Regional distribution of global chemical

The global distribution of chemicals is mainly divided into the following key regions:
North America: The North American market holds an important position in the chemical industry, especially in oilfield chemicals and oil and fat chemicals. The proportion of oilfield chemicals in the North American market is as high as 49.2%, and the oil and fat chemical market has also performed well in the region, mainly due to the research and development activities of major market participants and the launch of new products.
Asia Pacific region: The Asia Pacific region has performed well in the chemical industry, especially in basic chemicals and oilfield chemicals. In 2024, the market share of basic chemicals in the Asia Pacific region will reach 39%, becoming the largest market in the world. In terms of oilfield chemicals, the Asia Pacific market accounts for 27.5%, mainly driven by the growth in sales of oilfield chemicals in India. In addition, the oil and fat chemical market in the Asia Pacific region is expected to achieve the fastest compound annual growth rate, thanks to the development of raw material supply and new product applications in the region.
Europe: The European market maintains stable growth in the chemical industry, especially in the field of basic chemicals. In 2024, the proportion of basic chemicals in the European market will be 28%. The oil and fat chemicals in the European market have also maintained stable growth, mainly due to the increase in government and private sector initiatives in the region.
Latin America, the Middle East, and Africa: These two regions have relatively low proportions in the chemical market, but are also gradually growing. The market share in Latin America is 7%, while the market share in the Middle East and Africa is 4%.
Driving factors and market trends
Research and development activities and the launch of new products: The growth of the North American market is mainly due to the increased research and development activities and the launch of new products by market participants in the region, especially in the field of oleochemicals.
Raw material supply and new product applications: The rapid growth of the Asia Pacific market is attributed to the development of raw material supply and new product applications in the region, especially in the field of oil and fat chemicals.
Government and private sector initiatives: The stable growth of the European market is attributed to an increase in government and private sector initiatives in the region.
The increase in offshore oil and gas production activities: The growth of oilfield chemicals is influenced by the increase in offshore oil and gas production activities and the discovery of new oil reserves, especially in the North American and Asia Pacific markets.