Specialty Chemical Market

Specialty Chemical Market is valued at USD 632.81 Billion in 2021 and is expected to reach USD 896.38 Billion by 2028 with a CAGR of 5.1% over the forecast period.  

Global Specialty Chemical Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2022-2028- The increasing demand in various industries and rising investment in research and development activities are some of the major factors expected to accelerate the growth of Global Specialty Chemical Market. 

Scope of Global Specialty Chemical Market Report- 

Specialty chemicals are particular chemical products, they provide a wild variety of effects on many other industry sectors. Specialty chemicals have application in the agricultural, construction, pharmaceutical products processing, chemical and intermediates processing, food processing and ingredients for household, coatings, and paper trading and other areas. The specialty chemical are used as high-performance and function-specific chemicals across different end use industries pesticide, Specialty polymer, electronic chemicals, construction chemicals, industrial cleaners, flavours and fragrance coating, printing inks, water soluble polymer, food additive, paper chemical, water management chemical and others. As a result, leading players are focusing on the development and marketing of specialty chemicals. These players are also investing in research and development (R&D) activities to provide advanced and custom-made specialty chemicals for target their applications. 

Covid-19 pandemic has also impacted the growth of the global specialty chemical market owing to the sudden outbreak of the coronavirus disease (COVID-19), the consequent imposition of lockdowns by governing authorities of various countries and temporary closure of various manufacturing units which adversely impacted the market growth. 

The specialty chemicals market is segmented on the basis of type and geography. Based on type, global specialty chemicals market is divided into polymers institutional & industrial cleaners, electronic chemicals, rubber processing chemicals, flavors & fragrances, construction chemicals, food & feed additives, cosmetic chemicals, oilfield chemicals, mining chemicals, pharmaceutical & nutraceutical additives, plastic additives, printing inks, pulp & paper chemicals, specialty textile chemicals, catalysts water treatment chemicals and others. 

The regions covered in this specialty chemical market report are Asia-Pacific, North America, Europe, and the Rest of the World. Based on a country level, the market of specialty chemical is subdivided into the U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, Southeast Asia, Middle East Asia (UAE, Saudi Arabia, Egypt) GCC, Africa, etc. 

Key Players for Global Specialty Chemical Market Report– 

Some of the key players for specialty chemical are United Therapeutics Corporation, GlaxoSmithKline plc, Novartis AG, AstraZeneca, BASF, Bayer AG, Merck KGaA, Pfizer Inc., Gilead Sciences, Inc., Actelion Pharmaceuticals Ltd, Arena Pharmaceuticals, and Daiichi Sankyo Company, Limited and others. 

Report Analysis	Details
Historical data	2018 - 2021
Forecast Period	2022 - 2028
Market Size in 2021:	USD 632.81 Billion
Base year considered	2021
Forecast Period CAGR %:	5.1%
Market Size Expected in 2028:	USD 896.38 Billion
Tables, Charts & Figures:	175
Pages	200
Specialty Chemical Companies	United Therapeutics Corporation, GlaxoSmithKline plc, Novartis AG, AstraZeneca, BASF, Bayer AG, Merck KGaA, Pfizer Inc., Gilead Sciences, Inc., Actelion Pharmaceuticals Ltd, Arena Pharmaceuticals, and Daiichi Sankyo Company, Limited and others.
Segments Covered	By Product Type
Regional Analysis	North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa

News: - 

US' Verdant Launched New Line of Green Specialty Chemicals 

On May 18th, 2022; In response to changes in the specialty chemical innovation space and the requirements for sustainable consumer products, US’ Verdant Innovations has introduced its first line of specialty green sustainable chemicals initially focused on pulp, textiles, nonwovens, and hemp industries. Verdant develops unique and exclusive green chemical innovation. 

Huntsman Announced the Acquisition of Gabriel Performance Products, Further Expanding its Specialty Chemicals Portfolio  

On December 7th, 2020; Huntsman Corporation announced its agreement to acquired Gabriel Performance Products, a North American specialty chemical manufacturer of specialty additives and epoxy helpful agents for the coatings, adhesives, sealants, and composite end-markets, from funds by Audax Private Equity. According to a company agreement, Huntsman give 250 million, subject to customary closed adjustments, in an all-cash transaction funded from available liquidity. 

