- Antioxidant
- Surfactant
- Biocides
The performance chemical market size was valued at USD 284.5 billion in 2023 and is expected to grow at a CAGR of 5.1% over the forecast year to reach USD 403.0 billion in 2030. Performance chemicals enhance the properties of commodity materials such as polymers, textiles, and rubber during processing or in the finished application.
Increasing demand for high-performance materials across automotive, construction, and consumer goods industries would be the key driver in this market. Simultaneously, there is a great push towards sustainability and environment-friendly products, due to which manufacturers are demanding more 'greener' versions of such chemicals instead of the traditional ones. Raw material price volatility and tough regulatory compliance requirements are among the hindrances in this market that may complicate the production process.
Other opportunities that emerge in the area of bio-based and specialty chemicals are in response to growing customer-specific needs. Furthermore, digitalization and smart manufacturing trends are also coming in and impacting the industry, with companies seeking high-tech solutions to avoid generating waste. Market research has recently estimated the performance chemicals market would reach about $50 billion worldwide by 2026, in line with a CAGR of around 6%, with this representing the continued transformation in industries
Performance Chemicals Market Key Developments
- In April 2021, Evonik Industries AG announced that it has started to pursue the application of the high-performance polymer VESTAKEEP PEEK as a demonstrated implant polymer for medical science for efficient structural prosthesis systems. For this purpose, the company is tapping into the competence of medical professionals at Massachusetts General Hospital's world-renowned Center for Knee and Hip Replacement (USA). If this innovation is successful, it should substantially increase the delivery life of VESTAKEEP-based joint prostheses and maybe reduce the necessity for surgical intervention or days of pain therapy.
- In May 2020, BASF has now launched its new Melyra fungicide to the Chinese market. As the first of a kind, it is a usually structured set of integrated new products for the Chinese market based on the active ingredient from BASF's fungicide Revysol. Melyra combines the latest fungicide innovation of the firm with BASF's tried and trusted F500 active ingredient. This is an interesting new solution for farmers to support them in collecting more commercially viable crops.
Performance Chemicals Market Summary
Study Period
2024-2030Base Year
2023CAGR
5.1%Largest Market
North AmericaFastest Growing Market
Asia PacificPerformance Chemicals Market Dynamics
The performance chemicals market emerging through sustainable trends and growing demand for sustainable products and sustainable processes. This creates huge pressure on manufacturers to produce greener products and processes. For example, the bio-based chemicals market is anticipated to grow with a CAGR of approximately 8% during the forecast period, as companies answer consumer calls for more environmentally friendly alternatives. The other trend that emerges includes the embracing of digitization into production lines, which involves leveraging the Internet of Things and automation. More performance chemicals are being applied in automotive and construction industries to enhance the durability and final performance of the product, thereby augmenting the growth in the market. Overall, the trends reflect the trend to sustainability with the advancements in technology, which situates the performance chemicals market in a favourable position regarding expansion and innovation.
North-America Got Significant Share of
Performance Chemicals Market Regional Analysis
Based on regions, the market is segmented into North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa. The North American Performance Chemicals Market is dominated by the region. It is mainly because of an established chemical industry, huge investments in research and development, and a very strong regulatory framework that encourages innovation. Performance chemicals in the United States lead in terms of production and consumption driven by healthy demand from the auto, aerospace, and consumer goods sectors.
However, the Asia-Pacific region is emerging gradually as the fastest-growing market through fast-paced industrialization, increased urbanization, and rising demand for high-performance materials in China and India, among others. This growth is also facilitated by a growing manufacturing base and investments in infrastructure in this region that are, in turn, lifting the need for performance chemicals. Finally, the growing emphasis on sustainability and eco-friendliness in Asia-Pacific is building up market demand even further. Thus, on the whole, though North America is still ahead, the Asia-Pacific region is catching up fast, which again points to the fact that there has been a trend in the game of market dynamics toward emerging economies.
Latin America
Europe
Asia Pacific
Middle East
North America
Performance Chemicals Market Segmentation
By Product Type
By Application
- Pesticides
- Advanced Ceramic Materials
- Cosmetic Chemicals
- Electronic Chemicals
- Food Additives
- Macromolecular Additive
- Imaging chemicals and Materials
By End User
- Agrochemicals
- Chemical Industry
- Food Industry
- Medicine
- Textile
- Other
Frequently Asked Questions
The performance chemical market was valued at USD 284.5 billion in 2023 and is expected to grow at a CAGR of 5.1% over the forecast year to reach USD 403.0 billion in 2030.
The performance chemicals market is growing due to an increasing demand for high-performance materials across the automotive, construction, and consumer goods industries.
The performance chemicals market is emerging with digitalization and smart manufacturing trends are also coming in and impacting the industry, with companies seeking high-tech solutions to avoid generating waste.
