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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