Specialty Chemicals Market worth $364.8 billion by 2028, at a 5.0%, says MarketsandMarkets™

/EIN News/ -- Delray Beach, FL, March 24, 2025 (GLOBE NEWSWIRE) -- In terms of value, the Specialty Chemicals Market  size was USD 272.6 billion in 2022 and is projected to reach USD 364.8 billion by 2028, at a CAGR of 5.0%, between 2023 and 2028, as per the recent study by MarketsandMarkets™. Specialty chemicals category consists of various chemicals, in this report we have mention ten chemicals which are plastic additives, rubber additives, adhesives, cosmetic ingredients, lubricating oil additives, specialty oilfield chemicals, water treatment chemicals, electronic chemicals, textile chemicals, and advanced ceramic chemicals. The rising demand from end-use industries, advancements in technology and innovation, and expanding global markets and emerging economies are the major driving factors for the specialty chemicals market. The overall growth of the market is closely connected to the growth of the application segments, such as paper & packaging, building & construction, automotive & transportation, electronics, chemical, textile, personal care, oil & gas, medical, and others.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=165

Browse in-depth TOC on “Specialty Chemicals Market”

825 - Market Data Tables
104 – Figures
592 - Pages

List of Key Players in Specialty Chemicals Market:

1. BASF SE (Germany),
2. DOW Inc. (US),
3. Nouryon (The Netherlands),
4. LANXESS AG (Germany),
5. Evonik Industries AG (Germany),
6. Huntsman Corporation (US),
7. Covestro AG (Germany),
8. Clariant AG (Switzerland),
9. Solvay S.A. (Belgium),
10. Arkema (France)

Drivers, Opportunities and Challenges in Specialty Chemicals Market:

1. Drivers: Increasing demand from end-use industries
2. Restraint: Government and environmental regulations
3. Opportunity: Green & sustainable specialty chemicals
4. Challenge: Volatility in raw material prices

Get Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=165

Key Findings of the Study:

1. Water-based adhesive technology accounted for the largest market share, in terms of volume, in 2022.
2. Medical is estimated to be the fastest-growing application of adhesives, in terms of value, during the forecast period.
3. Asia Pacific is estimated to be the largest market for adhesives, in terms of value, during the forecast period.

Based on type, the plastic additives market was dominated by plasticizers in terms of value, in 2022. Some of the key factors driving the demand for plasticizers is growing construction industry, increasing demand for consumer goods, and technological advancement.  A vast range of consumer goods, including toys, clothing, packaging, and interiors for cars, are also produced using plasticizers. The demand for these items has been fueled by rising disposable incomes, urbanization, and shifting lifestyles, which has had an impact on the need for plasticizers.

Based on application, the plastic additives market is segmented as packaging, construction, consumer goods, automotive, and others. Packaging dominated the plastic additive type of specialty chemical market in terms of both value and volume in 2022. This is due to the growing population, increased consumer spending, and the rise in e-commerce. Also, the demand for cosmetics, rapid urbanization, and growth in healthcare industry in emerging countries like China, India and Brazil is driving the demand for plastic additives in packaging application.

Get Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=165

Based on region, Asia Pacific dominated the plastic additives market, both in terms of value and volume, in 2022. The increasing demand for automotive due to growth in middle-class population, rising expenditure, and demand for new and advancement cars is fueling the market for plastic additives in this region. Growing population, increasing awareness regarding the use of safe and durable products are also some of the major factors driving the demand for plastic additives in Asia Pacific.

Browse Adjacent Markets Specialty Chemicals Market Research Reports

Related Reports:

1. Smart Labels Companies
2. Natural Fiber Composites Companies
3. Tow Prepreg Companies
4. Biodegradable Plastic Additives Companies

About MarketsandMarkets™
                    
                    MarketsandMarkets™ has been recognized as one of America's Best Management Consulting Firms by Forbes, as per their recent report.
                    
                    MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. With the widest lens on emerging technologies, we are proficient in co-creating supernormal growth for clients across the globe.
                    
                    Today, 80% of Fortune 2000 companies rely on MarketsandMarkets, and 90 of the top 100 companies in each sector trust us to accelerate their revenue growth. With a global clientele of over 13,000 organizations, we help businesses thrive in a disruptive ecosystem.
                    
                    The B2B economy is witnessing the emergence of $25 trillion in new revenue streams that are replacing existing ones within this decade. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
                    
                    Built on the 'GIVE Growth' principle, we collaborate with several Forbes Global 2000 B2B companies to keep them future-ready. Our insights and strategies are powered by industry experts, cutting-edge AI, and our Market Intelligence Cloud, KnowledgeStore™, which integrates research and provides ecosystem-wide visibility into revenue shifts.
                    
                    In addition, MarketsandMarkets SalesIQ enables sales teams to identify high-priority accounts and uncover hidden opportunities, helping them build more pipeline and win more deals with precision.
                    
                    To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.
                    
                    Contact:
                    
                    Mr. Rohan Salgarkar
                    MarketsandMarkets™ INC.
                    1615 South Congress Ave.
                    Suite 103, Delray Beach, FL 33445,
                    USA: +1-888-600-6441
                    Email: sales@marketsandmarkets.com
                    Visit Our Website: www.marketsandmarkets.com