According to the report published by Zion Market Research, global demand for Specialty Chemicals market was valued at approximately USD 630 Billion in 2019, and is expected to generate revenue of around USD 750 Billion by end of 2026, growing at a CAGR of around 3-4% between 2020 and 2026.
According to the report published by Zion Market Research, global demand for Specialty Chemicals market was valued at approximately USD 630 Billion in 2019, and is expected to generate revenue of around USD 750 Billion by end of 2026, growing at a CAGR of around 3-4% between 2020 and 2026.
Global Specialty Chemicals Market: Overview
Specialty chemicals are particular chemical products that help in providing variety of effects to various industries that they cater to such as textile, ink additives, construction, oil & gas, cosmetics, and food. Specialty chemicals can be single-chemical formulations or entities whose composition greatly influences the performance of the customers’ product. On the basis of their purpose and efficiency, certain chemicals are used. In this market, continuous R&D has facilitated the development of products with optimum and advanced characteristics. This is one of the major factors driving this market 's growth. Noticeable demand from Asian countries such as India and China has emerged with rapid industrialization. Investment in construction and infrastructure growth projects in the Asia-Pacific region has been growing.
Global Specialty Chemicals Market: Growth Factors
Some of the main growth opportunities are innovation and R&D, as the market is largely consumer-driven. The focus of the manufacturer on delivering creative and custom-made product offerings for target applications and satisfying the demand of specific customers has driven investment in research and development, thereby driving the development of innovative specialty chemicals and expanding the product portfolio of the industry. The need for user-friendly and environmentally-friendly specialty chemicals has been prompted by concerns about the adverse effects of traditional chemicals on the environment and humans. Therefore, the attention of many players has moved towards the production and marketing of specialty chemicals in order to outperform traditional manufacturers of fine and commodity chemicals.
Global Specialty Chemicals Market: Segmentation
The Specialty Chemicals market is fragmented based on application. By application, the market is divided into paints and coatings, catalysts, construction chemicals, cosmetic chemicals, dyes, inks, and pigments, electronic chemicals, water treatment chemicals, food additives, agrochemicals, industrial and institutional cleaners, lubricant additives, mining chemicals, oilfield chemicals, adhesives and sealants, plastic additives, rubber processing chemicals, specialty polymers, textile chemicals, others. The automotive industry is expected to remain a lucratively rising market with a strong demand for weight reduction and cost-saving end-use adhesives, lubricants, paints, and coatings. The product demand for end-use pharmaceuticals and nutraceuticals has been driven by the awareness and increasing acceptance of a healthier lifestyle among consumers.
Report Scope:
Report Attribute | Details |
---|---|
Base Year | 2020 |
Historic Years | 2016 - 2020 |
Forecast Years | 2021 - 2028 |
Segments Covered | By Product Type, By Application, and By End Use |
Forecast Units | Value (USD Billion), and Volume (Units) |
Quantitative Units | Revenue in USD million/billion and CAGR from 2021 to 2028 |
Regions Covered | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World |
Countries Covered | U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others |
Number of Companies Covered | 10 companies with scope for including additional 15 companies upon request |
Report Coverage | Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis. |
Customization Scope | Avail customized purchase options to meet your exact research needs. |
Region-wise, the global market is segregated into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Global Specialty Chemicals Market: Regional Analysis
The Asia-Pacific area dominated the market for specialty chemicals and is likely to maintain its place during the forecast period , owing to robust construction sector growth , increased demand for cosmetic products , increased investment and development in the increasing performance of the electrical and electronics industries, increased demand for packaging adhesives and plastics, and increased demand for packaging products.
Global Specialty Chemicals Market: Competitive Players
Some main participants of the Specialty Chemicals market are BASF SE, Dow Inc., Bayer AG, Evonik Industries AG, Lanxess AG, Solvay SA, Clariant AG, Huntsman International LLC, Albemarle Corporation, Nouryon, Sumitomo Chemical Company, Ashland LLC., Henkel Ag & Co. KGAA, Merck & Co. Inc., Sasol Limited, Koninklijke DSM N.V., PPG Industries Inc., 3M, H.B. Fuller, among others.
