Chemical Industry: Market Research Reports, Statistics and Analysis

Specialty Chemicals

• Chemicals are used across a range of industries and products - such as printing ink, pesticides and paint - and exist in different formats, adaptable for specific uses. Primary chemicals refer to commodities and bulk chemicals (chemical products and base intermediates), which involve huge output at low prices. Secondary chemicals involve low output at higher prices and can be divided into fine chemicals and specialty chemicals. Fine chemicals involve relatively low output with higher prices and are employed as intermediates (chemical compounds used in the manufacture of final products) to produce chemical products such as detergents and pharmaceuticals.

• Specialty chemicals are designed to perform a specific purpose using basic chemicals, with lower output at high prices. Sealants, plastic additives and adhesives fall under this category. Industrial chemicals, sometimes included in the bulk chemicals category, are used in chemical processing; examples include dyes and photographic chemicals. Petrochemicals are chemical compounds manufactured from petroleum. Other chemical categories include consumer care products such as perfumes and detergents, and life science products used to in biotechnology and to produce crops, for example pharmaceuticals and pesticides.

• The specialty chemicals market in the US is worth almost $185 billion, according to MarketLine, with additives, dyes, advanced polymers and adhesives falling into the category. The leading segment of the market, comprised mainly of coatings and paints, is worth almost $51 billion, or almost 28% of the overall specialty chemicals market. Market growth is expected to slow, with a forecast worth of under $230 billion by the close of 2015.

Market Outlook

The global chemical industry declined during the financial crisis but is expected to see demand rise as the economy recovers. Growth will also be driven by cost-cutting initiatives. As around one-tenth of demand in the chemical market comes from the automotive industry and another tenth from housing, recovery in the overall industry depends in part on how well these sectors perform financially.

To satisfy growing demand for less environmentally harmful energy solutions and a more dedicated approach to minimizing industrial waste, green chemistry continues to grow, with an expected worth of $100 billion in 2020, according to Pike Research. Similarly, the renewable chemicals market could reach a value of more than $76 billion in 2015, according to research from Markets and Markets, representing annual growth of almost 13% in the five-year period ending 2015.

Leading Industry Associations

• International Council of Chemical Associations www.icca-chem.org
• Chemical Distributor Trade Associations www.chemagility.com
• American Chemical Society www.acs.org
• European Chemical Industry Council www.cefic.org
• European Association of Chemical Distributors www.fecc.org