Commodity Chemicals; Widely Used To Produce an Extensive Range of End-User Products

Commodity Chemicals Market

Commodity Chemicals Market


Commodity chemicals (bulk chemicals or bulk commodities) are a group of chemicals that are made on a very large scale to satisfy global markets. These chemicals can be produced in bulk quantities by a large number of chemical manufacturers. The production quality of commodity chemicals varies little, being developed in a very standardized form with exact compositional matches. These chemicals are versatile and are in huge demand in various end-use industries. Thus, industries choose to work with bulk suppliers of commodity chemicals.

Commodity chemicals are used to produce an extensive range of end-user products including plastics, adhesives, apparel, tires, and construction materials. They are commonly traded under broad categories such as organics, inorganics, synthetic rubbers, plastics resins, films, fibers, petrochemicals, and explosives. There is a huge list of commodity chemicals that are usually traded, including Acetone, Butanediol, Benzene, Castor oil, Ethanol, Epoxy Resins, Glycerine, Melamine Propylene, Hexane, and many more.

Organic commodity chemicals are petroleum-derivative chemicals used as intermediates to produce other chemicals, which, in turn, are used to manufacture a wide variety of end-use products. There are countless types of commodity chemicals, each having their own specific uses, as well as a wide range of uses. Commodity chemicals are of two types, such as organic and inorganic. They find applications in dyes, plastics, fertilizers, pharmaceuticals, synthetic fibers, pigments, mining, and agricultural chemicals.

Moreover, Commodity Chemicals Market have direct or indirect application in a wide range of end-use industries from automotive to the personal care products industry and several manufacturing industries. Therefore, there is an increase in demand for commodity chemicals worldwide. For instance, the chemical industry in Singapore is one of the most rapidly growing industries. The value of exports of organic chemicals, a segment of commodity chemicals from Singapore was USD 12.8 billion in the year 2019.

China and Belgium are the major recipients of Singapore’s commodity chemicals at 23 and 19%, respectively.

 

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