Specialty Chemicals Market
SHARE
PUBLISHED: 2022 ID: SMRC21720
SHARE

Specialty Chemicals Market Forecasts to 2028 – Global Analysis By Type (Printing Inks, Food Additives, Textile Chemicals), Function (Surfactant, Specialty Pigments, Specialty Enzymes) and By Geography

4.2 (95 reviews)
4.2 (95 reviews)
Published: 2022 ID: SMRC21720

This report covers the impact of COVID-19 on this global market
Loading...

Years Covered

2020-2028

Estimated Year Value (2022)

US $871.00 BN

Projected Year Value (2028)

US $1,307.14 BN

CAGR (2022 - 2028)

7.0%

Regions Covered

North America, Europe, Asia Pacific, South America, and Middle East & Africa

Countries Covered

US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa

Largest Market

North America

Highest Growing Market

Asia Pacific


According to Stratistics MRC, the Global Specialty Chemicals Market is accounted for $871.00 billion in 2022 and is expected to reach $1,307.14 billion by 2028 growing at a CAGR of 7.0% during the forecast period. Specialty chemicals are applicable in industry-specific requirements. These chemicals impart a variety of features to the products, have a high degree of value addition and are produced in small volumes. Specialty chemicals, also called as effect chemicals, these are chemicals which provide different effect when added to different chemical or substances. Speciality chemicals are resources used on the basis of their performance or purpose.  

The Indian government has set up a 2034 vision for the chemicals and petrochemicals sector to explore opportunities to improve domestic production, reduce imports and attract investments in the sector. The government plans to implement a production-link incentive system with 10-20% output incentives for the agrochemical sector; to create an end-to-end manufacturing ecosystem through the growth of clusters. The initiative will positively contribute to the growth of the Specialty Chemicals Market in India. The Food and Agriculture Organization of the United Nations (FAO) and the International Food Policy Research Institute (IFPRI) have published projections of an increase in global food demand out to 2050. The FAO projections indicate that world food demand may increase by 70% by 2050, with much of the projected increase in global food demand expected to come from rising consumer incomes in regions such as Asia-Pacific, Eastern Europe, and Latin America.



Market Dynamics:

Driver:

Rising demand for personal care products


Over the past 12-18 months, chemical companies have noticed an expansion in the consumption of specialty items. They have now evaluated their production plans in light of present situations and are promptly mounting up and reorganizing their production abilities. Hence, this growing implementation of cleaners and disinfectants has given a quiet boost to the market. Moreover, the older folks suffer from advanced age and health conditions such as hair loss and skin deterioration, which will fuel the acceptance of cosmetic chemicals, favoring the market. This factor has led to considerable growth in the demand for surfactants and personal care chemicals, driving the growth of the market.

Restraint:

Unstable raw material costs


Constant fluctuations in the prices of raw materials are anticipated to hamper market growth in the coming years. Many specialty chemicals are produced using petroleum-based commodity chemicals. Instabilities in the cost of crude oil affect the input price of specialty chemicals, therefore reducing the profitability of market players. The COVID-19 outbreak in 2020 hurt the market revenue. Several countries were in lockdown. As per the OICA, the global automotive production reduced to 31.1 million units in the second quarter followed by falling to 52.1 units in the third quarter. The car sales in prominent countries like China and Europe were also very low. These factors are restraining the market from growing during the forecast period.

Opportunity:

Increasing demand from Automotive Industry


Automotive manufacturing industry is one of the important end-users of a market. The high demand for adhesives, paints, lubricants, and coatings for weight reduction and to advance the performance of the vehicles is estimated to propel the market growth. Lightweight automotive components such as energy absorbers, fenders and instrument panels are manufactured using specialty chemicals as a raw material thereby creating ample opportunity for the market growth.

Threat:

Stringent Regulations


The majority of specialty chemicals are synthetic, which can adversely affect the environment and therefore affect chemicals of flora and fauna. Because of their toxic nature, environmental protection authorities have placed several environmental restrictions on the use of synthetic chemicals, which can impede the size of the market over the timeframe forecast.

