Specialty Chemicals Market Likely To Reach A Valuation Of Around $1.79 Trillion By 2025: Grand View Research,Inc.

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The global specialty chemicals market is expected to reach USD 1.79 trillion by 2025, according to report by Grand View Research, Inc. Growing popularity of high-value chemicals that play a crucial role in the development of novel products is a major driving factor for the industry.

According to a report by Grand View Research, Inc., the global specialty chemicals market is anticipated to attain USD 1.79 trillion by 2025. Growing need for function-specific chemicals attributed to changes in lifecycles of industrial and consumer products can fuel the market over the forecast period (2018 to 2025).

Rising concerns regarding green-house emissions to control pollution can drive growth of market for specialty chemicals. Growing adoption of biodegradable plastics and water-based paints can stimulate market expansion in the forthcoming years. In addition, increasing use of rechargeable and solar-powered electronic products is anticipated to positively influence the expansion. Continual technological advancements in specialty chemicals and rising popularity of high-value chemicals can further fuel growth. Increasing refining and drilling activities can foster growth of market during the forecast period.

Full Research Report On Specialty Chemicals Market Analysis: 

U.S. specialty chemicals market revenue by product, 2014 – 2025 (USD Million)


U.S. specialty chemicals market revenue by product, 2014 - 2025 (USD Million)

The worldwide specialty chemicals market can be segregated on the basis of product, application, and region. Based on product, the market can be categorized into agrochemicals, electronic chemicals, construction chemicals, specialty polymers and resins, and others. Construction chemicals segment is likely to witness the fastest CAGR of around 5.7% during the forecast period. Increasing use in joint fillers, fixing adhesives, and repair and renovation compounds can foster growth. Rising number of construction activities in countries including China, India, and Thailand can augment of the demand over the forecast period.

Agrochemicals segment is projected to grow at a significant pace in emerging economies attributed to rising demand for food and high dependency on food cultivation and farming. Rising demand for high crop yield can further augment growth. In addition, rapid industrialization and automation can propel demand for maintenance fluids, lubricants, and other specialty products. This factor is anticipated to bode well for the overall market expansion over the forecast period.

Based on application, the market can be fragmented into agriculture, industrial manufacturing, construction, automotive, consumer goods, and others. Automotive is projected to expand at the fastest CAGR during the forecast period. Rising demand for lubricants, paints, adhesives, coatings, and others to reduce cost and weight can augment growth. Specialty chemicals are projected to account for 20% of total content in automobiles. Original Equipment Manufacturers (OEMs) are expected to increase adherence with guidelines regarding sustainability and harmful emissions. This, in turn, can boost demand over the forecast period.

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Global specialty chemicals market volume by application, 2016 (%)

Global specialty chemicals market volume by application, 2016 (%)

On the other hand, construction sector is projected to contribute well in terms of demand for specialty chemicals. Increasing use of specialty chemicals to enhance strength of buildings can fuel growth during the forecast period. In addition, efforts to reduce cement and water consumption during construction activities can stimulate product demand in the forthcoming years. Industrial manufacturing is predicted to grow well over the forecast period attributed to rising dependency on local production. It can reduce dependency on imports in various economies.

Regional segmentation includes Asia Pacific, Europe, North America, Central and South America, and Middle East and Africa. Asia Pacific is projected to witness the fastest growth during the forecast period. Growing number of market players is attributed to the growth of the regional market. In addition, low labor costs and affordable prices of raw materials can further propel regional growth in the forthcoming years. Countries including Malaysia, Thailand, India, and Singapore are predicted to register high demand attributed to rapid economic growth. It can create lucrative opportunities for investors looking for new business opportunities.

In Central and South America, the market for specialty chemicals is anticipated to witness significant growth over the forecast period. Growth of automotive, construction, and electronics sector in countries including Colombia, Peru, and Chile can fuel regional market growth. Supportive initiatives from local governments to promote production of specialty chemicals can further fuel the growth over the forecast period.

Middle East is predicted to grow at a significant pace over the forecast period attributed to presence of crude oil reserves in the region. Growth of construction sector in UAE, Qatar, Saudi Arabia, and Oman can stimulate regional growth. In addition, growth of consumer goods, electronics, and automotive sectors is anticipated to positively influence regional expansion in near future.

Some of the leading companies operating in the specialty chemicals market are Dymax Corporation, BASF SE, Evonik Industries, Albemarle Corporation, and Ferro Corporation. Economic cycles in different regions are anticipated to encourage most companies to focus on monitoring industrial output, production level, housing starts, and railcar loadings to create effective business expansion strategies.

Grand View Research has segmented the global specialty chemicals market on the basis of product, application, and region:

Specialty Chemicals Product Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 – 2025)

  • CASE

  • Agrochemicals

  • Electronic Chemicals

  • Construction Chemicals

  • Specialty Polymers & Resins

  • Others

Specialty Chemicals Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 – 2025)

  • Automotive

  • Construction

  • Agriculture

  • Industrial Manufacturing

  • Consumer Goods

  • Others

Specialty Chemicals Regional Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 – 2025)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • Germany

    • France

    • UK

    • Italy

  • Asia Pacific

    • China

    • India

    • Japan

  • Central & South America

    • Brazil

  • Middle East & Africa

    • Saudi Arabia

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About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

For more information: www.grandviewresearch.com/

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