According to the research report titled ‘Global Specialty Chemicals Market (2022 Edition) - Analysis By Type, End User, By Region, By Country: Market Insights and Forecast with Impact of Covid-19 (2021-2026)’, available with MarketStudyReport, global specialty chemicals market was valued at USD 778.53 billion in 2020 and is expected to observe exponential growth through 2026.

The ongoing R&D activities have aided the development of products with optimal & innovative attributes, which in turn is one of the primary factors driving the growth of global specialty chemicals market. Apart from this, improving standards of living, rising trade liberalization, and growing demand for electronics, are the major factors that are boosting the overall market size.

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Specialty chemicals are utilized in a wide range of industries, including automotive, cosmetics, aerospace, food, manufacturing, agricultural, and textiles to produce adhesives, cleaning products, colors, agrichemicals, cosmetic additives, construction chemicals, elastomers, flavors, industrial gases, food additives, perfumes, polymers, lubricants, paints, surfactants, and textile auxiliaries.

Moreover, the rapid growth of the construction sector, increasing popularity of cosmetic products, surging investment towards expanding electrical and electronics production output, soaring demand for adhesives and plastics from the packaging sector, and growing installations of water treatment systems are stimulating the overall industry outlook.

By type, this business sphere is divided into construction chemicals, homecare ingredients, pharmaceutical chemicals, agrochemicals, dyes & pigments, and other segments. With respect to the end-user segment, global specialty chemicals industry is fragmented into automotive, construction, agriculture, and others.

The geographical scope of this marketplace extends to the Middle East and Africa, Asia Pacific, Europe, North America, and Latin America, with major emphasis on countries such as China, Japan, France, the U.K., Germany, the U.S., Canada, India, Italy, and South Korea.

Akzo Nobel N.V., Evonik Industries AG, Ashland Global Specialty Chemicals Inc., Huntsman Corporation, Clariant International Limited, Albemarle Corporation, BASF SE, Dow Chemical Company, and Solvay S.A. are the leading companies operating in global specialty chemicals industry.