North America is the dominant region in the performance chemicals market.
Asia-Pacific is the fastest-growing region in the performance chemicals market.
Key Features of the Report
- The performance chemicals market report provides granular level information about the market size, regional market share, historic market (2019-2023), and forecast (2024-2030)
- The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
- The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
- The report tracks recent innovations, key developments, and start-up details that are actively working in the market
- The report provides a plethora of information about market entry strategies, regulatory framework, and reimbursement scenario
| 1.Executive Summary |
| 2.Global Performance Chemicals Market Introduction |
| 2.1.Global Performance Chemicals Market - Taxonomy |
| 2.2.Global Performance Chemicals Market - Definitions |
| 2.2.1.Product Type |
| 2.2.2.Application |
| 2.2.3.End User |
| 2.2.4.Region |
| 3.Global Performance Chemicals Market Dynamics |
| 3.1. Drivers |
| 3.2. Restraints |
| 3.3. Opportunities/Unmet Needs of the Market |
| 3.4. Trends |
| 3.5. Product Landscape |
| 3.6. New Product Launches |
| 3.7. Impact of COVID 19 on Market |
| 4.Global Performance Chemicals Market Analysis, 2019 - 2023 and Forecast 2024 - 2030 |
| 4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) |
| 4.3. Market Opportunity Analysis |
| 5.Global Performance Chemicals Market By Product Type , 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 5.1. Antioxidant |
| 5.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.1.3. Market Opportunity Analysis |
| 5.2. Surfactant |
| 5.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.2.3. Market Opportunity Analysis |
| 5.3. Biocides |
| 5.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.3.3. Market Opportunity Analysis |
| 6.Global Performance Chemicals Market By Application, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 6.1. Pesticides |
| 6.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.1.3. Market Opportunity Analysis |
| 6.2. Advanced Ceramic Materials |
| 6.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.2.3. Market Opportunity Analysis |
| 6.3. Cosmetic Chemicals |
| 6.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.3.3. Market Opportunity Analysis |
| 6.4. Electronic Chemicals |
| 6.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.4.3. Market Opportunity Analysis |
| 6.5. Food Additives |
| 6.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.5.3. Market Opportunity Analysis |
| 6.6. Macromolecular Additive |
| 6.6.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.6.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.6.3. Market Opportunity Analysis |
| 6.7. Imaging chemicals and Materials |
| 6.7.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.7.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.7.3. Market Opportunity Analysis |
| 7.Global Performance Chemicals Market By End User, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 7.1. Agrochemicals |
| 7.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.1.3. Market Opportunity Analysis |
| 7.2. Chemical Industry |
| 7.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.2.3. Market Opportunity Analysis |
| 7.3. Food Industry |
| 7.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.3.3. Market Opportunity Analysis |
| 7.4. Medicine |
| 7.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.4.3. Market Opportunity Analysis |
| 7.5. Textile |
| 7.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.5.3. Market Opportunity Analysis |
| 7.6. Other |
| 7.6.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.6.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.6.3. Market Opportunity Analysis |
| 8.Global Performance Chemicals Market By Region, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 8.1. North America |
| 8.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 8.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.1.3. Market Opportunity Analysis |
| 8.2. Europe |
| 8.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 8.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.2.3. Market Opportunity Analysis |
| 8.3. Asia Pacific (APAC) |
| 8.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 8.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.3.3. Market Opportunity Analysis |
| 8.4. Middle East and Africa (MEA) |
| 8.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 8.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.4.3. Market Opportunity Analysis |
| 8.5. Latin America |
| 8.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 8.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.5.3. Market Opportunity Analysis |
| 9.North America Performance Chemicals Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 9.1. Product Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.1.1.Antioxidant |
| 9.1.2.Surfactant |
