Over the period from 2013 to 2023, the turnover of raw chemical materials and related products in China showed a consistent upward trend. The turnover in 2023 stood at 511 billion Yuan Renminbi, marking a considerable increase from 2013's value of 327 billion. Notable year-on-year variations include a high of 9.1% in 2014, a slump to -1.18% in 2019, followed by recovery to 7.11% in 2022 and a more moderate 3.43% in 2023. From 2018 to 2023, the CAGR was 3.05%, indicating steady growth.
Future trends from 2024 to 2028 forecast an average annual growth rate of 2.37%, leading to a projected turnover of 593 billion Yuan Renminbi by 2028. Major factors likely to influence these trends include technological advancements, environmental regulations, and market demand fluctuations.
