Press release
Speciality Chemicals Market Size, Share Analysis, Industry Insights, Growth, And Forecast To 2033
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..
Market Overview -
Specialty chemicals, also known as effect chemicals, are chemical products that offer a wide range of effects and are used by numerous other industrial sectors.
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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. .
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.
Browse Full Report @
https://www.thebusinessresearchcompany.com/report/speciality-chemicals-global-market-report
Key Segments -
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
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
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Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
Want To Know More About The Business Research Company?
The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialise in various industries including manufacturing, healthcare, financial services, chemicals, and technology.
Global Market Model - World's Most Comprehensive Database
The Business Research Company's flagship product, Global Market Model (www.thebusinessresearchcompany.com/global-market-model) is a market intelligence platform covering various macroeconomic indicators and metrics across 60 geographies and 27 industries. The Global Market Model covers multi-layered datasets which help its users assess supply-demand gaps
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..
Market Overview -
Specialty chemicals, also known as effect chemicals, are chemical products that offer a wide range of effects and are used by numerous other industrial sectors.
Download Free Sample of Report -
https://www.thebusinessresearchcompany.com/sample.aspx?id=9026&type=smp
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. .
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.
Browse Full Report @
https://www.thebusinessresearchcompany.com/report/speciality-chemicals-global-market-report
Key Segments -
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
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
Want To Know More About The Business Research Company?
The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialise in various industries including manufacturing, healthcare, financial services, chemicals, and technology.
Global Market Model - World's Most Comprehensive Database
The Business Research Company's flagship product, Global Market Model (www.thebusinessresearchcompany.com/global-market-model) is a market intelligence platform covering various macroeconomic indicators and metrics across 60 geographies and 27 industries. The Global Market Model covers multi-layered datasets which help its users assess supply-demand gaps
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