July 17, 2024

Specialty Chemicals Market Might Exceed 957.30 billion By 2027

Precedence Research a new report on specialty chemicals Market size, share, growth, industry trends, and forecast 2027, covering various industry elements and growth trends helpful for predicting the market’s future. The global specialty chemicals market size was valued at US$ 721.06 billion in 2019. The global specialty chemicals market is projected to reach US$ 957.30 billion by 2027, registering a compound annual growth rate (CAGR) of 4.9% during the forecast period from 2020 to 2027.

Specialty Chemicals

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Growth Factors:

Increasing demand for function-specific and high-performance chemicals across various end-use industries such as pulp and paper, oil and gas, and personal care & cosmetics projected as one of the significant factors for the market growth of specialty chemicals.

Furthermore, increased innovation and research & development are the key growth factors as the market is largely drive by the changing consumer preferences. Manufacturer’s focus prominently towards offering custom-made and innovative product offerings for the target applications, thus to cater the consumer specific demand investment in research and development have significantly grown over the past years, driving the development of innovative chemicals and significant expansion of product portfolio in the market.

Report Scope of the Specialty Chemicals Market
Report Highlights Details
Market Size USD 957.30 Billion by 2027
Growth Rate CAGR of 4.9% from 2021 to 2027
Largest Market Asia Pacific
Fastest Growing Market North America
Base Year 2021
Forecast Period 2021 to 2027
Segments Covered Application Type, Region Type
Companies Mentioned BASF SE, Bayer AG, Dow, Inc., Lanxess AG, Evonik Industries AG, Clariant AG, Solvay SA, Albemarle Corporation, Huntsman International LLC, Sumitomo Chemical Company, Nouryon, Ashland LLC., Merck & Co., Inc., Henkel Ag & Co. KGAA,

However, stringent government norms coupled with variable price of raw materials anticipated to hinder the market growth. Nonetheless, increased research & development activity for the development of bio-based specialty chemicals expected to fuel the market growth over the forecast period.

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The global specialty chemicals market report offers various segments analysis by size, trends, growth factors, opportunities and key country outlook to 2027. The report offers a detailed analysis and information as per specialty chemicals, market segments helping our readers to get a comprehensive overview of the global market. Several players are planning to focus on developing cost-effective products or services, aiming to maintain a strong foothold in the market.

The company profiling of leading market players is included this report with Porter’s five forces analysis and Value Chain analysis. Further, the strategies exercised by the companies for expansion of business through mergers, acquisitions, and other business development measures are discussed in the report. The financial parameters which are assessed include the sales, profits and the overall revenue generated by the key players of Market.

Report Highlights
  • The Asia Pacific is the largest revenue contributor to the global specialty chemicals market with prominent revenue share of nearly 36%. China as the major dominating region accounting for more than 40% revenue share in the specialty chemicals in the Asia Pacific region drives the regional growth.
  • Europe experienced a stable market for specialty chemicals products. High export rate of specialty chemicals in the region that is nearly 27% of the total exported chemicals in 2018 accounted for regional growth in this market.
  • Pharmaceutical ingredients dominated the global specialty chemicals market with prominent revenue share and predicted to continue its dominance in the forthcoming years. Significant application of specialty chemicals in the pharmaceutical industry such as drugs manufacturing for skin disorder, cardiovascular diseases, and Hughes syndrome drives the market growth.
  • In 2019, agrochemical anticipated to register nearly 12-15% of revenue share in the global specialty chemicals market. Rising population along with increasing demand for food globally triggers the demand for agrochemicals over the coming years.
Regional Snapshots

In 2019, the Asia Pacific led the global specialty chemicals market with prominent revenue share of approximately 36%. This is attributed to the prominent position of China as the leading manufacturing hub for various industries such as automotive, personal care and cosmetics, pharmaceuticals and nutraceuticals, and electrical and electronics, this has primarily contributed to the emergence of the Asia Pacific as the market leader as well as one of the rapidly growing markets for specialty chemicals.

Furthermore, trade liberalization, improved standard of living, advancement in the process technology, and flourishing demand for electronic products in other parts of Asia Pacific such as India, Japan, Singapore, Malaysia, Indonesia, many other ASEAN countries propel the growth of specialty chemicals in the region.

On the contrary, Europe expected to be the stable market for products. As per European Chemical Industry Council (Cefic), specialty chemicals sales in European Union accounted for more than 27% of the total chemicals sold in the financial year 2018. Furthermore, it is one of the significant exporting sectors in the region and held nearly 30-35% of the total chemicals exported in the financial year 2018.

