U.S. Specialty Chemicals Market Size & Outlook, 2023-2030
U.S. specialty chemicals market, 2018-2030 (US$B)
Related Markets
U.S. specialty chemicals market highlights
- The U.S. specialty chemicals market generated a revenue of USD 117.7 billion in 2023 and is expected to reach USD 142.8 billion by 2030.
- The U.S. market is expected to grow at a CAGR of 2.8% from 2024 to 2030.
Specialty chemicals market data book summary
| Market revenue in 2023 | USD 117.7 billion |
| Market revenue in 2030 | USD 142.8 billion |
| Growth rate | 2.8% (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, U.S. accounted for 18.4% 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.
The growing demand for food & beverage products in the country is expected to bolster the demand for food additives. According to a report by the U.S. Committee for Economic Development, the food and beverage industry comprises approximately 27,000 companies. This sector contributed nearly 5% to the Gross Domestic Product (GDP) of U.S.
Future growth opportunities are expected to exist in various application segments, including water treatment, automobile, as well as the electronics market. Furthermore, rising demand for detergents, personal care products, cleaning products, and crop protection chemicals is expected to fuel the demand for specialty chemicals over the forecast period.
The major growth driver of the global specialty chemicals market is the rising demand for consumer electronics goods across the country. The growth of consumer electronics is increasing the consumption of semiconductor devices for advanced processes, which are used in communications, transportation, computing, defense, healthcare, clean energy, and emerging technologies, such as flat panel displays, leading to an increase in demand for the specialty chemicals market.
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Specialty Chemicals Market Scope
Specialty Chemicals Market Companies
| Name | Profile | # Employees | HQ | Website |
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U.S. specialty chemicals market size, by product type, 2018-2030 (US$B)
U.S. Specialty Chemicals Market Outlook Share, 2023 & 2030 (US$B)
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