Specialty Chemicals Market - Growth, Trends, and Forecast (2019 - 2024)

The market is segmented by Adhesives & Sealants - By Technology, Catalysts - by Function, Construction Chemicals - by Application, Cosmetic Chemicals - by Application, Dyes, Inks, and Pigments - by Type, Electronic Chemicals - by Application, Flavors & Fragrances - by Type, Food Additives - by Type, Foundry Chemicals - by Application, Industrial and Institutional Cleaners - by Application, Lubricants and Oil Additives - by Product Type, Mining Chemicals - by Function, Oilfield Chemicals - by Chemical Type, Paints and Coatings - by Application, Plastic Additives - by Plastic Type, Rubber Processing Chemicals - by Application, Specialty Polymers - by Type, Textile Chemicals - by Application, Water Treatment Chemicals - by Function. and Geography

Market Snapshot

Specialty Chemicals Market - Market Summary
Study Period:

2016-2024

Base Year:

2018

Fastest Growing Market:

Asia Pacific

Largest Market:

Asia Pacific

Key Players:

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Market Overview

The market for specialty chemicals is expected to grow at a CAGR of around 5.17% during the forecast period of 2019 – 2024. The major factors driving the growth of the market studied are its robust growth of construction activities, especially in Asia-Pacific and Middle East & Africa regions, and growth of oil exploration & production activities. On the flip side, increasing environmental regulation, and reducing fossil fuel reserves are the restraints hampering the growth of the studied market.

  • Paints & coatings dominated the specialty chemicals market in 2018 and is expected to grow during the forecast period with the robust growth in the construction industry, which is majorly driven by the growth in residential construction across the globe.
  • Growing research & development for developing new products is likely to provide opportunity for the studied market over the forecast period.
  • Asia-Pacific dominated the market across the globe owing to huge customer base leading to high demand for specialty chemicals, increasing industrial production, and robust growth of the construction sector in the region.

Scope of the Report

The global specialty chemicals market report include:

Adhesives and Sealants - by Technology
Water-borne Adhesives
Solvent-borne Adhesives
Hot-melt Adhesives
Reactive Adhesives
Sealants
Catalysts - by Function
Chemical Synthesis Catalysts
Petroleum Refining Catalysts
Polymerization Catalysts
Construction Chemicals - by Application
Commercial
Industrial
Infrastructure
Residential
Public Space
Cosmetic Chemicals - by Application
Hair Care
Skin Care
Oral Care
Personal Hygiene
Other Applications
Dyes, Inks, and Pigments - by Type
Inks
Dyes
Organic Pigments
Inorganic Pigments
Electronic Chemicals - by Application
Semiconductors and Integrated Circuits
Printed Circuit Boards
Flavors & Fragrances - by Type
Flavors
Fragrances
Food Additives - by Type
Natural Additives
Synthetic Additives
Foundry Chemicals - by Application
Iron and Steel
Non-ferrous Metals
Industrial and Institutional Cleaners - by Application
General Purpose Cleaners
Floor Care Products
Ware-washing Detergents
Disinfectants and Sanitizers
Laundry Care Products
Vehicle Wash Products
Hand Cleansers
Lubricants and Oil Additives - by Product Type
Dispersants and Emulsifiers
Detergents
Oxidation Inhibitors
Extreme-pressure Additives and Anti-wear Additives
Viscosity Index Modifiers
Friction Modifiers
Corrosion Inhibitors
Other Product Types
Mining Chemicals - by Function
Flotation Chemicals
Extraction Chemicals
Grinding Aids
Oilfield Chemicals - by Chemical Type
Biocides
Corrosion and Scale Inhibitors
Demulsifiers
Polymers
Paints and Coatings - by Application
Architectural
Automotive
Industrial
Wood
Other Applications
Plastic Additives - by Plastic Type
Polyethylene
Polystyrene
Polypropylene
Polyamide
Polyethylene Terephthalate
Polyvinyl Chloride
Polycarbonate
Other Plastic Types
Rubber Processing Chemicals - by Application
Tire
Non-tire
Specialty Polymers - by Type
Specialty Elastomers
Specialty Composites
Specialty Thermoplastics
Specialty Thermosets
Textile Chemicals - by Application
Apparels
Automotive Textiles
Geo-textiles
Home Furnishing
Industrial Textiles
Smart-textiles for Military and Defense
Water Treatment Chemicals - by Function
Flocculants
Coagulants
Biocides and Disinfectants
Defoamers and Defoaming Agents
pH Adjusters and Softeners
Odor Control Agents
Other Functions
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

