The global chemical industry recorded a 4.2% increase in total output value in 2024, reaching an estimated USD 5.8 trillion, according to the latest report from the International Chemical Industry Association (ICCA).

Asia-Pacific continued to dominate, contributing over 60% of the incremental growth. China, India and South Korea each posted record production volumes in specialty chemicals and fine chemicals. The agrochemical segment grew by 6.1%, fueled by rising demand for crop protection inputs amid global food security concerns.

High-performance polymers and electronic chemicals also saw strong upticks, reflecting expanded semiconductor manufacturing investment across Taiwan, Japan and the United States.

Looking ahead, industry analysts forecast continued growth of 3–5% annually through 2027, underpinned by the energy transition, pharmaceutical demand and infrastructure investment across emerging markets.