Market Introduction
Specialty chemicals or performance chemicals are used in the manufacturing of finished products to improve the process. The chemicals are used in a wide range of verticals such as automotive, construction, agriculture, industrial manufacturing, and consumer goods, as per their performance or function. Specialty chemicals are extensively used in relatively small amounts in the production of adhesives, inks, plastics, coatings, cosmetics, and cleaning products. In the construction sector, these chemicals are applied in numerous applications to impart additional protection from environmental hazards, reduce water and cement quantities utilized during construction, and enhance the lifetime of construction chemicals.
Market Overview and Dynamics
The North America specialty chemicals market was valued at US$ 240.28 billion in 2018 and is projected to reach US$ 370.23 billion by 2027; it is expected to grow at a CAGR of 5.1% from 2019 to 2027. The constantly progressing manufacturing sector tends to adopt advanced technologies and products, which fuels the growth of the specialty chemicals market in this region.
Effect of COVID-19 on North AmericaSpecialty Chemicals Market
The COVID-19 outbreak initiated in Wuhan (China) in December 2019, but later it reached almost all major parts of the world. The outbreak, which later turned into a pandemic, has adversely affected the chemicals & materials industry due to the lockdowns imposed by various countries to contain the spread of infection, which ultimately resulted in supply chain breaks, technology event cancellations, and office shutdowns. The disruption of operations at plants and factories is also affecting manufacturing, delivery schedules, and goods sales in North America. The US has recorded the highest number of confirmed cases of COVID-19 among all the countries in this region.
Key Market Segments
Specialty chemicals can be entities or single-chemical formulations whose structure greatly impacts the performance of the end product. Based on type, the specialty chemicals market is segmented into specialty mining chemicals, water treatment chemicals, adhesives, electronic chemicals, specialty paper chemicals, pesticides, rubber processing chemicals, advanced ceramic materials, plastic additives, and others. The electronic chemicals segment is expected to register the highest CAGR in the market during 2019–2027. Based on function, the market in North America is segmented into antioxidants, biocides, catalysts, specialty enzymes, separation membranes, specialty coatings, specialty pigments, surfactants, and demulsifiers. The surfactant segment led the market in 2018 with the largest share, and it is further expected to retain its dominance during the forecast period.
Major Sources and Companies Listed
A few of the major companies profiled for this study on the North America specialty chemicals market are SOLVAY S.A., Albemarle Corporation, Ashland Inc., BASF SE, Evonik Industries AG, LANXESS, Akzo Nobel N.V., HENKEL AG AND CO. KGAA, Koninklijke DSM N.V., and The Dow Chemical Company.
Reasons to buy the report
NORTH AMERICA SPECIALTY CHEMICALS MARKET SEGMENTATION
By Type
By Function
By Country
Company Profiles
| Report Attribute | Details |
|---|---|
| Market size in 2018 | US$ 240.28 Billion |
| Market Size by 2027 | US$ 370.23 Billion |
| CAGR (2019 - 2027) | 5.1% |
| Historical Data | 2016-2017 |
| Forecast period | 2019-2027 |
| Segments Covered |
By Type
|
|
Regions and Countries Covered
|
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| North America | US, Canada, Mexico |
| Market leaders and key company profiles |
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TheList of Companies - North America Specialty Chemicals Market
The North America Specialty Chemicals Market is valued at US$ 240.28 Billion in 2018, it is projected to reach US$ 370.23 Billion by 2027.
As per our report North America Specialty Chemicals Market, the market size is valued at US$ 240.28 Billion in 2018, projecting it to reach US$ 370.23 Billion by 2027. This translates to a CAGR of approximately 5.1% during the forecast period.
The North America Specialty Chemicals Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the North America Specialty Chemicals Market report:
The North America Specialty Chemicals Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The North America Specialty Chemicals Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the North America Specialty Chemicals Market value chain can benefit from the information contained in a comprehensive market report.
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