Bulk chemicals, also referred to as commodity chemicals, are manufactured on a large scale to cater to the global demand for intermediates and feedstock for downstream and specialtychemicals. The bulk chemical market is characterized as a perfect competition structure. It consists of a large number of buyers and sellers,wherethe price is the primary market driver. Traditionally, the U.S. and Europe were the global hubs for the chemical industry until 2007. Since the last decade, the industry has been observinga shift from the west to Asia, with China as the primary contributor.