The global specialty chemicals market size reached US$ 754.6 Billion in 2023. Looking forward, the market is projected to reach US$ 1.02 trillion by 2032, exhibiting a growth rate (CAGR) of 3.51% during 2023-2032.
These chemicals are also known as specialties or effect chemicals and are widely utilized as ingredients in finished products to improve the manufacturing process. These chemicals can be single-chemical entities or formulations producing high-value chemicals, which are used in products vital to consumers. As compared to commodity chemicals, specialty chemicals are produced in lesser volumes. Consequently, they find applications in a wide range of industry verticals, such as chemicals, agriculture, automotive, aerospace, pharmaceutical, and food and beverage (F&B).
The escalating demand for high-performance and function-specific chemicals across different end use industries, such as oil and gas, pulp and paper, personal care and cosmetics, represents one of the significant factors propelling the growth of the specialty chemicals market. Apart from this, the rising concerns about the harmful effects of conventional chemicals on the environment have led to an increase in the demand for user- and environment-friendly specialty chemicals. As a result, leading players are focusing on the development and marketing of specialty chemicals in these variants to expand their product portfolio and improve their overall sales. These players are also investing in research and development (R&D) activities to provide innovative and custom-made specialty chemicals for target applications.
2. What is the expected growth rate of the global specialty chemicals market during 2024-2032?
3. What are the key factors driving the global specialty chemicals market?
4. What has been the impact of COVID-19 on the global specialty chemicals market?
5. What is the breakup of the global specialty chemicals market based on the type?
6. What are the key regions in the global specialty chemicals market?
7. Who are the key players/companies in the global specialty chemicals market?
These chemicals are also known as specialties or effect chemicals and are widely utilized as ingredients in finished products to improve the manufacturing process. These chemicals can be single-chemical entities or formulations producing high-value chemicals, which are used in products vital to consumers. As compared to commodity chemicals, specialty chemicals are produced in lesser volumes. Consequently, they find applications in a wide range of industry verticals, such as chemicals, agriculture, automotive, aerospace, pharmaceutical, and food and beverage (F&B).
The escalating demand for high-performance and function-specific chemicals across different end use industries, such as oil and gas, pulp and paper, personal care and cosmetics, represents one of the significant factors propelling the growth of the specialty chemicals market. Apart from this, the rising concerns about the harmful effects of conventional chemicals on the environment have led to an increase in the demand for user- and environment-friendly specialty chemicals. As a result, leading players are focusing on the development and marketing of specialty chemicals in these variants to expand their product portfolio and improve their overall sales. These players are also investing in research and development (R&D) activities to provide innovative and custom-made specialty chemicals for target applications.
Key Market Segmentation
This report provides an analysis of the key trends in each sub-segment of the global specialty chemicals market report, along with forecasts at the global, regional and country level from 2024-2032. The report has categorized the market based on type.Breakup by Type:
- Agrochemicals
- Polymer Additives
- Construction Chemicals
- Water Treatment Chemicals
- Oil Field Chemicals
- Food Additives
- Surfactants
- Electronic Chemicals
- Specialty Polymers
- Others
Breakup by Region:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Competitive Landscape
The competitive landscape of the industry has also been examined along with the profiles of the key players being Akzo Nobel N.V., Albemarle Corporation, Ashland Global Holdings Inc., BASF SE, Bayer AG, Clariant AG, Evonik Industries AG (RAG-Stiftung), Huntsman Corporation, Solvay S.A. and The Dow Chemical Company.Key Questions Answered in This Report
1. How big is the global specialty chemicals market?2. What is the expected growth rate of the global specialty chemicals market during 2024-2032?
3. What are the key factors driving the global specialty chemicals market?
4. What has been the impact of COVID-19 on the global specialty chemicals market?
5. What is the breakup of the global specialty chemicals market based on the type?
6. What are the key regions in the global specialty chemicals market?
7. Who are the key players/companies in the global specialty chemicals market?
Table of Contents
1 Preface3 Executive Summary9 Value Chain Analysis11 Price Analysis
2 Scope and Methodology
4 Introduction
5 Global Specialty Chemicals Market
6 Market Breakup by Type
7 Market Breakup by Region
8 SWOT Analysis
10 Porters Five Forces Analysis
12 Competitive Landscape
List of Figures
List of Tables
Companies Mentioned
- Akzo Nobel N.V.
- Albemarle Corporation
- Ashland Global Holdings Inc.
- BASF SE
- Bayer AG
- Clariant AG
- Evonik Industries AG (RAG-Stiftung)
- Huntsman Corporation
- Solvay S.A.
- The Dow Chemical Company
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 137 |
| Published | April 2024 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value ( USD | $ 754.6 Billion |
| Forecasted Market Value ( USD | $ 1020 Billion |
| Compound Annual Growth Rate | 3.5% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
