Global Speciality Chemicals Market Comprehensive Study: Forecasted Market Size And Growth Rate | Solvay S.A., Evonik Industries AG, Clariant AG, Akzo Nobel N.V., BASF SE, Lanxess AG, Huntsman Corporation, Bayer AG, The Dow Chemical Company

The Business Research Company has updated its global market reports, featuring the latest data for 2024 and projections up to 2708

The Business Research Company offers in-depth market insights through Speciality Chemicals Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.

Market Size And Growth Forecast:
The speciality chemicals market size has grown steadily in recent years. It will grow from $740.03 billion in 2023 to $774.96 billion in 2024 at a compound annual growth rate (CAGR) of 4.7%. The growth in the historic period can be attributed to supply chain optimization, focus on sustainability, globalization and market expansion, consumer demand and lifestyle changes, customization and tailored solutions, industry diversification..

The speciality chemicals market size is expected to see steady growth in the next few years. It will grow to $937.28 billion in 2028 at a compound annual growth rate (CAGR) of 4.9%. The growth in the forecast period can be attributed to resilience and adaptability, smart manufacturing and industry 4.0, demand for specialized performance chemicals, globalization and market expansion, shift towards eco-friendly solutions.. Major trends in the forecast period include packaging innovations, demand in automotive sector, water treatment and environmental solutions, adhesives and coatings solutions, consumer goods and personal care..

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Market Segmentation:
The speciality chemicals market covered in this report is segmented -

1) By Product Type: Agrochemicals, Dyes and Pigments, Construction Chemicals, Speciality Polymers, Textile Chemicals, Base Ingredients, Surfactants, Functional Ingredients, Water Treatments
2) By Source: Crude Oil, Naphtha, Ethane, Propane, Butane, Wood
3) By End-Use: Industrial, Construction, Cosmetics and Personal Care, Pharmaceutical, Electrical and Electronics, Mining and Oilfield

Major Driver - High-Performance Coatings Drive Growth In Specialty Chemicals Market
Increasing demand for high-performance coatings is expected to drive the growth of the specialty chemicals market going forward. High-performance coatings refer to the final two categories of protective coatings, which are specialized and specifically engineered to add to the structural integrity, soundness, and health impacts of buildings, building sites, and structures. High-performance coatings incorporate specialty chemicals to provide additional protection against environmental conditions such as moisture, high temperature, and airflow that have a huge impact on coatings and can have an impact on both interior and exterior spaces. For instance, in July 2022, The Sherwin-Williams Company, a US-based paint, and coating manufacturing company, announced its financial results for the second quarter, in which the combined net sales of paints and coats were $5.87 billion, a 9.2% increase over the previous quarter. The use of high-performance coatings by professional architects in coil and packaging operations was a major contributor to the increase in consolidated net sales. Therefore, the increasing demand for high-performance coatings is expected to propel the growth of the specialty chemicals market in the coming years.

Competitive Landscape:
Major companies operating in the speciality chemicals market report are Solvay S.A., Evonik Industries AG, Clariant AG, Akzo Nobel N.V., BASF SE, Lanxess AG, Huntsman Corporation, Bayer AG, The Dow Chemical Company, Ashland Global Holdings Inc., Kemira Oyj, Croda International Plc., Lubrizol Corporation, Henkel AG & Co. KGaA, Sasol Limited, 3M Company, H.B. Fuller Company, Nouryon Holding B.V., Sumitomo Chemical Co. Ltd., African Explosives and Chemical Industries Limited., Air Products and Chemicals Inc., Albemarle Corporation, Archroma India Private Limited, Arkema Group, Ashland LLC, Asian Paints Limited, Axalta Coating Systems LLC, Baker Hughes Company, British Paints Limited, Buckman Laboratories International Inc., Chevron Corporation, Covestro AG, DIC Corporation, Koninklijke DSM N.V. .

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Top Trend - Product Innovation Surges In Specialty Chemicals Market
Product innovation is a key trend that is gaining popularity in the specialty chemicals market. Major companies operating in the specialty chemicals market are focused on research and development for product innovations to offer additional benefits and assist in a better yield. Such product innovations enable companies to gain a competitive edge in the market. For instance, in September 2022, P2X-Europe GmbH & Co. KG, a Germany-based joint venture between H&R and Mabanaft, launched SynZero, synthesis-based specialty chemical products, and e-fuels. SynZero products are functionally and chemically comparable to petroleum fuels, and they eliminate some undesired features of the production and use of fossil fuels, including greenhouse gas (GHG) pollutant emissions. It can replace traditional hydrocarbons made from fossil materials without any inconvenience for the consumer by offering innovative mobility solutions with reduced CO2 emissions.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Speciality Chemicals Market Characteristics
3. Speciality Chemicals Market Trends And Strategies
4. Speciality Chemicals Market - Macro Economic Scenario
5. Speciality Chemicals Market Size And Growth
…..
27. Speciality Chemicals Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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