Specialty chemicals market is anticipated to exhibit a CAGR of 4.9% during the forecast period. The growing use of specialty chemicals in the end-user industries is a key factor driving the global specialty chemical market. Cement manufacturing, concrete production, corrosion inhibition, coating, and paints are the key applications of specialty chemicals in the construction industry. In cement production, specialty chemicals are used as a combustion agent, fuels, gypsum, and set controller. In concrete, these are used to prepare chemical admixture and superplasticizers such as RMC, SCC, and RPC. As a corrosion inhibitor, they are used as accelerator, retarders, and freeze-thaw agents.
The outlook of the construction industry appears upbeat, consequently increasing the demand for specialty chemicals, globally. According to a study by the Institution of Civil Engineers (ICE), the global construction industry is expected to reach a value of $8.0 trillion by 2030, primarily driven by China, India, and the US. In Europe, the construction industry has witnessed a solid growth rate and is estimated to record significant growth in the next few years. Hence, from the rapidly growing construction activities in the above countries, the demand for specialty chemicals will increase which in turn will drive the growth of the global specialty chemical market.
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Market Coverage
- Market number available for – 2021-2029
- Base year- 2021
- Forecast period- 2023-2029
- Segment Covered- By Product Type
- Regions Covered- North America, Europe, Asia-Pacific, Rest of the World
- Competitive Landscape- SABIC, BASF SE, Bayer AG, Eastman Chemical Co., Evonik Industries AG
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
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Specialty Chemicals Market Report Segment
North America
- United States
- Canada
Europe
- UK
- Germany
- Spain
- France
- Italy
- Rest of Europe
Asia-Pacific
- India
- China
- Japan
- South Korea
- Rest of APAC
Rest of the World
- Latin America
- Middle East & Africa
Company Profiles
- 3M Co.
- Akzo Nobel N.V.
- Albemarle Corp.
- Ashland Global Holdings Inc.
- BASF SE
- Bayer AG
- Chemtura Corp.
- Chevron Philips Chemical Co. LLC
- China Petroleum & Chemical Corp. (SINOPEC)
- Clariant AG
- Covestro AG
- Croda International Plc
- DIC Corp.
- Dow Inc.
- DuPont de Nemours Inc
- Eastman Chemical Co.
- Evonik Industries AG
- FMC Corp.
- Huntsman International LLC
- INEOS AG
- Kemira Oyj
- Lanxess AG
- Mitsubishi Chemical Holdings Corp.
- SABIC
- Solvay SA
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