Here are some notes related to specialty chemical industry trends (from 2023 Annual Report of Clean Science and Technology)
-
The global specialty chemicals market is projected to register a CAGR of 5.1% during the period of 2023 to 2030.
-
The Asia-Pacific region has emerged as the dominant market for specialty chemicals, representing the largest proportion of revenue with a share of 48.5% in 2022. Major contributors are China and India.
-
There is a growing trend in the chemical industry to shift towards ‘green’ or sustainable chemistry, which is expected to register a CAGR of 11.6% from 2022 to 2029.
-
The Indian specialty chemicals market is expanding rapidly and is estimated to attain a value of ~US$ 64 billion by 2025 (which was ~32 USD in 2020).
-
With increasing urbanization and growth in the number of middle-income households in the country are further fueling specialty chemicals demand in India.
| Subscribe To Our Free Newsletter |
