Specialty Chemicals Market Outlook - 2027

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. 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.

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The global specialty chemicals market is segmented on the basis of type and region. Depending on type, the 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.

The key players operating 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, 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

Specialty Chemicals Market By Type Your browser does not support the canvas element. Pharmaceutical Ingridents is projected as the most lucrative segment.

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By type, the pharmaceutical ingredients accounted for the largest specialty chemicals market share in 2019, and is anticipated to continue this trend during the forecast period. This is attributed to the numerous applications across the pharmaceutical industry such as manufacturing drugs for cardiovascular diseases, skin disorders, and Hughes syndrome. Pharmaceutical ingredients are basically active ingredients that are present in medicine products. They are manufactured from basic chemical compounds in large reactors in different manufacturing plants. After the base or chemical compound is processed it turns into an intermediate, which finally forms the pharmaceutical ingredient. Based on the production of specific pharmaceutical ingredient the number of intermediates varies from 1 to 10.

Moreover, agrochemical is expected to account for around one-eight market share. Increase in population base along with rise in demand for food is further demanding agrochemicals for the better crop production and protection, which further drives the growth of the specialty chemicals market during the forecast period. Furthermore, growing awareness among farmers toward the use of agrochemicals in farming fuels the growth of the market. With increase in urbanization and industrialization there is decrease in agriculture land, which leads to growth in demand for agrochemicals to increase the crop yield per acre of land; thereby, driving the growth of the specialty chemicals market during the forecast period

Specialty Chemicals Market By Region 2026 Asia Pacific Asia Pacific North America Europe Lamea Asia Pacific holds a dominant position in 2019 and would continue to maintain the lead over the forecast period.

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On the basis of region, Asia-Pacific valued for 36.0% market share, holding the largest market share across all regions. This is attributed to the presence of key developing economies such as China, India, and Japan in this region, which registered the highest market share in the specialty chemicals market in 2017. Specialty chemicals are used in the Asia-Pacific region in various applications such as paints & coatings, water treatment, personal care ingredients & cosmetics, electronics, agriculture, and others. These regions offer lucrative investment opportunities for overseas players.

In 2019, China was the largest market of specialty chemicals in Asia, accounting for around 38.9% share of the overall market. It was followed by India with 23.1% share of the overall market. The specialty chemical market, especially in India, is expected to exhibit dynamic growth during the forecast period. The Indian specialty chemicals industry is highly fragmented and comprises mainly small- to medium-scale companies. Moreover, the unprecedented increase in the use of water treatment chemicals has fueled the growth of the specialty chemicals industry in India.

Furthermore, improving standards of living in most of the developing countries, trade liberalization, growing demand for electronics, and advancements in process technology are the major factors that boost the growth of the specialty chemical industry. Moreover, rise in urbanization and industrialization in the countries such as China, India, and Japan drives the demand for paints & coatings, which further fuels the demand for construction chemicals, which in turn drives the specialty chemicals market during the forecast period. In addition, the demand for water treatment chemicals in Asia-Pacific region, especially in China and India, owing to rise in need for potable water in domestic and industrial applications due to increasing population is expected to fuel the demand for specialty chemicals market.

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