Product Overview

Specialty chemicals, also referred to as performance chemicals or effect chemicals are the chemicals used to create the desired effect in products or substances. Specialty chemicals are produced to meet performance-specific requirements. They are produced in batch chemical plants with the help of batch processing techniques. Specialty chemicals are manufactured in lesser volumes and for specific uses. Specialty chemicals can be single chemical formulations or entities whose composition affects the performance and functioning of the consumer's product. Specialty chemicals are used under diverse categories including agrochemicals, adhesives, construction chemicals, cleaning materials, industrial gases, and food additives. Specialty chemicals find application across a wide range of industries such as automotive, consumer goods, food processing, packaging, pharmaceuticals, and cosmetics.

Market Highlights

Global Specialty Chemicals Market is expected to project a notable CAGR of 5.60% in 2030.

Global Specialty Chemicals Market to surpass USD 982.42 billion by 2030 from USD 670.5 billion in 2019 at a CAGR of 5.60% in the coming years, i.e., 2020-30. Specialty Chemicals are experiencing an escalating demand from numerous industries including automotive, construction, food and beverages, and electronics. In addition, the shift towards the environment and user-friendly specialty chemicals to edge out the conventional commodity chemicals is expected to observe a significant growth in the coming years.

Recent Highlights in Global Specialty Chemicals Market

In September 2020, Henkel AG & Co. KGaA announced to invest $23 million to expand its liquid hand soap and hand sanitizer manufacturing facilities in Geneva (Switzerland) and New York and Pennsylvania (U.S.), to meet the increasing demand for cleaning chemicals amid the COVID-19 pandemic.

In June 2019, BASF SE announced to invest in its coating business in Asia and expand its facility in Guangdong Province, Jiangmen, and south china which manufactures automotive coatings. This new facility will double the production capacity, to cater to the growing demand for automotive refinish coatings

Global Specialty Chemicals Market: Segments

Agrochemicals segment to grow with the highest CAGR during 2020-30

Global Specialty Chemicals market is segmented by Product type into agrochemicals, polymers & plastic additives, construction chemicals, electronic chemicals, cleaning chemicals, surfactants, lubricants & oilfield chemicals, food additives, and others. Agrochemicals, segment held the largest market share in the year 2019 owing to the increasing population and shortage of arable land. This has increased the attention on raising crop yields. Various specialty chemical companies are developing yield-enhancing agrochemicals. Besides, the rising awareness and knowledge among farmers regarding the usage of agrochemicals are anticipated to witness market growth in the future.

Building & construction segment to grow with the highest CAGR during 2020-30

Global Specialty Chemicals market is divided by End User into building & construction, oil & gas, paints & coatings, agriculture, electrical & electronics, automotive, food & beverages, cosmetics & pharmaceuticals, aerospace & defense, textile, pulp & paper and Others. The building & construction segment held the largest market share in the year 2019 and will continue to dominate the market in the coming years. Rising government expenditure on construction activities and the development of public infrastructure is likely to boost the demand for specialty chemicals. Specialty chemicals provide extra protection in buildings from environmental hazards and enhance the durability of construction chemicals. These chemicals also find application in several construction projects during renovation and in constructing high buildings.

Market Dynamics

Drivers

Shift from Commodity Chemicals to Specialty Chemicals

Specialty chemicals are used as an alternative to commodity chemicals due to stringent laws on using petroleum-based products which are estimated to grow the specialty chemicals market. With the growing concern regarding the harmful effects of conventional chemicals on the environment as well as on humans has encouraged the need for environment-friendly and user-friendly specialty chemicals. As a result, many players in the market have shifted their focus towards the production and selling of specialty chemicals in order to outperform conventional fine and commodity chemical manufacturers.

Growing demand from Automotive Industry

Automotive manufacturing industry is one of the significant end-users of a specialty market. The high demand for lubricants, adhesives, paints, and coatings for weight reduction and to enhance the performance of the vehicles is estimated to propel the market growth. Lightweight automotive components such as fenders, energy absorbers, and instrument panels are manufactured using specialty chemicals as a raw material thereby boosting the market growth of the specialty chemicals market.

Restraint

Fluctuation in Cost of Raw Material

Constant fluctuations in the prices of raw material of specialty chemicals is expected to hamper the market growth in the coming years. Many specialty chemicals are produced using petroleum-based commodity chemicals. Fluctuations in the cost of crude oil affect the input price of specialty chemicals, hence reducing the profitability of market players.

Global Specialty Chemicals Market: Key Players

Akzo Nobel N.V

Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis

BASF SE

Ashland Inc

Clariant AG

Evonik Industries

The Dow Chemical Company

Huntsman Corporation

DuPont

Arkema S.A.

