Specialty Materials Market Report 2026

The specialty materials market size has grown strongly in recent years. It will grow from $260.04 billion in 2025 to $283.03 billion in 2026 at a compound annual growth rate (CAGR) of 8.8%. The growth in the historic period can be attributed to expansion of industrial manufacturing applications, increasing demand for lightweight materials, growth in construction and infrastructure projects, adoption of advanced polymers and composites, rising focus on material performance optimization.

The specialty materials market size is expected to see strong growth in the next few years. It will grow to $391.44 billion in 2030 at a compound annual growth rate (CAGR) of 8.4%. The growth in the forecast period can be attributed to increasing adoption of sustainable material solutions, rising investments in advanced material R&D, growing demand from electric mobility applications, expansion of high-performance material use in aerospace and electronics, increasing regulatory focus on recyclable materials. Major trends in the forecast period include increasing adoption of advanced composite materials, rising use of lightweight specialty alloys, growing demand for high-performance sustainable materials, expansion of nanomaterial applications, enhanced focus on material customization for end-use performance.

The rising demand in construction activities is expected to drive the growth of the specialty materials market in the coming years. Construction activities encompass the tasks and operations involved in building, renovating, or developing structures such as buildings, infrastructure, and facilities. Specialty materials are applied in construction to enhance insulation, reduce energy consumption, and regulate temperature by minimizing heat transfer through the use of aerogels and advanced foams. For example, in May 2023, the United States Census Bureau, a U.S.-based government agency, reported that construction spending increased from $1.76 trillion in March 2022 to $1.83 trillion in March 2023, reflecting a 3.8% growth. Consequently, the increasing demand for construction activities is supporting the expansion of the specialty materials market.

Major players in the specialty materials market are strategically embracing sustainability by introducing animal-free biomaterials to secure their positions in the industry. Sustainable, animal-free biomaterials represent eco-friendly alternatives derived from renewable resources, avoiding the use of animal products or by-products. In a significant development in May 2023, Modern Meadow, a US-based biotechnology company, unveiled Bio-VERA. This specialty material is a novel, sustainable, and animal-free biomaterial aimed at reducing reliance on traditional animal-based sources. Bio-VERA is crafted to emulate the look, feel, and natural aging of traditional leather, suede, or chamois, offering a high-quality, consistent, and versatile alternative. Leveraging Bio-Alloy technology in its application platform, made with cultured biomaterial, Bio-VERA finds applications in transportation, footwear, interior design, and wall coverings sectors, providing ethical and eco-conscious alternatives to conventional materials.

In June 2024, Kymera International, a US-based specialty materials company, acquired Fiven ASA for an undisclosed sum. This acquisition allows Kymera to enhance its specialty materials portfolio, especially in advanced silicon carbide, which is essential for high-performance applications in the electronics and energy sectors. This strategic move underscores Kymera's commitment to strengthening its capabilities in critical materials, positioning the company for a more significant impact in these industries. Fiven ASA is a manufacturer of specialty materials based in Norway.

Major companies operating in the specialty materials market are IKEA, Nike Inc., Bridgestone, The Michelin Group, International Paper Company, Adidas AG, The Goodyear Tire & Rubber Company, Georgia-Pacific Corporation, Kimberly Clark Corporation, Everlight Chemical Industrial Corporation, Evonetix Ltd., Citrine Informatics, Johnson Matthey, Re-Vana Therapeutics, Debut Technology, EyePoint Pharmaceuticals, Applied Graphene Materials, Croda International Plc, PPG Industries, Wacker Chemie AG, Solvay, Evonik Industries AG, Clariant AG, Akzo Nobel N V, Albemarle Corporation.

Europe was the largest region in the specialty materials market in 2025. The regions covered in the specialty materials market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the specialty materials market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The special materials market consists of sales of solid waste, hazardous wastes, chemicals and paint, automobile hulks, large appliances, furniture and other items. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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