North America Specialty Chemicals Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Type (Specialty Mining Chemicals, Water Treatment Chemicals, Adhesives, Electronic Chemicals, Specialty Paper Chemicals, Pesticides, Rubber Processing Chemicals, Advanced Ceramic Materials, Plastic Additives, and Others); Function (Antioxidants, Biocides, Catalysts, Specialty Enzymes, Separation Membranes, Specialty Coatings, Specialty Pigments, Surfactants, and Demulsifiers); and Country
The North America specialty chemicals market was valued at US$ 240.28 million in 2018 and is projected to reach US$ 370.23 million by 2027; it is expected to grow at a CAGR of 5.1% from 2019 to 2027.
Specialty chemicals are additives or ingredients that at the higher end of a chemical value chain; these are used in relatively small quantities depending upon their performance improving properties. Verticals such as construction, electronics, automotive, rubber, and agrochemicals are the major contributors to the increasing demand for these high-performance chemicals.
In 2018, the US accounted for the largest share of the North America specialty chemicals market. Rapid industrial development, coupled with techno logical advancements in the industrial sector, is the key factor boosting the specialty chemical market in the country. Moreover, the surging demand for more sophisticated products is prompting companies in the US chemical industry to shift their focus toward the development of new and innovative specialties chemicals. Specialty chemical producers in the US are likely to consider reforming their portfolio according to the changing market requirements. The technology breakthroughs in the agrochemicals, electronics, automotive, and energy sectors are expected to be the primary contributors to this transition in the marketplace. For example, specialty chemical companies catering to the automotive sector need to restructure their product portfolio to meet new trends such as light-weight and low-emission products. Moreover, plastic, rubber, paints, and coating manufacturers in Canada and Mexico generating high demands for these high-performance chemicals.
The COVID-19 pandemicoriginated in Wuhan (China) in December 2019, and since then, it has spread aroundthe globe at a fast pace. The US, Russia, India, Italy, China, Spain, Franceand Germany are among the worst-affected countries in terms confirmed cases andreported deaths as of June 2020. The pandemic has affected economies andindustries due to enforced lockdowns, travel bans, and business shutdowns. Specialtychemicals are used in the production of various products that are used on adaily basis. Amid the COVID-19 pandemic, the demand for chemicals has decreasedacross various industries. Global supply chains are disrupted, and the stockprices of chemical companies have taken unprecedented hits. The supply chainbreaks, and manufacturing and office shutdowns have also led to seized productionof specialty chemicals. The automotive, transportation, and consumer productssectors are among the hardest hit industries, which has also hampered thedemand for specialty chemicals.
North America Specialty Chemicals Market
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Market Insights
Growing Demand forHigh-Performance Coatings Drives North America Specialty Chemicals Market
The demand for high-performance coating from the automotive,aerospace & defense, general industrial tools and machinery, and healthcareindustries, among others, has increased significantly in the past few years.High-performance coatings offer exceptional corrosion protection, abrasionresistance, and chemical and thermal resistance, along with conferring extremedurability and strength, and contributing to the aesthetics of the end products.Moreover, high-performance coatings are environment-friendly, which furtherpropels its demand from various verticals such as automotive, aerospace &defense, and building and construction. Anti-corrosion coatings provide abarrier against corrosion to substrates that are frequently subjected to hightemperature and harsh corrosive conditions. The oil & gas sector is a majorconsumer of corrosion coatings. High-performance coatings are used to protectmetal materials, pipes, tanks, concrete structures, and processing equipment.
Type-Based Insights
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 market for electronic chemicals is expected to grow at the fastest CAGR during the forecast period.The demand for specialty chemicals in the electronic industry has increased over the past few years. These chemicals are used in the manufacturing of electronic components and products, silicon wafers, integrated circuits,packaging and printed circuit boards (PCBs), compound semiconductors, optoelectronics, and flat panel display products. Therefore, growing product demand for manufacturing semiconductors, flat panel displays, and photolithographic printing is expected to propel specialty chemical market growth over the forecast period.
