US chemical industry is expected to see a CAGR of 2.0% during the period (2019-2025). The US region is dominated by the improving business investment combined with strong consumer spending aided GDP growth. Owing to the chemical industry being a source of strength as its customer industries and emerging markets improve; the effects of enhanced feedstock competitiveness bolster the growth. Despite, the manufacturing sector declined due to the trade war, there has been an increase in the chemical industry. This is due to the low-cost energy and feedstocks that assisted in supporting the chemical industry growth before the coronavirus pandemic.

US chemical industry is segmented into petrochemicals, basic inorganic, polymers, specialty chemicals, consumer chemicals, and others. Based on the segmentation, the petrochemical industry is expected to see a considerable downfall in 2020, due to the COVID-19 pandemic. On the other hand, the consumer chemical industry is least impacted with the substantial demand for soap and detergents even during the pandemic. Therefore, the consumer chemical industry is expected to see a least impact, with a downfall of around 1.5% in 2020, due to the outbreak. Consumer chemical essentially includes cosmetics, vitamins, and health supplements, soaps, detergents, and household chemicals, perfumes, and flavors. The demand for consumer chemicals has increased significantly during the COVID-19 pandemic and to ensure the proper supply of the products related to consumer chemical government is taking essential steps.

Some of the companies operating in the US chemical market and get prominently affected with this outbreak include DuPont De Nemours, Inc., Eastman Chemical Co., ExxonMobil Chemical Co., Inc., The Dow Chemical Co., and Chevron Phillips Chemical Company LLC. The companies are shifting to contribute and increase in the production of the hand sanitizers and a surface disinfectant, as various active substances such as alcohol is short in supply. During this COVID-19 pandemic, DuPont De Nemours, Inc. is focused on delivering a solution that can help with the prevention and control of this pandemic. The company will not have a huge impact on its business and is expected to even show positive impact as the company is engaged in the supply of hygiene and medical products and technologies such as disinfectants, sanitizers, cleaners, plastics used in the production of disposable personal protective equipment for medical professionals, memory foams for hospital beds, and more. Further, in April 2020, the company partnered with Cummin to supply material for the N95 respiratory mask to address the shortage of N95 respirator masks in the US.   

Research Methodology

OMR global recently published a report addressing the impact of COVID-19 on the US chemical industry. The study is incorporated by extensive primary and secondary research conducted by the research team. Secondary research has been conducted to refine the available data. Different approaches have been worked on to derive the market value and market growth rate. In the report, the analysis of the country is provided by analyzing various regional players, laws and policies, consumer behavior and macro-economic factors. The report includes analysis of different regions and countries and the effect of COVID-19 on chemical industry of each respective region. Besides, an expected recovery timeline of the industry will also be included with the best- and worst-case scenario which will aid clients to take their future steps in the decision-making process.

Sources Include

• Financial reports of companies involved in the market
• Whitepapers, research-papers, and news blogs
• Company websites and their product catalog
• Government Organizations Reports

The report provides an in-depth analysis on market size, intended quality of the service preferred by consumers. The report will serve as a source for 360-degree analysis of the market thoroughly integrating different models.

The Report Covers

• Comprehensive research methodology of US chemical industry.
• This report also includes a detailed and extensive market overview with key analyst insights.
• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting US chemical industry.
• Insights about market determinants which are stimulating US chemical industry.
• Detailed and extensive market segments with regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.