Performance Chemicals Market Size, Share, Growth, Trends, and Global Industry Analysis: By Type, By Application, By End Users, and Region Forecast 2019-2030
The performance chemical market size was valued at US$ 284.5 billion in 2023 and is expected to grow at a CAGR of 5.1% over the forecast year to reach US$ 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
Study Period
2024-2030Base Year
2023CAGR
5.1%Largest Market
North AmericaFastest Growing Market
Asia Pacific
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.
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
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Report Benchmarks |
Details |
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Report Study Period |
2024-2030 |
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Market Size in 2023 |
US$ 284.5 billion |
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Market Size in 2030 |
US$ 403.0 billion |
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Market CAGR |
5.1% |
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By Product Type |
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By Application |
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By End User |
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The performance chemical market was valued at US$ 284.5 billion in 2023 and is expected to grow at a CAGR of 5.1% over the forecast year to reach US$ 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.
| 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 |
Key Market Players
Author
Prem Kumar with profound experience and sound knowledge across a wide range of market forecasting methods, demand forecasting, and pricing analysis, I am able to make precise projections. I have extensive practical knowledge in Time Series Analysis (TSA), Simple Linear Regression (SLR), Multiple Linear Regression (MLR), Seasonality & Trend Forecasting, and Forecasting Models for New Products, among others. Additionally, I have hands-on experience with tools such as Power BI and SQL. I am highly committed, self-motivated, and possess a strong entrepreneurial spirit. Over the past 8 years, my team and I have built a robust clientele in various sectors, including Packaging, Pharma, Medical Devices, Oil & Gas, and Chemicals & Materials. We have provided a wide range of services, from management consulting to market forecasting and survey-related projects. I am particularly proud to have provided consulting services to one of the industry’s leading COVID-19 vaccine manufacturers for a packaging-related project. In the packaging space, I have served clients across a range of segments, including packaging printing, consumer packaging, flexible packaging, rigid packaging, and pharmaceutical packaging, to name a few. I deeply appreciate the efforts of my team and am grateful to our clients for their continued trust.
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