North America Specialty Chemicals Market, by Type – 2018 and 2027
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Function-Based Insights
Based on function, the North America specialty chemicalsmarket is segmented into antioxidants, biocides, catalysts, specialty enzymes,separation membranes, specialty coatings, specialty pigments, surfactants, anddemulsifiers. The surfactant segment led the market in 2018 with the largest shareand is expected to continue to dominate the market during 2019–2027. Surfactantsare organic mixtures that are amphiphilic, i.e., they feature both hydrophilicand hydrophobic groups. Owing to their ability to act as emulsifiers, wettingagents, foaming agents, and dispersants they are used in detergentformulations. Surfactants are mostly found in bathroom cleaners, cosmetics,personal care products, pharmaceuticals, and a wide range of imperativeindustrial applications. In addition to the changing lifestyles of consumers, therising per-capita consumption of household cleaners and detergents is boosting thesurfactant market. Nevertheless, factors such as uncertainties with the regulationspertaining to the environment; crude oil prices; and pollution control laws,especially regarding manufacturing processes, are hampering the market growth. Themarket for the surfactants segments is projected to grow during the forecastperiod on the back of the growing use of surfactants and bolstering researchand development activities.
Strategic Insights
A few of the key players in the North America specialtychemicals market are Henkel AG and Co. KGAA, Akzo Nobel N.V., BASF SE, Lanxess,The Dow Chemical Company, Koninklijke DSM N.V., Ashland Global Holdings Inc,Albemarle Corporation, SOLVAY S.A., and Evonik Industries AG. These players arefocused on increasing their production capacities, and expanding their globalreach and consumer base.
North AmericaSpecialty Chemicals Market – by Type
- Specialty Mining Chemicals
- Water Treatment Chemicals
- Adhesives
- Electronic Chemicals
- Specialty Paper Chemicals
- Pesticides
- Rubber Processing Chemicals
- Advanced Ceramic Materials
- Plastic Additives
- Others
North AmericaSpecialty Chemicals Market – by Function
- Antioxidants
- Biocides
- Catalysts
- Specialty Enzymes
- Separation Membranes
- Specialty Coatings
- Specialty Pigments
- Surfactants
- Demulsifiers
Company Profiles
- Henkel AG and Co. KGAA
- Akzo Nobel N.V.
- BASF SE
- Lanxess
- The Dow Chemical Company
- Koninklijke DSM N.V.
- Ashland Global Holdings Inc
- Albemarle Corporation
- SOLVAY S.A.
- Evonik Industries AG
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 North AmericaSpecialty Chemicals Market – By Type
1.3.2 North AmericaSpecialty Chemicals Market – By Function
1.3.3 North AmericaSpecialty Chemicals Market – By Geography
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Specialty Chemicals Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.2.1 North America
