The specialty chemicals market is anticipated to showcase a considerable CAGR of 4.0% during the forecast period (2020-2026). The chemical industry in the region contributed $866 billion to the North American GDP in 2017 as per ICCA. The rise in demand for high performance and function-specific chemicals in the end-user industries is a key factor driving the North American special chemical market. Chemical demand and industrial production are closely tied to the major end markets such as construction and automotive. Increased consumer spending is supporting increased regional production of chemicals in paints/coatings and soaps/detergents industries. Key manufacturers of specialty chemicals are inclining towards offering the innovative and custom-made product to meet target specific applications and thereby, contributing towards the high share of the North American market. 

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The specialty chemicals market is segmented on the basis of product type. Based on product type, the market is segmented into agrochemicals, cleaning chemicals, construction chemicals, electronic chemicals, food additives, adhesive & sealants, specialty coatings, surfactants, paper & textile chemicals, lubricants & oilfield chemicals, polymers & plastic additives, and others. Based on product type, construction chemicals are anticipated to hold a considerable market share. The growing use of specialty chemicals in construction industry is a key factor contributing towards the high share of the market segment. 

The key players in the specialty chemicals market include 3M Co., Akzo Nobel N.V., Albemarle Corp., Ashland Inc., BASF SE, Bayer AG, Chemtura Corp., Chevron Philips Chemical Co., Clariant AG, Covestro AG, DuPont Inc., Eastman Chemical Co., Evonik Industries AG, and so on. The key players of the market are involved in making innovations in their products offering to suit the industrial application to remain competitive in the marketplace. Moreover, some players are adopting different growth strategies such as mergers & acquisitions, and product launches to thrive in the North American market. 

Research Methodology

The market study of the North American specialty chemicals market is incorporated by extensive primary and secondary research conducted by the research team at OMR.  Secondary research has been conducted to refine the available data to breakdown the market into various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. The analysts try to contact as many executives, managers, key opinion leaders, and industry experts to bring more authenticity to the reports.

Secondary Sources Include

• Financial reports of companies involved in the market.
• Whitepapers, research-papers, and news blogs.
• Company websites and their product catalog.

The report provides an in-depth analysis of market size, intended quality of the service preferred by consumers. The report will serve as a source for a 360-degree analysis of the market thoroughly integrating different models.

Market Segmentation

1. North American Specialty Chemicals Market Research And Analysis By Product Type

The Report Covers

• Comprehensive research methodology of the North American specialty chemicals market.
• This report also includes a detailed and extensive market overview with key analyst insights.
• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting the North American specialty chemicals market.
• Insights about market determinants that are stimulating the North American specialty chemicals industry.
• Detailed and extensive market segments with regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.