세계의 특수 화학제품 시장 : 예측(2024-2029년)

The specialty chemicals market is valued at US$793.566 billion in 2024 and is projected to grow at a CAGR of 4.92% over the forecast period.

Specialty chemicals are chemical products that are used in many different industries. These sectors include those that produce adhesives, agrichemicals, cleaning supplies, colors, elastomers, flavors, food additives, fragrances, industrial gases, lubricants, paints, polymers, surfactants, and textile auxiliaries. The major driving factor behind the market's growth is expanding construction and infrastructure development in Asia and Africa. The need for affordable housing has also been increasing in many parts of Europe. Further, the increased chemical inputs that are needed in the agriculture sector are a major factor. The growing use of medicines and pharmaceuticals by a large part of the population as increased chronic disease ailments further increased the application of specialty chemicals in sectors.

• According to the FAO (Food and Agriculture Organization), the production of urea had been 85,461,874.5 tonnes, and the production of Ammonium nitrate (AN) was 16,052,128.2 tonnes in 2022.
• Italy made the infrastructure pipelines for the upcoming years, such as Italy's National Recovery and Resilience Plan for 2021 to 2026, consisting of 132 investments and 58 reforms. This had a total investment outlay of EUR15.3 billion. The EUR242 billion fund is allocated for different modes of transport, such as roads, railways, rapid transport, ports, and airports.
• According to the English government, in 2023/24, 32,000 homes were completed construction, 35,000 homes were facilitated at the start of construction, and the land was to construct 26,000 further homes.

SPECIALTY CHEMICALS MARKET DRIVERS:

• Growing consumer demand for personal care supplies is expected to boost the specialty chemicals market growth.

Specialty chemicals are widely used in the cosmetics industry. Cosmetics is a major industry in Europe, having a retail sales value of €96 billion in 2023, according to Cosmetics Europe. This brings an estimated at least €29 billion in added value to the European economy annually. The industry growth will remain significant in the upcoming period as, according to Cosmetics Europe, 500 million consumers use cosmetic and personal care products in the region. These products included antiperspirants, fragrances, make-up, shampoos, soaps, sunscreens, and toothpaste.

Additionally, in India, according to IBEF (India Brand Equity Foundation), overall market share is expected to grow to US$20 billion by 2025 with a Compound Annual Growth Rate (CAGR) of 25%. The market in India has seen the personal care and cosmetics market with increasing shelf space in boutiques and retail stores across the country. The growth is also collaborated with the growing e-commerce industry in the country. Various companies are launching online platforms to reach out to customers easily.

• A substantial rise in the agrochemical industry is anticipated to propel the specialty chemicals market.

The agrochemical industry will see a significant demand for the application of chemicals in the production process, as the demand for food will eventually increase in the coming period. The global human population reached 8.0 billion in November 2022. According to the United Nations, this is expected to reach 9.7 billion in 2050 and reach nearly 10.4 billion in the mid-2080s. According to the Food and Agriculture Organization, fertilizers (n.e.c.) production was 1,239,004.3 tonnes in 2022. Fertilizers are a significant input in agriculture production. The demand for organic-based fertilizers has been significant in recent years due to the demand for organic food. The agrochemical industry would grow along with the rise in food demand.

Specialty Chemicals Market Geographical Outlook

• The Asia Pacific region will dominate the specialty chemicals market during the forecast period.

The major countries in the region, such as India, China, Japan, Korea, and Australia, play a vital role in the region's rapid economic growth and industrialization. Furthermore, countries of ASEAN, like Thailand, Vietnam, Cambodia, Singapore, the Philippines, and Indonesia, are experiencing fast economic growth and increasing infrastructural development. Overall, infrastructure development is taking place rapidly owing to projects like China's Belt and Road initiative.

India, in its interim budget 2024-25, has increased its capital investment outlay for infrastructure by 11.1% to US$133.86 billion, which would be 3.4 % of GDP. In the Railways, a capital outlay of US$30.72 billion has been assigned in the interim Budget 2023-24. Foreign direct investment in developing townships, housing, and built-up infrastructure was US$ 33.91 billion in March 2024. This investment boosts the overall development of the construction industry, which would lead to a relative increase in the specialty chemicals applied in the construction industry.

Specialty chemicals restraints:

• Specialty chemicals face stringent environmental standards. This requires significant investments in technology and infrastructure. Compliance with emissions, waste disposal, and hazardous substances is costly. This adds complexity to the expansion of the industry. Many small players face severe fines, penalties, and legal repercussions for noncompliance. This hampers the growth and expansion of small players. Thus, sustainability is becoming more important. The manufacturers must adopt green practices and develop eco-friendly alternatives.

Specialty chemicals by end-users are segmented into pharmaceutical, electronics, automotive, construction, and others.

