Specialty Chemicals are chemicals differentiated by performance specifications and sold in low volumes. The sector can be further split into market-directed and functional segments. Globally, the Specialty Chemicals sector is projected to grow at a CAGR of 5.42%, reaching a market size of US$612 billion by 2025. Within this sector, Asia Pacific is expected to be the largest and fastest growing market, generating a CAGR of 6.35% and commanding 45% of the global market share by 2025. This is largely driven by the megatrends in Asia Pacific such as a growing population and rising middle class, and increasing urbanisation.
The prioritised Technology Focused Areas under the Programme are:
- Chemical Synthesis of Molecular Switches;
- Design & Synthesis of Polymer Structure;
- Target Release & Delivery;
- Intelligent Formulations;
- Performance Modelling; and
- Characterisation and Analysis