US specialty chemical industry is anticipated to grow at a considerable CAGR of 4.1% during the forecast period. The construction industry is one of the major contributors to the US economy. As per the Associated General Contractors of America (AGC), it comprises over 680,000 employers with over 7 million employees in the construction industry. The infrastructure investment is further anticipated to increase due to growth in the construction activities seen in the recent past. The growing construction industry is anticipated to drive the demand for specialty chemicals for several construction applications which in turn is anticipated to drive the growth of the specialty chemical market.
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According to the Bureau of Labor Statistics, construction and extraction occupations are projected to grow by 4% from 2019 to 2029, which is nearly as fast as the average for all occupations. The growth is, in part, being driven by population growth and urbanization, which is increasing demand for new buildings, roads, and other structures. There are several factors that fuel the demand for specialty chemicals in the construction industry in the US, such as increased spending in building construction, which includes spending in enhancing the aesthetics of the buildings.
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Market Coverage
- Market number available for – 2019-2026
- Base year- 2019
- Forecast period- 2020-2026
- Segment Covered- By Product Type
- Competitive Landscape- SABIC, BASF SE, Bayer AG, Eastman Chemical Company, Evonik Industries AG
Key questions addressed by the report
- What is the market growth rate?
- Which segment dominates the market in the base year?
- Which segment will project the fastest growth in the market?
- How COVID-19 impacted the market?
- Recovery Timeline
- Deviation from the pre-COVID-19 forecast
- Most affected segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
US Specialty Chemicals Market report Segment
By Product Type
- Agrochemicals
- Cleaning Chemicals
- Construction Chemicals
- Electronic Chemicals
- Food Additives
- Adhesive & Sealants
- Specialty Coatings
- Surfactants
- Paper & Textile Chemicals
- Lubricants & Oilfield Chemicals
- Polymers & Plastic Additives
- Others
This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.
