Global Specialty Chemicals Market Size & Outlook
Global specialty chemicals market, 2018-2030 (US$B)
Related Markets
Global specialty chemicals market highlights
- The global specialty chemicals market generated a revenue of USD 641.5 billion in 2023 and is expected to reach USD 914.4 billion by 2030.
- The market is expected to grow at a CAGR (2024 - 2030) of 5.2% by 2030.
- In terms of region, Asia Pacific was the largest revenue generating market in 2023.
- Country-wise, UK is expected to register the highest CAGR from 2024 to 2030.
Global data book summary
| Market revenue in 2023 | USD 641.5 billion |
| Market revenue in 2030 | USD 914.4 billion |
| Growth rate | 5.2% (CAGR from 2023 to 2030) |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD billion |
| Market segmentation |
Other key industry trends
- In terms of revenue, the North America accounted for 22.4% of the global specialty chemicals market in 2023.
- By country, the China is projected to lead the global market in terms of revenue in 2030.
- By country, UK is the fastest growing regional market and is projected to reach USD 27.9 billion by 2030.
The growth is highly consumer-driven, led by categories such as electronics chemicals, personal electronics, and pharmaceuticals, among others. Increasing demand for processed food beverages in the developed countries has driven the demand for flavoring agents. Chemicals such as sodium hypochlorite, hydrochloric acid, and others are widely employed in the manufacturing of industrial and institutional cleaners.
Growing use of these cleaners in various industries is expected to have a positive impact on the market over the forecast period. Pharmaceutical additives are employed in Over the Counter (OTC) drug production, and other pharmaceutical products to impart specific qualities in the productions. They find application in various end-use industries such as personal care products, cosmetics, and others. Continuous growth in these sectors is expected to benefit industry participants.
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Specialty Chemicals Market Scope
Specialty Chemicals Market Companies
| Name | Profile | # Employees | HQ | Website |
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Global specialty chemicals market size, by region, 2018-2030 (US$B)
Top 10 countries: Specialty chemicals market size, 2023 (US$B)
Global specialty chemicals market share, by product type, 2023 & 2030 (%, US$B)
Specialty chemicals market: Opportunity assessment by country
Global specialty chemicals market, by region, 2023 (US$B)
Related regional statistics
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