The Increasing Demand in Various Industries and Growing Number of Product Offerings are Some of the Major Factors Driving Market Growth 

Its increasing demands in various industries is one of the major factors driving the market growth. Some of its major applications include; agrichemicals, cleaning materials, colours, cosmetic additives, construction chemicals, paper chemical, elastomers, flavours, food additives, fragrances, industrial gases, lubricants, paints, polymers, and other.  Agrochemical is the chemical agent it is used in agriculture or farmland. It’s used in the farm to increase the crops production. For example; according to the Ministry of Statistics and Programme Implementation, Government of India, agriculture and allied sectors in Gross Value Add (GVA) of India for financial year 2020-21 is 20.2%. as well as, according to the Ministry of Agriculture and Farmers Welfare, Government of India, the total area under cultivation  area in India in 2020-21 is nearly 188.595 million hectares out of which 147.349 million hectares is covered by chemical and bio-pesticides. Agrochemical pesticides used for the prevent spread of fungal, agriculture to control weeds, insect infestation and diseases hence rising production in crops in the farms.  

Rising number of product offerings and growing investment in research and development activities are supplementing the market growth. For example; in September 2020, Chemcon Specialty Chemicals Company in India launched its initial public offering (IPO). It offers 93.52 lakh shares of Rs 10 each in the share sales. As well, on June 3rd, 2022; Cosmo Specialty Chemicals launched Cosmo Films silky SF-cationic softener in India. It is used to softening effect of all type of textile. The newly launched product is cost-effective and offers a silky touch to the fabric. The product will be available across the Indian/global market. 

However, stringent government regulations may hamper the market growth. Despite that, growing number of advancements to develop more innovative special chemicals may offer more opportunities for the further growth of the market. 

Global Specialty Chemicals Market Regional Analysis– 

Asia Pacific is expected to show a significant growth in the global specialty chemical market due to the increasing growth of pharmaceutical industry, chemical industry and cosmetics industry in this region. The specialty chemicals are used for the wide range of cosmetic chemicals, health care products and hygiene products. For example, according to the India Brand Equity Foundation, in 2022 The Indian chemicals industry increased at US$ 178 billion in 2019 and is expected to reach US$ 304 billion by 2025. Additionally, according to the IBEF, the specialty chemicals constitute 22% of the total chemicals and petrochemicals market in India from April 2021 to February 2022, exports of organic & inorganic chemicals increased 33.75% YoY to reach US$ 26.48 billion. 

Europe is second dominating chemical specialty market owing to the increasing demand of fuel, additives like Gasoline, Butane, Chloride, Ethanol, and others in this region. According to European economy in 2020 about 2,061 companies partially controlled in 40 Chemical Grounds in 464,437 employed.  

Global Specialty Chemicals Market Segmentation:

 By Product Type

• Polymers Institutional & Industrial Cleaners 
• Electronic Chemicals 
• Rubber Processing Chemicals 
• Flavors & Fragrances 
• Construction Chemicals 
• Food & Feed Additives 
• Cosmetic Chemicals 
• Oilfield Chemicals 
• Mining Chemicals 
• Pharmaceutical & Nutraceutical Additives 
• Plastic Additives 
• Printing Inks
• Pulp & Paper Chemicals
• Specialty Textile Chemicals
• Catalysts Water Treatment Chemicals
• Others 

Specialty Chemical Market Key Players:

• United Therapeutics Corporation
• GlaxoSmithKline plc
• Novartis AG
• AstraZeneca
• BASF
• Bayer AG
• Merck KGaA
• Pfizer Inc.
• Gilead Sciences, Inc.
• Actelion Pharmaceuticals Ltd
• Arena Pharmaceuticals
• Daiichi Sankyo Company, Limited

On Special Requirement Specialty Chemical Market Report is also available for the below Regions and Country:

North America

• U.S.
• Canada

Europe

• Germany
• France
• U.K.
• Italy
• Spain
• Sweden
• Netherland
• Turkey
• Switzerland
• Belgium
• Rest of Europe

Asia-Pacific

• South Korea
• Japan
• China
• India
• Australia
• Philippines
• Singapore
• Malaysia
• Thailand
• Indonesia
• Rest Of APAC

Latin America

• Mexico
• Colombia
• Brazil
• Argentina
• Peru
• Rest of South America

Middle East and Africa

• Saudi Arabia
• UAE
• Egypt
• South Africa
• Rest Of MEA

Key Benefits of Global Specialty Chemicals Market Report– 

• Global Specialty chemicals Market report covers in-depth historical and forecasts analysis. 
• Global Specialty chemicals Market research report provides detailed information about Market Introduction, Market Summary, Global market Revenue (Revenue USD), Market Drivers, Market Restraints, Market opportunities, Competitive Analysis, Regional and Country Level. 
• Global Specialty chemicals Market report helps to identify opportunities in the marketplace.
• Global Specialty chemicals Market report covers extensive analysis of emerging trends and competitive landscape.