4.3 Expert Opinion
4.4 Qualitative Information About Rail Cars In The Specialty ChemicalsMarket
5. Specialty Chemicals Market– Key Market Dynamics
5.1 Market Drivers
5.1.1 Growing Demandfor High-Performance Coatings
5.1.2 Robust Growth inConstruction Industry in North America
5.2 Market Restraints
5.2.1 StringentRegulations Pertaining to Production and Use of Specialty Chemicals
5.3 Market Opportunities
5.3.1 Rising Focus onProducing Environment-Friendly Specialty Chemicals
5.4 Future Trends
5.4.1 Increasing Useof Advanced Ceramic Materials in Automotive Industry
5.5 Impact Analysis Of Drivers And Restraints
6. Specialty Chemicals – North America Market Analysis
6.1 Specialty Chemicals Market Overview
6.2 Specialty Chemicals Market –Revenue, and Forecast to 2027 (US$Billion)
6.3 Market Positioning – North America Market Players Ranking
7. North America Specialty Chemicals Market Analysis – By Type
7.1 Overview
7.2 Specialty Chemicals Market Share, by Type, 2018 and 2027 (%)
7.3 Specialty Mining Chemicals
7.3.1 Overview
7.3.2 Specialty MiningChemicals: Specialty Chemicals Market– Revenue and Forecast to 2027 (US$ Bn)
7.4 Water Treatment Chemicals
7.4.1 Overview
7.4.2 Water TreatmentChemicals: Specialty Chemicals Market– Revenue and Forecast to 2027 (US$ Bn)
7.5 Adhesives
7.5.1 Overview
7.5.2 Adhesives:Specialty Chemicals Market– Revenue and Forecast to 2027 (US$ Bn)
7.6 Electronic Chemicals
7.6.1 Overview
7.6.2 ElectronicChemicals: Specialty Chemicals Market– Revenue and Forecast to 2027 (US$ Bn)
7.7 Specialty Paper Chemicals
7.7.1 Overview
7.7.2 Specialty PaperChemicals: Specialty Chemicals Market– Revenue and Forecast to 2027 (US$ Bn)
7.8 Pesticides
7.8.1 Overview
7.8.2 Pesticides:Specialty Chemicals Market– Revenue and Forecast to 2027 (US$ Bn)
7.9 Rubber Processing Chemicals
7.9.1 Overview
7.9.2 RubberProcessing Chemicals: Specialty Chemicals Market– Revenue and Forecast to 2027(US$ Bn)
7.10 Advanced Ceramic Materials
7.10.1 Overview
7.10.2 Advanced CeramicMaterials: Specialty Chemicals Market– Revenue and Forecast to 2027 (US$ Bn)
7.11 Plastic Additives
7.11.1 Overview
7.11.2 Plastic Additives:Specialty Chemicals Market– Revenue and Forecast to 2027 (US$ Bn)
7.12 Others
7.12.1 Overview
7.12.2 Others: SpecialtyChemicals Market– Revenue and Forecast to 2027 (US$ Bn)
8. North America Specialty Chemicals Market Analysis – By Function
8.1 Overview
8.2 Specialty Chemicals Market Share, by Function, 2018 and 2027 (%)
8.3 Antioxidants
8.3.1 Overview
8.3.2 Antioxidants:Specialty Chemicals Market– Revenue and Forecast to 2027 (US$ Bn)
8.4 Biocides
8.4.1 Overview
8.4.2 Biocides:Specialty Chemicals Market– Revenue and Forecast to 2027 (US$ Bn)
8.5 Catalysts
8.5.1 Overview
8.5.2 Catalysts:Specialty Chemicals Market– Revenue and Forecast to 2027 (US$ Bn)
8.7 Separation Membranes
8.8 Specialty Coatings
8.9 Specialty Pigments
8.10 Surfactant
8.11 Demulsifier
8.11.1 Overview
8.11.2 Demulsifier:Specialty Chemicals Market– Revenue and Forecast to 2027 (US$ Bn)
9. Specialty Chemicals Market – Regional Analysis
9.1 Overview
9.1.1 North America:Specialty Chemicals Market – Revenue and Forecast to 2027 (US$ Billion)
9.1.2 North America:Specialty Chemicals Market, by Key Country
9.1.2.1 US: SpecialtyChemicals Market –Revenue and Forecast to 2027 (US$ Billion)
9.1.2.1.1 US: SpecialtyChemicals Market, by Type
9.1.2.1.2 US: SpecialtyChemicals Market, by Function
9.1.2.2 Canada:Specialty Chemicals Market –Revenue and Forecast to 2027 (US$ Billion)
