Chemical Intermediates Market Size to Reach USD 259.66 Bn by 2034

Vantage Market Research releases its latest comprehensive report on the ‘Chemical Intermediates Market ’ with a forecast period of 2025-2034. In 2023, the Global Chemical Intermediates Market size was USD 109.12 billion, and is calculated at USD 118.07 billion in 2024. The market is projected to reach USD 259.66 billion in 2034, and register a revenue CAGR of 8.2% over the forecast period (2025-2034).

Market Overview:

Global chemical intermediates market is expected to register a robust revenue growth rate over the forecast period, driven by rising demand from pharmaceuticals, agrochemicals, and automotive sectors, increasing investments in sustainable, bio-based intermediates, and steady advancements in specialty chemicals. Growth of the global chemical intermediates market is expected to incline significantly between 2025 and 2034, driven by trends such as increasingly stringent environmental regulations, steady shift toward greener solutions, and digitalization in chemical processes. Major companies in the market are entering into strategic mergers, engaging in production capacity expansion, and investing in Research and Development (R&D) initiatives to develop innovative products and achieve sustainability goals. Among the regional markets in 2023, the Asia Pacific chemical intermediates market accounted for over 50% share of global market revenue, with demand and consumption registering significantly high volumes in China and India. 

Chemical intermediates are synthesized from key raw materials such as petrochemicals, alcohols, and acids, serving as building blocks in the production of end products like pharmaceuticals, pesticides, polymers, and dyes. Chemical intermediates serve to enhance product performance, increase manufacturing efficiency, and facilitate innovations through specialized applications. Chemical intermediates are crucial in the production of various essential materials used across diverse industries, applications, and products. Among these, demand for alkylamines, acetates, diols & glycols, dicarboxylic acids, acrylic acids are significantly high and steady. These function as solvents, catalysts, additives, monomers, stabilizers, and preservatives and are used in manufacturing of resins, plastics, Polyvinyl Chloride (PVC), surfactants & detergents, paints, adhesives, and sealants, and lubricants, among other products. 

Chemical intermediates are widely used across industries including pharmaceuticals, agrochemicals, textiles & dyes, paints & coatings, personal care & cosmetics, chemicals & polymers, and others. Advancements in sustainable production, such as bio-based intermediates, are revolutionizing the market, driven by increasingly stringent environmental and government regulations and rising demand for eco-friendly solutions. Leaders in the industry are adopting green chemistry practices, improving waste management, and exploring renewable feedstocks to align with global sustainability goals. In addition, digitalization and process automation are optimizing production cycles, reducing costs, and ensuring high-quality output. 

Some Key Takeaways:

• Asia Pacific chemical intermediates market accounted for largest revenue share of over 50% in the global market in 2023, and is expected to continue to maintain its lead during the forecast period. 
• Major revenue contributors in APAC are China, India, and Japan, due to rapid industrialization and increasing demand for specialty chemicals for pharmaceuticals, agrochemicals, and manufacturing.  
• North America chemical intermediates market accounted for second-largest revenue share in the global market in 2023, with majority revenue contribution from the US. 
• Europe chemical intermediates market  growth is driven by robust chemical industries in Germany and France, rising demand from pharmaceuticals and agriculture for chemical intermediates, and expansion of plastics and petrochemical industries.
• The diols and glycols segment is expected to account for largest revenue share among the product type segments in the global chemical intermediates market over the forecast period due to wide use in the production of polyurethanes and polyester resins. 
• The solvents segment is expected to continue to dominate other function segments over the forecast period.
• The plastic manufacturing segment is expected to account for largest revenue share among the application segments over the forecast period.
• The pharmaceutical segment among the end-use industry segments is expected to account for largest revenue share over the forecast period.
• The competitive landscape in the global chemical intermediates market is highly dynamic, with both large multinational corporations and regional firms competing in an evolving market.  
• Leading companies, such as BASF, Dow, and Sinopec, hold diversified portfolios and focus on economies of scale to stay competitive.

Company List: 

• BASF
• Sinopec
• Dow
• SABIC
• INEOS
• LG Chem
• LyondellBasell
• Mitsubishi Chemical Group
• Evonik Industries
• Reliance Industries
• ExxonMobil Chemical
• Air Liquide
• Sumitomo Chemical
• Wanhua Chemical Group
• Formosa Plastics

Recent Developments:

• October 25, 2024: BASF Petronas Chemicals Sdn Bhd (BPC), which is a joint venture between BASF and Petroliam Nasional Bhd (Petronas), announced successful doubling of annual production capacity of 2-ethylhexanoic acid (2-EHAcid) at the integrated site in Kuantan, Pahang, Malaysia, to 60,000 tons from 30,000 tons. The company increased production capacity of 2-EHAcid, which is a chemical intermediate used as a compound in the production of synthetic lubricants as well as oil additive, in order to cater to rising demand from various industries, including demand for functional fluids like automotive coolants, and metal salts for paint dryers, plasticizers, stabilizers, catalysts and others. In addition to the production site in Kuantan, BASF produces 2-EHAcid at its Verbund site in Ludwigshafen, Germany, and expansion in Kuantan will enable the company to cater to rapidly rising demand for high-quality 2-ethylhexanoic acid in Asia Pacific. 
• March 4, 2024: International Chemical Investors Group (ICIG) finalized the acquisition of a majority stake in Vasant Chemicals, which is a well-established Indian manufacturer of specialty chemicals and pharmaceutical intermediates. Vasant Chemicals will now operate under the WeylChem Group, ICIG’s fine chemicals division. This acquisition is part of WeylChem’s broader strategy to strengthen its presence in the global specialty chemicals sector. For Vasant Chemicals, this partnership offers a valuable opportunity to expand its global reach and enhance the value it delivers to customers. By combining the strengths of both companies — such as expertise, advanced technologies, and resources — the acquisition is expected to generate sustainable long-term benefits for customers, employees, and stakeholders alike. The integration also aligns with ICIG’s strategic priorities, focusing on growth through collaboration and innovation within the specialty chemicals market.

Chemical Intermediates Market Segmentation:

By Product Type:

• Alkylamines
• Acetates
• Diols & Glycols
• Dicarboxylic Acids
• Acrylic Acids
• Others

By Function:

• Solvents
• Catalysts
• Additives
• Monomers
• Stabilizers
• Preservatives

By Application:

• Resin Production
• Plastic Manufacturing
• Surfactants & Detergents
• Adhesives & Sealants
• Lubricants
• Others

By End-Use Industry:

• Pharmaceuticals
• Agrochemicals
• Textiles & Dyes
• Paints & Coatings
• Personal Care & Cosmetics
• Chemicals & Polymers
  • United States

Regional Segmentation: 

North America

• Canada
• Mexico

Europe

• Germany
• United Kingdom
• France
• Italy
• Spain
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• Rest of Asia Pacific

Latin America

• Brazil
• Argentina
• Rest of Latin America 

Middle East & Africa

• Saudi Arabia
• South Africa
• United Arab Emirates
• Israel
• Rest of MEA