Specialty Chemicals Market to Reach $316.5 Bn, Globally, by 2026 at 5.2% CAGR: Allied Market Research

Surge in research and development activities, development of environment-friendly products, and emerging economies in Asia-Pacific drive the growth of the global specialty chemicals market

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Allied Market Research

Nov 20, 2019, 08:50 ET

PORTLAND, Oregon, Nov. 20, 2019 /PRNewswire/ -- Allied Market Research published a report, titled, "Specialty Chemicals Market by Type (Food Additives, Cosmetic Chemicals, Water Treatment Chemicals, Textile Chemicals, Construction Chemicals, Paper & Pulp Chemicals, Oil Field Chemicals, and Ink Additives) - Global Opportunity Analysis and Industry Forecast, 2019–2026." According to the report, the global specialty chemicals market garnered $211.2 billion in 2018, and is estimated to garner $316.5 billion by 2026, growing at a CAGR of 5.2% from 2019 to 2026.

Prime determinants of growth

Surge in research and development activities, development of environment-friendly products, and emerging economies in Asia-Pacific drive the growth of the global specialty chemicals market. However, varying costs of raw materials and stringent government regulations hinder the market growth. On the other hand, commercialization and industrialization of specialty chemicals create new opportunities in the industry.

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Detailed segmentation

The report on the global specialty chemicals market is segmented based on type and geography. Based on type, food additives, cosmetic chemical, and paper & pulp chemicals segments together contributed nearly half of the global specialty chemicals market in 2018. However, the water treatment chemical segment is expected to become the fastest growing segment throughout the forecast period. This is due to strict government regulations for utilizing water, which in turn, enforced industries and municipal corporations to adopt proper water treatment solutions.

Based on region, Asia-Pacific accounted for the largest market share in 2018, contributing more than one-third of the global specialty chemicals market, and is expected to maintain its dominance in terms of revenue throughout the forecast period. Moreover, this region is estimated to register the largest growth rate, witnessing a CAGR of 5.7% from 2019 to 2026. This is due to rise in demand for specialty chemicals in construction, pulp & paper, water treatment, personal care, and ink additives sectors in the region. North America contributed the second-highest revenue share in 2018 and will maintain its position by 2026. The research also discusses the regions such as Europe and LAMEA.

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Market players grabbing the largest pie

BASF SE
The Dow Chemical Co.
Bayer AG
AkzoNobel N.V.
Huntsman Corporation
Chemtura Corporation
Rhodia S.A.
Clariant AG
Evonik Industries AG
Novozymes A/S

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About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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