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In 2023, global specialty chemical production increased by *** percent compared to the previous year, while other specialties increased by just *** percent. It was projected that both specialty chemicals and other specialties production will see a year-over-year growth of *** percent in 2024. In 2023, the global market value of the specialty chemical industry amounted to nearly *** billion U.S. dollars. 

Specialty chemicals, a global overview

The global specialty chemicals industry is a sector within the broader chemical market, characterized by its focus on products with specific performance attributes rather than bulk chemicals. Worldwide, China was the leading country based on revenue of fine and specialty chemicals in 2024, with over *** billion euros of revenue. The United States followed in second place with nearly *** billion euros in revenue.

The trade leaders of specialty chemicals

In 2024, China and Germany were the leading exporters of fine and specialty chemicals, with export values of **** and **** billion euros, respectively. Meanwhile, the United States was the leading importer of fine and specialty chemicals, with a value of nearly ** billion euros. China followed closely behind with about **** billion euros in imports.