Specialty Chemicals Market

Market Leader - Specialty Chemicals Market

In terms of value, the specialty chemicals market is estimated to grow from USD 272.6 billion in 2022 to USD 364.8 billion by 2028, at a CAGR of 5.0%. Specialty chemicals, which are also known as performance chemicals are used as ingredients in various finished products to enhance their performance. Specialty chemicals is a whole ecosystem consisting of multiple chemicals within the category. In this report we have considered different specialty chemicals such as plastic additives, rubber additives, adhesives, cosmetic ingredients, lubricating oil additives, specialty oilfield chemicals, water treatment chemicals, electronic chemicals, textile chemicals, and advanced ceramic chemicals.

The key players profiled in the report include BASF SE (Germany), DOW Inc. (US), Nouryon (The Netherlands), LANXESS AG (Germany), Evonik Industries AG (Germany), Huntsman Corporation (US), Covestro AG (Germany), Clariant AG (Switzerland), Solvay S.A. (Belgium), and Arkema (France). The specialty chemicals market is witnessing growth in the past few years; new technologies drive the growth of this market. Market players are introducing new technologies and features to acquire larger market shares.

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BASF SE is among the largest chemicals-producing companies across the globe. The company operates through seven business segments: chemical, materials, industrial solutions, surface technologies, nutrition & care, agricultural solutions and others. BASF SE offers specialty chemicals through its performance chemicals subsegment under the industrial solutions business segment. The company offers various types of water treatment chemicals such as coagulants & flocculants, corrosion inhibitors, defoamers, biocides, and antiscalants & dispersants under different brand names including Magnafloc, Basocorr, Solutrix, and Alcomer.  BASF SE operates in more than 90 countries through its subsidiaries. The company primarily operates in Europe and has significant presence in the North America and Asia Pacific regions. The company also has a strong manufacturing presence with more than 232 production sites worldwide in the regions of Europe, Asia Pacific, North America, South America and Middle East & Africa.

Evonik Industries AG, is a German multinational specialty chemicals company headquartered in Essen, Germany. Evonik operates in a variety of industries including chemical, energy, nutrition, and health. The company operates through five business segments: smart materials, specialty additives, nutrition & care, performance materials, and technology & infrastructure. The company offers its specialty chemicals under the specialty additives and nutrition & care segments. Specialty additives were previously categorized under the resource efficiency segment, but since 1st July 2019, the company introduced a new corporate structure and reclassified the segments. The company has its presence in over 100 countries, along with 104 production facilities in 27 countries and has a major presence in Europe, Asia Pacific, North America, Central and South America, and the Rest of Europe.

Related Reports:

Specialty Chemicals Market by Type (Plasticizers, Water-Based, Coagulants and Flocculants, Scale Inhibitors), Application (Paper and Packaging, Automotive, Consumer Goods, Construction), and Region– Global Forecast to 2028

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MarketsandMarkets™ INC.
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Specialty Chemicals Market Size,  Share & Growth Report
Report Code
CH 3510
RI Published ON
6/13/2023
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