Bayer AG

Chevron Philips Chemical Company

Syngenta AG

Other Prominent Players

Global Specialty Chemicals Market: Regions

Global Specialty Chemicals Market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, Asia Pacific, and Middle East, and Africa. Global Specialty Chemicals Market in Asia Pacific held the largest market share in the year 2018. Asia Pacific will continue to dominate the global Specialty Chemicals market owing to rising investment in construction and infrastructure development projects. Furthermore, mounting research and development activities in this region has resulted in the development of advanced specialty chemicals which is projected to bolster the market growth.

Global Specialty Chemicals Market is further segmented by region into:

North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada

Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil, and Rest of Latin America

Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey, and Rest of Europe

Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and Rest of APAC

Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa, and Rest of MENA

Global Specialty Chemicals Market report also contains analysis on:

Specialty Chemicals Market Segments:

By Product Type

Agrochemicals,

Polymers & Plastic Additives,

Construction Chemicals,

Electronic Chemicals,

Cleaning Chemicals,

Surfactants,

Lubricants & Oilfield Chemicals,

Food Additives

Others.

By Function

Antioxidants

Biocides

Catalysts

Enzymes

Separation Membranes

Specialty Coatings

Specialty Pigments

others

By Application

Building & Construction

Oil & Gas

Paints & Coatings

Agriculture

Electrical & Electronics

Automotive

Food & Beverages

Cosmetics & Pharmaceuticals

Aerospace & Defense

Textile

Pulp & Paper

Others

Specialty Chemicals Market Dynamics

Specialty Chemicals Market Size

Supply & Demand

Current Trends/Issues/Challenges

Competition & Companies Involved in the Market

Value Chain of the Market

Market Drivers and Restraints

Contents

1. Executive Summary

2. Global Specialty Chemicals Market

2.1. Product Overview

2.2. Market Definition

2.3. Segmentation

2.4. Assumptions and Acronyms

3. Research Methodology

3.1. Research Objectives

3.2. Primary Research

3.3. Secondary Research

3.4. Forecast Model

3.5. Market Size Estimation

4. Average Pricing Analysis

5. Macro-Economic Indicators

6. Market Dynamics

6.1. Growth Drivers

6.2. Restraints

6.3. Opportunity

6.4. Trends

7. Correlation & Regression Analysis

7.1. Correlation Matrix

7.2. Regression Matrix

8. Recent Development, Policies & Regulatory Landscape

9. Risk Analysis

9.1. Demand Risk Analysis

9.2. Supply Risk Analysis

10. Global Specialty Chemicals Market Analysis

10.1. Porters Five Forces

10.1.1. Threat of New Entrants

10.1.2. Bargaining Power of Suppliers

10.1.3. Threat of Substitutes

10.1.4. Rivalry

10.2. PEST Analysis

10.2.1. Political

10.2.2. Economic

10.2.3. Social

10.2.4. Technological

11. Global Specialty Chemicals Market

11.1. Market Size & forecast, 2020A-2030F

11.1.1. By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

11.1.2. By Volume (Million Units) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

12. Global Specialty Chemicals Market: Market Segmentation

12.1. By Regions

12.1.1. North America:(U.S. and Canada), By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

12.1.2. Latin America: (Brazil, Mexico, Argentina, Rest of Latin America), By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

12.1.3. Europe: (Germany, UK, France, Italy, Spain, BENELUX, NORDIC, Hungary, Poland, Turkey, Russia, Rest of Europe), By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

12.1.4. Asia-Pacific: (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia Pacific), By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

12.1.5. Middle East and Africa: (Israel, GCC, North Africa, South Africa, Rest of Middle East and Africa), By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

12.2. By Product Type: Market Share (2020-2030F)

12.2.1. Agrochemicals, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

12.2.2. Polymers & Plastic Additives, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

12.2.3. Construction Chemicals, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

12.2.4. Electronic Chemicals, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

12.2.5. Cleaning Chemicals, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

12.2.6. Surfactants, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

12.2.7. Lubricants & Oilfield Chemicals, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

12.2.8. Food Additives, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

12.2.9. Others, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

12.2.10.

