In 2023, China's dominance in global R&D expenditures in the chemical manufacturing sector is noteworthy, with significant spending compared to other countries. The United States and Germany follow, but with negative and minimal positive growth, respectively. South Korea and Taiwan exhibit solid growth, indicating potential rising influence. While Canada's R&D expenditure is declining, small economies like Estonia and Slovakia are experiencing remarkable growth rates, suggesting emerging contributions to the global landscape.
Future trends to watch include China's continued leadership and potential expansion in R&D investments. Innovational outputs from Germany and South Korea could increase their global influence. The rise of emerging economies may introduce competition, leading to a more diverse global market.
Top countries in Business Enterprise R&D Expenditure in Manufacture of Chemicals and Chemical Products Share by Country (Million US Dollars PPP)
| # | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 China | 50.61 | 2023 | +4.31% | +1.54% | View data |
| 2 | 2 United States | 18.64 | 2023 | +0.18% | -0.057% | View data |
| 3 | 3 Germany | 12.85 | 2023 | +2.71% | +2.85% | View data |
| 4 | 4 South Korea | 9.5 | 2023 | +3.8% | +3.1% | View data |
| 5 | 5 Taiwan | 2.11 | 2023 | +3.31% | +4.35% | View data |
| 6 | 6 Italy | 1.65 | 2023 | +3.23% | +2.18% | View data |
| 7 | 7 United Kingdom | 1.16 | 2023 | +1.19% | +0.98% | View data |
| 8 | 8 Spain | 1.08 | 2023 | +2.13% | +4.33% | View data |
| 9 | 9 Poland | 0.72 | 2023 | +17.4% | +4.49% | View data |
| 10 | 10 Canada | 0.55 | 2023 | +1.19% | -1.33% | View data |
