The report is titled “Specialty Chemicals Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 – 2023” states that the market will expand at a 4.70% CAGR over the report’s forecast period. If the rate of growth holds true, the market, which had a valuation of US$800.4 billion in 2014, will rise to US$1,201.1 billion by 2023.

On the basis of geography, the market is segmented into North America, Latin America, Asia Pacific, Europe, and the Middle East and Africa. Of these, Asia Pacific accounted for over 45% of the global specialty chemicals market in 2014 in terms of demand, primarily due to the well-developed industrial base in China and India. Growth of the industrial sector in other Southeast Asian countries also leads to significant demand for specialty chemicals. North America accounted for the second largest share in the global market in 2014, followed by Europe.