Specialty Chemicals Market by End-user and Geography - Forecast and Analysis 2021-2025

The specialty chemicals market share is expected to increase by USD 155.04 billion from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 3.41%.

This specialty chemicals market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers specialty chemicals market segmentation by end-user (agrochemicals, lubricant and oilfield chemicals, adhesives and sealants, industrial and institutional cleaners, and others) and geography (APAC, North America, Europe, South America, and MEA). The specialty chemicals market report also offers information on several market vendors, including Albemarle Corp., BASF SE, Clariant International Ltd., Dow Inc., Evonik Industries AG, Henkel AG and Co. KGaA, Huntsman Corp., Nouryon Chemicals Holding BV, Saudi Basic Industries Corp., and Solvay SA among others.

What will the Specialty Chemicals Market Size be During the Forecast Period?

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Specialty Chemicals Market: Key Drivers and Challenges

Based on our research output, there has been a neutral impact on the market growth during and post COVID-19 era. The increasing demand for specialty chemicals from the agrochemical industry is notably driving the specialty chemicals market growth, although factors such as stringent regulations and policies may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the specialty chemicals industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Specialty Chemicals Market Driver

One of the key factors driving growth in the specialty chemicals market is the increasing demand for specialty chemicals from the agrochemical industry. The growing world population and the declining arable land are impacting the agriculture industry. Therefore, the limited availability of arable land is leading to an increase in the focus on raising crop yields to support the rapidly growing world population. The lack of proper food storage infrastructure and the inefficient distribution of food grains have made it necessary to increase crop yields. To meet this requirement, specialty chemical companies are developing various yield-enhancing agrochemicals. The demand for these agrochemicals is rising, which is driving the growth of the global specialty chemicals market. Rural areas in the emerging untapped markets, such as India and China, have high growth potential. The rising demand for food and the decreasing amount of land for crop cultivation, especially in developing countries, will propel the use of agrochemicals for the improvement of farm yields and the reduction of crop loss during the forecast period.

Key Specialty Chemicals Market Challenge

The stringent regulations and policies will be a major challenge for the specialty chemicals market during the forecast period. Stringent regulations by the US EPA and the Registration, Evaluation, Authorisation, and Restriction of Chemicals (REACH) on the volatile organic compound (VOC) content of specialty chemicals, such as specialty paints and coatings, adhesives, and sealants, are a significant challenge to the growth of the global specialty chemicals market. 

This specialty chemicals market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Who are the Major Specialty Chemicals Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

• Albemarle Corp.
• BASF SE
• Clariant International Ltd.
• Dow Inc.
• Evonik Industries AG
• Henkel AG and Co. KGaA
• Huntsman Corp.
• Nouryon Chemicals Holding BV
• Saudi Basic Industries Corp.
• Solvay SA

This statistical study of the specialty chemicals market encompasses successful business strategies deployed by the key vendors. The specialty chemicals market is fragmented and the vendors are deploying growth strategies such as forming strategic partnerships to compete in the market.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The specialty chemicals market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

Which are the Key Regions for Specialty Chemicals Market?

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62% of the market’s growth will originate from APAC during the forecast period. China, Japan, and South Korea (Republic of Korea) are the key markets for specialty chemicals in APAC. Market growth in this region will be faster than the growth of the market in the European, MEA, and North American regions.

The rapid industrialization and the increasing demand for agrochemicals, plastic additives, food additives, and adhesives and sealants will facilitate the specialty chemicals market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

What are the Revenue-generating End-user Segments in the Specialty Chemicals Market?

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The specialty chemicals market share growth by the agrochemicals segment will be significant during the forecast period. The growth of modern-day cultivation such as floriculture and horticulture, increasing literacy among farmers, and the rising awareness about the use of pesticides and fertilizers in major agriculture-focused countries are driving the growth of the agrochemicals segment. 

This report provides an accurate prediction of the contribution of all the segments to the growth of the specialty chemicals market size and actionable market insights on post COVID-19 impact on each segment.

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What are the Key Data Covered in this Specialty Chemicals Market Report?

• CAGR of the market during the forecast period 2021-2025
• Detailed information on factors that will drive specialty chemicals market growth during the next five years
• Precise estimation of the specialty chemicals market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the specialty chemicals industry across APAC, North America, Europe, South America, and MEA
• A thorough analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of specialty chemicals market vendors

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