According to the recent study the specialty chemical market is projected to reach an estimated $879.1 billion by 2028 from $692.4 billion in 2023, at a CAGR of 4.9% from 2023 to 2028. Growth in this market is primarily driven by growing demand for flavouring agents in food and beverages, increasing adoption of bio-based speciality chemicals, and substantial use of chemicals across a wide range of end uses that are often low-volume, high-value, and ultra-pure.
A more than 150 – page report is developed to understand trends, opportunities and forecast in specialty chemical market by product type (agrochemicals, dyes and pigments, construction chemicals, specialty polymers, textile chemicals, base ingredients, surfactants, functional ingredients, water treatment, and others) and region (North America, Europe, Asia Pacific, and the Rest of the World).
“Agrochemical market is expected to remain the largest segment during the forecast period.”
Based on product type, the specialty chemical market is segmented into agrochemicals, dyes and pigments, construction chemicals, specialty polymers, textile chemicals, base ingredients, surfactants, functional ingredients, water treatment, and others. Lucintel forecasts that the agrochemical market is expected to remain the largest segment due to the rising demand for nutritious food among growing population and expanding used of these chemicals to protect crops and high-yield goods.
“Asia pacific will dominate the specialty chemical market in near future”
APAC will remain the largest region due to the easy access to raw materials and inexpensive worker and existence of huge chemical production base in China and India.
Major players of specialty chemical market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. Solvay AG, Evonik Industries, Clariant, Akzo Nobel, BASF SE, and Kemira Oyj are among the major specialty chemical providers.
This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or write us at email@example.com
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