevron Corporation, Himalaya Chemicals, Akzo Nobel NV, and others, are attempting to increase market demand by investing in research and development operations.
BASF is the world's leading chemical company. In March 2016, the company concluded its two-step capacity expansion for the intermediate chemical 1,4-butanediol (BD) by roughly 20 percent at its Verbund site in Geismar, Louisiana, while the first quarter of 2016. the investment raised the production capacity by implementing measures to fuel efficiency and enhanced infrastructure. With this expansion, BASF decided to strengthen its position in the market of South and North America and meet the growing chemical intermediate requirement of the customers from the local assets in Geismar. Additionally, BASF invested in various products in North America, recently in formic acid, to spread the firm availability in the market and the commitment to the customers. BASF is a Tire-1 Company in the market of intermediate chemicals, and the expansion strategy of the company will boost the market growth.
Deepak Nitrite Ltd., is a company of chemical manufacturer in India. Deepak Nitrite generates a wide range of chemicals, inclusive of colorant, agrochemicals, rubber, specialty, and fine chemicals, and pharmaceuticals. In September 2017, an ambitious target to attain USD 1 billion in turnovers was set by intermediate chemicals major Deepak Nitrite in the next three to four years, along with its 1,400 crore rupees phenol-acetate facility at Petroleum, Chemicals And Petrochemicals Investment Region (PCPIR) in Dahej, Gujarat. The largest phenol-acetone plant is being set up by the company at Dahej PCPIR, with a capacity of about 200,000 tonnes per year. Upon the commissioning of the project, it will create many new opportunities for India's intermediate chemical market.
March 2022: KaraMD announced Pure Health Apple Cider Vinegar Gummies, a vegan gummy aimed to aid ketosis, digestion regulation, weight management and encourage greater energy levels.
July 2021: Rossari Biotech Ltd, a specialty chemicals manufacturer, announced the aim to acquire Tristar Intermediates Pvt. Ltd. Rossari. According to the subject to customary closing conditions and the agreement terms, they will acquire all the equity share capital of Tristar Intermediates.
February 2020: The construction of the adiponitrile plant was started by INVISTA Nylon Chemicals Co., Ltd at the Shanghai chemical industry park with 400,000 tons per year. This more than 7 billion RMB investment will assist in meeting the increasing requirement for nylon 6,6 chemicals intermediates in China and the Asia Pacific region.
| Report Attribute/Metric | Details |
| Market Size 2022 | USD 99.8 Billion |
| Market Size 2023 | USD 108.4 Billion |
| Market Size 2032 | USD 211.4 Billion |
| Compound Annual Growth Rate (CAGR) | 8.70% (2023-2032) |
| Base Year | 2022 |
| Market Forecast Period | 2023-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, Distribution Channel, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The US, Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Deepak Nitrite Ltd., BASF SE, Rossari Biotech Ltd., INVISTA Nylon Chemical Co. Ltd., Stepan Company, LG Royal DSM, Chevron Corporation, Himalaya Chemicals, Akzo Nobel NV. |
| Key Market Opportunities | rising utilization of chemical intermediates in drug production. |
| Key Market Dynamics | Increased demand for bio-based building blocks. |
Chemical Intermediate Market Highlights:
Frequently Asked Questions (FAQ) :
The global Chemical Intermediate market size was valued at USD 99.8 Billion in 2022.
The global market is foreseen to grow at a CAGR of 8.70% during the forecast period, 2023-2032.
North America had the largest share of the Chemical Intermediate Market
The key players in the market are Deepak Nitrite Ltd., BASF SE, Rossari Biotech Ltd., INVISTA Nylon Chemical Co. Ltd., Stepan Company, LG Royal DSM, Chevron Corporation, Himalaya Chemicals, and Akzo Nobel NV.
The ethylene amines category dominated the market in 2022.
The healthcare industry had the largest share of the Chemical Intermediate Market.
Senior Research Analyst With an experience of over five years in market research industry (chemicals & materials domain), i gather and analyze market data from diverse sources to produce results, which are then presented back to a client. also, provide recommendations based on the findings. as a senior research analyst, i perform quality checks (qc) for market estimations, qc for reports, and handle queries and work extensively on client customizations. also, handle the responsibilities of client proposals, report planning, report finalization, and execution
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