The specialty chemicals market is anticipated to exhibit a CAGR of 4.9% during the forecast period. The growing use of specialty chemicals in the end-user industries is a key factor driving the global specialty chemical market. Cement manufacturing, concrete production, corrosion inhibition, coating, and paints are the key applications of specialty chemicals in the construction industry. In cement production, specialty chemicals are used as a combustion agent, fuels, gypsum, and set controller. In concrete, these are used to prepare chemical admixture and super plasticizers such as RMC, SCC, and RPC. As a corrosion inhibitor, they are used as accelerator, retarders, and freeze-thaw agents.
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The outlook of the construction industry appears upbeat, consequently increasing the demand for specialty chemicals, globally. According to a study by the Institution of Civil Engineers (ICE), the global construction industry is expected to reach a value of $8.0 trillion by 2030, primarily driven by China, India, and the US. In Europe, the construction industry has witnessed a solid growth rate and is estimated to record significant growth in the next few years. Hence, from the rapidly growing construction activities in the above countries, the demand for specialty chemicals will increase which in turn will drive the growth of the global specialty chemical market.
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Market Coverage
Market number available for – 2019-2026
Base year- 2019
Forecast period- 2020-2026
Segment Covered- By Product Type
Regions Covered- North America, Europe, Asia-Pacific, Rest of the World
Competitive Landscape- SABIC, BASF SE, Bayer AG, Eastman Chemical Co., Evonik Industries AG
Global Specialty Chemicals Market report Segment
By Product Type
Agrochemicals
Cleaning Chemicals
Construction Chemicals
Electronic Chemicals
Food Additives
Adhesive & Sealants
Specialty Coatings
Surfactants
Paper & Textile Chemicals
Lubricants & Oilfield Chemicals
Polymers & Plastic Additives
Others
Global Specialty Chemicals Market report Segment
North America
United States
Canada
Europe
Germany
United Kingdom
France
Spain
Italy
Rest of Europe
Asia-Pacific
China
Japan
India
Rest of Asia-Pacific
Rest of the World
Middle East & Africa
Latin America
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