Specialty Chemicals Market: Regional Segment Analysis
List of Figures
FIG. 1 Research Methodology
FIG. 2 Research Methodology – Basic Overview
FIG. 3 Research Methodology – Detailed View
FIG. 4 Global Specialty ChemicalsMarketRevenue, 2016 - 2026 (USD Million)
FIG. 5 Porter’s Five Forces Analysis for Global Specialty Chemicals Market
FIG. 6 Global Specialty Chemicals Market Attractiveness, By Application
FIG. 7 Global Specialty Chemicals Market Attractiveness, By End-User
FIG. 8 Company Share Analysis, 2019
FIG. 9 Global Specialty Chemicals Market Revenue Share, by Application, 2019 & 2026
FIG. 10 Global Specialty Chemicals Market for Paints and Coatings, Revenue (USD Million) 2016 - 2026
FIG. 11 Global Specialty Chemicals Market for Catalysts, Revenue (USD Million) 2016 - 2026
FIG. 12 Global Specialty Chemicals Market for Construction Chemicals, Revenue (USD Million) 2016 - 2026
FIG. 13 Global Specialty Chemicals Market for Cosmetic Chemicals, Revenue (USD Million) 2016 - 2026
FIG. 14 Global Specialty Chemicals Market for Dyes, Inks, and Pigments, Revenue (USD Million) 2016 - 2026
FIG. 15 Global Specialty Chemicals Market for Electronic Chemicals, Revenue (USD Million) 2016 - 2026
FIG. 16 Global Specialty Chemicals Market for Water Treatment Chemicals, Revenue (USD Million) 2016 - 2026
FIG. 17 Global Specialty Chemicals Market for Food Additives, Revenue (USD Million) 2016 - 2026
FIG. 18 Global Specialty Chemicals Market for Agrochemicals, Revenue (USD Million) 2016 - 2026
FIG. 19 Global Specialty Chemicals Market for Industrial and Institutional Cleaners, Revenue (USD Million) 2016 - 2026
FIG. 20 Global Specialty Chemicals Market for Lubricant Additives, Revenue (USD Million) 2016 - 2026
FIG. 21 Global Specialty Chemicals Market for Mining Chemicals, Revenue (USD Million) 2016 - 2026
FIG. 22 Global Specialty Chemicals Market for Oilfield Chemicals, Revenue (USD Million) 2016 - 2026
FIG. 23 Global Specialty Chemicals Market for Adhesives and Sealants, Revenue (USD Million) 2016 - 2026
FIG. 24 Global Specialty Chemicals Market for Plastic Additives, Revenue (USD Million) 2016 - 2026
FIG. 25 Global Specialty Chemicals Market for Rubber Processing Chemicals, Revenue (USD Million) 2016 - 2026
FIG. 26 Global Specialty Chemicals Market for Specialty Polymers, Revenue (USD Million) 2016 - 2026
FIG. 27 Global Specialty Chemicals Market for Textile Chemicals, Revenue (USD Million) 2016 - 2026
FIG. 28 Global Specialty Chemicals Market for Others, Revenue (USD Million) 2016 - 2026
FIG. 29 Global Specialty Chemicals Market Revenue Share, by Region, 2019 & 2026
FIG. 30 North AmericaSpecialty Chemicals Market Revenue, 2016 - 2026 (USD Million)
FIG. 31 EuropeSpecialty Chemicals Market Revenue, 2016 - 2026 (USD Million)
FIG. 32 Asia PacificSpecialty Chemicals Market Revenue, 2016 - 2026 (USD Million)
FIG. 33 Latin AmericaSpecialty Chemicals Market Revenue, 2016 - 2026 (USD Million)
FIG. 34 The Middle-East and AfricaSpecialty Chemicals Market Revenue, 2016 - 2026 (USD Million)
FIG. 35 BASF SEBusiness Segment Revenue Share, 2018 (%)
FIG. 36 BASF SEGeographical Segment Revenue Share, 2018 (%)
List of Tables
TABLE 1 Global Specialty ChemicalsMarket: Snapshot
TABLE 2 Drivers of the Specialty ChemicalsMarket: Impact Analysis
TABLE 3 Restraints for the Specialty ChemicalsMarket: Impact Analysis
TABLE 4 GlobalSpecialty ChemicalsMarket Revenue, by Region, 2016 – 2026 (USD Million)
TABLE 5 North AmericaSpecialty ChemicalsMarket Revenue, by Country, 2016 – 2026 (USD Million)
TABLE 6 North AmericaSpecialty Chemicals Market Revenue, by Application, 2016 – 2026 (USD Million)
TABLE 7 EuropeSpecialty ChemicalsMarket Revenue, by Country, 2016 – 2026 (USD Million)
TABLE 8 EuropeSpecialty Chemicals Market Revenue, by Application, 2016 – 2026 (USD Million)
TABLE 9 Asia PacificSpecialty ChemicalsMarket Revenue, by Country, 2016 – 2026 (USD Million)
TABLE 10 Asia PacificSpecialty Chemicals Market Revenue, by Application, 2016 – 2026 (USD Million)
TABLE 11 Latin AmericaSpecialty ChemicalsMarket Revenue, by Country, 2016 – 2026 (USD Million)
TABLE 12 Latin AmericaSpecialty Chemicals Market Revenue, by Application, 2016 – 2026 (USD Million)
TABLE 13 The Middle-East and AfricaSpecialty ChemicalsMarket Revenue, by Country, 2016 – 2026 (USD Million)
TABLE 14 The Middle-East and AfricaSpecialty Chemicals Market Revenue, by Application, 2016 – 2026 (USD Million)
The key factors driving the growth of the specialty chemical industry are improving living standards in most developing countries , trade liberalisation, increasing demand for electronics and advances in process technology. In addition , the increase in urbanisation and industrialization in countries such as China , India and Japan is driving the demand for paints and coatings, which further boosts the demand for building chemicals, which in turn drives the need for specialty chemicals throughout the forecast period.
According to Zion Market Research, global demand for Specialty Chemicals market is expected to generate revenue of around USD 630 Billion by end of 2019 and around 750 Billion in 2026, growing at a CAGR of around 3-5% between 2020 and 2026.
In North America, the demand for poly aluminium chloride is well established, with various water treatment operations being carried out on a large scale here. The demand for poly aluminium chloride is in its growth process in the Asia Pacific region, and is expected to see a steady growth in the area over the next few years.
Some main participants of the Specialty Chemicals market are BASF SE, Dow Inc., Bayer AG, Evonik Industries AG, Lanxess AG, Solvay SA, Clariant AG, Huntsman International LLC, Albemarle Corporation, Nouryon, Sumitomo Chemical Company, Ashland LLC., Henkel Ag & Co. KGAA, Merck & Co. Inc., Sasol Limited, Koninklijke DSM N.V., PPG Industries Inc., 3M, H.B. Fuller, among others.
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