Asia Pacific Specialty Chemicals Market Size & Outlook
Asia Pacific specialty chemicals market, 2018-2030 (US$B)
Related Markets
Asia Pacific specialty chemicals market highlights
- The Asia Pacific specialty chemicals market generated a revenue of USD 316.6 billion in 2023.
- The market is expected to grow at a CAGR of 7.1% from 2024 to 2030.
- Country-wise, China is expected to register the highest CAGR from 2024 to 2030.
Asia Pacific data book summary
| Market revenue in 2023 | USD 316.6 billion |
| Market revenue in 2030 | USD 510.6 billion |
| Growth rate | 7.1% (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 | |
| Key market players worldwide | Solvay SA, Evonik Industries AG, Clariant AG, Akzo Nobel NV, DuPont de Nemours Inc, Kemira Oyj, Lanxess AG, Croda International PLC, Huntsman Corp, The Lubrizol Corp, Albemarle Corp |
Other key industry trends
- In terms of revenue, Asia Pacific region accounted for 49.4% of the global specialty chemicals market in 2023.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 510.6 billion by 2030.
In Asia Pacific, countries like India and China are poised to lead growth in nutraceutical industry owing to the long history of using herbal products for treating diseases and maintaining health. China and Japan are among the largest markets for nutraceuticals in the region. The food additives market has witnessed healthy growth in the region, aiding the specialty chemicals market in the region.
THe increased use in pharmaceutical and nutraceutical products in Australia and South Korea owing to the expanding market of beverages and functional foods in these countries are also acting as major driver for the specialty chemicals market. Asia Pacific is one of the fastest-growing regions in the world, in terms of economic progress, industrialization, and growth of major end-use sectors.
China and India are the major countries contributing to the growth of the specialty chemicals market in Asia Pacific. The demand for additives in the region is influenced by food & beverage, personal care & cosmetics, & pharmaceutical industries. China, India, and Japan are the key manufacturing countries in the region, with China as the manufacturing leader.
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Specialty Chemicals Market Scope
Specialty Chemicals Market Companies
| Name | Profile | # Employees | HQ | Website |
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Asia Pacific specialty chemicals market size, by country, 2018-2030 (US$B)
Asia Pacific Specialty Chemicals Market Outlook Share, 2023 & 2030 (US$B)
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