The Speciality Chemicals Global Market Report 2023, provides comprehensive information on the speciality chemicals market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
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As per The Business Research Company’s Speciality Chemicals Global Market Report 2023, the global speciality chemicals market size is expected to grow from $712.64 billion in 2022 to $744.58 billion in 2023 at a compound annual growth rate (CAGR) of 4.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global speciality chemicals market size is expected to grow to $873.22 billion in 2027 at a CAGR of 4.1%.
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Product innovation is a key trend that is gaining popularity in the specialty chemicals market. Major companies operating in the specialty chemicals market are focused on research and development for product innovations to offer additional benefits and assist in a better yield. Such product innovations enable companies to gain a competitive edge in the market. For instance, in September 2022, P2X-Europe GmbH & Co. KG, a Germany-based joint venture between H&R and Mabanaft, launched SynZero, synthesis-based specialty chemical products, and e-fuels. SynZero products are functionally and chemically comparable to petroleum fuels, and they eliminate some undesired features of the production and use of fossil fuels, including greenhouse gas (GHG) pollutant emissions. It can replace traditional hydrocarbons made from fossil materials without any inconvenience for the consumer by offering innovative mobility solutions with reduced CO2 emissions.
The speciality chemicals market is segmented:
1) By Product Type: Agrochemicals, Dyes and Pigments, Construction Chemicals, Speciality Polymers, Textile Chemicals, Base Ingredients, Surfactants, Functional Ingredients, Water Treatments
2) By Source: Crude Oil, Naphtha, Ethane, Propane, Butane, Wood
3) By End-Use: Industrial, Construction, Cosmetics and Personal Care, Pharmaceutical, Electrical and Electronics, Mining and Oilfield
Asia-Pacific was the largest region in the speciality chemicals market in 2022.
The table of contents in TBRC’s speciality chemicals market report includes:
- Executive Summary
- Specialty Chemicals Market Characteristics
- Specialty Chemicals Market Trends And Strategies
- Specialty Chemicals Market – Macro Economic Scenario
- Specialty Chemicals Market Size And Growth
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- Africa Specialty Chemicals Market
- Specialty Chemicals Market Competitive Landscape And Company Profiles
- Key Mergers And Acquisitions In The Specialty Chemicals Market
- Specialty Chemicals Market Future Outlook and Potential Analysis
- Appendix
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The Business Research Company is a market intelligence firm that pioneers in market, company, and consumer research. TBRC’s specialist consultants are located globally and are experts in a wide range of industries that include healthcare, manufacturing, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries. Through the report businesses can gain a thorough understanding of the market’s size, growth rate, major drivers and leading players.
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