Covid-19 Impact

The market was negatively impacted by the COVID-19 outbreak. Owing to the pandemic scenario, several countries went into lockdown, which led to supply chain disruptions, work stoppages, and labor shortages. This negatively impacted various industries, like construction, mining, automotive, cosmetics, food and beverages, and other industries.

The agrochemicals segment is expected to be the largest during the forecast period

The agrochemicals segment is expected to be the largest during the forecast period. The growing population base, combined with the rising food demand, is increasing the adoption of agrochemicals for improved crop production and protection, fuelling the growth of the market. Moreover, rising consciousness amongst farmers about the use of agrochemicals in agricultural fields also fuels the market’s growth. Furthermore, as urbanization and industrial development speed up, agricultural land decreases, leading to a higher demand for agrochemicals to significantly raise crop yield per acre of land, thereby propelling the growth of the market.

The Construction Chemicals segment is expected to have the highest CAGR during the forecast period

The Construction Chemicals segment is expected to have the highest CAGR during the forecast period, owing to rising demand for specialized repair and renovation compounds, tile fixing adhesives, water-proofing compounds, and joint fillers, and is motivating the segment growth.

Region with highest share:

North America is projected to hold the largest market share during the forecast period, as North America is a chief user of cosmetic chemicals, biocides, inhibitors, corrosion, institutional cleaners, lubricating oil additives, and synthetic lubricants, which account for a large share of the market. The increasing demand for construction chemicals from the U.S. and Canada on account of an upsurge in investments in infrastructure projects has also aided North America to secure constructive market growth. As a result, this province is regarded as a promising destination for specialty chemical manufacturers owing to the profitable investment opportunities provided to foreign players.

Region with highest CAGR:

Asia Pacific is projected to have the highest CAGR over the forecast period. The Asia Pacific is the major revenue contributor to the market throughout the forecast period. The increasing industrial activities in agriculture, food, cosmetics, and other manufacturing sectors in countries like China and India, will contribute significantly to the growth of the market in the province.



Key players in the market:

Some of the key players profiled in the Specialty Chemicals Market include BASF SE, The DOW Chemical Company, Solvay SA, PPG Industries, Novozymes, LANXESS, Huntsman Corporation, Henkel AG & Co. KGAA, Ferro Corporation, Evonik Industries AG , ESpecialty Chemicalson Mobil Corporation, Clariant AG, Chevron Phillips Chemical Company , Bayer AG, Ashland Inc., Albemarle Corporation, Akzonobel N.V.
           . 
Key Developments:

In January 2021: Huntsman Corporation announced that it successfully completed the takeover of Gabriel Performance Products, an Ohio-based manufacturer of epoxy curing agents and specialty additives, for USD 250 million from Audax Private Equity.

In August 2019: PPG completed its acquisition of Dexmet Corporation, a manufacturer of specialty materials for surfaces in aerospace, automotive, and industrial applications.

In September 2020: Henkel AG & Co. KGaA announced to invest $23 million to expand its liquid hand soap and hand sanitizer manufacturing facilities in Geneva (Switzerland) and New York and Pennsylvania (U.S.), to meet the increasing demand for cleaning chemicals amid the COVID-19 pandemic.
 
Functions Covered:
• Surfactant            
• Specialty Pigments             
• Specialty Enzymes            
• Specialty Coatings           
• Separation Membranes           
• Demulsifier           
• Catalysts             
• Biocides             
• Antioxidants            
 
Types Covered:

• Specialty Polymers            
• Printing Inks           
• Food Additives            
• Textile Chemicals          
• Specialty Paper Chemicals          
• Specialty Oilfields Chemicals           
• Rubber Processing Chemicals           
• Plastic Additives             
• Pesticides            
• Electronic Chemicals           
• Construction Chemicals           
• Advanced Ceramic Materials           
• Adhesives            
• Water Treatment Chemicals      
• Specialty Mining Chemicals           
• Agrochemicals
 
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan       
o China       
o India       
o Australia 
o New Zealand
o South Korea
o Rest of Asia Pacific   
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025 and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Table of Contents

