Market Size of Laboratory Chemicals Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 27.68 Billion |
| Market Size (2029) | USD 34.17 Billion |
| CAGR (2024 - 2029) | 4.30 % |
| Fastest Growing Market | Europe |
| Largest Market | Europe |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Laboratory Chemicals Market Analysis
The Laboratory Chemicals Market size is estimated at USD 27.68 billion in 2024, and is expected to reach USD 34.17 billion by 2029, growing at a CAGR of 4.30% during the forecast period (2024-2029).
The COVID-19 outbreak negatively impacted the market in 2020. However, the market has since reached pre-pandemic levels and is expected to grow steadily during the forecast period.
- The laboratory chemicals market is driven by growing R&D activities in the field of biological and chemical sciences and increasing usage in wastewater treatment.
- However, the availability of substitutes for laboratory chemicals is likely to hinder the market's growth.
- Advancements in technologies, such as cell culture, recombinant DNA, and biotherapeutics, and the development of nanomaterials are projected to act as an opportunity for the market in the future.
- Due to increasing research and development activities, Europe region is expected to dominate the market.
