The global specialty chemicals market was valued at $711.0 billion in 2019, and is projected to reach $953.9 billion by 2027, growing at a CAGR of 5.0% from 2020 to 2027.
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, among others. Specialty chemicals can be single-chemical formulations or entities whose composition greatly influences the performance of the customers’ product. These chemicals are used on the basis of their function and performance. Continuous R&D in this market has facilitated development of products with optimum and advanced features. This is one of the major factors that drives the growth of this market. With rapid industrialization, noticeable demand from Asian countries such as India and China have arisen. There has been rise in investments in construction and infrastructure development projects in Asia-Pacific. Therefore, Asia-Pacific is considered as a favorable destination for the specialty chemical manufacturers; thereby, boosting the market growth. Whereas, variations in raw material cost and stringent regulations by the government are estimated to hamper the growth of the global specialty chemicals market.
Specialty chemicals, being a knowledge-driven industry has witnessed an increase in R&D activities. Increase in competition in the end-user markets has led to product innovation. The market players have heavily invested in R&D activities to introduce and develop new products with more advanced and new features. This industry has strived to reduce its dependency on petrochemicals and has focused on bio-based or renewable materials. For instance, in 2015, Ashland Inc. (U.S.) launched a new product “Culminal Plus Cementitious” adhesive for the construction industry in the European market.
The global specialty chemicals market is segmented on the basis of type and region. Depending on type, the specialty chemicals market is divided into agrochemicals, flavor ingredients, fragrances ingredients, dyes & pigments, personal care active ingredients, water treatment chemicals, construction chemicals, surfactants, textile chemicals, bio-based chemicals, polymer additives, oil field chemicals, paper & pulp chemicals, electronic chemicals, specialty polymers, pharmaceutical ingredients, and others. Region wise, the specialty chemicals market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Specialty chemical products are used for various applications, including oil and gas field distribution and exploration, paper-making chemicals, waste water processing, and oil field drilling. Market players are heavily investing in the R&D activities to improve the performance of chemical products.
Specialty chemicals play a vital role in reducing the carbon footprint of the company. Furthermore, the adoption of premium eco-friendly products has increased due to growth in awareness regarding the environment. Therefore, manufacturing companies prefer specialty chemicals to enhance the product functionality and minimize environmental hazards. The adoption of these chemicals is expected to enable companies to cater to the demand from employees, customers, and communities, worldwide. Major players in the 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, and Ashland LLC. Other companies in accordance with specialty chemicals market are Henkel Ag & Co. KGAA, Merck & Co., Inc. Sasol Limited, Koninklijke DSM N.V., PPG Industries Inc., 3M, H.B. Fuller, and others.
KEY BENEFITS FOR STAKEHOLDERS
KEY MARKET SEGMENTS
BY Application
By Region
KEY MARKET PLAYERS
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, among others. Specialty chemicals can be single-chemical formulations or entities whose composition greatly influences the performance of the customers’ product. These chemicals are used on the basis of their function and performance. Continuous R&D in this market has facilitated development of products with optimum and advanced features. This is one of the major factors that drives the growth of this market. With rapid industrialization, noticeable demand from Asian countries such as India and China have arisen. There has been rise in investments in construction and infrastructure development projects in Asia-Pacific. Therefore, Asia-Pacific is considered as a favorable destination for the specialty chemical manufacturers; thereby, boosting the market growth. Whereas, variations in raw material cost and stringent regulations by the government are estimated to hamper the growth of the global specialty chemicals market.
Specialty chemicals, being a knowledge-driven industry has witnessed an increase in R&D activities. Increase in competition in the end-user markets has led to product innovation. The market players have heavily invested in R&D activities to introduce and develop new products with more advanced and new features. This industry has strived to reduce its dependency on petrochemicals and has focused on bio-based or renewable materials. For instance, in 2015, Ashland Inc. (U.S.) launched a new product “Culminal Plus Cementitious” adhesive for the construction industry in the European market.
