Increase in use of inorganic chemicals in fertilizer manufacturing and surge in use of inorganic chemicals in the pharmaceuticals and building & construction sector have boosted the growth of the Indonesia basic chemicals market. The energy segment is projected to manifest the highest CAGR of 8.6% during the forecast period. The pandemic negatively affected the GDP in global economies and changed consumer spending patterns across the globe.

Portland, OR, July 20, 2021 (GLOBE NEWSWIRE) -- As per the report published by Allied Market Research, the Indonesia basic chemicals market was pegged at $17.6 billion in 2020, and is expected to reach $35.1 billion by 2030, growing at CAGR of 7.2% from 2021 to 2030.

Increase in use of inorganic chemicals in fertilizer manufacturing and surge in use of inorganic chemicals in the pharmaceuticals and building & construction sector have boosted the growth of the Indonesia basic chemicals market. However, health-related risks associated with inorganic and organic petrochemicals and oleochemicals hinder the market growth. On the contrary, rise in number of new chemicals is expected to open lucrative opportunities for the market players in the future.

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Covid-19 scenario:

• The pandemic negatively affected the GDP in global economies and changed consumer spending patterns across the globe.
• The plastic industry faced several challenges due to the Covid-19 pandemic due to closure of manufacturing sites and travel restrictions. Moreover, the prolonged lockdown resulted in disruption in the supply chain.
• The real estate sector affected severely due to closure of supply chain and lack of raw materials availability, and restrictions laid by governments to prevent spread of infection.  

The report segments the Indonesia basis chemicals market on the basis of type, application, and sales channel.

Based on type, the organic petrochemicals segment held the largest share in 2020, accounting for more than half of the market. Moreover, the segment is estimated to register the highest CAGR of 7.8% during the forecast period.

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On the basis of application, the building & construction segment dominated the market in 2020, contributing to around one-third of the market. However, the energy segment is projected to manifest the highest CAGR of 8.6% during the forecast period.

Based on sales channel, the B2B segment held the largest share in 2020, accounting for more than four-fifths of the market. In addition, the segment is anticipated to register the highest CAGR of 7.4% during the forecast period.

The Indonesia basis chemicals market includes an in-depth analysis of the prime market players such as PT Asahimas Chemical, PT Mega Chemical Pratama, PT Dow Inonesia, Chandra Asri Petrochemical (CAP), BASF SE, PT. Lautan Luas Tbk, PT. Indonesia Acids Industry, Solvay, PT. Sumitomo Indonesia, and PT. Polychem Indonesia Tbk.

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