Canada Specialty Chemicals Market Size & Outlook
Canada specialty chemicals market, 2018-2030 (US$B)
Related Markets
Canada specialty chemicals market highlights
- The Canada specialty chemicals market generated a revenue of USD 25.7 billion in 2023 and is expected to reach USD 33.4 billion by 2030.
- The Canada market is expected to grow at a CAGR of 3.8% from 2024 to 2030.
Specialty chemicals market data book summary
| Market revenue in 2023 | USD 25.7 billion |
| Market revenue in 2030 | USD 33.4 billion |
| Growth rate | 3.8% (CAGR from 2023 to 2030) |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 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, Canada accounted for 4.0% of the global specialty chemicals market in 2023.
- Country-wise, China is expected to lead the global market in terms of revenue in 2030.
- In North America, U.S. specialty chemicals market is projected to lead the regional market in terms of revenue in 2030.
- Canada is the fastest growing regional market in North America and is projected to reach USD 33.4 billion by 2030.
Sales of semiconductors in China are majorly driven by the increasing demand from the electronics industry. A push to grow the market by the government as well as a surge in demand for semiconductors for cellphones and laptops, solar cells is expected to propel the electronic chemicals market over the coming years.
The automotive industry is anticipated to witness a high growth rate in the country, as the new era of digitalization in the industry has prompted sales of intelligent & connected cars with highly integrated system technology that provides greater safety as well as comfort features for consumers. The market in Canada is expected to exhibit an increased demand for lubricating oil additives, due to their use in various end-user industries, such as automobiles, chemical processing, and industrial processes.
In the automotive industry, lubricants are used to boost engine performance and help enhance the life of engines used in automotive vehicles. Lubricants are expected to benefit from the rise in highmaintenance automobiles, especially in Canada, as consumers are increasingly opting for advanced passenger cars. These factors are anticipated to propel the consumption of additives, adhesives, and composites in automotive applications that are necessary to enhance the performance of the vehicle.
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Specialty Chemicals Market Scope
Specialty Chemicals Market Companies
| Name | Profile | # Employees | HQ | Website |
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Canada specialty chemicals market size, by product type, 2018-2030 (US$B)
Canada Specialty Chemicals Market Outlook Share, 2023 & 2030 (US$B)
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