The global specialty chemicals market is segmented on the basis of type and region. Depending on type, the specialty chemicals market is divided into agrochemicals, flavor ingredients, fragrances ingredients, dyes & pigments, personal care active ingredients, water treatment chemicals, construction chemicals, surfactants, textile chemicals, bio-based chemicals, polymer additives, oil field chemicals, paper & pulp chemicals, electronic chemicals, specialty polymers, pharmaceutical ingredients, and others. Region wise, the specialty chemicals market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Specialty chemical products are used for various applications, including oil and gas field distribution and exploration, paper-making chemicals, waste water processing, and oil field drilling. Market players are heavily investing in the R&D activities to improve the performance of chemical products.
Specialty chemicals play a vital role in reducing the carbon footprint of the company. Furthermore, the adoption of premium eco-friendly products has increased due to growth in awareness regarding the environment. Therefore, manufacturing companies prefer specialty chemicals to enhance the product functionality and minimize environmental hazards. The adoption of these chemicals is expected to enable companies to cater to the demand from employees, customers, and communities, worldwide. Major players in the 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, and Ashland LLC. Other companies in accordance with specialty chemicals market are Henkel Ag & Co. KGAA, Merck & Co., Inc. Sasol Limited, Koninklijke DSM N.V., PPG Industries Inc., 3M, H.B. Fuller, and others.
KEY BENEFITS FOR STAKEHOLDERS
- The report provides an in-depth analysis of the specialty chemicals market forecast along with the current and future market trends
- This report highlights the key drivers, opportunities, and restraints of the market along with the impact analyses during the forecast period
- Porter’s five forces analysis helps analyze the potential of the buyers & suppliers and the competitive scenario of the global specialty chemicals industry for strategy building
- A comprehensive specialty chemicals market analysis covers factors that drive and restrain market growth
- The qualitative data in this report aims on market dynamics, trends, and developments
KEY MARKET SEGMENTS
BY Application
- Agrochemicals
- Insecticide
- Fungicides
- Herbicides
- Ammonium Sulphate Fertilizers
- Calcium Nitrate Fertilizers
- Others
- Flavors Ingredients
- Dairy
- Beverages
- Savory
- Others
- Fragrances Ingredients
- Hair Care
- Personal Care
- Fabric Care
- others
- Dyes and Pigments
- Personal Care Active Ingredients
- Water Treatment Chemicals
- Corrosion and Scale Inhibitor
- Biocides and Disinfectants
- Coagulants and Flocculants
- Activated Car
- Construction Chemicals
- Protective Coatings
- Adhesives and Sealants
- Concrete Admixtures
- Asphalt Additives
- Others
- Surfactants
- Anionic
- Nonionic
- Cationic
- Amphoteric
- Others
- Textile Chemicals
- Colorants and Auxiliaries
- Coating and Sizing Chemicals
- Finishing Chemicals Others
- Bio-Based Chemicals
- Acetic Acid
- Furfural
- Ethanol
- Others
- Polymer Additives
- Oil field Chemicals
- Drilling Fluids
- Cementing Chemicals
- Acidizing Chemicals
- Fracturing Chemicals
- Oil Production Chemicals
- Others
- Paper & Pulp Chemicals
- Bleaching & RCF Chemicals
- Process Chemicals
- Functional Chemicals
- Coating chemicals
- Pigments & Fillers
- Electronic Chemicals
- Specialty Gases
- Conductive Polymers
- Photoresist Chemicals
- Wet Chemicals
- Silicon Wafers
- PCB Laminates
- Others
- Specialty Polymers
- Pharmaceutical Ingredients
- Chemical API
- Biological API
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- Italy
- Spain
- UK
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
- LAMEA
- Brazil
- South Africa
- LAMEA
KEY MARKET PLAYERS
- BASF SE
- DOW
- Bayer AG
- Evonik Industries AG
- Lanxess AG
- Solvay SA
- Clariant AG
- Huntsman International LLC
- Albemarle Corporation
- Nouryon
- Sumitomo Chemical Company
- Ashland LLC
Table of Contents
Chapter 1: Introduction
Chapter 2: Executive Summary
Chapter 3: Market Overview
Chapter 4: Global Specialty Chemicals Market, by Type
Chapter 5: Specialty Chemicals Market, by Region
Chapter 6: Competitive Landscape
Chapter 7: Company Profiles