9.1.2.2.1 Canada:Specialty Chemicals Market, by Type
9.1.2.2.2 Canada: SpecialtyChemicals Market, by Function
9.1.2.3 Mexico:Specialty Chemicals Market –Revenue and Forecast to 2027 (US$ Billion)
9.1.2.3.1 Mexico:Specialty Chemicals Market, by Type
9.1.2.3.2 Mexico:Specialty Chemicals Market, by Function
10. Impact of COVID-19 Pandemic on North America Specialty ChemicalsMarket
10.1 North America: Impact Assessment of COVID-19 Pandemic
11. Industry Landscape
11.1 New Development
11.2 Merger and Acquisitions
11.3 Strategy and Business Planning
12. Company Profiles
12.1 SOLVAY S.A.
12.1.1 Key Facts
12.1.2 BusinessDescription
12.1.3 Products andServices
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 ALBEMARLE CORPORATION
12.2.1 Key Facts
12.2.2 BusinessDescription
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 Ashland Inc.
12.3.1 Key Facts
12.3.2 BusinessDescription
12.3.3 Products andServices
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 BASF SE
12.4.1 Key Facts
12.4.2 BusinessDescription
12.4.3 Products andServices
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 Evonik Industries AG
12.5.1 Key Facts
12.5.2 BusinessDescription
12.5.3 Products andServices
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 LANXESS
12.6.1 Key Facts
12.6.2 BusinessDescription
12.6.3 Products andServices
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 Akzo Nobel N.V.
12.7.1 Key Facts
12.7.2 BusinessDescription
12.7.3 Products andServices
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
12.8 HENKEL AG AND CO. KGAA
12.8.1 Key Facts
12.8.2 BusinessDescription
12.8.3 Products andServices
12.8.4 Financial Overview
12.8.5 SWOT Analysis
12.8.6 Key Developments
12.9 Koninklijke DSM N.V.
12.9.1 Key Facts
12.9.2 BusinessDescription
12.9.3 Products andServices
12.9.4 Financial Overview
12.9.5 SWOT Analysis
12.9.6 Key Developments
12.10 The Dow Chemical Company
12.10.1 Key Facts
12.10.2 Business Description
12.10.3 Products and Services
12.10.4 Financial Overview
12.10.5 SWOT Analysis
12.10.6 Key Developments
13. Appendix
13.1 About The Insight Partners
13.2 Glossary
LIST OF TABLES
Table 1. Specialty Chemicals Market – Revenue, and Forecast to 2027 (US$Billion)
Table 2. US: Specialty Chemicals Market, by Type – Revenue and Forecast to2027 (US$ Billion)
Table 3. US: Specialty Chemicals Market, by Function– Revenue and Forecast to2027 (US$ Billion)
Table 4. Canada: Specialty Chemicals Market, by Type – Revenue and Forecastto 2027 (US$ Billion)
Table 5. Canada: Specialty Chemicals Market, by Function– Revenue andForecast to 2027 (US$ Billion)
Table 6. Mexico: Specialty Chemicals Market, by Type – Revenue and Forecastto 2027 (US$ Billion)
Table 7. Mexico: Specialty Chemicals Market, by Function– Revenue andForecast to 2027 (US$ Billion)
Table 8. Glossary of Terms, North America Specialty Chemicals Market
LIST OF FIGURES
Figure 1. Specialty Chemicals Market Segmentation
Figure 2. Specialty Chemicals Market Segmentation – By Geography
Figure 3. North America Specialty Chemicals Market Overview
Figure 4. Antioxidants Segment to Show Remarkable Traction During ForecastPeriod
Figure 5. The US Held Largest Share of North America Specialty ChemicalsMarket
Figure 6. North America Specialty Chemicals Market, Industry Landscape
Figure 7. North America PEST Analysis
Figure 8. Expert Opinion
Figure 9. Specialty Chemicals Market Impact Analysis Of Driver And Restraints
Figure 10. Geographic Overview of Specialty Chemicals Market
