Global chemical products play a significant role in the global economy, contributing to various sectors and activities. Here's how they impact the global economy:

1. Economic Contribution: The global chemical industry contributes an estimated $5.7 trillion to the world Gross Domestic Product (GDP), which is equivalent to seven percent of the world's GDP, and supports 120 million jobs worldwide。Directly, the global chemical industry adds $1.1 trillion to world GDP and employs 15 million people, making it the fifth-largest global manufacturing sector。

2. Supply Chain Impact: For every $1 USD generated by the global chemical industry, an additional $4.20 USD is generated elsewhere in the global economy。The industry's spending with suppliers, estimated at $3 trillion USD in 2017, contributed an estimated $2.6 trillion USD to global GDP and supported 60 million jobs。

3. Innovation and Technology: The global chemical industry invests heavily in research and development (R&D), with an estimated $51 billion USD investment supporting 1.7 million jobs and $92 billion USD in economic activity。These investments drive innovation, which is crucial for technological advancements and improving the quality of life.

4. Regional Economic Impact: The global chemical industry is a significant contributor to regional economies around the world. The Asia-Pacific region leads with 45 percent of the industry's total annual economic value and 69 percent of all jobs supported. Europe and North America also make substantial contributions。

5. Sustainability and Environmental Goals: The global chemical industry is integral to achieving the United Nation's Sustainable Development Goals (SDGs). Innovations from the global chemical industry support clean water, renewable energy sources, advanced medical care, stable and nutritious food supplies, and recycling technologies。

6. Specialty global chemicals Market Growth: The global specialty global chemicals market is expected to grow at a compound annual growth rate of 5.2% from 2024 to 2030, reaching USD 914.4 billion by 2030。This growth is driven by consumer preferences for tailored products and significant investments in technological advancements and product innovations.

7. Job Creation: The global chemical industry is an important source of skilled employment, supporting substantial activity and jobs in the wider global economy due to the money spent on materials and services used in global chemical production processes。

8. Circular Economy and Sustainability Initiatives: The industry is focusing on circular economy principles, such as battery recycling and bio-based feedstocks, to reduce waste and improve sustainability。

9. Digitalization and Transparency: Companies in the global chemical industry are using data and digitalization to improve brand transparency and trust, which are crucial for differentiating their products and brands in the market。

Global chemical products are essential to nearly every good-producing sector, making the global chemical industry a pervasive and vital part of the global economic landscape.