Chemical Wholesale

Operators in the Chemical Wholesaling industry buy chemicals from manufacturers and redistribute them as raw materials to a diverse base of downstream users. The construction and manufacturing sectors are key customers for chemical wholesalers and, as a result, their production levels largely determine demand for industry products. Socio-and macroeconomic disruptions stemming from the COVID-19 (coronavirus) negatively affected demand from many of the industry's downstream markets; however, the vast scope and diversity of the industry has shielded it from more significant declines. Improving economic conditions postpandemic has renewed demand across the industry's downstream markets, enabling an industry recovery as heightened consumer spending spurred manufacturing and industrial production activity. Overall, industry revenue is anticipated to rise at an annualized rate of 2.7% to $255.2 billion over the five years to 2022, including an expected increase of 6.8% by year-end 2022.