1 Executive Summary      
       
2 Preface      

 2.1 Abstract     
 2.2 Stake Holders     
 2.3 Research Scope     
 2.4 Research Methodology     
  2.4.1 Data Mining    
  2.4.2 Data Analysis    
  2.4.3 Data Validation    
  2.4.4 Research Approach    
 2.5 Research Sources     
  2.5.1 Primary Research Sources    
  2.5.2 Secondary Research Sources    
  2.5.3 Assumptions    
       
3 Market Trend Analysis      
 3.1 Introduction     
 3.2 Drivers     
 3.3 Restraints     
 3.4 Opportunities     
 3.5 Threats     
 3.6 Emerging Markets     
 3.7 Impact of Covid-19     
       
4 Porters Five Force Analysis      
 4.1 Bargaining power of suppliers      
 4.2 Bargaining power of buyers     
 4.3 Threat of substitutes     
 4.4 Threat of new entrants     
 4.5 Competitive rivalry     
       
5 Global Specialty Chemicals Market, By Function      
 5.1 Introduction     
 5.2 Surfactant                   
 5.3 Specialty Pigments                  
 5.4 Specialty Enzymes                  
 5.5 Specialty Coatings                 
 5.6 Separation Membranes                 
 5.7 Demulsifier                 
 5.8 Catalysts                   
 5.9 Biocides                   
 5.10 Antioxidants                  
       
6 Global Specialty Chemicals Market, By Type      
 6.1 Introduction     
 6.2 Specialty Polymers                  
  6.2.1 Specialty Thermosets              
  6.2.2 Specialty Thermoplastics              
  6.2.3 Specialty Elastomers              
  6.2.4 Specialty Composites              
 6.3 Printing Inks                 
 6.4 Food Additives                  
 6.5 Textile Chemicals                  
  6.5.1 Automotive Textiles              
  6.5.2 Geo-textiles               
  6.5.3 Home Furnishing               
  6.5.4 Industrial Textiles               
 6.6 Specialty Paper Chemicals                
 6.7 Specialty Oilfields Chemicals                 
 6.8 Rubber Processing Chemicals                 
 6.9 Plastic Additives                  
 6.10 Pesticides                  
 6.11 Electronic Chemicals                 
 6.12 Construction Chemicals                 
 6.13 Advanced Ceramic Materials                  
 6.14 Adhesives                  
 6.15 Water Treatment Chemicals                 
  6.15.1 pH Adjusters & Softeners              
  6.15.2 Defoamers & Defoaming Agents             
  6.15.3 Corrosion & Scale Inhibitors              
  6.15.4 Coagulants & Flocculants              
  6.15.5 Biocides & Disinfectants              
 6.16 Specialty Mining Chemicals                 
 6.17 Agrochemicals     
  6.17.1 Insecticide    
  6.17.2 Herbicides    
  6.17.3 Fungicides    
  6.17.4 Calcium Nitrate Fertilizers    
  6.17.5 Ammonium Sulphate Fertilizers    
       
7 Global Specialty Chemicals Market, By Geography      
 7.1 Introduction     
 7.2 North America     
  7.2.1 US    
  7.2.2 Canada    
  7.2.3 Mexico    
 7.3 Europe      
  7.3.1 Germany    
  7.3.2 UK    
  7.3.3 Italy    
  7.3.4 France    
  7.3.5 Spain    
  7.3.6 Rest of Europe    
 7.4 Asia Pacific     
  7.4.1 Japan    
  7.4.2 China    
  7.4.3 India    
  7.4.4 Australia    
  7.4.5 New Zealand    
  7.4.6 South Korea    
  7.4.7 Rest of Asia Pacific    
 7.5 South America     
  7.5.1 Argentina    
  7.5.2 Brazil    
  7.5.3 Chile    
  7.5.4 Rest of South America    
 7.6 Middle East & Africa     
  7.6.1 Saudi Arabia    
  7.6.2 UAE    
  7.6.3 Qatar    
  7.6.4 South Africa    
  7.6.5 Rest of Middle East & Africa    
       
8 Key Developments      
 8.1 Agreements, Partnerships, Collaborations and Joint Ventures     
 8.2 Acquisitions & Mergers     
 8.3 New Product Launch     
 8.4 Expansions     
 8.5 Other Key Strategies     
       
