U.S. Specialty Chemicals Market Size & Outlook, 2023-2030

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.