Specialty Chemicals Market To Reach USD 963.84 Billion By 2032: Reports and Data
The global specialty chemicals market size was USD 616 Billion in 2022 and is expected to register a revenue CAGR of 5.1% over the forecast period, according to the latest report by Reports and Data.
The increasing usage of high-performance chemicals in a variety of end-use sectors such as construction, automotive, and electronics is boosting market revenue growth. The demand for items that can meet the special standards of these sectors, such as resistance to extreme temperatures, chemical resistance, and durability, is driving up the usage of high-performance chemicals. As a result, specialized chemicals are increasingly being used to produce speciality polymers, electronic chemicals, and high-performance materials and coatings.
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Market Scenario:
The materials and chemicals sector has significantly grown over the recent years and is expected to register robust revenue CAGR over the forecast period. The materials and chemicals sector comprises daily wear products such as detergents, perfumes, soaps, and other raw materials and chemicals used in the manufacturing of other products. There has been a significant increase in the demand for raw materials and chemicals across various industrial sectors such as healthcare and pharmaceuticals, automotive, agriculture, manufacturing, paint, and food and beverages among others. Factors such as increasing awareness about green energy and excess carbon emission, changing consumer preference, growing adoption of biodegradable, sustainable and eco-friendly products, and rapidly expanding industries and building and construction sector are expected to boost global market revenue growth going ahead.
Major Companies:
· BASF SE
· Solvay S.A.
· Evonik Industries AG
· Clariant AG
· AkzoNobel N.V.
· Covestro AG
· Arkema S.A.
· Albemarle Corporation
· Lanxess AG
· Dow Inc.
Competitive Landscape:
The report further sheds light on the competitive landscape and provides in depth information about each market player including its global position, product portfolio, financial standing, revenue growth and company overview. The market players are focused on adopting various inorganic and organic growth strategies such as mergers and acquisitions, joint ventures, collaborations, product launches and partnerships to gain a robust footing in the market.
Key questions addressed in the report:
· What is the expected market size of the global Specialty Chemicals market during the forecast period?
· What CAGR is the global market expected to register during the forecast period?
· Which key factors are expected to boost global market growth between 2021 and 2028?
· What are the key restraints that are expected to hamper global market growth?
· Which regional market is expected to register robust CAGR during the forecast period?
· Which key players are operating the global Specialty Chemicals market?
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Specialty Chemicals Market Segmentation:
Type Outlook:
· Agrochemicals
· Polymers & Plastic Additives
· Electronic Chemicals
· Construction Chemicals
· Specialty Coatings
· Food Additives
· Surfactants
· Others
End-use Outlook:
- Automotive
- Construction
- Agriculture
- Electronics
- Consumer Goods
- Others
Regional Outlook:
· North America
o U.S.
o Canada
o Mexico
· Europe
o Germany
o U.K.
o Italy
o France
o BENELUX
o Rest of Europe
· Asia Pacific
o China
o India
o Japan
o South Korea
o Rest of APAC
· Latin America
o Brazil
o Rest of LATAM
· Middle East & Africa
o Saudi Arabia
o U.A.E.
o South Africa
o Rest of MEA
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