The global specialty chemicals market is expected to reach $1.79 trillion by 2025, according to a recent report by Grand View Research Inc.1 The growing popularity of high-value chemicals that are crucial to developing novel products is reportedly a major driving factor for the industry. Specialized and advanced features of these compounds offer a significant advantage in comparison with commodity products, since the former are formulated on the basis of unique performance characteristics for specific applications in the construction, automotive, electronics, agriculture, and other sectors. International chemical authorities are widely advocating the passage of free trade agreements, such as the Transatlantic Trade Investment Partnership (TTIP) between the U.S. and Europe, which is expected to foster manufacturing and trade of these products. Recovery in housing starts and rebounding growth of the automotive sector in North America are also impacting market dynamics. Construction chemicals accounted for 12% of the volume share in 2016, and are expected to emerge as the fastest-growing segment, with an over 5.7% compound annual growth rate (CAGR) from 2017-2025. The steady demand for residential projects and public infrastructure in emerging economies remains a key driving factor for compounds used in the production, maintenance, and repair of building components. Electronic chemicals are projected to remain an important and fast-growing segment, due to integration of miniaturized electronics in automobiles, development of solar-powered devices, and rapid digitalization across emerging economies. The global specialty chemicals market exceeded 260 million tons in 2016, and is expected to grow at a CAGR of 5.1% from 2017 to 2025. The coatings, adhesives, sealants and elastomers (CASE) sector is growing at a CAGR of over 5%, reportedly due to high demand for specialty adhesives, coatings, and other materials in high-performance applications. Automotive applications are forecast to increase at a 6% CAGR from 2017 to 2025. Automation in assembly and other OEM processes is expected to contribute to an increase in production levels, which is, in turn, likely to foster higher chemicals industry revenue. Regionally, Asia-Pacific is anticipated to increase at the highest pace, due to rapidly expanding automotive and electronics sectors, along with a steady rise in industrial output in recent years. In addition, low-cost labor and vast material resources are contributing to growth in the region, as foreign players make advances and investments in emerging nations. Source:adhesivesmag