The U.S. chemical industry contributes more than 25% to the nation’s GDP and is crucial for the country’s overall manufacturing activities. Global supply chain disruptions have driven rising prices for basic chemicals. However, despite lingering logistic hurdles, U.S. chemical production has increased 5.2% year-over-year.
Demand for chemicals has increased significantly over the past few months amid the resumption of manufacturing activities. According to KingPin Market Research, the global chemicals market size is projected to grow at a 2.2% CAGR from 2021 to 2026.
