The coatings, adhesives, sealants and elastomers (CASE) segment is growing at a CAGR of over 5%.
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.