In 2023, China dominated global chemical R&D expenditures with a significant lead, investing far more than other countries. The United States and Germany followed, albeit at a much lower level. Noteworthy annual increases occurred in Slovakia, Estonia, and Lithuania, indicating emerging growth markets. In contrast, Canada and Romania saw declines, with Romania experiencing the sharpest downturn. Over the last five years, the sector experienced varied growth, with some smaller economies showing higher compounded growth rates compared to established players.
Future trends to watch include China's continued investment leadership, potential increases in European R&D expenditures due to sustainability initiatives, and increased innovation in emerging markets. Monitoring geopolitical shifts and technological advancements will be essential in predicting future allocations and industry shifts.
Top countries in Business Enterprise R&D Expenditure in Manufacture of Chemicals and Chemical Products by Country
| # | 10 Countries | Million US Dollars PPP | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 China | 25,840 | 2023 | +4.31% | +1.54% | View data |
| 2 | 2 United States | 9,520 | 2023 | +0.18% | -0.057% | View data |
| 3 | 3 Germany | 6,560 | 2023 | +2.71% | +2.85% | View data |
| 4 | 4 South Korea | 4,850 | 2023 | +3.8% | +3.1% | View data |
| 5 | 5 Taiwan | 1,080 | 2023 | +3.31% | +4.35% | View data |
| 6 | 6 Italy | 843.05 | 2023 | +3.23% | +2.18% | View data |
| 7 | 7 United Kingdom | 590.61 | 2023 | +1.19% | +0.98% | View data |
| 8 | 8 Spain | 553.78 | 2023 | +2.13% | +4.33% | View data |
| 9 | 9 Poland | 365.64 | 2023 | +17.4% | +4.49% | View data |
| 10 | 10 Canada | 282.87 | 2023 | +1.19% | -1.33% | View data |