The automotive industry is showing significant growth due to several factors, such as demand from the growing economies of Asia and Africa and the upsurge of electric vehicles. According to OICA (International Organization of Motor Vehicle Manufacturers), car production worldwide increased from 61,553,361 in 2022 to 68,020,265 in 2023, an uptick of 11%.

Additionally, the global consumption of pharmaceuticals has seen an upsurge in the last few years after the COVID-19 pandemic. According to the OECD, the daily doses per 1,000 inhabitants per day for medicine like antidepressants have increased significantly; for Italy, it was 44.6 in 2021 and went to 45.5 in 2022. For Sweden, it went from 108.9 in 2021 to 114.5 in 2022; for Canada, it was 130.1 in 2021 to 134 in 2022. This increased demand for medicine indicates increased chronic ailments and mental health concerns.

About Report

This research study examines the specialty chemicals market based on various segments: Type, End Use Sector, Product, and Geography. First, a brief overview of the market dynamics containing key driving factors and challenges. Next, Porter's five forces model analyzes the specialty chemicals industry comprehensively with an elaborate segment analysis. This is followed by industry value chain analysis, which determines which companies are part of the different processes and contributing to various sectors. At long last, detailed company profiling of major key players.

Specialty chemicals market key developments:

• In June 2024, ALTANA AG and UB FIGG invested in the Finnish technology company NORDTREAT. ALTANA division BYK initiated joint development of bio-based flame retardant additives with NORDTREAT. NORDTREAT produces bio-based raw materials. Its products comply with the latest fire protection regulations. These products are needed in the wood-based construction industry in Europe and globally.
• In May 2024, Verbio commenced construction of the world's first large-scale ethenolysis plant using rapeseed oil methyl ester at its Bitterfeld location. This plant would manufacture large quantities of bio-based specialty chemicals. This was to be used in detergents and cleaning agents, high?performance lubricants for engines, or plastics. The investment has a range of EUR 80 million to EUR 100 million. To finance the plant, Verbio received funding from the joint Federal Government/Lander regional development scheme (Gemeinschaftsaufgabe regionale Wirtschaftsforderung - GRW). By ethenolysis, Verbio provided the market with the bio-based specialty chemicals methyl 9-decenoate (9-DAME) and 1-decene. The plant would have an annual capacity of 32,000 tonnes of 9-DAME and 17,000 tonnes of 1-decene.
• In March 2024, Desktop Metal, Inc. and Evonik announced their expanded collaboration on photopolymer and materials development with the qualification of INFINAM ST 6100 L on the ETEC Xtreme 8K and the Pro XL. INFINAM ST 6100 L features a strong photopolymer that has high temperature, water, chemical, and UV resistance.
• In February 2024, Kemira announced the divestment of its Oil & Gas related portfolio to Sterling Specialty Chemicals LLC, a US subsidiary of Artek Group, a global industrial chemicals group based in India. The transaction enabled Kemira to focus on its core businesses, such as water treatment, renewable solutions portfolio, and digital services business.
• In February 2024, Sweden-based specialty chemicals innovator Perstorp built and commissioned an ISCC Plus-certified plant in western India. It is located in Sayakha, Bharuch, in the state of Gujarat. This plant would meet the growing market demand for Penta chemicals. This new plant would have the capacity to annually produce 40,000 metric tonnes of Pentaerythritol and 26,000 metric tonnes of calcium formate. This was the largest investment in Asia by Perstorp. This plant is located near the port, which could help to supply products effectively throughout India and across all of Asia. In Sayakha Perstorp would produce a Penta product mix including Perstorp's renewable-based, ISCC PLUS-certified grade, Voxtar. It would also offer Penta Mono and Calcium Formate.
• In February 2023, ADM opened a $30 million facility in Valencia, Spain, to meet global demand for probiotics and postbiotics. The facility had an investment of over $30 million and would increase ADM's production capacity by five times to 50 metric tons per year. The new facility is located close to ADM's research and development center at the University of Valencia Scientific Park. This research and development center is where ADM is developing next-generation genome sequencing and early-stage testing of new bacterial strains. The facility will supply growing markets in the U.S., Asia-Pacific, and Europe. ADM expects its customer base to triple over the next five years as people recognize the connection between gut microbiome and health.

The specialty chemicals market is segmented and analyzed as follows:

By Type

• Specialty Polymers
• Construction Chemicals
• Specialty Coating
• Plastic Additives
• Others

By End-User

• Pharmaceutical
• Electronics
• Automotive
• Construction
• Others

By Product

• Rubber Processing Chemicals
• Food & Feed Additives
• Cosmetic Chemicals
• Oilfield Chemicals
• Specialty Pulp & Paper Chemicals
• Specialty Textile Chemicals
• Water Treatment Chemicals
• Construction Chemicals
• Electronic Chemicals
• Mining Chemicals
• Pharmaceutical & Nutraceutical Additives
• Agrochemicals
• Others

