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Tuesday, September 19, 2023

Specialty Chemical Market is anticipated to grow at a CAGR of 4.9% during 2023-2028

The global specialty chemical market is projected to reach $879.1 billion by 2028, at a CAGR of 4.9% during 2023-2028. The growth of specialty chemical market is 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.

Some of the key questions answered in this exclusive report are:

Q.1 What are some of the most promising, high-growth opportunities for the 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)?

Q.2 Which segments will grow at a faster pace and why?

Q.3 What are the business risks and threats to the specialty chemical market?

Q.4 What are some changing demands of customers in the specialty chemical market?

Q.5 What are the new developments in the specialty chemical market? Which companies are leading these developments?

Q.6 What strategic initiatives are being implemented by key players for business growth?

Q.7 What are some of the competitive products and processes in this specialty chemical area and how big of a threat do they pose for loss of market share via product substitution?

Q.8 What M&A activity has occurred in the last 5 years in this specialty chemical market?

Market Segmentation:

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. The agrochemical segment accounted for the largest share of the market in 2023 and is expected to register the highest CAGR during the forecast period, due to the rising demand for nutritious food among growing population and expanding used of these chemicals to protect crops and high-yield goods.

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.

Key Players in the specialty chemical market are Solvay AG, Evonik Industries, Clariant, Akzo Nobel, BASF SE, and Kemira Oyj.

The report helps stakeholders understand the pulse of the market and provides them with information on key drivers, restraints, challenges, and opportunities for market growth. It would also help to understand the competitors better and gain more insights to improve their position in the business.

About Lucintel

Lucintel, the premier global management consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, growth consulting, M&A, and due diligence services to executives and key decision-makers in a variety of industries.

Contact:
Roy Almaguer
Lucintel
Dallas, Texas, USA
Email:
roy.almaguer@lucintel.com
Tel. 972.636.5056

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