BCC Research Affirms Ongoing Growth in the Specialty Chemicals Industry

Market to Reach $17.2 Trillion by 2028

The demand for specialty chemicals is surging, driven by various factors:

According to a recent study by BCC Research, the global specialty chemicals market is projected to grow from $13 trillion in 2023 to $17.2 trillion by 2028, with a compound annual growth rate (CAGR) of 3.7%.

This growth is attributed to the increasing adoption of specialty chemicals in various end-use industries, including:

• Electronics
• Automotive
• Pharmaceuticals
• Construction

In particular, the rise of electric vehicles (EVs) and the growing demand for thermal management materials are driving the demand for specialty chemicals in the automotive sector.