Figure 11. North America Specialty Chemicals Market – Revenue and Forecast to2027 (US$ Billion)
Figure 12. Specialty Chemicals Market Share, by Type, 2018 and 2027 (%)
Figure 13. Specialty Mining Chemicals: Specialty Chemicals Market– Revenue andForecast to 2027 (US$ Bn)
Figure 14. Water Treatment Chemicals: Specialty Chemicals Market– Revenue andForecast to 2027 (US$ Bn)
Figure 15. Adhesives: Specialty Chemicals Market– Revenue and Forecast to 2027(US$ Bn)
Figure 16. Electronic Chemicals: Specialty Chemicals Market– Revenue andForecast to 2027 (US$ Bn)
Figure 17. Specialty Paper Chemicals: Specialty Chemicals Market– Revenue andForecast to 2027 (US$ Bn)
Figure 18. Pesticides: Specialty Chemicals Market– Revenue and Forecast to 2027(US$ Bn)
Figure 19. Rubber Processing Chemicals: Specialty Chemicals Market– Revenue andForecast to 2027 (US$ Bn)
Figure 20. Advanced Ceramic Materials: Specialty Chemicals Market– Revenue andForecast to 2027 (US$ Bn)
Figure 21. Plastic Additives: Specialty Chemicals Market– Revenue and Forecastto 2027 (US$ Bn)
Figure 22. Others: Specialty Chemicals Market– Revenue and Forecast to 2027(US$ Bn)
Figure 23. Specialty Chemicals Market Share, by Type, 2018 and 2027 (%)
Figure 24. Antioxidants: Specialty Chemicals Market– Revenue and Forecast to2027 (US$ Bn)
Figure 25. Biocides: Specialty Chemicals Market– Revenue and Forecast to 2027(US$ Bn)
Figure 26. Catalysts: Specialty Chemicals Market– Revenue and Forecast to 2027(US$ Bn)
Figure 27. Specialty Enzymes: Specialty Chemicals Market– Revenue and Forecastto 2027 (US$ Bn)
Figure 28. Separation Membranes: Specialty Chemicals Market– Revenue andForecast to 2027 (US$ Bn)
Figure 29. Specialty Coatings: Specialty Chemicals Market– Revenue and Forecastto 2027 (US$ Bn)
Figure 30. Specialty Pigments: Specialty Chemicals Market– Revenue and Forecastto 2027 (US$ Bn)
Figure 31. Surfactant: Specialty Chemicals Market– Revenue and Forecast to 2027(US$ Bn)
Figure 32. Demulsifier: Specialty Chemicals Market– Revenue and Forecast to2027 (US$ Bn)
Figure 33. North America: Specialty Chemicals Market – Revenue and Forecast to2027 (US$ Billion)
Figure 34. North America: Specialty Chemicals Market Revenue Share, by Key Country(2018 and 2027)
Figure 35. US: Specialty Chemicals Market –Revenue and Forecast to 2027 (US$Billion)
Figure 36. Canada: Specialty Chemicals Market –Revenue and Forecast to 2027(US$ Billion)
Figure 37. Mexico: Specialty Chemicals Market –Revenue and Forecast to 2027(US$ Billion)
Figure 38. Impact of COVID-19 Pandemic on North America Specialty ChemicalsMarkets
TheList of Companies - North America Specialty Chemicals Market
- SOLVAYS.A.
- AlbemarleCorporation
- AshlandInc.
- BASFSE
- EvonikIndustries AG
- LANXESS
- AkzoNobel N.V.
- HENKELAG AND CO. KGAA
- KoninklijkeDSM N.V.
- TheDow Chemical Company
- Highlights key business priorities to assistcompanies realign their business strategies.
- Features key findings and crucial progressiveindustry trends in the North America specialty chemicals market, therebyallowing players to develop effective long-term strategies.
- Develops/modifies business expansion plans byusing substantial growth offering from developed and emerging markets.
- Scrutinizes in-depth market trends as well as keymarket drivers and restraints.
- Enhances the decision-making process byunderstanding the strategies that underpin commercial interest with respect toproducts, segmentation, and industry verticals.