Some of the prominent players in the specialty chemicals market include:
  • BASF SE
  • Bayer AG
  • Dow, Inc.
  • Lanxess AG
  • Evonik Industries AG
  • Clariant AG
  • Solvay SA
  • Albemarle Corporation
  • Huntsman International LLC
  • Sumitomo Chemical Company
  • Nouryon
  • Ashland LLC.
  • Merck & Co., Inc.
  • Henkel Ag & Co. KGAA
  • Sasol Limited
  • 3M
  • PPG Industries Inc.
  • Koninklijke DSM N.V.
  • B. Fuller
Segments Covered in the Report

By Application Outlook

  • Flavors Ingredients
    • Savory
    • Beverages
    • Dairy
    • Others
  • Agrochemicals
    • Fungicides
    • Calcium Nitrate Fertilizers
    • Insecticide
    • Ammonium Sulphate Fertilizers
    • Herbicides
    • Others
  • Dyes & Pigments
  • Fragrances Ingredients
    • Fabric Care
    • Personal Care
    • Hair Care
    • Others
  • Water Treatment Chemicals
    • Biocides and Disinfectants
    • Corrosion and Scale Inhibitor
    • Activated Car
    • Coagulants and Flocculants
  • Personal Care Active Ingredients
  • Surfactants
    • Nonionic
    • Anionic
    • Amphoteric
    • Cationic
    • Others
  • Construction Chemicals
    • Adhesives and Sealants
    • Protective Coatings
    • Asphalt Additives
    • Concrete Admixtures
    • Others
  • Bio-based Chemicals
    • Ethanol
    • Furfural
    • Acetic Acid
    • Others
  • Textile Chemicals
    • Coating and Sizing Chemicals
    • Finishing Chemicals
    • Colorants and Auxiliaries
    • Others
  • Oilfield Chemicals
    • Cementing Chemicals
    • Drilling Fluids
    • Fracturing Chemicals
    • Oil Production Chemicals
    • Acidizing Chemicals
    • Others
  • Polymer Additive
  • Electronics Chemicals
    • Conductive Polymers
    • Specialty Gases
    • Wet Chemicals
    • Photoresist Chemicals
    • PCB Laminates
    • Silicon Wafers
    • Others
  • Paper & Pulp Chemicals
    • Process Chemicals
    • Bleaching & RCF Chemicals
    • Coating chemicals
    • Functional Chemicals
    • Pigments & Fillers
  • Pharmaceutical Ingredients
    • Biological API
    • Chemical API
  • Specialty Polymers
  • Others

Regional Segmentation

  • Asia-Pacific [China, Southeast Asia, India, Japan, Korea, Western Asia]
  • Europe [Germany, UK, France, Italy, Russia, Spain, Netherlands, Turkey, Switzerland]
  • North America [United States, Canada, Mexico]
  • South America [Brazil, Argentina, Columbia, Chile, Peru]
  • Middle East & Africa [GCC, North Africa, South Africa]

Read Also@ Textile Chemicals Market is Anticipated to Grow US$ 35.4 Bn By 2027

Key Questions are
  • What are the key factors influencing the specialty chemicals market in each region?
  • How much value will the global market generate by the end of the forecast period?
  • What will be the CAGR of the global market between 2021 and 2027?
  • What would be the Y-o-Y growth trend of the global market between 2021 and 2027?
  • What is the future scope and current trends in technologies of the global market?
  • What is the revenue of the global market based on segments?
  • Which key strategies are used by top players of the global market?
  • Which are the leading companies in the global market?
  • What are the essential strategies by key stakeholders in the market to expand their geographic presence?
  • What are the major advancements witnessed in the global market?
Research Objectives and Research Approach

The comprehensive report on the global specialty chemicals market begins with an overview, followed by the scope and objectives of the study. The report provides detailed explanation of the objectives behind this study and key vendors and distributors operating in the market and regulatory scenario for approval of products. Following this, the report provides detailed explanation of objectives of this study and laid down by accredited agencies in the purview of research in the global specialty chemicals market.

It is followed by market introduction, market dynamics, and an overview of the global market, which includes analysis of market drivers, restraints, and trends pertaining to the global market. Furthermore, Y-o-Y growth analysis with elaborated insights has been provided in order to understand the Y-o-Y growth trend of the global market.

For reading comprehensibility, the report has been compiled in a chapter-wise layout, with each section divided into smaller sections. The report comprises an exhaustive collection of graphs and tables that are appropriately interspersed. Pictorial representation of actual and projected values of key segments is visually appealing to readers. This also allows comparison of the market shares of key segments in the past and at the end of the forecast period.

The report analyzes the global specialty chemicals market in terms of type, application, region and others. Key segments under each criteria are studied at length, and the market share for each of these at the end of 2027 has also been provided. Such valuable insights enable market stakeholders in making informed business decisions for investment in the global market.

Why should you invest in this report?

If you are aiming to enter the global specialty chemicals market, this report is a comprehensive guide that provides crystal clear insights into this niche market. All the major application areas for specialty chemicals are covered in this report and information is given on the important regions of the world where this market is likely to boom during the forecast period of 2021-2027 so that you can plan your strategies to enter this market accordingly.

Besides, through this report, you can have a complete grasp of the level of competition you will be facing in this hugely competitive market and if you are an established player in this market already, this report will help you gauge the strategies that your competitors have adopted to stay as market leaders in this market. For new entrants to this market, the voluminous data provided in this report is invaluable.

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