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Key Market Trends

Paints & Coatings Segment to Dominate the Market Demand

  • Paints & coatings segment dominated the share in the specialty chemicals market in 2018. The growth of the segment is extensively driven by the robust performance of the construction industry across the globe.
  • Asia-Pacific and Middle East regions are expected to witness huge demand for paints & coatings, owing to significant investments coming into the construction sector.
  • In Asia-Pacific, the construction sector growth is majorly driven by rising in residential construction projects to meet the accommodation requirements of the growing population.
  • Middle-East & Africa, on the other hand, has been witnessing huge rise in industrial & institutional construction. Middle Eastern countries, such as Saudi Arabia, United Arab Emirates, and Qatar have been trying to expand its tourism, healthcare, and manufacturing industry, with an intention to reduce their economic dependency on oil & gas industry.
  • Besides, increasing renovation projects in North America and the recovery of construction activities in Europe are further likely to drive the growth of the global construction industry.
  • Hence, all these such favorable trends in the global construction sector are expected to drive the demand and growth of paints & coating market during the forecast period. This is in-turn expected to drive the demand for specialty chemicals market.
Specialty Chemicals Market - Segmentation

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Asia-Pacific Region to Dominate the Market

  • Asia-Pacific region dominated the specialty chemicals market in 2018, and is further likely to retain its position during the forecast period due to robust growth of construction sector, increasing demand for cosmetic products, growing investment and production in automotive industry, increasing electrical & electronics industry output, increasing demand for adhesives and plastic from packaging industry, and increasing installations of water treatment systems from the industries in the region.   
  • Asia-Pacific construction sector growth is majorly driven by the expansion of service sector leading to increase in the demand for office spaces, increase in residential construction projects, and inflow of investments from multi-national companies to set up industrial base in the region. Such factors are likely to increase in the demand for paints & coatings, adhesives & sealants, construction chemicals, and specialty polymers in the region during the forecast period.
  • The cosmetic industry is also witnessing strong growth in demand in the region, which is fueled by the increased usage of cosmetic products due to rising demand for anti-aging cosmetic products from baby boomers and X generation, western culture influence on youth, increased women employment, and continuous innovation of products attracting the masses. This is, in turn, increasing the cosmetic production in the region, leading to rise in demand for cosmetic chemicals.
  • Automotive industry in the region is further witnessing increase in investments and production in countries, like India, Indonesia, Thailand, and Malaysia. Such investments are leading to increase in automotive production base in the region, which is further projected to increase the demand for adhesives & sealants, paints & coatings, specialty polymers, and textile chemicals in the coming years, for automotive applications.
  • Hence, all such favorable trends are collectively likely to drive the growth of specialty chemicals market in the region during the forecast period.
Specialty Chemicals Market - Regional Trends

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Competitive Landscape

The specialty chemicals market is a highly fragmented market, where numerous players hold an insignificant share of the market. Some of the noticeable players in the market include 3M, BASF SE, H.B. Fuller, Huntsman International LLC, and Henkel AG & Co. KGaA, amongst others.

Major Players

  1. 3M
  2. BASF SE
  3. H.B. Fuller
  4. Huntsman International LLC
  5. Henkel AG & Co. KGaA

