The AI in chemicals market is expected to reach USD 9,725.61 million by 2032, growing at a compound annual growth rate (CAGR) of 39.1% from 2024 to 2032. This significant growth is driven by the increasing adoption of artificial intelligence in the chemical industry, which is transforming traditional manufacturing processes and operational strategies.
The market growth is attributed to the improved research and development enabled by AI, which enhances the simulation of chemical reactions, prediction of outcomes, and analysis of complex datasets. Additionally, AI-driven predictive maintenance minimizes downtime, extends equipment lifespan, and reduces maintenance costs. Government support through increased spending on research and development in manufacturing process optimization is also driving growth in the AI in chemicals market.
The software segment dominated the market in 2023, driven by its critical role in enabling AI-driven innovations across various processes in the industry. North America held the largest share in the global market in 2023, driven by increased awareness of digitization and strong funding for research and development. The Asia Pacific market is projected to register a significant CAGR during the forecast period, driven by rapid AI adoption in the chemical sector.