By Geography

• North America
• USA
• Canada
• Mexico
• South America
• Brazil
• Argentina
• Rest of South America
• Europe
• United Kingdom
• Germany
• France
• Italy
• Spain
• Rest of Europe
• Middle East and Africa
• Saudi Arabia
• UAE
• Rest of the Middle East and Africa
• Asia Pacific
• China
• India
• Japan
• South Korea
• Taiwan
• Thailand
• Indonesia
• Rest of Asia-Pacific

TABLE OF CONTENTS

1. INTRODUCTION

• 1.1. Market Overview
• 1.2. Market Definition
• 1.3. Scope of the Study
• 1.4. Market Segmentation
• 1.5. Currency
• 1.6. Assumptions
• 1.7. Base and Forecast Years Timeline
• 1.8. Key benefits for the stakeholders

2. RESEARCH METHODOLOGY

• 2.1. Research Design
• 2.2. Research Process

3. EXECUTIVE SUMMARY

• 3.1. Key Findings
• 3.2. Analyst View

4. MARKET DYNAMICS

• 4.1. Market Drivers
  • 4.1.1. Growing consumer demand for personal care
  • 4.1.2. Rise in the agrochemical industry
  • 4.1.3. Growth in the construction industry sector
• 4.2. Market Restraints
  • 4.2.1. Environmental concern
• 4.3. Porter's Five Forces Analysis
  • 4.3.1. Bargaining Power of Suppliers
  • 4.3.2. Bargaining Power of Buyers
  • 4.3.3. The Threat of New Entrants
  • 4.3.4. Threat of Substitutes
  • 4.3.5. Competitive Rivalry in the Industry
• 4.4. Industry Value Chain Analysis

5. SPECIALTY CHEMICALS MARKET BY TYPE

• 5.1. Introduction
• 5.2. Specialty Polymers
• 5.3. Construction Chemicals
• 5.4. Specialty Coating
• 5.5. Plastic Additives
• 5.6. Others

6. SPECIALTY CHEMICALS MARKET BY END-USER

• 6.1. Introduction
• 6.2. Pharmaceutical
• 6.3. Electronics
• 6.4. Automotive
• 6.5. Construction
• 6.6. Others

7. SPECIALTY CHEMICALS MARKET BY END-USER

• 7.1. Introduction
• 7.2. Rubber Processing Chemicals
• 7.3. Food & Feed Additives
• 7.4. Cosmetic Chemicals
• 7.5. Oilfield Chemicals
• 7.6. Specialty Pulp & Paper Chemicals
• 7.7. Specialty Textile Chemicals
• 7.8. Water Treatment Chemicals
• 7.9. Construction Chemicals
• 7.10. Electronic Chemicals
• 7.11. Mining Chemicals
• 7.12. Pharmaceutical & Nutraceutical Additives
• 7.13. Agrochemicals
• 7.14. Others

8. SPECIALTY CHEMICALS MARKET BY GEOGRAPHY

• 8.1. Global Overview
• 8.2. North America
  • 8.2.1. United States
  • 8.2.2. Canada
  • 8.2.3. Mexico
• 8.3. South America
  • 8.3.1. Brazil
  • 8.3.2. Argentina
  • 8.3.3. Rest of South America
• 8.4. Europe
  • 8.4.1. United Kingdom
  • 8.4.2. Germany
  • 8.4.3. France
  • 8.4.4. Italy
  • 8.4.5. Spain
  • 8.4.6. Rest of Europe
• 8.5. Middle East and Africa
  • 8.5.1. Saudi Arabia
  • 8.5.2. United Arab Emirates
  • 8.5.3. Rest of the Middle East and Africa
• 8.6. Asia-Pacific
  • 8.6.1. China
  • 8.6.2. India
  • 8.6.3. Japan
  • 8.6.4. South Korea
  • 8.6.5. Taiwan
  • 8.6.6. Thailand
  • 8.6.7. Indonesia
  • 8.6.8. Rest of Asia-Pacific

9. COMPETITIVE ENVIRONMENT AND ANALYSIS

• 9.1. Major Players and Strategy Analysis
• 9.2. Market Share Analysis
• 9.3. Mergers, Acquisitions, Agreements, and Collaborations
• 9.4. Competitive Dashboard

10. COMPANY PROFILES

• 10.1. BASF SE
• 10.2. Carlyle Group
• 10.3. Evonik
• 10.4. PPG Industries Ltd
• 10.5. Mitsibushi Chemical Corporation
• 10.6. RBP Chemical Technology, Inc.
• 10.7. Brenntag Specialties, Inc.
• 10.8. TORAY INDUSTRIES, INC.
• 10.9. Lanxess India Private Limited
• 10.10. Intertek Group plc
• 10.11. Himadri Speciality Chemical Ltd
• 10.12. 3M
• 10.13. AECI
• 10.14. Albemarle Corporation
• 10.15. ALTANA
• 10.16. Archroma
• 10.17. Arkema Group
• 10.18. GCP Applied Technologies Inc.