* Complete list of players covered available in the table of contents below

Specialty Chemicals Market - Market Concentration

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

    2. 4.2 Restraints

    3. 4.3 Industry Value-Chain Analysis

    4. 4.4 Porters 5 Force Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

    5. 4.5 Price Analysis

  5. 5. MARKET SEGMENTATION

    1. 5.1 Adhesives and Sealants - by Technology

      1. 5.1.1 Water-borne Adhesives

      2. 5.1.2 Solvent-borne Adhesives

      3. 5.1.3 Hot-melt Adhesives

      4. 5.1.4 Reactive Adhesives

      5. 5.1.5 Sealants

    2. 5.2 Catalysts - by Function

      1. 5.2.1 Chemical Synthesis Catalysts

      2. 5.2.2 Petroleum Refining Catalysts

      3. 5.2.3 Polymerization Catalysts

    3. 5.3 Construction Chemicals - by Application

      1. 5.3.1 Commercial

      2. 5.3.2 Industrial

      3. 5.3.3 Infrastructure

      4. 5.3.4 Residential

      5. 5.3.5 Public Space

    4. 5.4 Cosmetic Chemicals - by Application

      1. 5.4.1 Hair Care

      2. 5.4.2 Skin Care

      3. 5.4.3 Oral Care

      4. 5.4.4 Personal Hygiene

      5. 5.4.5 Other Applications

    5. 5.5 Dyes, Inks, and Pigments - by Type

      1. 5.5.1 Inks

      2. 5.5.2 Dyes

      3. 5.5.3 Organic Pigments

      4. 5.5.4 Inorganic Pigments

    6. 5.6 Electronic Chemicals - by Application

      1. 5.6.1 Semiconductors and Integrated Circuits

      2. 5.6.2 Printed Circuit Boards

    7. 5.7 Flavors & Fragrances - by Type

      1. 5.7.1 Flavors

      2. 5.7.2 Fragrances

    8. 5.8 Food Additives - by Type

      1. 5.8.1 Natural Additives

      2. 5.8.2 Synthetic Additives

    9. 5.9 Foundry Chemicals - by Application

      1. 5.9.1 Iron and Steel

      2. 5.9.2 Non-ferrous Metals

    10. 5.10 Industrial and Institutional Cleaners - by Application

      1. 5.10.1 General Purpose Cleaners

      2. 5.10.2 Floor Care Products

      3. 5.10.3 Ware-washing Detergents

      4. 5.10.4 Disinfectants and Sanitizers

      5. 5.10.5 Laundry Care Products

      6. 5.10.6 Vehicle Wash Products

      7. 5.10.7 Hand Cleansers

    11. 5.11 Lubricants and Oil Additives - by Product Type

      1. 5.11.1 Dispersants and Emulsifiers

      2. 5.11.2 Detergents

      3. 5.11.3 Oxidation Inhibitors

      4. 5.11.4 Extreme-pressure Additives and Anti-wear Additives

      5. 5.11.5 Viscosity Index Modifiers

      6. 5.11.6 Friction Modifiers

      7. 5.11.7 Corrosion Inhibitors

      8. 5.11.8 Other Product Types

    12. 5.12 Mining Chemicals - by Function

      1. 5.12.1 Flotation Chemicals

      2. 5.12.2 Extraction Chemicals

      3. 5.12.3 Grinding Aids

    13. 5.13 Oilfield Chemicals - by Chemical Type

      1. 5.13.1 Biocides

      2. 5.13.2 Corrosion and Scale Inhibitors

      3. 5.13.3 Demulsifiers

      4. 5.13.4 Polymers

    14. 5.14 Paints and Coatings - by Application

      1. 5.14.1 Architectural

      2. 5.14.2 Automotive

      3. 5.14.3 Industrial

      4. 5.14.4 Wood

      5. 5.14.5 Other Applications

    15. 5.15 Plastic Additives - by Plastic Type

      1. 5.15.1 Polyethylene

      2. 5.15.2 Polystyrene

      3. 5.15.3 Polypropylene

      4. 5.15.4 Polyamide

      5. 5.15.5 Polyethylene Terephthalate

      6. 5.15.6 Polyvinyl Chloride

      7. 5.15.7 Polycarbonate

      8. 5.15.8 Other Plastic Types

    16. 5.16 Rubber Processing Chemicals - by Application

      1. 5.16.1 Tire

      2. 5.16.2 Non-tire

    17. 5.17 Specialty Polymers - by Type