Executive Summary
According to the report titled, ' Specialty Chemicals Market by Application: Global Opportunity Analysis and Industry Forecast, 2020-2027', the global Specialty Chemicals market size was valued at $711.0 Billion in 2019, and is projected to reach $953.9 billion by 2027, growing at a CAGR of 5.0% from 2020 to 2027. In 2019, pharmaceuticals ingredients segment dominated the market with more than 17.3% share in terms of revenue and more than one-sixth share in terms of value.Specialty chemicals, being a knowledge-driven industry has witnessed an increase in R&D activities. Increase in competition in the end-user markets has led to product innovation. The market players have heavily invested in R&D activities to introduce and develop new products with more advanced and new features. This industry has strived to reduce its dependency on petrochemicals and has focused on bio-based or renewable materials. For instance, in 2015, Ashland Inc. (U.S.) launched a new product “Culminal Plus Cementitious” adhesive for the construction industry in the European market.
This factor is estimated to have medium impact on this industry. With rise in demand for customized products, chemical manufacturers are paying great attention to the innovation and various R&D processes that are expected to help them meet the customers demand. Though performing R&D activities involves high investment and processing cost, but it has become imperative for the companies to maintain their foothold in the industry.
Technological advancements in the system performances have led to the growth of semiconductor technologies; thereby, driving the market for specialty chemicals. Introduction of new and advanced products in the end-user industries such as smart phones, tablets, and wireless devices with developed and better technologies supports the specialty chemicals market for electronic chemicals. In addition, in the automotive electronics market, technological development focuses on the introduction of highly efficient automated products.. These developments in the end-user markets are increasing the demand for electronic chemicals; thereby, driving the growth of the specialty chemicals market in upcoming years
The demand for Specialty Chemicals market is expected to grow at a CAGR of 5.0% in terms of revenue, owing the rise in population is expected to have medium impact on this industry. With increase in population and surge in awareness among consumers, demand for healthy, safe and environment-friendly products is on the rise. To cater to such demands, manufacturers are bound to include various specialty chemicals for numerous end-user industries such as oil & gas, construction, printing inks, and cosmetics among others. Geographically, in specialty chemicals market share, Asia Pacific is expected to hold major share. In term of growth rate, Asia Pacific is estimated to grow with healthy growth rate by end of forecast period.
The major player studied and profiled in the global specialty chemicals market are BASF SE, Dow, Inc., Bayer AG, Evonik Industries AG, Lanxess AG, Solvay SA, Clariant AG, Huntsman International LLC, Albemarle Corporation, Sumitomo Chemical Company, Nouryon, and Ashland LLC., etc.
Key Findings of the Study:
Based on type, the pharmaceutical ingredients and bio-based chemicals segments emerged as the global leader by acquiring around 30.2% of the global market share in 2019, and is anticipated to be the largest markets during the forecast period.
Asia-Pacific is the major consumer of specialty chemicals among other regions. It accounted for around 35.9% of the global market share in 2019 as a result of rapid growth in construction & infrastructure and pharmaceutical industry across the region.
U.S. is the major user of specialty chemicals among other countries. It accounted for around 21.7% of the global market share in 2019, followed by China and India with market share of around 14.0% and 8.4% respectively across the globe.
The LAMEA region accounted for more than one-fourth share of the global specialty chemicals market revenue in 2019.
Companies Mentioned
- BASF SE
- Dow Inc.
- Bayer AG
- Evonik Industries AG
- Lanxess AG
- Solvay SA
- Clariant AG
- Huntsman International LLC
- Albemarle Corporation
- Sumitomo Chemical Company
- Nouryon
- Ashland LLC.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
LOADING...