| 9.1.3.Biocides |
| 9.2. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.2.1.Pesticides |
| 9.2.2.Advanced Ceramic Materials |
| 9.2.3.Cosmetic Chemicals |
| 9.2.4.Electronic Chemicals |
| 9.2.5.Food Additives |
| 9.2.6.Macromolecular Additive |
| 9.2.7.Imaging chemicals and Materials |
| 9.3. End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.3.1.Agrochemicals |
| 9.3.2.Chemical Industry |
| 9.3.3.Food Industry |
| 9.3.4.Medicine |
| 9.3.5.Textile |
| 9.3.6.Other |
| 9.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.4.1.United States of America (USA) |
| 9.4.2.Canada |
| 10.Europe Performance Chemicals Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 10.1. Product Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.1.1.Antioxidant |
| 10.1.2.Surfactant |
| 10.1.3.Biocides |
| 10.2. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.2.1.Pesticides |
| 10.2.2.Advanced Ceramic Materials |
| 10.2.3.Cosmetic Chemicals |
| 10.2.4.Electronic Chemicals |
| 10.2.5.Food Additives |
| 10.2.6.Macromolecular Additive |
| 10.2.7.Imaging chemicals and Materials |
| 10.3. End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.3.1.Agrochemicals |
| 10.3.2.Chemical Industry |
| 10.3.3.Food Industry |
| 10.3.4.Medicine |
| 10.3.5.Textile |
| 10.3.6.Other |
| 10.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.4.1.Germany |
| 10.4.2.France |
| 10.4.3.Italy |
| 10.4.4.United Kingdom (UK) |
| 10.4.5.Spain |
| 11.Asia Pacific (APAC) Performance Chemicals Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 11.1. Product Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.1.1.Antioxidant |
| 11.1.2.Surfactant |
| 11.1.3.Biocides |
| 11.2. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.2.1.Pesticides |
| 11.2.2.Advanced Ceramic Materials |
| 11.2.3.Cosmetic Chemicals |
| 11.2.4.Electronic Chemicals |
| 11.2.5.Food Additives |
| 11.2.6.Macromolecular Additive |
| 11.2.7.Imaging chemicals and Materials |
| 11.3. End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.3.1.Agrochemicals |
| 11.3.2.Chemical Industry |
| 11.3.3.Food Industry |
| 11.3.4.Medicine |
| 11.3.5.Textile |
| 11.3.6.Other |
| 11.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.4.1.China |
| 11.4.2.India |
| 11.4.3.Australia and New Zealand (ANZ) |
| 11.4.4.Japan |
| 11.4.5.Rest of APAC |
| 12.Middle East and Africa (MEA) Performance Chemicals Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 12.1. Product Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.1.1.Antioxidant |
| 12.1.2.Surfactant |
| 12.1.3.Biocides |
| 12.2. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.2.1.Pesticides |
| 12.2.2.Advanced Ceramic Materials |
| 12.2.3.Cosmetic Chemicals |
| 12.2.4.Electronic Chemicals |
| 12.2.5.Food Additives |
| 12.2.6.Macromolecular Additive |
| 12.2.7.Imaging chemicals and Materials |
| 12.3. End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.3.1.Agrochemicals |
| 12.3.2.Chemical Industry |
| 12.3.3.Food Industry |
| 12.3.4.Medicine |
| 12.3.5.Textile |
| 12.3.6.Other |
| 12.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.4.1.GCC Countries |
| 12.4.2.South Africa |
| 12.4.3.Rest of MEA |
| 13.Latin America Performance Chemicals Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 13.1. Product Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.1.1.Antioxidant |
| 13.1.2.Surfactant |
| 13.1.3.Biocides |
| 13.2. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.2.1.Pesticides |
| 13.2.2.Advanced Ceramic Materials |
| 13.2.3.Cosmetic Chemicals |
| 13.2.4.Electronic Chemicals |
| 13.2.5.Food Additives |
| 13.2.6.Macromolecular Additive |
| 13.2.7.Imaging chemicals and Materials |
| 13.3. End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.3.1.Agrochemicals |
| 13.3.2.Chemical Industry |
| 13.3.3.Food Industry |
| 13.3.4.Medicine |
| 13.3.5.Textile |
| 13.3.6.Other |
| 13.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.4.1.Brazil |
| 13.4.2.Mexico |
| 13.4.3.Rest of LA |
| 14. Competition Landscape |
| 14.1. Market Player Profiles (Introduction, Brand/Product Sales, Financial Analysis, Product Offerings, Key Developments, Collaborations, M & A, Strategies, and SWOT Analysis) |
| 14.2.1.Dow Chemical Company |
| 14.2.2.DuPont de Nemours, Inc. |
| 14.2.3.ExxonMobil Chemical Company |
| 14.2.4.Eastman Chemical Company |
| 14.2.5.Chevron Phillips Chemical Company LLC |
| 14.2.6.PPG Industries, Inc. |
| 14.2.7.Huntsman Corporation |
| 14.2.8.Air Products and Chemicals, Inc. |
| 14.2.9.Celanese Corporation |
| 14.2.10.Evonik Industries AG |
| 14.2.11.BASF SE |
| 14.2.12.LANXESS AG |
| 14.2.13.Covestro AG |
| 15. Research Methodology |
| 16. Appendix and Abbreviations |
- Dow Chemical Company
- DuPont de Nemours, Inc.
- ExxonMobil Chemical Company
- Eastman Chemical Company
- Chevron Phillips Chemical Company LLC
- PPG Industries, Inc.
- Huntsman Corporation
- Air Products and Chemicals, Inc.
- Celanese Corporation
- Evonik Industries AG
- BASF SE
- LANXESS AG
- Covestro AG