      1. 5.17.1 Specialty Elastomers

      2. 5.17.2 Specialty Composites

      3. 5.17.3 Specialty Thermoplastics

      4. 5.17.4 Specialty Thermosets

    18. 5.18 Textile Chemicals - by Application

      1. 5.18.1 Apparels

      2. 5.18.2 Automotive Textiles

      3. 5.18.3 Geo-textiles

      4. 5.18.4 Home Furnishing

      5. 5.18.5 Industrial Textiles

      6. 5.18.6 Smart-textiles for Military and Defense

    19. 5.19 Water Treatment Chemicals - by Function

      1. 5.19.1 Flocculants

      2. 5.19.2 Coagulants

      3. 5.19.3 Biocides and Disinfectants

      4. 5.19.4 Defoamers and Defoaming Agents

      5. 5.19.5 pH Adjusters and Softeners

      6. 5.19.6 Odor Control Agents

      7. 5.19.7 Other Functions

    20. 5.20 Geography

      1. 5.20.1 Asia-Pacific

        1. 5.20.1.1 China

        2. 5.20.1.2 India

        3. 5.20.1.3 Japan

        4. 5.20.1.4 South Korea

        5. 5.20.1.5 Rest of Asia-Pacific

      2. 5.20.2 North America

        1. 5.20.2.1 United States

        2. 5.20.2.2 Canada

        3. 5.20.2.3 Mexico

      3. 5.20.3 Europe

        1. 5.20.3.1 Germany

        2. 5.20.3.2 United Kingdom

        3. 5.20.3.3 France

        4. 5.20.3.4 Italy

        5. 5.20.3.5 Rest of Europe

      4. 5.20.4 South America

        1. 5.20.4.1 Brazil

        2. 5.20.4.2 Argentina

        3. 5.20.4.3 Rest of South America

      5. 5.20.5 Middle East & Africa

        1. 5.20.5.1 Saudi Arabia

        2. 5.20.5.2 South Africa

        3. 5.20.5.3 Rest of Middle East & Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share Analysis**

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 3M

      2. 6.4.2 A. Schulman Inc.

      3. 6.4.3 Akzo Nobel NV

      4. 6.4.4 Albemarle Corporation

      5. 6.4.5 American Water Chemicals Inc.

      6. 6.4.6 Archroma

      7. 6.4.7 Ashland

      8. 6.4.8 Asian Paints

      9. 6.4.9 Baker Hughes Incorporated

      10. 6.4.10 BASF SE

      11. 6.4.11 Beckers Group

      12. 6.4.12 Berger Paints India Limited

      13. 6.4.13 BWA WATER ADDITIVES

      14. 6.4.14 BP PLC

      15. 6.4.15 Buckman Laboratories International Inc.

      16. 6.4.16 Chevron Corporation

      17. 6.4.17 China Petroleum and Chemical Corporation

      18. 6.4.18 Clariant

      19. 6.4.19 ConocoPhillips Company

      20. 6.4.20 Covestro AG

      21. 6.4.21 Cytec Solvay Group

      22. 6.4.22 Dainichiseika Color and Chemicals Mfg Co. Ltd

      23. 6.4.23 Dow

      24. 6.4.24 DuPont

      25. 6.4.25 DuluxGroup Limited

      26. 6.4.26 Dura Coat Products Inc.

      27. 6.4.27 Eastman Chemical Company

      28. 6.4.28 Ecolab

      29. 6.4.29 Emery Oleochemicals

      30. 6.4.30 Evonik Industries AG

      31. 6.4.31 Exxon Mobil Corporation

      32. 6.4.32 Ferro Corporation

      33. 6.4.33 FMC Corporation

      34. 6.4.34 Formosa Plastics Group

      35. 6.4.35 FUCHS

      36. 6.4.36 GENERAL ELECTRIC

      37. 6.4.37 H.B. Fuller Company

      38. 6.4.38 Halliburton

      39. 6.4.39 Henkel AG & Co. KGaA

      40. 6.4.40 Hexion

      41. 6.4.41 Huntsman International LLC

      42. 6.4.42 Indian Oil Corporation Ltd

      43. 6.4.43 INEOS

      44. 6.4.44 Johnson & Johnson Services Inc.

      45. 6.4.45 Kurita Water Industries Ltd

      46. 6.4.46 LOreal

      47. 6.4.47 LANXESS

      48. 6.4.48 Lonza

      49. 6.4.49 Merck KGaA

      50. 6.4.50 NIPSEA GROUP

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability

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