Asia continues to dominate the global chemical industry, holding a 59.6 percent market share in 2023. This represents a significant increase from 45 percent in 2010, highlighting the region's growing influence in the sector. Meanwhile, North America's share has declined from 20.9 percent to 13.4 percent over the same period, reflecting a shift in the industry's center of gravity. Global industry growth and revenue The global revenue of the chemical industry has experienced significant growth in recent years. In 2023, the chemical-pharmaceutical sector generated approximately 7.1 trillion euros in global revenue. This aligns with reports showing that the total worldwide revenue of the chemical industry, excluding pharmaceuticals, reached 5.72 trillion U.S. dollars in 2022, the highest value in 15 years. Factors contributing to this growth include increasing demand for healthcare products, technological advancements, and expanding markets worldwide. Regional performance and market leaders While Asia dominates the global market, other regions also contribute significantly to the industry's revenue. In 2023, Latin America's chemical industry generated approximately 237.47 billion euros, with Brazil accounting for over one-third of the regional market. In Europe, Germany led the chemical industry with a revenue of 225.5 billion euros, followed by France at 108.5 billion euros. Nevertheless, China remains the largest single-country market, generating nearly 2.4 trillion euros in 2022, which represented about 44 percent of the global revenue.