9 Company Profiling      
 9.1 BASF SE                   
 9.2 The DOW Chemical Company                 
 9.3 Solvay SA                  
 9.4 PPG Industries                 
 9.5 Novozymes                  
 9.6 LANXESS                  
 9.7 Huntsman Corporation                 
 9.8 Henkel AG & Co. KGAA                 
 9.9 Ferro Corporation                  
 9.10 Evonik Industries AG                 
 9.11 ESpecialty Chemicalson Mobil Corporation                 
 9.12 Clariant AG                  
 9.13 Chevron Phillips Chemical Company                
 9.14 Bayer AG                   
 9.15 Ashland Inc.                  
 9.16 Albemarle Corporation                 
 9.17 Akzonobel N.V                 


List of Tables       
1 Global Specialty Chemicals Market Outlook, By Region (2020-2028) (US $MN)       
2 Global Specialty Chemicals Market Outlook, By Function (2020-2028) (US $MN)       
3 Global Specialty Chemicals Market Outlook, By Surfactant (2020-2028) (US $MN)       
4 Global Specialty Chemicals Market Outlook, By Specialty Pigments (2020-2028) (US $MN)       
5 Global Specialty Chemicals Market Outlook, By Specialty Enzymes (2020-2028) (US $MN)       
6 Global Specialty Chemicals Market Outlook, By Specialty Coatings (2020-2028) (US $MN)       
7 Global Specialty Chemicals Market Outlook, By Separation Membranes (2020-2028) (US $MN)       
8 Global Specialty Chemicals Market Outlook, By Demulsifier (2020-2028) (US $MN)       
9 Global Specialty Chemicals Market Outlook, By Catalysts (2020-2028) (US $MN)       
10 Global Specialty Chemicals Market Outlook, By Biocides (2020-2028) (US $MN)       
11 Global Specialty Chemicals Market Outlook, By Antioxidants (2020-2028) (US $MN)       
12 Global Specialty Chemicals Market Outlook, By Type (2020-2028) (US $MN)       
13 Global Specialty Chemicals Market Outlook, By Specialty Polymers (2020-2028) (US $MN)       
14 Global Specialty Chemicals Market Outlook, By Specialty Thermosets (2020-2028) (US $MN)       
15 Global Specialty Chemicals Market Outlook, By Specialty Thermoplastics (2020-2028) (US $MN)       
16 Global Specialty Chemicals Market Outlook, By Specialty Elastomers (2020-2028) (US $MN)        
17 Global Specialty Chemicals Market Outlook, By Specialty Composites (2020-2028) (US $MN)       
18 Global Specialty Chemicals Market Outlook, By Printing Inks (2020-2028) (US $MN)       
19 Global Specialty Chemicals Market Outlook, By Food Additives (2020-2028) (US $MN)       
20 Global Specialty Chemicals Market Outlook, By Textile Chemicals (2020-2028) (US $MN)       
21 Global Specialty Chemicals Market Outlook, By Automotive Textiles (2020-2028) (US $MN)       
22 Global Specialty Chemicals Market Outlook, By Geo-textiles (2020-2028) (US $MN)       
23 Global Specialty Chemicals Market Outlook, By Home Furnishing (2020-2028) (US $MN)       
24 Global Specialty Chemicals Market Outlook, By Industrial Textiles (2020-2028) (US $MN)       
25 Global Specialty Chemicals Market Outlook, By Specialty Paper Chemicals (2020-2028) (US $MN)       
26 Global Specialty Chemicals Market Outlook, By Specialty Oilfields Chemicals (2020-2028) (US $MN)       
27 Global Specialty Chemicals Market Outlook, By Rubber Processing Chemicals (2020-2028) (US $MN)       
28 Global Specialty Chemicals Market Outlook, By Plastic Additives (2020-2028) (US $MN)       
29 Global Specialty Chemicals Market Outlook, By Pesticides (2020-2028) (US $MN)       
30 Global Specialty Chemicals Market Outlook, By Electronic Chemicals (2020-2028) (US $MN)       
31 Global Specialty Chemicals Market Outlook, By Construction Chemicals (2020-2028) (US $MN)       
32 Global Specialty Chemicals Market Outlook, By Advanced Ceramic Materials (2020-2028) (US $MN)       
33 Global Specialty Chemicals Market Outlook, By Adhesives  (2020-2028) (US $MN)       
34 Global Specialty Chemicals Market Outlook, By Water Treatment Chemicals (2020-2028) (US $MN)       
35 Global Specialty Chemicals Market Outlook, By pH Adjusters & Softeners (2020-2028) (US $MN)       
36 Global Specialty Chemicals Market Outlook, By Defoamers & Defoaming Agents (2020-2028) (US $MN)       
37 Global Specialty Chemicals Market Outlook, By Corrosion & Scale Inhibitors (2020-2028) (US $MN)       
38 Global Specialty Chemicals Market Outlook, By Coagulants & Flocculants (2020-2028) (US $MN)       
39 Global Specialty Chemicals Market Outlook, By Biocides & Disinfectants (2020-2028) (US $MN)       
40 Global Specialty Chemicals Market Outlook, By Specialty Mining Chemicals (2020-2028) (US $MN)       
41 Global Specialty Chemicals Market Outlook, By Agrochemicals (2020-2028) (US $MN)      
42 Global Specialty Chemicals Market Outlook, By Insecticide (2020-2028) (US $MN)      
43 Global Specialty Chemicals Market Outlook, By Herbicides (2020-2028) (US $MN)      
44 Global Specialty Chemicals Market Outlook, By Fungicides (2020-2028) (US $MN)      
45 Global Specialty Chemicals Market Outlook, By Calcium Nitrate Fertilizers (2020-2028) (US $MN)      
46 Global Specialty Chemicals Market Outlook, By Ammonium Sulphate Fertilizers (2020-2028) (US $MN)      
       
