Chemicals sector 2022 outlook
After a sluggish year in 2020 on a global scale, the chemicals sector has shown good dynamism in 2021 with a rebound of +7% y/y in volume terms, and an outstanding growth of +29% y/y in value terms, reaching US$5,480bn. This performance was partly due to base effects (i.e. -5% drop in value terms registered in 2020) but also the result of sustained demand from key end-use sectors such as manufacturing, housing and farming. The war in Ukraine emerged and expectations for 2022 have been subsequently lowered to a +2.5% growth in volume.