According to TechSci Research report, “Global Specialty Chemicals Market By Type, By Function, By Region, Competition, Forecast & Opportunities, 2024’’, the global specialty chemicals market is projected to grow at a CAGR of around 5% during the forecast period. The market for specialty chemicals is further anticipated to grow in the coming years on account of growing application of these chemicals in various end-user industries.
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In terms of regions, specialty chemicals market can be segmented into Asia-Pacific, North America, South America, Middle East & Africa and Europe. In 2018, Asia-Pacific dominated the market and the region is expected to continue its dominance during forecast period as well. This is due to the high economic growth, low labor cost and growing industrialization in economies such as India, China, among others, in the region.
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TechSci Research calculated global specialty chemicals market size using a top-down approach, wherein data for various end-user segments was recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size.
Key Target Audience:
Specialty Chemicals Market Size, 2024
Key Market Players:
Specialty chemicals market are Albemarle Corporation, Ashland Inc., BASF SE, Lanxess Aktiengesellschaft, Clariant AG, Evonik Industries AG, Henkel AG & Co. KGAA, Solvay SA among others.