The Russia-Ukraine conflict and extended COVID-19 lockdowns in China have intensified the supply chain disruption and led to surging raw materials prices. Moreover, the rising demand for basic materials for speeding up manufacturing and industrial activities has benefited the basic materials industry.
Moreover, the passage of the bipartisan infrastructure bill should significantly benefit this industry in the long run. The basic chemicals market, part of the broader materials market, is expected to grow at a 4.1% CAGR to reach $943 billion by 2030.