12.3. By Function: Market Share (2020-2030F)

12.3.1. Antioxidants, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

12.3.2. Biocides, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

12.3.3. Catalysts, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

12.3.4. Enzymes, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

12.3.5. Separation Membranes, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

12.3.6. Specialty Coatings and Specialty Pigments, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

12.3.7. Others, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

12.4. By End User: Market Share (2020-2030F)

12.4.1. Building & Construction, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

12.4.2. Oil & Gas, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

12.4.3 Paints & Coatings, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

v12.4.4 Transportation, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

12.4.5 Agriculture, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

12.4.6 Electrical & Electronics, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

12.4.7 Automotive, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

12.4.8 Food & Beverages, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

12.4.9 Cosmetics & Pharmaceuticals, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

12.4.10 Textile, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

12.4.11 Pulp & Paper, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

13 Company Profile

13.1. Akzo Nobel N.V

13.1.1. Company Overview

13.1.2. Company Total Revenue (Financials)

13.1.3. Market Potential

13.1.4. Global Presence

13.1.5. Key Performance Indicators

13.1.6. SWOT Analysis

13.1.7. Product Launch

13.2. BASF SE

13.3. Ashland Inc

13.4. Clariant AG

13.5. Evonik Industries

13.6. The Dow Chemical Company

13.7. Huntsman Corporation

13.8. DuPont

13.9. Arkema S.A.

13.10. Bayer AG

13.11. Chevron Philips Chemical Company

13.12. Syngenta AG

13.13. Other Prominent Players

14 Consultant Recommendation

**The above given segmentations and companies could be subjected to further modification based on in-depth feasibility studies conducted for the final deliverable

Methodology/Research Approach

This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.

Research Programs/Design

Historical Data (2015-2019)	Industry Trends Competitive Landscape By Company Expansion Mergers and Acquisitions Market Segment by Type by Application By Regions/ Geography	Value Status and Outlook Value for Major Players Market Share Growth Rate Present Situation Analysis Value Market Share Growth Rate Present Situation Analysis
Influencing Factors	Market Environment Government Policy Technological Changes Market Risks	Market Drivers Growing Demand of Downstream Reduction in Cost
Market Forecast (2021-2026)	Overall Size by Type by Application By Regions/Geography	Key Data (Value) Market Share Growth Rate CAGR (2021-2026)

Market Size Estimation

Top-down and bottom-up approaches are used to validate the global Voluntary Carbon Offset market size market and estimate the market size for Company, regions segments, product segments and Application (end users).

The market estimations in this report are based on the marketed sale price of Voluntary Carbon Offset (excluding any discounts provided by the player, distributor, wholesaler or traders). The percentage splits, market share, and breakdowns of the product segments are derived on the basis of weights assigned to each of the segments on the basis of their utilization rate and average sale price. The regional splits of the overall Voluntary Carbon Offset market and its sub-segments are based on the percentage adoption or utilization of the given product in the respective region or country.

Major Company in the market is identified through secondary research and their market revenues determined through primary and secondary research. Secondary research included the research of the annual and financial reports of the top Company; whereas, primary research included extensive interviews of key opinion leaders and industry experts such as experienced front-line staff, directors, CEOs and marketing executives. The percentage splits, market share, Growth Rate and breakdowns of the product markets are determined through using secondary sources and verified through the primary sources.

All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or other factors are not accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Market Intellix and presented in this report

The following figure shows an illustrative representation of the overall market size estimation process used for this study.

Market Breakdown and Data Triangulation

After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation, extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report. Extensive qualitative and further quantitative analysis is also done from all the numbers arrived at in the complete market engineering process to list key information throughout the report.

Data Source

Secondary Sources

Secondary sources include such as press releases, annual reports, non-profit organizations, industry associations, governmental agencies and customs data, etc. This research study involves the usage of widespread secondary sources, directories, databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), and TRADING ECONOMICS, and News Network, statista, Federal Reserve Economic Data, annual reports, BIS Statistics, ICIS; company house documents; CAS(American Chemical Society); investor presentations; and SEC filings of companies. Secondary research was used to identify and collect information useful for the extensive, technical, market-oriented, and Hospitals study of the Voluntary Carbon Offset market. It was also used to obtain important information about the top companies, market classification and segmentation according to industry trends to the bottom-most level, and key developments related to market and technology perspectives.

Market Size	Segmental value Geographic Penetration Product Adoption Rate for Different market	Journals, Websites, and Press Releases Annual Reports and SEC Filings Company Websites and Press Releases Public and Paid Databases Market Intellix Data Repository
Market Position of Top Company	Product Financials Geographic value Mix Total Company value Business/Segmental value Mix
Qualitative Analysis	Influence Factors Market Potential Market Risks and Opportunities Industry Trends Geographical Features Government Policies	Company Websites and Press Releases Public and Paid Databases Annual Reports Industry Associations Market Intellix Data Repository

Primary Sources

In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product Company (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.

The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end use (product buyers), and related key executives from various key companies and organizations operating in the global market.

Primary research was conducted to identify segmentation Type, product price range, product Application, key Company, raw materials supply and the downstream demand, industry status and outlook, and key market dynamics such as risks, influence factors, opportunities, market barriers, industry trends, and key player strategies.

Key Executives Interviewed

Key Data Information from Primary Sources

Primary Sources	Parameters	Key Data
Market Segments(by Application, by Type)	Value by Type Status and Forecast Value by Application Value by Regions, Status and Forecast (2021-2026)	Value Market Share by Type Value Growth Rate by Type Value by Application Percentage and Growth Rate by Application Value Growth Rate and Market Share by Regions Market Size Status and Forecast (2021-2026)
Total Market	Overall Size, Status and Forecast	Market Size Status and Forecast (2021-2026)