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With diverse uses for chemicals—ranging from assisting in the preservation and flavoring of foods to the production of soaps and increasing chemical usage in the automotive and construction industries—the industry is expected to grow substantially in the coming months. U.S. chemical volumes are expected to grow 3.2%. And capital spending in the chemistry industry is expected to rise by 3.1% in 2022.
Given this backdrop, we think it could be wise to bet on fundamentally strong chemical stocks LyondellBasell Industries N.V. (NYSE:LYB), Westlake Chemical Corporation (WLK), Huntsman Corporation (HUN), and The Chemours Company (NYSE:CC).
