Specialty Chemicals Market

Specialty Chemicals Market earned USD 272.6 billion in 2022 and is projected to reach USD 402.8 billion in 2030, and the market is expected to grow at a CAGR of 5.0% till 2030.

Introduction of Specialty Chemicals Market Report

Increasing adoption of high-performance specialty chemicals across oil and gas, textiles, food, and cosmetics industries, owing to the composition and efficiency stands to be a prime factor contributing to the global specialty chemicals market growth. Growing emphasis of producers on innovating advanced and customized offering to cater the demand for customers has augmented the specialty chemicals market size. Increasing inclination towards a healthy lifestyle and rising per capita income among consumers has driven the demand for specialty chemicals pharmaceuticals, nutraceuticals, and personal care segment, propelling the market growth.

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Key Drivers

As per the specialty chemicals market report, rising concern about the hazardous impact of conventional chemicals on environment have drift individuals towards user friendly and eco-friendly specialty chemicals. Thus, the emphasis of leading players to develop and promote specialty chemicals to attain a competitive position in the market will drive the market growth. Increasing construction activities have strengthened the adoption of specialty chemicals owing to their ability to improve the structural properties of building and reduce the need for repairs, which will augment the market growth. However, increasing environmental concern and reduction in the fuel reserves will impede the specialty chemicals market size over the upcoming years.

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Electronics chemicals, Specialty polymer, construction chemicals, industrial cleaners are the largest segments and account for more than one third of the overall market. Asia is the largest market for specialty chemical market globally and account for one third of the global market in 2014 as increasing industrialization in Asian countries giving rise to manufacturing sectors.

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This research report on the specialty chemical provides in-depth analysis of the global market based on functions and applications markets and major geographies for the period from 2023-2030. The report highlights the major market drivers pushing the growth and challenges faced by market participants. The research report provides market size and forecast for all the market segments and verticals markets. The report also analyzes the competitive landscape and the major player and their market share in 2023. The competitive landscape section of the report also captures and highlights the recent development in the market.

Top Market Players

The report also profiles the major companies active in this field, including 3M, Akzo Nobel, Ashland, BASF, Dow Chemicals, Buckman Laboratories International Inc, Cryoda International Inc, Cytec industries, Ferro Corp, PPG Industries.

Key Development:

• • In 2021, BASF and SINOPEC decided to expand the Verbund site in Nanjing, China, operated by BASF-YPC Co., Ltd. (BASF-YPC),. The partnership will expand the production capacities of propionic aldehyde, propionic acid, ethyleneamines, ethanolamines and purified ethylene oxide, and developed a new tert-butyl acrylate plant.
  • In 2021, Dow established a $250 million specialty chemical plant in Zhanjiang, China. The US company signed an agreement with the local economic development zone targeting the construction of specialty polyurethane and alkoxylate facilities with combined production capacity of about 250,000 metric tons per year.

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Segments Covered in the report:

The Specialty Chemicals meter market is segmented on the basis of types, application and geography:

Market Segmentation

Global Specialty Chemicals market by functions

• • Antioxidants
  • Biocide
  • Catalyst
  • Enzymes
  • Separation Membrane
  • Specialty Coating
  • Specialty Pigments

Global Specialty Chemicals market by application

• •  Mining Chemicals
  •  Textile Chemicals
  •  Construction Chemicals
  •  Electronics Chemicals
  •  Oil Field Chemicals
  •  Pesticide
  •  Specialty Paper Chemicals
  •  Water Treatment Chemicals
  •  Food Additives
  •  Printing Ink
  •  Specialty Polymer
  •  Rubber Processing Chemicals
  •  Water Management Chemicals
  •  Specialty Surfactants
  • Advanced Ceramic Materials

Global Specialty Chemicals market by geography

• • North America Silicone Gel Market (Option 1: As a part of the free 25% customization)

    • By Functions
    • By Application
    • US Market All-Up
    • Canada Market All-Up

  • Europe Silicone Gel Market (Option 2: As a part of the free 25% customization)

    • By Functions
    • By Application
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up

  • Asia-Pacific Silicone Gel Market (Option 3: As a part of the free 25% customization)

    • By Functions
    • By Application
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up

  • RoW Silicone Gel Market (Option 4: As a part of the free 25% customization)

    • By Functions
    • By Application
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Global Specialty Chemicals market competitive landscape

• • Major players and their market share analysis
  • New product launches
  • Mergers and acquisitions
  • Collaborations, partnerships, agreements and joint ventures