Note- Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.       

Frequently Asked Questions

In case of any queries regarding this report, you can contact the customer service by filing the “Inquiry Before Buy” form available on the right hand side. You may also contact us through email: info@strategymrc.com or phone: +1-301-202-5929

Yes, the samples are available for all the published reports. You can request them by filling the “Request Sample” option available in this page.

Yes, you can request a sample with your specific requirements. All the customized samples will be provided as per the requirement with the real data masked.

All our reports are available in Digital PDF format. In case if you require them in any other formats, such as PPT, Excel etc you can submit a request through “Inquiry Before Buy” form available on the right hand side. You may also contact us through email: info@strategymrc.com or phone: +1-301-202-5929

We offer a free 15% customization with every purchase. This requirement can be fulfilled for both pre and post sale. You may send your customization requirements through email at info@strategymrc.com or call us on +1-301-202-5929.

We have 3 different licensing options available in electronic format.

  • Single User Licence: Allows one person, typically the buyer, to have access to the ordered product. The ordered product cannot be distributed to anyone else.
  • 2-5 User Licence: Allows the ordered product to be shared among a maximum of 5 people within your organisation.
  • Corporate License: Allows the product to be shared among all employees of your organisation regardless of their geographical location.

All our reports are typically be emailed to you as an attachment.

To order any available report you need to register on our website. The payment can be made either through CCAvenue or PayPal payments gateways which accept all international cards.

We extend our support to 6 months post sale. A post sale customization is also provided to cover your unmet needs in the report.

Request Customization

We provide a free 15% customization on every purchase. This requirement can be fulfilled for both pre and post sale. You may send your customization requirements through email at info@strategymrc.com or call us on +1-301-202-5929.

Note: This customization is absolutely free until it falls under the 15% bracket. If your requirement exceeds this a feasibility check will be performed. Post that, a quote will be provided along with the timelines.

WHY CHOOSE US ?

Assured Quality

Assured Quality

Best in class reports with high standard of research integrity

24X7 Research Support

24X7 Research Support

Continuous support to ensure the best customer experience.

Free Customization

Free Customization

Adding more values to your product of interest.

Safe and Secure Access

Safe & Secure Access

Providing a secured environment for all online transactions.

Trusted by 600+ Brands

Trusted by 600+ Brands

Serving the most reputed brands across the world.

Testimonials