Specialty chemicals market is anticipated to exhibit a CAGR of 4.0% during the forecast period. The growing use of the specialty chemicals in the end-user industries is a key factor driving the North American specialty chemical market. Specialty chemicals have wide utility in different industries such as building & construction, electronics & electrical, automotive, among others. Increased consumer spending is boosting the regional demand of chemicals in paints/coatings and soaps/detergents industries, which in turn will propel the demand for the specialty chemicals market across the region.
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The significant rise in the inclination of the public towards the acceptance of eco-friendly construction projects, along with the cohesive government initiatives in the development of the smart industrial sector is further expected to positively impact the revenue of the specialty chemical market. The US is anticipated to hold a major market share in North America. In the US, the resin, synthetic rubber, and artificial & synthetic fibers & filament (NAICS 3252), which includes the plastic materials and resins industry, was the 18th ranked manufacturing industry in 2018. The growing demand for polymers & plastic additives is anticipated to drive the growth of the regional market during the forecast period.
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Market Coverage
- Market number available for – 2019-2026
- Base year- 2019
- Forecast period- 2020-2026
- Segment Covered- Product Type
- Regions Covered- North America
- 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?
o Recovery Timeline
o Deviation from the pre-COVID-19 forecast
o Most affected segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
North American 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.
