In 2023, China led global R&D expenditure in the manufacture of chemicals and chemical products, outspending Japan and the U.S. China's year-on-year growth was modest at 0.39%, while Japan saw a significant increase of 3.74%. In contrast, the U.S. experienced a decline of 1.79%. South Korea and Poland demonstrated strong performances with growth rates of 3.39% and 3.4%, respectively. Estonia had the most significant uptick at 81.11%. The five-year CAGR highlights robust growth for countries like Lithuania.
Future trends to watch include the potential for increased investments in emerging markets, driven by innovations in green chemistry and sustainable manufacturing practices. Additionally, technological advancements in AI and automation may further shift investment patterns globally.
Top countries in Business Enterprise R&D Expenditure in Manufacture of Chemicals and Chemical Products Share by Country (Million US Dollars PPP = 2015)
| # | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 China | 43.64 | 2023 | +2.35% | +0.39% | View data |
| 2 | 2 Japan | 17.33 | 2023 | +2.45% | +3.74% | View data |
| 3 | 3 United States | 15.21 | 2023 | -1.5% | -1.79% | View data |
| 4 | 4 Germany | 9.55 | 2023 | +0.97% | +0.76% | View data |
| 5 | 5 South Korea | 8.38 | 2023 | +3.78% | +3.39% | View data |
| 6 | 6 Taiwan | 1.78 | 2023 | +2.69% | +2.68% | View data |
| 7 | 7 Italy | 1.21 | 2023 | +1.64% | -0.13% | View data |
| 8 | 8 Spain | 0.86 | 2023 | +1.63% | +2.93% | View data |
| 9 | 9 Poland | 0.6 | 2023 | +17.07% | +3.4% | View data |
| 10 | 10 Canada | 0.44 | 2023 | -0.088% | -2.65% | View data |
