JAKARTA, Indonesia – Market research firm Frost & Sullivan predicts that the global chemicals market will grow at a CAGR of 4.6 percent from 2012-2015 with Asia as the fastest growing region in the world. Chemicals sales are expected to grow at a CAGR of approximately 7 percent from 2012-2015. The growth in the Asia chemicals market has largely been driven by China, which will surpass the United States as the largest chemicals producer.
"While the global growth slowed down in 2012, Asia's share of the chemical pie has increased to 52 percent of the global chemical market in 2012 from 32.8 percent in 2001," noted Amit Bajpayee, Consulting Director, Chemicals, Materials & Food, Asia Pacific, for Frost & Sullivan.