The chemical industry is central to the modern world economy, converting raw materials (oil, natural gas, air, water, metals and minerals) into more than 70,000 different products. The traditional dominance of chemical production by the Triad countries has been challenged over the recent few years by countries such as China, India, Korea, the Middle East, South East Asia, Nigeria, and Brazil. Chemicals are used to make a wide variety of consumer goods such as soaps and cosmetics, as well as a range of industrial goods used across sectors like rubber and plastic products, textiles, apparel, petroleum refining, pulp and paper, and primary metals.

Chemicals can roughly be divided into 3 main categories, basic chemicals, life sciences and specialty chemicals. Basic chemicals contribute 35% of dollar output of the industry and are a broad category, including polymers, bulk petrochemicals and intermediates and fertilizers. Polymers include all categories of plastics and man-made fibers. The major markets for plastics are packaging, followed by home construction, containers, appliances, pipe, transportation and games. Meanwhile, the leading man-made fibers include polyester, nylon, polypropylene, and acrylics. Life sciences contribute 30% of dollar output and include differentiated chemical and biological substances, pharmaceuticals, diagnostics, animal health products, vitamins, and crop protection chemicals.

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